Compare Mexico Peso to Mexico Peso For Sending Money to Mexico from USA

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Mid Market Rate

The mid-market rate is the midpoint between the buy and sell prices of two currencies.
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Travelex is a money remittance company which is specially known for providing effective services to travelers across the world. People can transfer money online, use its money card and get currency exchanged at its stores. 
Western Union is an American financial services company which offer money remittance to more than 200 countries across the globe.

How to find the best money transfer to Mexico from the USA

The USA to Mexico is one of the most competitive remittance corridors where more than 15 companies are offering its services. A lot of banks and money remittance companies are also providing multiple discounts on transfer fees and best exchange rates. But, the major question arises that after seeing competitive exchange rates is which company you should pick to transfer funds from the USA to Mexico.

A lot of banks, MTOs and startups are offering these services to customers with multiple offers and benefits. Due to this competition, consumers now have a large number of choices and negotiating power. But again the question arises is which is the “best money transfer company,” according to your needs and requirement of the recipient. So, here are few base points which you should consider before transferring the US Dollar to Mexican Peso:

  1. Speed: How soon you want your money to reach the recipient? If you want to transfer money faster, you can use cash pickup services of WorldRemit which provides the instant transfer. While, if you have no emergency, then you can use services of Transfast, Remitly, OFX and TransferWise, which will deliver money in 2-3 working days.
  1. Exchange Rate: The companies offer different exchange rates depending on the fees they are charging and their margin of profit. For example, WorldRemit offers live exchange rates deducting a small amount of charges to make profits. Transfast changes its exchange rates once a day and the same will get locked when you start your transaction. Besides this, other companies offer a bit lower rates comparing to live market rates and lock-in so that the same amount will be received by the recipient.
  1. Fees and Other Taxes: There are taxes levied on every transfer depending upon the policies of both the countries which will be deducted from the amount paid. The fee is charged by companies on different types of transfers. Before transferring, first, watch out that you will not end up paying more than you should.
  1. Transfer Convenience: If one can transfer in an easy way without any support of customer assistance, then the company is considered as highly convenient. You can make transfers online without physically visiting its office. In the era of digitalization, mobile apps are also necessary which can ease the transfers anytime anywhere. Transfast, WorldRemit, Remitly, TransferWise are also offering their mobile apps so you can transfer funds anywhere anytime.

Remitly Vs TransferWise: Which is best?

If you are willing to choose any of the company to send money to Mexico from the USA, then first check out which company is providing much better services, Remitly or TransferWise? Before using any of them ask yourself, which is more affordable? Which suits best to your needs? So, here is our analysis of both the money transfer services:

Transfer Fees: TransferWise charges a small percentage of fees of the amount you send while the fees of Remitly depend on the destination country. The fees also increase and decrease accordingly the transfer speed you choose, Economy or Express. Making credit card payment also attracts additional fees in both Remitly and TransferWise.

Exchange Rates: TransferWise offers the true mid-market rates which mean they do not add any margin on it. On the other hand, Remitly has not any said standard rule for exchange rates which mean they can vary a lot.

Transfer Speed: Remitly transfer your funds within minutes if you choose the express transfer option, though it also asks additional fees for transferring funds faster. However, TransferWise transfers your funds within 2-5 business days. Remitly’s Economy option also delivers money to the recipient within 2-5 working days.

So, if you want to get delivered funds faster, you may choose Remitly, but if you have no emergency and wants to get the best transfer rates, choose TransferWise.

Best services to send money to Mexico from USA

Among the multiple money transfer service, we have find out you some of the best services for sending money to Mexico from USA, these are:

USA bank money transfer to Mexico

TransferWise: Company offers same day bank transfers to Mexico from the USA.

Best money transfer company to provide speedy transfers

WorldRemit: It offers cash as well as bank transfers in the speedy form and offers instant delivery in Mexico.

Best money transfer company with multiple locations in Mexico

Western Union: The company is not the cheapest way to send money to Mexico but good for fast and effective same day pick-up. It has around 25,000 agents in Mexico.

Most convenient company for money transfers to Mexico

Xoom Money Transfer: It has more than 14,000 transfer agents available in Mexico and also offers deposits in all the major banks of the country. It offers clear rates and fees and allows account registration within minutes.

FAQ's

How long does money transfer to Mexico from the US take?

Most take three to five working days, although some services can transfer funds in a couple of hours. Money order, cheque and demand draft can even take up to two weeks. Remitly offers delivery within minutes as it has about 15,000 cash pickup locations in Mexico, so as soon as you complete the transfer, the amount will be delivered to the recipient. Henceforth, you should always check the time taken with the transferring company before sending your money.

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What is the best way to send money to Mexico from USA?

We all want that the transfers take place within minutes and our recipient need not wait for long for money. So, you can send money to Mexico in multiple ways such as bank transfer, cash pickup, cheque, demand draft, online money transfer, etc., but knowing which one is the cheapest way to send money to Mexico is also important. For example, Remitly and OFX money transfer companies’ have low transfer fees while MoneyGram and WorldRemit deliver money in minutes as both of them have huge agent network. So, you need to pick the one which suits your requirement and have reasonable transfer fees.

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What are the multiple ways to transfer money from the USA to Mexico?

One can transfer and receive funds to Mexico in multiple modes including bank transfer, cash pick-up, demand draft transfer, foreign currency cheque, wire transfer, mobile top-up, SOFORT, ACH payments, and online transfer.

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Why do money transfer companies offer different exchange rates for Mexico?

Different companies have different business models. Some offer zero fees while taking an exchange rate margin, while others ask for an upfront fee. These companies deduct their costs, profits, commissions and margins from the exchange rates they are offering. Hence all the companies have different exchange rates.

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Can I transfer money from the USA to an account in another name to Mexico?

Yes, most money transfer companies require you to add the details of the receiving party. If you are sending money to Mexico online you will have to add the bank accounts of the receiving party. It could be your Mexican account or someone in your family/friend. Many companies do not allow third-party transfers, so you mostly need your own account.

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Are money transfers regulated in the USA?

The money transfers are regulated by multiple US laws and authorities. If you transfer more than the US $10,000 then you have to report the transfer to the US government along with all your and recipient’s personal details.

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Historical Mid Market Exchange Rate From Mexico Peso (MXN) to Mexico Peso (MXN) (Weekly)

Current Exchange Rate(Mid Market) :- 1 MXN/MXN

Mid-market Rate is a currency exchange rate. Usually traders in currency exchange market have two exchange rates -
  • Selling exchange rate - at which sellers are willing to sell a particular currency and
  • Buying exchange rate - at which buyers are willing to buy a particular currency.
Mid-market rate is the mid-point of these two rates. This is the most transparent and the most accurate exchange rate. It is also known as “Interbank Rate” or “Spot Rate” or “Real Exchange Rate”. This is the rate which independent sources like Reuter, Google etc show.

Compare Currency Conversion MXN To MXN

Send Mexico Peso To MEXICO Receive Mexico Peso
1 MXN TO MXN 1
50 MXN TO MXN 50
100 MXN TO MXN 100
250 MXN TO MXN 250
500 MXN TO MXN 500
1000 MXN TO MXN 1000
5000 MXN TO MXN 5000
10000 MXN TO MXN 10000
Send Mexico Peso Receive Mexico Peso From MEXICO
1 MXN FROM MXN --
50 MXN FROM MXN --
100 MXN FROM MXN --
250 MXN FROM MXN --
500 MXN FROM MXN --
1000 MXN FROM MXN --
5000 MXN FROM MXN --
10000 MXN FROM MXN --

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