A vital part of the Latin American economy, it’s estimated that remittances will reach US$61 billion in 2013. A large part - some US$ 22 billion - is destined for Mexico. This places it in fourth place behind India, China and the Philippines in a global ranking for remittances according to a new report by the World Bank.
Before sending money to Mexico, there are couple of things you have to keep in mind like what is the cheapest way ? Depending on your sending amount, what is the fastest money transfer service because time can mean everything. What are the transfer methods available ? Is your final option is the best option for sending money ?
For the all above questions, you can see and compare all popular money transfer services for sending money from USA to Mexico on this page.
Transfer Type | Online |
Pay-In Methods | Credit Card Debit Card |
Pay-Out Methods | Bank deposit - Available for BBVA Bancomer, Banco Azteca and BanCoppel only
Cash pickup - Cash is available to collect instantly from any branch of Elektra, Banco Azteca, BBVA Bancomer, Telecomm Telegrafos, Pagos Intermex and BanCoppel
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Airtime top-up | Mobile airtime is added instantly to phones on Iusacell, Movistar, Nextel, Telcel and Unefon |
Fee | Lower fee than banks |
Speed | Instant |
Fast and Simple transactions
Industry-leading payment security
Use on a computer, smartphone or tablet
Low maximum transfer amount
1. How you want to send money to Mexico: bank deposit or airtime top-up, and enter the amount so that you can transfer to all banks in 1-2 working days.
2. Fill your recipient's details:you can choose from a list of people you’ve sent to in the past, or add a new recipient
3. Now pay for the transfer:you and the recipient both will get notifications by SMS and email when the money is sent and received.
Transfer Type | Online |
Pay-In Methods | Bank |
Pay-Out Methods | Bank |
Fee | A fee of 1% of the amount sent |
Speed | 3-5 days |
Security |
1. 2-factor authentication
2. Registered with the Financial Crimes Enforcement Network (FinCEN)
3. Standard HTTPS encryption safeguards
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Easy process to sign up and initiate a transfer
It’s affordable
Offers better rates than many other providers
High daily transfer limits
Bank account transfers only
It's a Two-step process, firstly wire money to TransferWise and then deposits the money to recipient’s bank account
Need an SSN(Social Security Number) to send money
1. Start your transfer.
2. Get the fairest rate out there.
3. Money is locally delivered.
Transfer Type | Online |
Pay-In Methods | Bank Account Credit Card Debit Card |
Pay-Out Methods | Bank Deposit Cash Pickup |
Fee | Fee varies on different payment methods |
Speed | 3-5 working days |
From Buenavista Tomatlán to Guadalajara to Monclova (and just about everywhere in between), Ria Money Transfer makes sending money to Mexico easier
Simple and convenient for you to send money to anyone,anytime in Mexico.
Exchange rates are higher than banks, with lower fees
Low maximum daily limit
1. Create a free online account on Ria’s website.
2. Fill the details of money transfer.
3. Enter your recipient’s full name and address.
4. If you’re sending money for cash pickup, select a location near your recipient from the provided list.
5. Select a payment method.
6. If paying by credit or debit card, enter your card information and billing address.
7. Check that the information is correct on the Pre-Order Confirmation.
8. Get your order number, which you can use to track your transfer.
9. Track the progress of your transfer by entering your order number, PIN or reference number in the box.
Transfer Type | Online |
Pay-In Methods | ACH Transfer Credit Card Debit Card |
Pay-Out Methods | ACH Transfer |
Fee | Transfers are FREE when you send $500 or more $3.99 when you send less than $500 |
Speed | 1-2 days |
To access higher transfer limits, log in and visit Remitly’s Manage Limits page. Answer the questions and provide ID and additional banking information. Representatives will review the information you provide and get back to you shortly.
Send money in minutes
Track your transfer’s progress with updates to your phone
SSL with 256-bit encryption keeps your money safe
Remitly sends to 10 countries only
Low maximum daily limits
Credit cards transactions and transfers to some countries can be expensive
1. Create an account.
2. Choose your recipient’s country and enter your sending amount.
3. Provide your recipient’s information.
4. Pay with your bank account, credit card or debit card.
5. Confirm your transaction.
6. You will receive text updates on your transaction to your phone.
Transfer Type | Online |
Pay-In Methods | Bank Account Credit Card Debit Card |
Pay-Out Methods | Bank |
Fee | $4.99 fee when sending with Bank Account |
Speed | Instant |
Security |
1. Offers a money-back guarantee
2. Website relies on 128-bit encryption
3. Works with a number of leading banks
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Offers 24/7 customer service
Track your transfers
Money-back guarantee
Many money transfer providers that service larger international networks than Xoom.
1. Sender can transfer the money using a computer or a mobile device.
2. After filling details, you can choose payment options.
3. Enter your recipient’s details.
4. Track the progress of your transfer.
5. Xoom lets you cancel your transfer if it hasn’t gone through, and cancellations do not attract any fees.
Transfer Type | Online |
Pay-In Methods | Debit Card Cash |
Pay-Out Methods | Bank |
Fee | $4.95 when pay with debit card $5.99 when pay with cash |
Speed | 1-2 days |
Pangea Money Transfer’s online transfer process is simple and straightforward
Low transfer fees
Pangea Money Transfer’s many agents worldwide
Earn $30 off a future transfer by referring friends
Limited receiving countries only for sending money.
For individuals only. If you’re a business looking to schedule payments, you’ll need to look at other services.
1. Create a free account with your details.
2. Enter sending amount for your receiver country.
3. Once check final exchange rate and transfer fee.
4. Pay using your payment method.
5. Your recipient will receive a text message with a unique transfer code to use when picking up cash.
Transfer Type | Online |
Pay-In Methods | Bank Account |
Pay-Out Methods | Bank Account |
Speed | 1 day |
Transparent fee structure
Higher exchange rates than local banks
Easy to use website
High minimum transfers
No live chat information
Two step process
1. Create a personal account.
2. Complete your personal information.
3. Choose your receiver country and currency.
4. Provide your passport information.
5. Login with your username and password.
6. Answer two security questions
7. Complete all fields regarding your recipient's detail
Transfer Type | Online |
Pay-In Methods | Online Phone Agent |
Speed | 1 day |
Multiple transfer options
No transfer fees
Wide range of currencies
Deliver funds using bank deposit only
Phone verification for new accounts
1. Register an account with Ofx.
2. Enter personal details, address and occupation.
3. Verify your identity and log into your account.
4. You will get a rate quote.
5. Add the receiving account details.
6. Confirm the transaction.
7. Track the status of transaction.
Transfer Type | Online |
Pay-In Methods | Bank |
Speed | 3-5 days |
Uses online security technology
Trusted Company
Lower fees
Large transfer allowed
Bank to bank transfers only
No same currency transfer
1. Sign up.
2. Get a quote.
7. Send.
Transfer Type | Online |
Pay-In Methods | Bank |
1. Simple,fast & affordable.
2. Nearly 1,500 Travelex stores across the globe.
3. Great rates
4. Price promise
5. 24/7 emergency assistance.
1. Choose your currency.
2. Choose the method of receiving.
7. Pay for your money transfer.
Transfer Type | Online |
Pay-In Methods | Bank Account |
Pay-Out Methods | Bank Account |
Fee | Lower fee than banks |
Speed | 3-5 days |
Best exchange rates
Multiple payment options
Safe and secure
Transfers for certain countries can be expensive
Transfer Type | Online At agent locations Mobile apps |
Pay-In Methods | Bank account Credit/debit card Pay With Cash |
Pay-Out Methods | Bank Cash |
Fee | Fee vary according to payment method chosen |
Speed | 3-5 days |
140 years of reliable service and experience
Pay securely with credit/debit card or via a bank account
More than 28,000 locations in Mexico
Free online registration completed in just a few easy steps
Locked-in exchange rates with no fees for the receiver
Low maximum transfer amount
1. Select country to send to and the amount.
2. Register for free.
3. Choose your payment method.
4. Enter receiver information.
5. Select payment method.
6. Confirm payment.
7. Provide MTCN number to the receiver for immediate cash pick-up