TransferWise Reviews
Money Transfer Companies from USA to Mexico
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.
1. WorldRemit
Necessary money transfer information while send money to Mexico using Worldremit -
| 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
|
| Airtime top-up | Mobile airtime is added instantly to phones on Iusacell, Movistar, Nextel, Telcel and Unefon |
| Fee | Lower fee than banks |
| Speed | Instant |
PROS
Fast and Simple transactions
Industry-leading payment security
Use on a computer, smartphone or tablet
CONS
Low maximum transfer amount
How to send money to Mexico ?
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.
2. Transferwise
Necessary money transfer information while send money to Mexico using Transferwise -
| 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
|
PROS
Easy process to sign up and initiate a transfer
It’s affordable
Offers better rates than many other providers
High daily transfer limits
CONS
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
How to send money to Mexico ?
1. Start your transfer.
2. Get the fairest rate out there.
3. Money is locally delivered.
3. Ria Money Transfer
Necessary money transfer information while send money to Mexico using Ria Money Transfer -
| 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 |
PROS
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
CONS
Low maximum daily limit
How to send money to Mexico ?
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.
4. Remitly
Necessary money transfer information while send money to Mexico using Remitly -
| 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 |
How can you increase your transfer limit with Remitly?
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.
PROS
Send money in minutes
Track your transfer’s progress with updates to your phone
SSL with 256-bit encryption keeps your money safe
CONS
Remitly sends to 10 countries only
Low maximum daily limits
Credit cards transactions and transfers to some countries can be expensive
How to send money to Mexico ?
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.
5. Xoom
Necessary money transfer information while send money to Mexico using Xoom -
| 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
|
PROS
Offers 24/7 customer service
Track your transfers
Money-back guarantee
CONS
Many money transfer providers that service larger international networks than Xoom.
How to send money to Mexico ?
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.
6. Pangea Money Transfer
Necessary money transfer information while send money to Mexico using Pangea Money Transfer -
| 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 |
PROS
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
CONS
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.
How to send money to Mexico ?
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.
7. Worldfirst
Necessary money transfer information while send money to Mexico using Worldfirst -
| Transfer Type | Online |
| Pay-In Methods | Bank Account |
| Pay-Out Methods | Bank Account |
| Speed | 1 day |
PROS
Transparent fee structure
Higher exchange rates than local banks
Easy to use website
CONS
High minimum transfers
No live chat information
Two step process
How to send money to Mexico ?
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
8. OFX
Necessary money transfer information while send money to Mexico using OFX -
| Transfer Type | Online |
| Pay-In Methods | Online Phone Agent |
| Speed | 1 day |
PROS
Multiple transfer options
No transfer fees
Wide range of currencies
CONS
Deliver funds using bank deposit only
Phone verification for new accounts
How to send money to Mexico ?
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.
9. Hifx
Necessary money transfer information while send money to Mexico using Hifx -
| Transfer Type | Online |
| Pay-In Methods | Bank |
| Speed | 3-5 days |
PROS
Uses online security technology
Trusted Company
Lower fees
Large transfer allowed
CONS
Bank to bank transfers only
No same currency transfer
How to send money to Mexico ?
1. Sign up.
2. Get a quote.
7. Send.
10. Travelex
Necessary money transfer information while send money to Mexico using Travelex -
| Transfer Type | Online |
| Pay-In Methods | Bank |
Highlights -
1. Simple,fast & affordable.
2. Nearly 1,500 Travelex stores across the globe.
3. Great rates
4. Price promise
5. 24/7 emergency assistance.
How to send money to Mexico ?
1. Choose your currency.
2. Choose the method of receiving.
7. Pay for your money transfer.
11. Money2Anywhere
Necessary money transfer information while send money to Mexico using Money2Anywhere -
| Transfer Type | Online |
| Pay-In Methods | Bank Account |
| Pay-Out Methods | Bank Account |
| Fee | Lower fee than banks |
| Speed | 3-5 days |
PROS
Best exchange rates
Multiple payment options
Safe and secure
CONS
Transfers for certain countries can be expensive
12. Western Union
Necessary money transfer information while send money to Mexico using Western Union -
| 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 |
PROS
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
CONS
Low maximum transfer amount
How to send money to Mexico ?
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
