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How to Send Money from United States to Mexico

Get the best deals when you transfer from United States to Mexico. Find the cheapest, fastest, and most reliable providers with the best exchange rates.

Read on for the best deals, expert information, and all you need to send money to Mexico from United States.

Sarah Edwards
Author 
Sarah Edwards
Sharon Bahravi
Editor 
Sharon Bahravi
6 minutes
February 16th, 2024
Disclosure

Ways to send money from United States to Mexico

The best rated provider for transfers from United States to Mexico

TorFx

Total number of USD - MXN providers

14

Average cheapest provider for transfers to Mexico from United States

WorldRemit

Average cost of the cheapest transfer from United States to Mexico

$1.82

Best for bank transfers from United States to Mexico

TorFx

Best for debit card transfers from United States to Mexico

Wise

Best for credit card transfers from United States to Mexico

Wise

You can always compare rates and fees based on your transfer amount and payment options when sending money.

The best way to send money from United States to Mexico

Instarem is the best way to send money to Mexico from United States. This is based on cost, speed, and how easy it is to use.

We analyzed 14 providers that allow USD to MXN transfers. Instarem emerged as the best option in 44.6% of searches.

How to send money from United States to Mexico

Follow these steps to send money between United States and Mexico

  1. Choose your provider. Register with the provider of your choice by clicking on the link above.

  2. Enter your details. Enter your details and provide any of the documents needed.

  3. Start your transfer. Tell your provider that you'd like to send money from United States to Mexico, how much you'd like to send, and how you'd like to pay for your transfer. You'll also need to add your recipient's details.

  4. Check the recipient's details. This is really important. It can be very difficult to reverse a transfer from United States to Mexico once it's been sent. Make sure all the details are correct before you submit.

  5. Send the money. When you've checked the details, you can make the transfer.

The cheapest way to send money from United States to Mexico

The cheapest way to send money from United States to Mexico is WorldRemit. On average, transfers from United States to Mexico with WorldRemit cost $1.82, making them cheaper than their nearest competitor.

WorldRemit has been the cheapest way to send money from United States to Mexico for the last three months, on average.

Just to make you aware, bankTransfer was the cheapest payment method.

The current mid-market rate between USD and MXN is 16.753499. The rate the time you transfer will impact your overall cost. As an example, WorldRemit has averaged -0.05% below the mid-market rate over the last three months, generally making sending money a little cheaper before fees.

Note: The cheapest way to send money isn't always the fastest

WorldRemit is the cheapest way to send money from United States to Mexico, but make sure the timeframes work for you.

How the cost of sending money to Mexico from United States is calculated

The cost of sending money from United States to United States depends on several things, including:

The mid-market rate

The current mid-market rate between USD and MXN is 16.753499. The rate the time you transfer will impact your overall cost. As an example, WorldRemit has averaged -0.05% below the mid-market rate over the last 3 months, generally making sending money a little cheaper before fees.

The markup and fee

Providers will often charge a markup on the rate, fees, or both, for transfers between Mexico and Mexico. This is why Instarem is listed as our cheapest option - they offer the best combination of US Dollar to Mexican Peso rates () and fees (1.82).

Bank transfers from United States to Mexico

Bank transfers are the most common way of sending USD to Mexico as they are secure, reliable, and convenient.

If you want to send US Dollars to Mexico via bank transfer, TorFx has been the top rated provider in our comparison system for the last three months, recommended 32.7% of the time.

That’s because companies like TorFx bypass the SWIFT network and rely on their own digital network of banks, making transfers faster and cheaper. As an example, TorFx's transaction fees for US Dollars into Mexico have averaged at for the last three months. This is significantly lower than the fees charged by banks.

Credit card payments from United States to Mexico

Credit card payments are quick, convenient, and typically more secure than other methods, thanks to backing by the issuing party. Some users may even be able to rack up reward points when making large transactions.

If you want to send US Dollars to Mexico with a credit card, Wise is your best option. They've been the top rated provider in our comparison system for the last three months, recommended 49.6% of the time.

Note: Beware of charges

Credit card payments are often classified as cash advances, which bring their own charges, as well as currency conversion and usage fees. Forgetting to pay your balance can also result in high interest charges, and can even damage your credit score.

Debit card payments from United States to Mexico

Debit card payments let you send money from the United States to Mexico with the similar convenience of a credit card, and there are usually no tax advance fees. That said, you might still face currency exchange fees, processing fees, and other expenses, making this a pricier option than a simple bank transfer.

If you want to send US Dollars to Mexico with a debit card, Wise is your best option. They've been the top rated provider in our comparison system for the last three months, recommended 50.4% of the time.

Finding the best exchange rate for USD to MXN

The mid-market exchange rate changes daily, so timing your transfer can make a big difference to how many MXNs you can get for your USDs. The average US Dollar to Mexican Peso mid-market rate over the last month was 17.0061, with a low of 16.7812 and a high of 17.1411.

For comparison, the best exchange rate for USD to MXN right now is through Wise, at a difference of -0.01%.

Mid-market Rate
1
= 16.69565 MXN
Mid-market rate at: 13:48 UTC
USD/MXN Median: 16.718200 Low: 16.672150 High: 16.799398

How we find the best transfer deals from United States to Mexico

We’ve compared the cost, speed, and product offering of the top money transfer services (including TorFx) available between Mexico and United States. Or comparison tool compares providers based on live fees, rates, and transfer times to make sure you get the best deal available.

We also produce unbiased, detailed reviews of all the top money transfer companies for sending US Dollar to Mexico, helping you in making smarter, simpler choices. We pride ourselves on our objective reviews, maintaining complete independence in our analysis and ratings.

Take a look at our comprehensive editorial policy for more information about our dedication to integrity and transparency.

Check your provider is regulated

You should only ever use regulated providers to transfer money. If a provider is not regulated, it’s likely to be a scam.

Remember: We will only ever recommend regulated financial institutions.

FAQs

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Contributors

Sarah Edwards
Sarah is a proficient Content Writer who specialises in the financial sector. Her expertise lies in delivering clear, informative articles that help readers navigate the complex world of financial transactions and currency exchanges.