Mexico often qualifies as one of the top 3 remittance-receiving countries in the world, with billions of dollars worth of money transfers sent to the country each year. Despite being so closely connected to the United States, Mexican Pesos is the legal tender, although US Dollars are often accepted. When making your money transfer from United States to Mexico it is crucial to identify how the size of your transfer, payment type and delivery time will affect the overall cost. Our comparison engine is an excellent resource for anyone unsure of what exchange rate to expect for USD to MXN.
When considering how to send money Mexico from United States there are some key aspects of the transfer that will impact the best provider for your needs.
There are plenty of international money transfer providers for United States to Mexico. The fastest provider is XE - Remit. The cheapest provider we found is XE at 0.9% Above Mid-Market Rate.
If you’re looking for the best combination of price, speed, and reliability we recommend using XE - Remit when sending USD – MXN.
This means that by using XE - Remit for online money transfers to Mexico from United States, you are likely to save on transfer fees and benefit from fast speeds – so your recipient will get more money and have it delivered in less time.
Alternatively, if you are unable to access XE - Remit for any reason, our comparison engine has found WorldRemit and XE also to be very good options when sending USD to MXN.
The cost of transferring money will depend on the value of the transaction and amount of MXN you want the recipient in Mexico to receive.
In order to avoid high fees, you should consider the cheapest way to send money from United States to Mexico.
XE has been determined by our comparison engine to be currently offering you the cheapest rates possible.
When sending money from United States to Mexico, speed is one of the biggest factors you need to consider in terms of the service offered by different money transfer providers, particularly if you want to send money instantly. Currently, XE - Remit is the fastest way to send USD – MXN.
Most money transfer providers allow you to deposit and send money using various payment methods, but not all providers offer every option. Typically you’ll find the most common methods are bank transfers and card payments, but many providers also accept cash and some will even deliver funds straight to your recipient’s door.
To avoid high fees you can opt to use an online money transfer provider such as WorldRemit to pay for your transfer to Mexico. Our guide on sending money using a credit card has more information.
With XE - Remit you can send money online to Mexico using your debit card. But before making a payment, make sure you understand all the processing fees in place. Our guide on sending money using a debit card has more information.
Bank and international wire transfers are the most common ways of sending money Mexico as they are secure, reliable, and convenient. However, they often come with the slowest delivery times in case speed is an important factor for you. You can use XE - Remit to send money using a bank or wire transfer at a great rate as long as you’re happy for your transfer to take 1-2 days.
When sending money to Mexico from United States using bank account transfer you are paying for the outgoing fees, flat fees, currency exchange rate markup, and sometimes an additional incoming transfer fee.
On the other hand, you usually only pay a sender fee and a small exchange rate markup when using online money transfer services such as XE - Remit, WorldRemit and XE.
Before sending money to Mexico from United States, you should consider the following:
This one’s easy. Simply use our comparison table above to find the best provider to send USD to MXN. After that it’s just a process of making your transfer via the following steps:
Your recipient has a few methods available to receive your money in Mexico. These will vary between providers, but it is possible to find services that will:
If your recipient is going to collect or have the money delivered to them in Mexico, then they will usually need the following:
The amount of MXN you can receive from United States will largely depend on the money transfer service you are using. There are providers that specialise in smaller remittance payments, and providers who specialise in larger transfers.
You should also check if there are any government regulations pertaining to the amount of MXN that can be received in Mexico or sent from United States before making your transfer.