Top 10 Remittance Sites to Mexico - Nov. 2018

Compare top remittance services & send money to Mexico in minutes!

I want to Send Money to:
1
Transfer Fees: Med
95
Users Score
2
Transfer Fees: Low
91
Users Score
3
Transfer Fees: Low
89
Users Score
4
Transfer Fees: Low
86
Users Score
5
Transfer Fees: Med
82
Users Score
6
Transfer Fees: Med
80
Users Score
7
Transfer Fees: Med
78
Users Score
8
Transfer Fees: High
74
Users Score
9
Transfer Fees: High
71
Users Score
10
Transfer Fees: High
68
Users Score
Service
Regulation
Delivery Speed
Delivery Methods
Transfer Fee
Score
Transfer Money Now
1
FMA
Instant
  • Direct to Bank
  • Cash pick-up
Med
* Transfer tracking available
Main Services: International money transfers, cash pickup, remittance services, mobile transfers
Transfer Objective: One time/Recurrent
Transfer Method: Bank transfer, Phone/App, debit or credit card, cash pick-up
Min Transfer Amount: £0.01
Available in:
Extra Features:
- Locked-in exchange rates
- 145+ years of experience in moving money
- Tracking options for transfers online
- 0-3 days of delivery (depends on destination)

Time to open Account: Few minutes
2
FCA
2-5 hours
  • Direct to Bank
  • Cash pick-up
  • Mobile Transfer
Low
Main Services: Send money online, bank transfers, telephone transfers. Send money to family and friends, emigrate, buy a property overseas or make regular maintenance payments.
Transfer Objective: one off/regular transfers
Transfer Method: Electronic bank transfer, UK debit card, UK direct debit
Min Transfer Amount: £100
Available in:
Extra Features:
- Free transfer fees
- Free to open an account
- Transfers by phone, online or App
- Safeguarded customer funds
- Longstanding FX provider since 1979
Time to open Account: Few minutes
3
FCA
1-2 hours
  • Cash pick-up
  • Direct to Bank
  • SWIFT
  • Mobile Transfer
Low
Main Services: International money transfers, send money to family or friends, send money online, mobile app transfers
Transfer Objective: One time/Recurrent
Transfer Method: Bank transfer, Phone/App, debit or credit card, cash pick-up and more.
Min Transfer Amount: $15
Available in:
Extra Features:
- Ria exist in more than 140 countries and over 300K locations.
- Easy & safe to send and receive money.
- Useful for cash pickup almost everywhere.
Time to open Account: Few hours
4
FCA, ASIC
Up to 24h
  • Direct to Bank
  • Cash pick-up
  • Mobile top-up
Low
5
FCA, HMRC
Up to 24h
  • Direct to Bank
  • Cash pick-up
Med
6
FCA
More than 48h
  • Direct to Bank
Med
7
FCA
Up to 24h
  • Direct to Bank
  • SWIFT
  • Mobile Transfer
Med
8
FCA
More than 48h
  • Direct to Bank
  • Mobile Transfer
High
74
9
FCA
24-48h
  • Direct to Bank
  • Mobile top-up
  • SWIFT
High
10
FCA
24-48h
  • Cash pick-up
  • Direct to Bank
High
68

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Frequently Asked Questions

One of the first things that you need to do when considering an international money transfer is to make a research of the providers, including exchange rates, speed of transfer, and credibility of the companies which you are considering.

Follow the link to get the main checklist on how to compare. 

  • Bank transfers. Many major banks can safely wire your funds to Mexico. Banks rely on existing links between banks and banking systems worldwide. However, a downside is the higher fees and weaker exchange rates you’ll typically receive. The fees for wire transfers are estimates and vary from bank to bank. Depending on how you send the money, the exchange rate fee will be paid by your sending bank or the receiving bank. Major Mexican banks like Bank  of Mexico, Banco Santander, Bancomext, Banobras however are reasonable when exchanging from USD to pesos and only charge a 1% hidden fee. The fee will be higher for other currencies though.
  • Online money transfer services. Companies like World First, OFX and WorldRemit make international money transfers to Mexico easy. These specialists offer more affordable transfers than banks do, allowing you to quickly and easily manage your transactions from home. With competitive exchange rates and lower fees, you can send funds from your bank account. Many also allow you to pay with a credit or debit card.
  • Providers with cash pickup. Trusted providers like  Western Union, MoneyGram, and Ria offer the option of cash pickups from thousands of agent locations across Mexico. (For example, Western Union has more than more than 24,900 agent locations in Mexico, including 2,700 telegraph offices or 400 Elektra department stores, while MoneyGram has 16,000 of them ) In some cases, Western Union allows you to send up to $2,999 for free.They offer the key advantage of giving your recipient fast access to the cash you send — sometimes within minutes. However, services typically cost more than an online transfer specialist and vary by where you’re transferring your money and how you’re paying for it.
  • PayPal and/or Payoneer transfers. Payoneer is also one of the solid ways for sending money to the Mexico. Not just for online purchases, PayPal offers transfers to more than 100 countries, including Mexico and supports multiple currencies. Its exchange rates are often better than those you’ll get from a bank but not quite as strong as rates from money transfer companies. PayPal calculates its transfer fee as a percentage of the amount you’re sending — meaning it’s often better for sending smaller amounts of money. Despite having minimal fees for their selected partners, you need to keep in mind that Payoneer charges recipients, too.
  • In most cases you will need a valid I.D. presented at some point. In some cases the recipient personal data might be required as well. Please check the local regulations of the sending location & agent.
  • If sending to a bank account, you also need your recipient’s bank name and account number.
  • If sending to a mobile wallet, you also need your recipient’s mobile number with international dial code

The limit per one transfer may vary depending on the conditions of the provider that you are using. For example, the maximum amount per transaction through Western Union is USD $5,000, while many others have no maximum limit. However, many if not all of the agents have a minimum limit for a transaction and it could vary from 1$ to 1000$. Local country laws may further limit payment amounts.

According to the regulation, Mexican banks must observe the following limits:

  • Individuals that are account holders of the bank can deposit no more than USD 4,000 per month in all banking branches
  • National citizens that are non-account holders of the bank can deposit USD 300 daily, but no more than USD 1,500 monthly
  • Tourists that are not account holders of the bank can exchange no more than USD 1,500 monthly in cash.

See locations for additional country restrictions & check the specific conditions fitting your case.

There is no general limit on sending money to Mexico. You can send as much as you need. But for example, if you’re sending more than $10,000 from the US to the Mexico, you’ll want to make sure to report it. While you can make large transfers depending on your bank’s policy, the bank must report wire transfers over $3,000 and any transaction over $10,000. Independent money transfer businesses are sometimes required to report amounts as low as $1,000, depending on the circumstances. Please check the local regulations of the sending location.

The US Congress recently submitted a bill that proposes a 2% tax on remittances and even the potential options of prohibition the remittance from the US Mexico, and though it is not active at the moment, make sure to check the most updated status!

Depending on the type of remittance and the provider you are using, the transfer could be available to your recipient in Mexico anywhere between few minutes and few days. Please check the specific conditions fitting your case.

Most of the financial institutions have online tools on their website that allow you to track the money transfer. If you have carried out the money transfer to Mexico via a bank, you can track your transaction by entering information like the tracking number and beneficiary’s account no. on the bank’s website.

When you send money via services like Xoom, Western Union, or Ria, you can always track your transfer by logging into your account on their website. The status tracking tools on the websites of these services keep the customers updated about the change in status. The recipient in Mexico can also check the status of the transfer online. The check transfers and bank draft transfers can also be tracked online. Some of these institutions even provide updates via email and SMS where the sender and the receiver can keep a check on the status. A few companies like TransferWise and Xoom have mobile apps that enable customers to check the status of transfer on their mobile devices.

Mexico doesn’t levy specific inheritance, estate or gift taxes on large amounts of money transferred into the country. In short, you can send as much as you’d like to friends and family without triggering a gift or income tax.

The US Congress recently submitted a bill that proposes a 2% tax on remittances to Latin American countries that include Mexico and though it is not active at the moment, make sure to check the most updated status!

When you’re sending money overseas, in many cases you’ll need to convert the funds you send into another currency. But the provider or agent will convert the currency anyway, so you don’t have to deal with it yourself. Generally, Agent locations only accept cash in local currency. The receiver in Mexico will be paid out in Mexican Pesos (MXN).