How To Send Money To Mexico

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Sending money to Mexico is simpler than ever before. There are several money transfer companies active within the Mexican market, with thousands of locations blanketing the county. However, even with all of the alternatives in companies available, there are still only a couple of ways for the recipient to securely receive the cash . Unless you would like to send an envelope filled with cash through the postal mail (and you don’t), you’re getting to be paying the cash transfer company to permit the recipient to either pick cash up locally, or have the cash deposited in their bank accounts.

Table of Contents

Sending Money Person to Person

Ask the recipient how soon they’ll need it. Some sorts of transfers will take longer than other sorts of transfers. confirm the person you’re sending the cash to doesn’t need it before your chosen method of transfer will allow.

All of the cash transfer services offer quick transfers if your payment is formed with a debit or mastercard . If you employ a checking account , the transfer will take between three and 4 business days.

Sending Money to a checking account

Gather your account or card information. If you select to possess money deposited directly into the recipient’s checking account , you’ll send the remittance online or face to face . so as to try to to so, you’ll need your mastercard , open-end credit , or the name and address of your bank, along side your checking account number and routing number.

If you would like , you’ll also attend a physical Western Union or Moneygram location, pay cash, and have it deposited into the recipient’s account.

Cheapest for bank deposits: OFX

If cost is your main concern and if both you and your recipient have bank accounts, OFX beats the competition for a couple of reasons. This digital transfer platform charges no upfront transfer fees and features a low markup on exchange rates for U.S. dollars to Mexican pesos. additionally , you’ll found out rate alerts to send money when a rate is more favorable for you.

Cheapest for cash pickup: Remitly

This online and mobile provider combines low transfer costs and a substantial network of money pickup locations in Mexico. Remitly has competitive exchange rates, and its overall costs are lower if you select to possess your transfer delivered in three to 5 business days. A transfer delivered within minutes will cost you a touch more, but both have a $3.99 fee if you’re sending but $500 (it’s $0 if you’re sending quite that). you’ll also pay with a mastercard for an additional 3%.

Tips

  • Don’t use PayPal for a world money transfer. It’s among the slowest and costliest ways to send money internationally.
How To Send Money To Mexico

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