How to send money to Mexico cheaply

Information verified correct on December 10th, 2016

Take advantage of low fees and competitive exchange rates when sending money to Mexico

Send money from the US to Mexico

Mexican Americans constitute 11% of the United States population, so it’s no surprise that many people are looking to send funds from the United States to Mexico.

If you need to send money to friends or family in Mexico or transfer funds to Mexico for any other reason, there’s a range of options available to help you get your money to where it’s needed.

From bank transfers and online transactions to options that allow recipients to collect your funds within minutes, sending an international money transfer to Mexico is easy. However, do your research and shop around for the best available deal.

Compare international money transfers

Rates last updated December 10th, 2016
Min. Transfer Amount Transfer Speed Services Online Transfer Fee Rate Amount Received
WorldRemit International Money Transfers
An online money transfer service ... with cash pickup, bank account to bank account and airtime transfers available.
USD 1 Within an hour
OnlineCash Transfer
Rates are always
changing, click to check
your price today
Go to site More
World First Foreign Exchange
Transfer money into a range ... of currencies online and over the phone.
USD 500 2 days
OnlinePhone
Rates are always
changing, click to check
your price today
Go to site More
Transferwise International Money Transfers
Make online transfers in a ... range of currencies and enjoy high maximum transfer amounts.
USD 1 1 day
Online
Rates are always
changing, click to check
your price today
Go to site More
HiFX International Money Transfers
Transfer money between 20 currencies ... and enjoy scheduled regular transfers. No fee for transfers over US $5,000.
USD 100 2 days
OnlinePhoneAgent
Rates are always
changing, click to check
your price today
Go to site More
Travelex International Money Transfers
Get your foreign currency delivered ... to your home or pick up at a store.
USD 500 2 days
Online
Rates are always
changing, click to check
your price today
Go to site More
Currencies Direct International Money Transfers
$0 online transfer fee that ... you can access 24/7.
USD 100 2 days
OnlinePhone
Rates are always
changing, click to check
your price today
Go to site More
USForex International Money Transfers
Take advantage of competitive exchange ... rates and cheap transfer fees.
USD 150 1 day
OnlinePhoneAgentInternational Money Order...
Rates are always
changing, click to check
your price today
Go to site More
MoneyGram International Money Transfers
Send money anywhere, from anywhere.
USD 1 Same day
OnlinePhoneAgent
Rates are always
changing, click to check
your price today
Go to site More
TorFX International Money Transfers
TorFX guarantee to beat any ... competitor's exchange rate for a transaction. Conditions apply
USD 100 1 day
OnlinePhoneAgent
Rates are always
changing, click to check
your price today
Go to site More
Western Union Money Transfers
Send money online to friends ... and family around the world with Western Union.
USD 1 Same day
OnlinePhoneAgent
Rates are always
changing, click to check
your price today
Go to site More
Back to top

Banks vs. money transfer companies or services

We use our banks to take care of all our other financial needs, so surely we should use them when we need to send an international money transfer, right? Not necessarily. While major U.S. banks offer money transfer services, they usually present less competitive exchange rates coupled with high transfer fees.

You can sometimes save money by using the services of a dedicated money transfer company. These providers specialize in handling overseas money transfers, offering attractive exchange rates and affordable transfer fees. Plenty of reputable providers offer a range of transfer options to suit the requirements of different people.

Maria sends money to Mexico

Maria studies and works in the United States and has saved up a sizable deposit she wants to send home to her family in Mexico. She approaches her bank about transferring $1,000 to Mexico, but she’s dismayed to discover that the bank’s exchange rate is not nearly as good as she’d hoped. Eager to save as much money as possible, Maria compares her bank’s exchange rate and transfer fees with those of a specialist money transfer company.

BankTransfer company
Exchange rate1 USD = 14.65 MXN1 USD = 15.85 MXN
Transfer fee$15$5
Transfer methodBank account depositBank account deposit
Processing time2 business days2–4 business days
MXN received14,650 MXN15,850 MXN

As the table shows, Maria’s family will receive 1,200 extra pesos if she uses a specialist money transfer company instead of a bank. Not only that, Maria will also save $10 on the transfer fee.

How to compare transfer companies when transferring money to Mexico

  • Exchange rate. See how the rates offered by one provider stack up against those offered by competitors. Also, remember that some providers may offer a great exchange rate but also charge high fees.
  • Fees. Most companies will charge a transfer fee when you send money overseas, so see how much each provider charges for each complete transfer. Some providers will waive their fee if you transfer more than a set amount.
  • Transfer methods, options and times. Can you schedule transfers online, over the phone or through an agent? Will they accept payment with your bank account, credit card or debit card? Can you schedule payments ahead of time or take advantage of changing market rates with a forward contract? How long will it take each provider to transfer funds to your recipient? (Western Union, MoneyGram and others offer cash pickup of the funds you send within minutes.)
  • Minimum amounts. If you need to transfer small amounts of money, stay away from providers that impose a high minimum transfer limit.
  • Customer service. Is help available when you have a question regarding a transaction? Compare the availability of customer support options and hours.

How to send money to Mexico from America

  • Bank transfers. Your major U.S. bank will allow you to send money from the United States to Mexico.
  • Money transfer providers. Providers like Xoom and WorldRemit can help you quickly and easily transfer your money online.
  • Transfer companies with cash pickup. Providers like Western Union, MoneyGram and Ria allow you to send funds that can be picked up from an agent location in Mexico.
  • PayPal. PayPal allows you to send money online from the United States to Mexico.
  • Checks. Although not the quickest of transfer methods, sending a check is an option when you need to send money overseas.

Emergency cash transfers in Mexico

You might need to send an emergency cash transfer to Mexico — for example, if a relative traveling through the country loses their wallet. When you need to transfer funds urgently, review the exchange rate and transfer fee that will apply to your transaction.

The fastest possible transfer option will usually charge more, so compare the details of your transaction before you commit.

Cash pickup locations: Western Union and MoneyGram branches in Mexico

If you send money through Western Union or MoneyGram for collection from an agent location, pass your transaction reference number on to your recipient.

Before picking up the cash, they may want to phone ahead to confirm opening hours and make sure the agent can supply the available cash. The person collecting the funds will also need photo ID.

Western Union

Mexico City

Telecomm 09102
Interior Palacio Nacional
Centro
Mexico, Distrito Federal 06000
+01-55-35479022
Open 8 a.m. to 7 p.m., Monday to Friday

Waldos Aragon DF 61 01
Cal San Juan De Aragon No 530
Local 2
Gustavo A Madero
Mexico, Distrito Federal 7450
+52-55-52460700
Open 8 a.m. to 10 p.m. daily

Tijuana

Telecomm 07052
Av Hidalgo 7
Centro
Union Juarez, Chiapas 30880
+52-8008008930
Open 9 a.m. to 3 p.m., Monday to Friday

Calimax Fundadores
Blvd Fundadores 6802
Tijuana, Baja California Norte
22180
+52-664-6376507
Open 7 a.m. to 11 p.m. daily

MoneyGram

Mexico City

Banco Azteca
Venustiano Carranza 91
Venustiano Carranza, Df 06060
5517208177
Open 9 a.m. to 9 p.m. daily

Bancomer Tepito
Calle Pena y Pena Esq Circunvalacion # 57
Colonia Centro
Cuauhtemoc, Df 06020
Open 8 a.m. to 4:30 p.m., Monday to Friday

Tijuana

Soriana #374
Calle Toribio Ortega 299
Colonia Fracc Villa
Tijuana, Bn 22150
7132785436
Open 8 a.m. to 10 p.m. daily

Soriana #202
Rampa Cam Al Aeropuerto
Colonia Produsa
Tijuana, Bn 22390
7132785436
Open 8 a.m. to 10 p.m. daily

Tips for picking up cash in Mexico

Whether you’re picking up cash in Mexico or any other country, take a safety-first approach. Use common sense, such as keeping your cash hidden and depositing it with your bank as soon as possible. Taking a friend along when you collect funds may also be a good idea.

How to send money to Mexico

Whether you send money through your bank, a money transfer provider or any other option, you’ll need to first register for an account with a provider, supplying your name, address, contact details, proof of ID and information about your selected payment method.

Keep a record of any transaction reference number you receive so that you can review the progress of your transfer.

There are multiple options to choose from when you need to send money to Mexico from the United States. To get the best value for money for your international money transfer, compare the benefits and features of competing services before selecting a provider.

Was this content helpful to you? No  Yes

US International Money Transfers Offers

Learn about our information service
WorldRemit International Money Transfers

An online money transfer service with cash pickup, bank account to bank account and airtime transfers available.

USForex International Money Transfers

Take advantage of competitive exchange rates and cheap transfer fees.

World First Foreign Exchange

Transfer money into a range of currencies online and over the phone.

Transferwise International Money Transfers

Make online transfers in a range of currencies and enjoy high maximum transfer amounts.

feedback