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If you want to send money to Mexico just type the amount into the table below and you’ll then see the providers best suited to your needs. Our tables compare speed, exchange rates, fees and more.
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Online money transfer providers typically offer the strongest exchange rates and lowest fees on money transfers to Mexico. Transfers through banks, account-to-account transfers through PayPal and other options are available but come with high fees, weak rates and long turnaround.
Companies like OFX and TransferWise specialise in foreign currencies, making them some of the most cost-effective transfers. Most offer a variety of options for your recipient to receive their money, including to bank accounts as well as in person.
Services like MoneyGram allow you to transfer cash for pickup at a local branch in Mexico — often in 15 minutes. While it’s a fast way to send money, you’ll pay for the convenience in weak rates and high fees. If a cash pickup is necessary, look to digital services like WorldRemit or Remitly.
Mexican pesos are easily accessible from banks in the UK, but beware of high fees and wide margins on the exchange rate compared to digital and other options.
Let’s say you need to send £2,000 to family in Mexico. Here’s what you might face as far as fees and exchange rates as of 12 April 2020.
|Digital money transfer service||Cash transfer||Bank transfer|
|Fee||£2||£1.90||£20 + additional correspondent bank fees|
|Exchange rate||1 GBP = 28.89 MXN||1 GBP = 28.67 MXN||1 GBP = 28.40 MXN|
|Transfer speed||Same day||Minutes||2-5 days|
|Amount received||MXN 57,739||MXN 57,351||MXN 56,241|
The bank option ends up being both the slowest and gets the smallest amount of money to your recipient. If you go with the digital money transfer service, your recipient ends up with MXN 1,498 more than the bank offers. When you are depending on speed, the cash transfer can have your money to Mexico in as little as 15 minutes for a slightly higher fee.
Weigh costs and fees against convenience, and learn how to compare money transfer providers that send to Mexico to meet your needs:
When it’s more important to get your money to Mexico quickly, look for money transfer companies that support cash pickup in minutes. You can pay with a credit or debit card for fast pickup, but fees are higher than other methods.
Cash transfer services can help you if you’re unbanked or marginally banked. If you don’t have a bank account, look for a local company that supports storefronts for cash payments. These services include agent locations in other countries that allow your recipient to pick up cash without a bank account.
The exchange rate determines how much one country’s currency is worth in another country’s currency. When a country’s currency is strong, it yields more money when exchanging it in a country with a weaker currency. The Mexican peso often fluctuates when compared to the pound sterling, so expect exchange rates today to be different than those you’ll see tomorrow. Factors that influence the exchange rate include interest rates, economic stability and inflation.
Track how the Mexican peso trades against the pound sterling in our historical rate chart.
To send money to Mexico from the UK, you’ll need government-issued ID and other documents, while documents needed to pick up money in Mexico may be different by company.
To send money from the UK to Mexico, you’ll need documentation and details that include:
To pick up money in person, the recipient may need:
Sending your hard-earned money to Mexico shouldn’t cost a fortune. Compare transfer companies that specialise in foreign for the strongest rates, lowest fees and flexible delivery. For transfers to other countries, rely on our country specific guides the next time you need to make a transfer.
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