How to send money to Mexico
Discover how to transfer money to Mexico at the best MXN rate in a few easy steps
1. Check the MXN rate against the currency you want to send
Sending money on a day where the exchange rate is favorable gives your more MXN for your money. It's a good idea to use our smart alerts to stay updated about the MXN mid-market's evolution.
2. Compare the 29 money transfer providers available for transfers to Mexico in order to find the best deal.
Monito's comparison engine lists many companies to send money to Mexico, such as TransferGo, TransferWise, Western Union, MoneyGram, Currencies Direct. You will save big by comparing all your options and find the best deal for your money transfer.
3. Choose the best service that suits your needs
Select the money transfer provider with the overall cheapest cost, the faster transfer time, best reviews, or a good compromise.
It is also important to consider the pay-in/out methods. Bank transfer or credit/debit cards are the most common payment options to send money to Mexico online. On the other side of the transfer, look at different options if you need the amount in MXN to be transferred to your recipient's account or received in cash (from an agent location).
4. Sign up and start your transaction to Mexico with the company of your choice
Go to the money transfer provider's website to go through the sign-up process (you most of the time have to give information to confirm your identity), and get started with your money transfer to Mexico.
I want to transfer money to Mexico, but which provider should I use?
Millions of people like you send money back to Mexico every week. With over 12 million of us living outside Mexico, mainly in the USA, we all need an easy and inexpensive way to send pesos back home to benefit our family, friends, and others. And banks in the USA, Mexico, or elsewhere do not have the best fees or exchange rates for converting money into pesos. In fact, people from Mexico send almost $30 billion back home each year, that’s an average of over $2,500 each and our research shows that most people overspend by up to 5% on their transfers. That means this: using a lower-cost provider could save us up to $1.5 billion collectively, or over $120 each, every year. We want to stop you from overpaying.
There are plenty of options for sending money back to Mexico. We detail over 25 specialist money transfer providers and banks for converting your money into pesos and sending it home. We know that’s a lot of ways to transfer currency to Mexico, which is why we compare all of the most popular options side-by-side so you can make an informed choice.
The best money transfer provider for you will depend on several areas like how much you are sending, where you are sending from, the currency you are exchanging into pesos and some other factors. We take all of those details into account when recommending the best way to send money to Mexico. We’ll help you find the fastest, and cheapest ways to send money home. This is especially important for the many Mexicans sending money from the USA back to Mexico.
For most money transfer providers, you can either sign up through their websites or download their apps which will give you fast and easy access from any smart device. We provide a useful “Smart Alerts” service that tells you how currency exchange rates are changing so you can choose the best time to send money back to Mexico. Learn more and sign up here.
With over 12 million of us living outside Mexico, we all need an easy and inexpensive way to send pesos back home to benefit our family, friends, and others.
The Best Ways to Send Pesos to Mexico
There are several good options for currency exchange, depending on how the person you’re sending money to wants to get access to their pesos.
Sending Less Than $1,000 in Pesos to a Bank Account in Mexico
If you want to send money to a bank account in Mexico, we recommend using a specialist currency provider. If you’re transferring under $1,000 or equivalent, your best options include WorldRemit, TransferWise, Remitly, Transfast and Pangea.
Sending More Than $1,000 in Pesos to a Bank Account in Mexico
Banks That You Can Transfer Pesos to in Mexico
You can normally arrange to send pesos to any of the following banks: Bancoppel, Pagos Intermex, Banco Santander, Scotiabank Inverlat, and Banco Inversa.
Cash Pick-Up Locations in Mexico
Some of these banks are also popular locations for picking up pesos that you have transferred. If the person receiving the money wants to collect pesos as cash in Mexico without going through a bank, then providers like Remitly, Transfast and Xoom are good options.
If you have any questions about sending pesos to Mexico, we’re happy to help, get in touch with us now.