Best way to transfer money from the USA to Mexico (2024)

Best for Transfers to a Bank Account

• Cheapest

  Remitly Monito Score 9.3

  Cheapest

  in 43% of all comparisons

  Go to Remitly

• Top rated

  Wise Monito Score 9.5

  Top rated

  in 100% of all comparisons

  Go to Wise

• Fastest

  InstaReM Monito Score 8.4

  Fastest

  in 49% of all comparisons

  Go to Instarem

Best of 12 providers. Compare all

Best for Transfers to Cash Pickup

• Top provider

  Remitly Monito Score 9.3

  Cheapest

  in 59% of all comparisons

  Top rated

  in 100% of all comparisons

  Fastest

  in 62% of all comparisons

  Go to Remitly

• Cheapest

  in 59% of all comparisons

  Top rated

  in 100% of all comparisons

  Fastest

  in 62% of all comparisons

Best of 3 providers. Compare all

About Money Transfers from the USA to Mexico

Monito compares 13 providers offering international money transfer services from the USA to Mexico. The total cost of the cheapest available option at any given point in the past month was -0.1% of the transferred amount. In comparison, the total cost of the most expensive provider was on average 5.8%.

How to Transfer Money From the US to Mexico

If you're sending money from the US to Mexico, you'll have two main options. One will be to go through your bank (which we don't recommend because of the high fees). Another option will be to use an international money transfer service.

1 — How to Transfer Money to a Mexican Bank Account

Using an online international money transfer service is the fastest and cheapest way to transfer money from the US to Mexico. In general, money transfer services are the best way to send money abroad because they're the cheapest and usually the fastest and easiest-to-use options out there. Find out more about money transfer services here.

2 — Bank Transfers From the US to Mexico

Using your bank — whether it be Wells Fargo, Bank of America, Citibank, Capital One, or any other — is indeed a reliable option for sending money from your bank account to a bank account in Mexico. However, it's very expensive and transfers usually take a long time to arrive (between two and five business days). This is because bank transfers go over SWIFT, which involves many steps along the way.

In fact, sending money from the US to Mexico with Wells Fargo, for example, can be around 10% more expensive than making the same transfer with a top money transfer service online. This is why we generally don't recommend banks to get the job done. Learn more about why online platforms are better than banks for international transfers in our in-depth guide.

3 — Google Pay US to Mexico

A lot of people wonder whether or not they can use Google Pay to send money from the US to Mexico. Fortunately, it's possible to send money this way at this time, and, if you're sending money to a Mexican bank account, we recommend using Wise (rather than Western Union) to get the job done, as it's normally the cheaper option.

Online Money Transfers to Mexico From the US

Would you describe yourself as tech-savvy? Then you'll find online money transfers very handy. The good news is that you could get more pesos for your dollars by switching to one of the online money transfer providers such as Global66.

In the 21st century, an online money transfer is the equivalent of wiring money — only it's much cheaper and easier! With online money providers, you can send money via your mobile phone, laptop, or tablet with just a few clicks. There's no need to go to a bank or money transfer physical location. They offer much better USD-MXN exchange rates than banks and low and transparent fees.Compare your optionsin the list above to find the fastest, best-rated, or cheapest option to send money to Mexico.

Make sure tocompare your optionsbefore every transfer from the US to Mexico to get the best USD-MXN exchange rate every time.

The Cheapest Way to Send Money From the US to Mexico

Let's start with the most expensive solutions: banks, cash-based money transfers, and mobile payments apps likePaypalare typically very expensive options when you factor in all fees (which include hidden exchange rate margin fees).

As we mentioned above, the cheapest way to transfer money internationally is to use a specialist money transfer service. They provide much more competitive rates, fees, and commissions than banks or Paypal. Their fees depend on various factors:

• Pay-in options: Credit card, bank transfer, cash payment, etc.
• Amount transferred from the US to Mexico: The cheapest operator will not necessarily be the same for a transfer of $500 and a transfer of $5,000.
• Transfer speed: Does the money have to be available instantly, or can a beneficiary wait a few days?
• Pay-out options: Will the money arrive in your beneficiary's bank account, or will they receive it in cash?

A dozen other parameters influence the price of sending money to Mexico. You shouldcheck out Monito’s live comparison toolwith dozens of services to find the cheapest or fastest one for you!

Fastest Way To Send Money to Mexico From the US

It comes as no surprise that thespeed of your transfer depends on the method you choose to send your money from the US to Mexico.

When comparing the fastest options, always be sure to also compare the exchange rate to check you’re not getting a poor deal. More information about the fastest way to send money abroad can be found inour guide.

FAQ About Money Transfers From the US to Mexico

• What's the best way to transfer money from US to Mexico? 💸

  There are several excellent options for the money transfer from the US to Mexico, depending on how the person you’re sending money to wants to get access to their pesos.

  All the options you can compare on Monito and make sure you get the best US dollar-peso exchange rate and the lowest fees.

• Is it possible to send money online from the US to a cash pick-up location in Mexico?

  Yes, a money transfer can be sent online in the US and then pick up in more than 18,000 locations in all 32 Mexican states. Cash pick up is an excellent option for those without access to banking or financial services.

  Over the past 3 months, the provider that was most often the cheapest for cash pick-up transfers to Mexico was Remitly, with an average cost of 0.1% of the amount you send (includes fees + exchange rate margin).

  See Also

  Best ways to send money from Canada to India

  With WorldRemit you can send money to the following network of banks and cash pickup partners in Mexico:

  • Walmart Mexico (Mi Bodega Aurrera, Bodega Aurrera Express & Superama)
  • AirPak (Modatelas, Muebles America, Maxilana, Calimax and many more)
  • Elektra: more than 600 offices in all Mexican states (and the network keeps growing)
  • Banco Azteca: there are more than 150 branches, located in all major cities in Mexico
  • Bancoppel: the money can be sent to more than 1,300 branches located in all Mexican states
  • BBVA Bancomer: Mexico’s largest bank with more than 1,830 offices located throughout the country
  • Chedraui: more than 300 stores located in major Mexican cities
  • Farmapronto: the largest pharmacy chain in Mexico with hundreds of stores in ex. Mexico City
  • Telecomm Telegrafos: more than 1,600 offices located in rural areas (open Monday to Friday between 8:00am - 5:00pm and Saturday between 9:00am - 1:00pm)
  • Pagos Intermex: offices available in all Mexican states (open from Monday to Friday between 8:00 am - 5:00 pm and Saturday between 10:00 am - 2:30 pm)
  • Banorte: there are more than 1,000 branches located in ex. Aguascalientes, Alvaro Obregon, Benito Juarez, Coyoacan, Guadalajara, Miguel Hidalgo, Monterrey, Pueblo, Tijuana, Zapopan, and many more cities
  • Banco Davivienda (Formerly Granbanco Bancafe S.A.): there are more than 40 branches located in ex. Bogota, Medellin, Cali or Barranquilla
  • Super GIROS: more than 700 branches in all Colombian provinces and cities
  • BBVA Colombia: a network of more than 500 bank branches throughout the country (ex. 134 in Bogota and 45 in Medellin)
  • Bancolombia: more than 700 branches in the country (ex. in Armenia, Barranquilla, Bogota, Bucaramanga, Cali, Cucuta, Itagui, Manizales, Medellin, and many more).
• What's the cheapest way to send money to Mexico from the US?

  Money transfers from the US to Mexico could be very expensive if you’re unaware of hidden conversion costs. We always recommend avoiding using banks, PayPal, or cash-based money transfer services while transferring the funds from the US to Mexico.

  Many money transfer operators are offering the lowest fees and the best US dollar-Mexican peso exchange rates. All the options you can compare on Monito to make sure you get the best deal for money transfers from the US to Mexico.

  The cheapest way to send money from the USA to Mexico is through an online provider. Among the 13 available, Remitly was most often the cheapest provider (in 43.4% of the searches on Monito.com in the past 3 months).

• What is the fastest way to send money from the US to Mexico? 🔥

  The speed of the transfer from the US to Mexico depends on the amount you send and the type of transfer you choose. With Monito, you will find a fast and reliable way to send money to Mexico.

  The provider that was most often the fastest provider in comparisons of the past 30 days was Remitly (average fastest transfer time : In minutes)

  In our comprehensive guide, you will find out how to choose the fastest money transfer services for your next transfer from the US to Mexico. We also share advice on how to make your money transfer even faster.

• How much does it cost to send money from the USA to Mexico?

  If you send money with the cheapest available provider, the total cost of a USD-MXN transfer was -0.1% of the transfer amount (including all fees and exchange rates) over the past month.

  In contrast, the cost of the most expensive option was 5.8%.

Best Rated Providers to Send Money from the USA to Mexico

Everyone wins, except expensive solutions

• 

  You save money on your transfer by selecting the cheapest provider.

• 

  The best providers earn new customers without expensive marketing, helping keep their costs (and prices) low.

• 

  Monito receives a referral fee from the provider you selected. This enables us to offer our service to you for free.

Why Trust Monito?

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• 

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Mid-market exchange rate