How To Transfer Money To Mexico

The main ways to send money to Mexico

You can transfer money to Mexico through a bank wire, a money transfer service like Western Union or MoneyGram, your bank's own transfer app, or a digital wallet. Each method has different costs, speed, and requirements. A bank wire is usually cheapest for large amounts but takes one to three business days. Money transfer services are faster (sometimes minutes) but charge higher fees. Your bank's app or a digital service like Wise or PayPal may offer better exchange rates for smaller amounts.

The method you choose depends on how much you're sending, how fast you need it to arrive, and whether the recipient has a bank account or needs cash. If your recipient is in a rural area without banking access, a cash pickup service works better than a wire. If they have a bank account and you're sending a large amount, a wire is usually cheaper overall.

Key Takeaways

• Bank wires are cheapest for amounts over $500 but take one to three business days to arrive.
• Money transfer services like Western Union deliver cash in minutes to hours but charge 5 to 10 percent in fees.
• Digital transfer apps like Wise and PayPal offer better exchange rates than banks or cash services, especially for amounts under $1,000.
• You will need the recipient's full name and either their bank account details or the name of a pickup location if they're receiving cash.
• Exchange rates and fees vary by provider and by the amount you send, so comparing two or three services before you transfer saves money.

Bank wire transfers through your bank

A bank wire is a direct transfer from your bank account to a Mexican bank account. You go to your bank in person or use online banking, provide the recipient's full name, their bank account number, and their bank's routing code (called a CLABE in Mexico — an 18-digit number). Your bank sends the money directly to that account. The transfer usually arrives within one to three business days.

Bank wires typically cost $15 to $35 per transfer, depending on your bank. The exchange rate your bank uses may be slightly higher than the market rate, which adds a hidden cost. For example, if the market rate is 17 pesos per dollar, your bank might use 16.80, meaning you lose money on the conversion. Ask your bank what rate they use before you send.

You need the recipient's CLABE number to complete a wire. If they don't have it, they can get it from their Mexican bank or by logging into their online banking. Some banks in Mexico also accept a bank account number plus the bank's routing code instead of a CLABE, but CLABE is the standard and fastest option.

Money transfer services for cash pickup

Services like Western Union, MoneyGram, and Walmart2Walmart let you send money that the recipient picks up as cash at a location in Mexico. You can start the transfer online, by phone, or in person at a Western Union or MoneyGram office. You provide the recipient's name, and they pick up the cash using a reference number you receive. The money usually arrives within minutes to a few hours.

These services charge 5 to 10 percent of the amount you send, plus a less favorable exchange rate than banks offer. Sending $500 might cost $25 to $50 in fees alone. However, they are useful when the recipient doesn't have a bank account or needs cash when ready. Many locations are open seven days a week and on evenings, which banks are not.

To use a cash pickup service, you need the recipient's full name and the city or town where they will pick up the money. You do not need their bank account information. Some services let you send directly from your debit card or bank account online; others require you to visit a location in person and pay cash.

Digital transfer apps and online services

Apps like Wise, PayPal, and Remitly let you transfer money from your bank account or debit card to a Mexican bank account or to a cash pickup location. These services often offer exchange rates closer to the real market rate than banks do, which saves money on large transfers. Wise, for example, charges a flat fee (usually $1 to $4) plus a small percentage, and uses the real exchange rate with no markup.

You set up an account online, link your bank account or debit card, and enter the recipient's bank details or choose a cash pickup location. The transfer can arrive within hours or one to three business days, depending on the service and the recipient's bank. PayPal and Remitly are available to most U.S. residents; Wise requires you to verify your identity but is open to anyone with a U.S. bank account.

These services work best for amounts under $2,000. For larger transfers, the percentage fee can add up, and a bank wire may be cheaper. Compare the total cost (fee plus exchange rate) on the service's website before you send, because rates and fees change daily.

What information you need before you transfer

If you're sending to a bank account, you need the recipient's full name exactly as it appears on their account, their bank account number, and their bank's CLABE code (18 digits). You may also need the name of the city where their bank branch is located. Ask the recipient to confirm all of this information before you start the transfer, because a mistake in the account number can delay or lose the money.

If you're sending to a cash pickup location, you need the recipient's full name and the city or town where they will pick up the money. You do not need a bank account number. The recipient will receive a reference number from you, and they use that number plus their ID to collect the cash.

Have the recipient's phone number or email on hand, because you may need to contact them to confirm details or let them know the money has been sent. Some services send the recipient a notification automatically; others do not.

Comparing costs and exchange rates

The total cost of a transfer is the fee plus the difference between the real exchange rate and the rate the service uses. A service might charge $10 in fees but use a worse exchange rate, while another charges $20 but uses a better rate. For a $1,000 transfer, the difference can be $20 to $50.

Most banks and services publish their exchange rates online. Before you transfer, check the real market rate (search "USD to MXN" on Google or XE.com) and compare it to what each service is offering. Wise and some other digital services show you the exact rate and fee before you confirm the transfer. Western Union and MoneyGram often do not show the rate until you complete the transaction, which makes comparison harder.

For small amounts (under $200), the fee matters more than the exchange rate, so a fast cash service might be worth the cost. For large amounts (over $1,000), a better exchange rate saves more money than a lower fee, so Wise or a bank wire is usually better.

How long transfers take and what to expect

Bank wires take one to three business days. Money transfer services take minutes to a few hours for cash pickup. Digital apps like Wise take a few hours to one business day for bank transfers, or minutes to hours for cash pickup. Weekends and Mexican holidays can add a day or two to any transfer.

Once you send the money, you receive a confirmation number or reference code. Keep this number — you will need it if something goes wrong or if the recipient needs to check on the transfer. Some services let you track the transfer online; others require you to call or visit a location to check the status.

If the money doesn't arrive within the promised time, contact the service right away. Most services have a customer service line or online chat. Have your confirmation number and the recipient's details ready. Delays are usually caused by a mistake in the account number, a bank holiday, or a system issue on the receiving end.

Frequently Asked Questions

Do I need a bank account to send money to Mexico?

You need a bank account or debit card to send money through most services. Some Western Union and MoneyGram locations accept cash payment in person, but you still need a bank account or debit card if you send online. If you don't have a bank account, you can visit a Western Union or MoneyGram office in person and pay cash.

What's the cheapest way to send $500 to Mexico?

For $500, a bank wire costs $15 to $35 and takes one to three days. Western Union or MoneyGram costs $25 to $50 and arrives in minutes. Wise costs $2 to $5 and takes a few hours. Wise is usually cheapest for this amount, but compare the exchange rate each service is offering on the day you send, because rates change daily.

Can I send money to someone without a bank account?

Yes. Use a cash pickup service like Western Union, MoneyGram, or Walmart2Walmart. The recipient picks up the cash at a location in their city using a reference number you provide. They need a valid ID but not a bank account.

What happens if I send money to the wrong account number?

Contact the service when ready and provide your confirmation number. If the money has not yet arrived at the wrong account, the service may be able to stop or reverse the transfer. If it has arrived, the receiving bank must return it, which can take one to two weeks. This is why confirming the account number with the recipient before you send is important.

Is it safe to send money to Mexico?

Sending money through a bank, Western Union, MoneyGram, or a major digital service is safe. Your money is insured and tracked. Avoid sending cash by mail or giving money to someone to carry across the border — that is not insured and is risky. Stick to an official transfer service and keep your confirmation number.