There are several ways to send money from the U.S. to Mexico, one of which is to have a relationship with a US bank that is also present in Mexico.
If the sender and recipient both have accounts with one of these banks, it might be a good idea to open an account locally in Mexico. Money being sent between accounts within the same bank is often processed quickly and at little or no cost.
Transfers between two banks are also pretty easy, but can take much longer with substantially higher costs.
Through banks, you can also initiate wire transfers to Mexico. A wire transfer gets the money to its destination quickly, but there needs to be a corresponding bank to receive the wire transfer. Fees can be very high for international wire transfers, but if the money needs to arrive quickly, this is a viable option.
Yet another way to send money regularly to Mexico is through an ATM or pre-paid debit card. This is not the best method in case of an emergency as it takes time for the card to be sent to the person receiving the funds.
Make sure you have a debit card that will ensure money can be withdrawn from a large network of ATMs in Mexico. If using an ATM card, make sure you trust that the recipient is not accessing funds without your permission. A pre-paid debit card is a safer way to ensure the recipient receives the exact amount of money intended.
In addition, online payment services such as ATM Cash are a popular way to get money to Mexico quickly. Online services allow you to send money 24/7 from your computer and for a less amount of money.
Above are some of the most efficient and safest ways to transfer your money to Mexico.
If the sender and recipient both have accounts with one of these banks, it might be a good idea to open an account locally in Mexico. Money being sent between accounts within the same bank is often processed quickly and at little or no cost.
Transfers between two banks are also pretty easy, but can take much longer with substantially higher costs.
Through banks, you can also initiate wire transfers to Mexico. A wire transfer gets the money to its destination quickly, but there needs to be a corresponding bank to receive the wire transfer. Fees can be very high for international wire transfers, but if the money needs to arrive quickly, this is a viable option.
Yet another way to send money regularly to Mexico is through an ATM or pre-paid debit card. This is not the best method in case of an emergency as it takes time for the card to be sent to the person receiving the funds.
Make sure you have a debit card that will ensure money can be withdrawn from a large network of ATMs in Mexico. If using an ATM card, make sure you trust that the recipient is not accessing funds without your permission. A pre-paid debit card is a safer way to ensure the recipient receives the exact amount of money intended.
In addition, online payment services such as ATM Cash are a popular way to get money to Mexico quickly. Online services allow you to send money 24/7 from your computer and for a less amount of money.
Above are some of the most efficient and safest ways to transfer your money to Mexico.
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