Sending Money to Mexico part 2

Sending funds to Mexico by bank wire transfer:  This process may take 1 to 3 days. You must tell the bank that you want to wire the desired amount plus $32 to:

NationsBank, Department of State Branch, 2201 C St. NW, Washington, D.C. 20520, at 202-624-4750, via ABA number: 114000653; account number: 7476363838; account name: Pupid State Department; Special Instructions: OCS/Trust for Benefit of (Recipient’s Name), U.S. Embassy/Consulate (City, Country); and include the sender’s name and telephone number.

The wire instructions must include the recipient’s full name and overseas location. NationsBank notifies the State Department when funds are received. The $32 fee includes the $20 Department of State fee and NationsBank’s $12 wire fee.

Sending funds to Mexico by overnight or regular mail:  The sender obtains a cashier’s check or money order for the desired amount, plus the $20, made payable to the Department of State. A letter must be attached with the sender’s name, address, and telephone number, as well as the name and location of the overseas recipient.

Mail to:
Overseas Citizens Services, CA/OCS, Rm. 4811, Department of State, 2201 C St. NW, Washington, D.C. 20520.

Important notice to those who receive funds at the consulate: To request funds from a trust account, office hours are between 8 and 11 a.m. The person collecting the money must present a government-issued form of identification.

If the person collecting the money is other than the recipient, a written request specifying the name of the person authorized to receive the funds from the recipient to disburse the funds will be required.

Wells Fargo has a deal with Banamex whereby someone in the United States opens an account for an annual $10 fee and then pays $10 for each wire transfer. Banamex automatically opens an account for the recipient. The transfer can take from a day, which is unlikely, to five days at the outside.

A simple bank-to-bank transfer can vary in cost from $25 to $45 and take between one and three days.
There are many methods in which you can transfer money to Mexico. While money transfer services appear to be the quickest, they are often the most expensive.

Debit/ATM cards appear to be the most inexpensive with the added benefit of being able to reload funds from the convenience of your home or office at anytime.