Sending Money to Mexico

Whether you need to send money to a friend or family member for an emergency or if you send money to Mexico on a regular basis to support your family, there are different ways you can accomplish this. Wells Fargo, Citibank and Bank of America all have branches in Mexico. You can still pick up money at the U.S. Consulate.

Alternate Ways to Send Money

Debit/Cash Cards – There are numerous companies that offer cash cards or debit cards. Cards such as ATMCASH will send the recipient a debit card and you will have the capability to load funds on the card either online or via telephone. The recipient can retrieve the funds at most ATM machines. This card is reusable and you can add funds to it when necessary.

The sender would sign up for the service (ATMCASH.com) either online or by telephone. They would load or fund the account with the desired amount of money via credit card or bank account. The sender is provided with a security PIN number.

ATMCASH would then FedEx the debit card to the recipient. The sender provides the recipient with the PIN number and when the card arrives, they can retrieve the funds at an ATM location.
It is important before choosing one that you read the fine print disclosing the fees as they differ with each card company.

Money Transfer Services – This is still a popular way to transfer funds

If you send money through a money transfer service, it usually can be picked up in a matter of minutes. Some of these services charge rates of up to $10 to send $300 or a flat fee of $30 to send up to $30. The recipient is also charged a fee at the receiving end of about 10 percent.

Bank Transfers

Bank of America and Wells Fargo have relationships with Mexican banks and transfer billions of dollars to Mexico annually.

If transferring money to arrive through a bank or to a different destination other than the consulate, it is important that you know what wire transfer companies exist and the cost of their services. There are several wire transfer businesses or bank services to send money to people in Mexico.

Many of these places are reducing their fees, which vary considerably, so it is best to do some comparison shopping. The money is normally available from 15 minutes to one day, depending on the type of service requested.

Sending Money through the Consulate

In emergency situations only, money may be sent through the consulate. The most protected way is by establishing a Department of State trust fund. This service is available only to U.S. citizens and on an emergency basis. Depositors must establish a trust account in a recipient’s name.

The department, upon receipt of these funds, authorizes payout to the recipient from the appropriate U.S. embassy or consulate. Overseas Citizens Services Trust (OCS) takes approximately one working day and funds are disbursed in local currency. The State Department has a $20 processing fee for this service.