How to Send Money to Mexico Cheap and Fast

Most Popular Money Transfer Methods

Here are the methods to transfer money to Mexico from any country around the world.

Bank Transfer

Despite the delays, bank-to-bank transfers are still a safe and trustworthy way to send money to Mexico. A bank transfer may take up to four days to reach its intended recipient. 

When the bank you're sending money from doesn't have a formal financial relationship with the bank you're sending money to, a correspondent bank acts as an intermediary. The same applies when the currency you're sending isn't the same as what the recipient receives. 

Wire Transfer

A wire transfer uses electronic transfer between two banks or other financial institutions. To send money, you need to go to a physical location, as does the person receiving the money. Usually, the processing time is a few days and there’s also a limit on the amount of money that you can send.  

Money Transfer Apps

Some money transfer companies offer applications available on Google Play or the App Store. They enable you to quickly check exchange rates and transfer money from anywhere in the world. Follow their directions on how to send money to Mexico using your smartphone. Money transfer apps are more popular because they are faster, cheaper, and easy to use.

Cheapest way to send money to Mexico 

The best method to send money to Mexico may differ based on the specifics of your transaction. Whether you prioritize cost or speed, the payment method you choose, and other factors may influence the best choice. 

But, it would be best if you know:

1. Transfer fees: Money transfer operators generally set a cost structure, while others offer no payments for overseas transfers but have a higher exchange rate markup.
2. Exchange rates: The percentage added to the mid-market exchange rate is known as the exchange rate.  

To discover the cheapest method to send money to Mexico for your particular transfer, you’ll need to compare providers and the various cost structures they have in place for each of these charges. The cheapest way is using an app to send money to Mexico because it provides a variety of payment and delivery options.

Fastest Way to Send Money to Mexico

Wire transfers are the more traditional option, and they are relatively safe, too, but they could take longer. On the other hand, bank transfers might require a physical presence, especially if you don’t know how to send money to Mexico online. With transfer apps, you can send money wherever you are in the world. Therefore, transfer apps are the fastest and easiest.  

For money transfer apps, you may consider using calculators to get the best possible exchange rates. You may consider the Transfergo calculator app. It is straightforward. 

Best Ways for Specific Countries

The most cost-effective money transfer service now may not be the most cost-effective tomorrow. Therefore, we will provide some examples below based on the most popular corridors. 

Send Money to Mexico From the USA

 One of the cheapest ways you can send money from the USA to Mexico is through Revolut. For example, if you want to transfer 1.000 USD from one Revolut user to another, the fee is as low as $3 (at the time of writing). The same goes if you need to send money from Mexico to USA.

Send Money to Mexico From the UK

The Wise app offers a cheaper and faster way to send money to Mexico from the UK. To send 1.000 GBP, the fees are 11.44 GBP and the funds are transferred in just 5 minutes.

 Send Money to Mexico From Canada

On the other hand, if you want to send money from Canada to Mexico, you best option is Wise, former TransferWise. You can send 1.000 CAD for a fee of just 14,71 CAD and your money will arrive in 1-2 days.

Conclusion 

Online transfer services make sending money easier. There’s no such thing as the best money transfer app for every situation. This is why we created a complex comparison tool to help you find the best money transfer app for your need.

Use our comparison tool now to find out which is the best money transfer app for your current needs.