USD → MXN
Cheapest way to send money to Mexico
The United States to Mexico is possibly the busiest remittance corridor in the world. That competition shows up in the price. Fees here are lower than almost anywhere and there are a lot of providers to choose from. You can get some extremely tight spreads on the USD to MXN currency pair.
Cash pickup is also unusually convenient in Mexico because there is a large agent network. You can pick up money in ordinary shops like OXXO, Walmart, 7-Eleven, Chedraui, etc. You don’t have to go to dedicated offices.
Domestic bank transfers run on SPEI and land quickly. This is important if you’re paying rent from abroad. Bank transfer is the most common way to receive money in Mexico.
If you’re traveling to Mexico, the most convenient way to get cash is probably to just use an ATM with your debit card. You can find some low-fee ATMs with a withdrawal fee of around 20-25 pesos ($1.50 or less). You can also get some good rates exchanging cash if you shop around.
Credit cards are widely accepted at large stores and restaurants and hotels as well as in touristy areas. For day-to-day life, you will need some cash.
When I’m traveling in Mexico, I usually just withdraw money from an ATM. That is the most convenient option. I also carry some USD to exchange, just in case.
Checked . Fee figures are typical estimates, not live quotes. Change them in the calculator if you know your exact fees.
01
The transfer
How much, and which two currencies.
Not in the list? Choose “Enter my own…” and type the 3-letter code (GEL, VND, COP…).
02
How the money moves
Sending to someone else and spending your own money there are different questions. Pick one from the matching group.
To someone else
Your own money there
Loading live rate…
After fees · Wise
1 USD = 16.89 MXN
Mid-market is 17.00.
Adjust feesThese are typical estimates, not official numbers from the company›
Sending $1,000 to someone in Mexico
Money leaves you and arrives with them in Mexican pesos. Sorted cheapest first. “Cost” is the fee plus whatever the rate is worse than mid-market, which is the part most comparisons leave out.
| Method | Cost | They receive |
|---|---|---|
| WisecheapestWise works for sending money to Mexican bank accounts. They charge a small flat fee and a variable percentage fee that is usually around 0.33%-0.55%. There is also a charge to fund your Wise account. The flat fee depends on your payment method. Transfers from bank accounts are cheapest at around 0.5% in total fees. Debit cards increase the total fees to around 1% in most cases. Wise uses the mid-market exchange rate so there is no markup. This is where Wise differs from most other remittance apps. | $6.500.7% | 16,890MXN |
| Taptap SendThis is often the cheapest option for sending small amounts to Mexico. TapTapSend does not charge a percentage fee to send money to Mexican bank accounts or cash pickup. They have a low markup of 0.2%-0.7% on the exchange rate. This option is very convenient for cash pickup. You can send to Oxxo, Walmart, Chedraui, 7-Eleven, and many other stores. | $7.000.7% | 16,881MXN |
| SendwaveSendwave does not charge a percentage fee to send to Mexican bank accounts, digital mobile wallets, or cash pickup. They charge a markup of 0.4%-1% on the exchange rate. You have to fund your transfer with a debit card in most cases. They don't accept credit cards or bank transfers. | $10.001.0% | 16,830MXN |
| RiaRIA does not charge a percentage fee to send to Mexican bank accounts. They charge a markup of 0.5%-1% on the exchange rate. The exact percentage markup depends on where you're sending from and the market conditions. They also charge a flat fee of around $2.99-$5 to send from a debit card, credit card, or bank account. The fee is around $0.99 if you use a debit card. They also offer a first time promotional exchange rate for your first send. It's basically the exact mid-market rate. | $12.961.3% | 16,780MXN |
| RemitlyRemitly charges a flat fee of $3.99 if you're sending under $500. For sends over $500, there is no flat fee. They also charge a markup of 0.5%-2% on each transfer. There is an economy rate with a lower markup but money takes 3-5 days to arrive. There is an express rate with a higher markup but money arrives in minutes. You can send to Mexican bank accounts and they offer cash pickup. They have a large network of pickup locations. Remitly is a good option if you only need to send money once. They offer a promotional exchange rate for your first send. | $13.951.4% | 16,763MXN |
| RevolutRevolut works for sending money to Mexican bank accounts. Revolut uses the mid-market rate. They offer a fee-free allowance on all plans then charge a percentage after you pass the fee-free allowance. On the standard plan, you get a $1000 fee-free allowance per month then you pay a 1% fee. Revolut also charges a 1% fee during weekends. It's best to do all of your sends during the week to avoid this fee. There is also a fee for moving funds to your account from your debit card or bank account. It's around a 1% fee. | $15.001.5% | 16,745MXN |
| Western UnionWestern Union is the most commonly used remittance service for sending money to Mexico. They charge a flat fee of $0.99 to send money directly from a bank account and $1.99 for debit card transfers. They charge a markup of 1%-2.5% on the exchange rate. They also offer cash-to-cash service. Fees are higher for this service but it is available. Credit card transfer fees are also higher at around $10 per transaction. | $16.961.7% | 16,712MXN |
| WorldRemitWorldRemit charges a flat fee between $0.99 and $2.99 for each transfer. The fee depends on how the recipient is collecting the money. They also charge an exchange rate markup of 1%-2.5%. You can send to Mexican bank accounts and they offer cash pickup. | $22.932.3% | 16,610MXN |
| XoomXoom (owned by PayPal) does not charge a percentage fee to send money to Mexican bank accounts. Instead, they charge a markup of 1%-3% on the exchange rate. The exact percentage markup depends on where you're sending from and the market conditions. They also charge a flat fee to send from a debit card, credit card, or bank account. The fee is $0-$4.99 if you send from a bank account. If you send from a debit card, the flat fee is up to $10. If you send from a credit card, the fee is around $15-$25. There is no flat fee if you use the PayPal stablecoin. | $24.892.5% | 16,577MXN |
| PayPalPayPal is usually one of the most expensive options. They charge a 5% transfer fee with a minimum of $0.99 and a maximum of $4.99. They also have a markup of up to 4% on the exchange rate. There is also a small fixed fee for using a debit card or credit card. The money can also only be delivered to a PayPal account. This means the recipient in Mexico needs a PayPal account. If they want to transfer the money to their bank account, they may face additional fees. | $44.804.5% | 16,238MXN |
| Bank wireA flat wire fee of around $50, plus a markup of roughly 2%-5% on the exchange rate. For this reason, a bank wire transfer to Mexico only makes sense for large transactions. | $78.507.9% | 15,665MXN |
On $1,000, Wise costs about $6.50 and Bank wire about $78.50. That's a difference of $72.00 for the same money, or $864 over a year if you move this much every month.
Spending your own money in Mexico
For when you are traveling there and the money is already yours. Costs are per $1,000 converted. Remember that some cards and ATMs charge you for every transaction rather than once.
| Method | Cost | You get |
|---|---|---|
| ATM withdrawalcheapestATMs in Mexico often charge a withdrawal fee. The fee can range anywhere from 20 pesos to over 200 pesos per transaction ($1-$10). There is often a maximum withdrawal of 10,000 pesos or around $600. To withdraw $1000, you would need to make 2 transactions, which would cost up to $20. The cheapest ATMs are usually Santander, BBVA, Scotiabank, Banorte, BanBajio, and HSBC. Your card may also charge a currency conversion fee. This is usually 1%-3%. Some banks offer a 0% conversion fee. If the ATM asks you if you want to accept their exchange rate, always say no. They will give you a worse rate than your bank. | $30.003.0% | 16,490MXN |
| Card spendThe average spread when paying in Mexican pesos with a zero-fee travel credit card is 0.1%-1%. With a regular credit card, there may be foreign transaction fees of 1%-3% on top of that spread. Credit cards are widely accepted in Mexico. | $39.704.0% | 16,325MXN |
| CashThe average spread when exchanging USD to Mexican pesos at a large bank or forex bureau is 2.5%-3.5%. You have to watch the rate you get. Some airport exchange booths and exchanges in touristy areas can have a spread of 5%-10%. | $40.004.0% | 16,320MXN |
On $1,000, ATM withdrawal costs about $30.00 and Cash about $40.00. That's a difference of $10.00 for the same money, or $120 over a year if you move this much every month.
Figures use a rate of about 17 MXN to 1 USD; the calculator above uses the live rate.
How the money arrives in Mexico
Most common first. Which of these your recipient can actually use usually matters more than a fraction of a percent in fees.
- 1Bank transfer via SPEI
- 2Cash pickup at a shop or agent
- 3Debit card top-up
Living in Mexico, not just sending money there
A transfer is one number. These work out a whole month, including what the transfers cost you over a year.
- Cost of living in Tijuana$2,158/mo
- Cost of living in Mexico City$2,490/mo