How to Send Money to Mexico – Compare Fees, Speed & Bank Requirements

🇲🇽 How to Send Money to Mexico

Sending money to Mexico is fast, easy, and affordable with the right provider. Whether you’re supporting family, paying remote workers, or managing business payments, this guide helps you choose the best service and ensures a smooth transfer into Mexican bank accounts.

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🔍 Key Things to Know

• Currency: Mexican Peso (MXN)

• Regulator: Bank of Mexico (Banxico)

• Banking Format: CLABE number (18 digits)

• Fees: Typically 0.5% to 3% depending on provider

• Speed: From minutes to 2 days

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🏆 Best Money Transfer Options to Mexico

✅ Tip: Wise and OFX offer the best mix of speed and cost for personal transfers. OFX is also ideal for business or large payments.

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📋 What You’ll Need to Send Money

• Recipient’s full name

• 18-digit CLABE number (Mexican bank account identifier)

• Recipient’s bank name

• Your ID and payment method (bank account or card)

• Transfer reason (sometimes requested for compliance)

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🏦 Mexican Banking Particulars: What to Know

Mexico’s banking system is well-integrated with global transfer networks, and receiving money is usually straightforward.

✅ CLABE Number & Bank Info

To send MXN into a Mexican bank account, you need:

• CLABE number — an 18-digit standardized bank account number used for all domestic interbank transfers

• Recipient name — must match the bank account

• Bank name — used to validate CLABE format

Tip: Most providers no longer require a SWIFT code for transfers to Mexico.

📜 Regulations & ID

• Mexican law requires providers to verify sender identity for compliance.

• Large or frequent transfers may be flagged and require additional documentation.

💸 No Receiving Fees

• Mexican banks generally do not charge to receive domestic MXN transfers.

• Cash pickups at retail locations (like Elektra) may involve small processing fees.

⚠️ Name Matching

• Mismatched names or incorrect CLABE numbers are common causes of delays or failed transfers.

• Double-check details before confirming your payment.

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📦 Summary

Sending money to Mexico is fast, simple, and affordable through trusted services like Wise, Remitly, and OFX. Whether for family support or business purposes, you’ll need the 18-digit CLABE and a valid reason for the transfer. Choose a provider that matches your needs for speed, convenience, and cost.

Rates are indicative only – compare live rates here.