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Top 3 Money Transfer Providers for USA to Mexico

Provider Amount To Send Fee Exchange Rate Speed
OFX (US) OFX (US) USD $10,000.00 No Fee 16.5482 1-3 days more...
Venstar Venstar USD $10,000.00 No Fee 16.5566 1-3 days more...
Average US Bank Average US Bank USD $10,000.00 No Fee 16.1358 1-5 days more...
FXcompared Country Guides
Mexico imposes few controls on international money transfers below US$10,000 Read More

Send money from USA to Mexico

Top 3 Money Transfer Providers

Latest prices for transferring money from USA to Mexico
Exchange Rates as of 24 May 2024, 20:44


Est. 1998

OFX provides secure and speedy international money transfers to over 300,000 people in 55 currencies at better-than-bank rates.

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Amount Received
MXN $165,482.14
USD $256.42
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Est. 1990
Established in 1990, Venstar is a worldwide leader in Foreign Exchange Payments and Services.
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FXcompared Rating
Amount Received
MXN $165,565.63
USD $261.42
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Average US Bank

Est. 1900

Average of the top US Banks costs as compiled by our own FXC Intelligence group. For more details on the how the bank price comparisons are calculated that include Bank of America, CIBC, Capital One, Citigroup, HSBC Bank USA, JP Morgan Chase, PNC Financial Services, Santander USA, The Northern Trust Company, Toronto Dominion Bank USA, Wells Fargo, see our IMTI page.

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Amount Received
MXN $161,357.61
USD $9.42
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How to Transfer Money from USA to Mexico

USA to Mexico Guide


Mexico continues to be one of the largest recipients of foreign direct investment among emerging market countries, due in part to its proximity to the US and its overall economic stability. Mexico’s government continues to focus on restructuring its economy to make it more competitive and open for foreign investment. Trade agreements and government-sponsored educational initiatives with its closest neighbour, the US, have helped to bolster Mexico’s economy. Currently, there are no restrictions to transfer money from the US to Mexico, and it is common for Mexican citizens living in the US to send money back to Mexico in the form of remittances or repatriation of profits.

Visas, work permits and residency

The Mexican government offers two types of visas for non-residents who wish to stay in the country for longer stays: the temporary visa (for stays of one to four years) and the permanent visa (for stays of longer than four years). For shorter visits, American citizens do not need to obtain a visa. As long as they can provide a valid, up-to-date passport or other form of valid identification, Americans are free to visit Mexico without restriction for up to 180 days. However, they must obtain a tourist card if they are planning to go beyond the border zone or if they are entering Mexico by air. The tourist card, called the FM-T, is available at Mexican border crossing points, airports, and Mexican tourism offices. There are currently no guarantees that travelling over the border will remain as easy once the border wall has been completed. While it will not have an impact on the hard borders already in place, there is a possibility that it will cause a deterioration in relations between the US and Mexico, which could lead to more stringent visa checks.

Buying property in Mexico

Buying real estate in Mexico is generally open and with few restrictions to prospective American buyers. However, to purchase property in Mexico, you must first obtain a permit from the Ministry of Foreign Affairs and are required by law to be over 18 years of age.

Once a property has been found, it is common to make either a verbal offer or an offer in writing, and to accompany the offer with a down payment equal to 20% of the purchase price. The offer must include the details of the sale, including the purchase price and the details of the payment. Once an agreement has been reached between the parties, the purchase agreement, the contrato de promesa de compraventa, can be signed. The contrato does not complete the transfer of the property. However, it is a binding agreement. If either party decides to back out once the contrato has been signed, then they will have to pay a penalty.

American buyers should find a local real estate mortgage broker to help them secure a mortgage, as the Mexican mortgage market can be complicated and difficult to navigate.


US citizens are required to file tax forms with the American government declaring any earnings they make while living in Mexico. US citizens must pay taxes on this income, though the tax treaty between the US and Mexico helps citizens from both countries to avoid double taxation, as it allows them to receive credit on any taxes they pay via a foreign income tax offset.


Americans living in Mexico are not permitted to vote in Mexican national elections. American citizens who wish to vote remotely in US federal elections must first register with their local US consulate or embassy. It’s a good idea to re-register with the consulate each year to ensure that the voter registration remains active and up to date. Online voting can sometimes be temperamental, so it is important to make sure that there is good cell coverage or reliable Wi-Fi.

American students studying in Mexico

American students planning to study in Mexico must first apply for and be accepted to the school or university in Mexico. Once they have received proof of acceptance, they must take this to a Mexican consulate or embassy, along with a letter attesting to their ability to financially support themselves during their studies in Mexico. Once these requirements are met, the student will be issued a student visa, which they must take to the National Institute of Immigration for validation within 30 calendar days of arrival within the country. If the student’s course of study is longer than one year, then the visa will need to be renewed for each year of study.

The Mexican student visa allows the holder to work throughout their term of study in Mexico, but authorisation must first be obtained from the National Institute of Immigration.


Mexico’s healthcare system is a combination of public and private services, and each state offers its own health services, which are overseen at a federal level by the Ministry of Health. All Mexican residents are entitled to a certain level of healthcare services, though it is common for residents to purchase private insurance to supplement their coverage. There is no reciprocal healthcare agreement between Mexico and the US. Americans who plan to visit Mexico are strongly advised to take out travel insurance or a private medical plan to cover medical costs.

Importing from the US to Mexico

Foreign direct investment (FDI) into Mexico continues to increase, with money transfers and FDI from the US accounting for a large percentage of this growth. In 2013, the majority of foreign investment was channelled into Mexico’s manufacturing industry (almost 56%), retail (20%), and the construction sector (12%). In 2012, Mexico joined the Trans-Pacific Partnership, which should help to attract additional FDI into the country. As the US is one of its closest neighbours and trading partners, American businesses and investors generally receive national and most-favoured-nation treatment when investing within Mexico. Mexico is currently the third biggest export partner for the US. This is partly due to it currently being a growing economy and also because it is so close to the US in terms of proximity. It is important to remember that a Mexican customs broker is required when importing in Mexico.

Frequently Asked Questions

Are the money transfer companies shown above safe to use?

Yes, all the companies are safe and fully-regulated money transfer services. Each are authorised and regulated by the relevant authority such as the Financial Conduct Authority(FCA) in the UK, FinCEN in the US, FinTRAC in Canada or ASIC in Australia.

How long does an international money transfer take?

The speed of delivery will depend on where the money is being from and to and how you are sending and receiving the money. Transfers sent using bank to bank transfers can depend take anywhere from minutes to days and you should check the time estimates from the relevant provider. Debit and credit card payments sometimes allow for faster transfers for smaller amounts.

How do I use FXcompared?

First review the comparison results (such as for a table above) for a given amount of money sending from USA to Mexico. Then select a provider based on factors such as price, speed, their rating and click the green button to be taken to their website. From there, you can register and sign up for an account. Once you have done that and the provider has verified your identity to ensure the money can be send safely, you will be ready to transfer money.

What payments methods can I use to send money overseas?

The results shown above are typically for bank to bank transfers. It is possible via some providers to pay in your funds for the transfer via cash, debit or credit cards as well but this is usually reserved for smaller amounts. Some providers also give you different options for how the money will be received - to a bank account (most common), to a debit card, to cash or to a digital or mobile wallet.

What if the price shown above isn’t exactly what I am offered when I try to transfer money?

There can be a number of reasons why the final price you are offered may be different to that shown in the table above. Exchange rates between two currencies change all the time and is the most common reason. Additionally, some providers offer different pricing depending what method you are using to send funds or how the funds will be received. Others may offer you a premium service for faster payments. In some cases FXcompared has a special rate with a provider and this is reserved for first time customers who sign up to the provider starting from FXcompared’s website. As prices do change often, be sure to confirm the total cost with the provider before transferring money.

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All the providers listed are regulated by the relevant authority (e.g. the FCA in the UK, FinCEN in the US, ASIC in Australia) and have been vetted by FXcompared. is an fx money comparison site for international money transfer and to compare rates from currency brokers for sending money abroad. The website and the information provided is for informational purposes only and does not constitute an offer, solicitation or advice on any financial service or transaction. None of the information presented is intended to form the basis for any investment decision, and no specific recommendations are intended.  FXC Group Ltd and FX Compared Ltd does not provide any guarantees of any data from third parties listed on this website. FX compared Ltd expressly disclaims any and all responsibility for any direct or consequential loss or damage of any kind whatsoever arising directly or indirectly from (i) any error, omission or inaccuracy in any such information or (ii) any action resulting therefrom.