Sending money from the United States to Mexico remains a primary source of income for millions of families. However, fees, exchange rates, and intermediaries can result in less money arriving than expected. Here’s a guide to help you send money while paying lower fees, according to federal authorities. Take note of this information!
Remittances are money transfers sent by migrants from abroad to their country of origin, primarily intended for family members to help cover basic needs, education, or investments. Remittances are a key economic pillar for many families and are usually made through electronic transfers, banks, or money transfer services.
One of the most frequent questions Mexicans living in the United States have is how to send money without paying excessive fees (i.e., the charges levied by companies, banks, or digital platforms for transferring money).
In mid-July 2025, the head of the Federal Consumer Protection Agency (Profeco), Iván Escalante Ruíz, shared the “Who’s Who in Money Transfers” report. He explained that he conducted a simulation with a $400 USD transfer to Mexico, both via bank deposit and cash, taking into account the exchange rate and commission fees at that time.
He indicated that for cash transfers, the company that paid the most was Pagaphone Smart Pay, which delivered $7,615.27 pesos; the one that paid the least was Pangea Money Transfer, with $7,259.60 pesos (which charged the highest commission). He also stated that for bank deposits, Cloud Transfer Services paid the most, delivering $7,615.27 pesos, while Ria Money Transfer paid the least (which charged the highest commission), delivering $7,254.78 pesos.
The head of Profeco mentioned that you can compare fees, exchange rates, and simulate the amount of pesos you will receive using the calculator at qqed.profeco.gob.mx. To find out which service charges the highest fees, you need to provide the following information:
If you want to send $1,000 from El Paso, Texas, the services with the highest fees are Xoom (bank account, cash deposit) at $14.29 and Ria Money Transfer (cash/bank account) at $7.
The National Commission for the Protection and Defense of Financial Services Users (CONDUSEF) advises those who wish to send money from the United States to Mexico to do the following:
-Before choosing a service, ask what the fee will be and check if there are any other charges.
-If your transfer is not urgent, consider options with delayed delivery; they are cheaper.
-Compare different money transfer companies.
-The consular ID is accepted as identification; with it, you can open accounts at various banks. Ask your consulate how to obtain one.
-Contact your family in Mexico and choose the best option for sending money together.
If you receive the money, the commission advises:
-Knowing the amount and how long it will take to receive it.
-Informing the person abroad which companies have payment locations in your area.
-Not allowing the company where you collect your money to impose conditions on the service, force you to buy merchandise, or require you to accept payments in kind.
Source: viveusa
