If you are looking for the best apps to send money to Mexico, we have something to tell you!
Investobuddies.com – We understand that from the United States it is always necessary to have a means to continue supporting your family or close circle in Mexico.
We also understand the needs of those who live in a country other than their own, so we decided to compile in this article the best apps and companies to send money to Mexico.
The Best Apps to Send Money to Mexico
Despite that, we know that there are endless options to send money; however, it is important that you always check the reliability of the platform you choose.
On the other hand, you can also consider traditional options to send remittances from the United States to Mexico through companies to send money to Mexico.
Remitly has more than 3 million users worldwide.
It is an extremely reliable option that receives a score of 9.5/10 from the users who use it.
The most outstanding feature of Remitly is its fees and exchange rates. In addition to this, Remitly also stands out for being available in many countries and maintaining extremely convenient rates in all of them.
On the other hand, another remarkable feature of Remitly is that it offers different options to deposit and withdraw money.
There is currently a Remitly promotion of 20.57MXN per dollar with a $0 fee on the first transfer.
Regarding their transfer fees, if your transaction is greater than $500, you will not have to pay. If your transfer is less than $500, the fee will be $3.99.
What is not so favorable?
On the other hand, a Remitly drawback could definitely be that their fees are hidden behind the exchange rate they offer, plus Remitly wire transfers often take several days to post to the recipient’s account.
To send money with Remitly you will need:
- Name and address of the recipient.
- Debit card, credit or bank account.
Although it does not have the best rates on the market, among the apps to send money to Mexico, Xoom is one of the favorites.
This is due to their trust and credibility, considering that it is a PayPal product.
Its users give it an approximate score of 8.6/10 for its positive features, such as the ability to deposit and withdraw money in many ways, fast transfers and the fact that it is available to send money from the United States to Mexico and other countries. countries.
The minimum amount you can send is 202MXN. That is, about $10.06 from which Xoom will debit a commission. Xoom’s exchange rate is 20.06MXN per dollar.
What is not so favorable?
Xoom has some things to improve. In their customer service section they have received numerous complaints because, when there is a problem with the issuer’s account (such as it being unconfirmed), Xoom tends to make holds for too long. In addition, to release these withholdings, they require a large number of documents and receipts.
Elektra is a point to receive money sent from the United States.
This company works under agreements with apps to send money such as MoneyGram, Remitly, Xoom, Western Union and other entities.
However, the alliance that stands out the most is the one that Elektra has with Banco Azteca.
Thanks to this joint work, it is possible to receive money in Mexico that is sent from Dinero Express or from the app and is delivered almost immediately.
- Among the available options, Elektra is not the cheapest regarding exchange rates.
- While its cost increases due to VAT, in addition to the shipping cost.
It was formerly known as TransferWise and since then it has had a service that has been rated 9.5/10 by users.
Wise offers a transparent and honest service. In fact, users highlight this feature above any other.
- Another of the great benefits of Wise is that it is, honestly, the provider that has the best relationship between cost and reliability.
- It is the cheapest among reliable providers and offers many diverse payment options.
Wise’s exchange rate is 20.62 MXN per US dollar.
- Regarding the disadvantages of Wise, unfortunately it has limited functions. This means that if you intend to use it to transfer money and pay tax-related bills, for example, Wise will not allow you to do so.
- And one of the main reasons people don’t use Wise is because it doesn’t have any cash delivery points.
WorldRemit is among our best apps to send money to Mexico because it has 4 million users who recommend it and rate it 8/10 for trust and security.
It does not stand out especially for its fees and exchange rates, but this is covered by other properties that make it far above the competition, such as its usability and customer service.
WorldRemit offers a wide variety of options for sending and withdrawing money, as well as a global network of offices for cash withdrawals.
The WorldRemit exchange rate is 20.24MXN per dollar.
In case you are looking for apps to send money in large sums, then this will not be the best app for you.
WorldRemit only accepts a total of $8,000 per day.
6. Western Union
It is the largest transfer company in the world! Its years of experience have allowed Western Union to correct any possible error within the bank transfer process.
For example, it has the largest network of offices available for the delivery and withdrawal of cash. But it also offers a wide variety of options to deliver the money, such as bank transfers, deposits, cash, etc.
Regarding rates, Western is usually one of the cheapest options for cash pickups; still, it is almost never the best option for bank transfers.
The Western Union exchange rate is 20.23 MXN per dollar. However, it is important that you know that this entity does charge a fee for the transfer made ($2.99).
What should you take into account?
Western Union also has numerous disadvantages. One of the most notable could be that you have numerous complaints related to customer service and user support.
After Western, MoneyGram is the second largest transfer company in the world.
Although its fees and exchange rates are not the best on the market, it has other features that make it an extremely attractive app to send money to Mexico.
Among them, there is the possibility of sending from your mobile app or from the website. In both cases, the user experience is simple and intuitive.
The MoneyGram exchange rate is 20.24MXN per dollar.
Regarding the disadvantages:
MoneyGram does not support transfers over the phone. The only options available are online or cash transfers.
Also, fees often rise significantly when you expect to make a transfer via credit or debit card.
We hope that this guide to apps for sending money to Mexico will help you choose the best option according to your needs, whether it is: a more convenient exchange rate, speed in the payment process, economic rates or the ease of receiving the cash.
To finish this article, we leave you with a tool called Monito that we have found very useful, since it allows us to compare the exchange rates, the transfer time and the transaction fees of the different apps for sending money to Mexico and to other countries of the world. world.
Leave us in the comments how these apps have gone for you or if you have any that you think should be included in this top.
Until next time!