Send Money Online To Mexico Using Cost-effective And Convenient Methods
Choose a bank that specializes in remittance to the country you want to send money to
, For example, Wells Fargo offers to send money online to Mexico for low prices. The ExpressSend service allows you to send up to $2500 per day to banks like HSBC Mexico, Banorte, or BBVA Bancomer. Bank of America offers SafeSend, which allows you to send money online to Mexico to Banorte, Banco Santander, and Bansefi, just to name a few eligible banks. You simply have to have a checking account with Bank of America to use this free service.You can also opt to send money back home through your own bank, but it can cost a lot without a special service. Most banks charge anywhere from $15 to $45 to send money online to Mexico, and it is usually either a flat fee or a fee that fluctuates based on the amount you send. Clearly, this might not be the best idea if you need to send a lot of money.
If you have to send a lot of money at once, the best kind of rate is the flat fee, which means you can send any amount for one fee. A prepaid debit card would allow you to do this, as you can send hundreds of dollars at once for a $5 fee. Of course this is in U.S. dollars; when your recipient takes out money, it will be in Mexican pesos, each of which equals .07521 U.S. dollars. Keep this in mind when sending money. No matter how much you send, though, you can add funds as needed either through the internet or by phone. Your family members can use it at ATMs in major Mexican areas, such as Mexico City, as well as at shops as a debit card.
The methods of sending money online home to Mexico vary, but they are all rather simple. Some are cheaper than others depending on your situation, so consider the costs before sending money. You should also think about the convenience involved for both you and your relatives. Changing banks to one that offers free transfers just might be worth it if you need to send money online to Mexico often, while a prepaid debit card might be best if you simply need to send a lot of money at once.
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