How to Send Money to Mexico From Your Bank Account

The basic route: wire transfer through your bank

The most straightforward way to send money to Mexico from your bank account is a wire transfer. You go to your bank, provide the recipient's bank details in Mexico, and your bank moves the money directly to their account. The transfer usually takes one to three business days, though some banks offer faster options for an extra fee.

You will need the recipient's full name, their Mexican bank account number, and their bank's SWIFT code or CLABE number (a 18-digit code that identifies Mexican bank accounts). Your bank will ask for these details before processing the transfer. Have them ready before you visit or call.

Wire transfers through your bank are find and traceable, but they are not always the cheapest option. Banks typically charge a flat fee per transfer—often $15 to $50—plus they may explore their own exchange rate, which is usually higher than the mid-market rate. This means you pay more than the actual cost of converting dollars to pesos.

Key Takeaways

Wire transfers through your bank take one to three business days and require the recipient's CLABE number or SWIFT code, but they charge $15 to $50 per transfer plus a markup on the exchange rate.
Specialized money transfer services like Wise, OFX, and Remitly often charge lower fees and offer better exchange rates than banks, though they may take slightly longer for the first transfer.
You can also send money through Western Union or MoneyGram if speed matters more than cost, but these services are more expensive and designed for smaller amounts.
The recipient does not need a bank account for Western Union or MoneyGram—they can pick up cash at a physical location—but for bank transfers they must have an active Mexican bank account.
Always confirm the recipient's bank details before sending, because wire transfers cannot be reversed once they leave your bank.

Specialized money transfer services: lower fees, better rates

Wise (formerly TransferWise) is built specifically for international transfers and typically offers the mid-market exchange rate with a small markup—usually 1 to 2 percent—plus a flat fee of $3 to $8 depending on the amount. For a $1,000 transfer, you might pay $10 to $15 total, compared to $30 to $50 through a bank.

Other services like OFX and Remitly work similarly: you set up an account online, link your bank account, and initiate the transfer through their website or app. The money reaches the recipient's Mexican bank account in one to three business days. These services are regulated and insured, so your money is protected during the transfer.

The trade-off is that your first transfer may take longer to process while the service verifies your identity and bank account. After that, subsequent transfers are faster. If you need the money to arrive within hours, a specialized service is not the right choice—a bank wire or Western Union is better.

Cash pickup services: when the recipient needs cash, not a bank transfer

Western Union and MoneyGram let you send money that the recipient picks up in cash at a physical location in Mexico. You can initiate the transfer online, by phone, or in person at a Western Union or MoneyGram agent. The money is usually available within minutes to a few hours.

This option is useful if the recipient does not have a bank account or needs cash when ready. However, the fees are higher—typically $5 to $15 for smaller amounts, but the percentage fee increases for larger transfers. The exchange rate is also less favorable than what you get through a bank or specialized service.

The recipient will need a government-issued ID to pick up the money. They can collect it at any Western Union or MoneyGram location in Mexico, including many pharmacies and convenience stores.

What information you need before you send

For a bank-to-bank transfer, you must have the recipient's CLABE number or their bank's SWIFT code. A CLABE is an 18-digit number unique to each Mexican bank account—it is the standard way to identify accounts within Mexico. If the recipient does not have their CLABE memorized, they can find it on their bank statement, in their online banking portal, or by calling their bank.

You will also need the recipient's full legal name (exactly as it appears on their bank account), their bank name, and sometimes their address. Different banks and transfer services ask for slightly different information, so check what your chosen service requires before you start.

For Western Union or MoneyGram, you only need the recipient's full name and the amount you want to send. They will receive a reference number to give to the agent when they pick up the cash.

Exchange rates and fees: what actually comes out of your account

When you send money internationally, two costs explore: the transfer fee and the exchange rate markup. A bank might charge $25 to send $1,000 and then explore an exchange rate that is 2 to 3 percent worse than the mid-market rate. On a $1,000 transfer, that markup could cost you an extra $20 to $30 on top of the flat fee.

Specialized services like Wise publish their exact fee and exchange rate before you confirm the transfer, so you know exactly how much the recipient will receive. Banks often do not show you the exchange rate markup until after the transfer is complete. This is why comparing the total cost—not just the flat fee—matters.

The mid-market exchange rate changes throughout the day. If you are sending a large amount, the timing of your transfer can affect how many pesos the recipient receives. Wise and similar services lock in the rate when you initiate the transfer, while banks may explore the rate at the time the money arrives in Mexico, which could be a day or two later.

Timing: how long the money actually takes

Bank wire transfers typically take one to three business days. This means if you send money on a Monday morning, it usually arrives by Wednesday or Thursday. Weekends and Mexican holidays do not count as business days, so a transfer sent on Friday may not arrive until the following Tuesday.

Specialized services like Wise often match this timeline for transfers to Mexican bank accounts, though the first transfer may take longer while they verify your account. Western Union and MoneyGram are faster—the money is usually available within minutes to a few hours—but only as a cash pickup, not a bank deposit.

Some banks offer expedited wire transfers that arrive the same day or next business day, but these cost extra—usually $15 to $30 on top of the standard wire fee. For routine transfers, the standard timeline is acceptable.

What happens if something goes wrong

If you send money to the wrong account number, the transfer cannot be reversed once it leaves your bank. The money goes to whoever owns that account number in Mexico. This is why confirming the CLABE number with the recipient before you send is critical—ask them to read it back to you or send it in writing.

If the recipient's bank rejects the transfer because the account number is invalid or closed, the money returns to your account, but this can take one to two weeks. During that time, you do not have access to the money and the recipient does not have it either.

Specialized services and banks are insured against fraud and system errors on their end. If Wise or your bank makes a mistake in processing the transfer, they are responsible for correcting it. But if you provide the wrong information, that is your responsibility.

Frequently Asked Questions

Can I send money to Mexico if I do not have a bank account?

You cannot use a bank wire or specialized transfer service without a bank account, because they need to debit the money from your account. However, you can use Western Union or MoneyGram—you can send money in person at their locations or online if you have a debit card. The recipient picks up cash at a Western Union or MoneyGram location in Mexico.

What is the difference between a CLABE and a SWIFT code?

A CLABE is a Mexican bank account number—18 digits that identify a specific account within Mexico. A SWIFT code identifies the bank itself, not the account. You need the CLABE to send money to a specific person's account. Some banks ask for both, but the CLABE is the essential piece of information.

Is it cheaper to send money through Western Union or my bank?

For most amounts, a specialized service like Wise is cheapest, followed by your bank, then Western Union or MoneyGram. However, if the recipient needs cash when ready and does not have a bank account, Western Union or MoneyGram may be your only option despite the higher cost. Compare the total cost—fee plus exchange rate markup—before you decide.

Can I send money to Mexico on a weekend?

You can initiate the transfer on a weekend through most online banking platforms and specialized services, but the money will not actually move until the next business day. Banks and the Mexican financial system do not process transfers on weekends or holidays, so the transfer will begin Monday morning at the earliest.

What if the recipient's bank account information changes after I send the money?

Once the money leaves your bank, it goes to the account number you provided. If the recipient closed that account or changed banks, the receiving bank will reject the transfer and it will return to you—but this takes one to two weeks. Always confirm the account information is current before you send.

This guide is for general information only and is not medical, financial, legal, or other professional advice. For decisions specific to your situation, consult a qualified professional. See our Editorial Policy.