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Once OFX receives your funds, 80% of all major currency transfers are processed in 24 hours
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How to Send Money to Mexico
Gather the relevant banking information of your recipient including the name on the account, the CLABE (Clave Bancaria Estandarizada), and bank account number.
Sign up with OFX, or login to get a live quote for your money transfer.
Enter your details and those of your recipient.
Select ‘finalise transaction’ to process your payment.
It’s easy and affordable to send money to Mexico using OFX. Even if you’re not ready to transfer funds today, you can sign up now, so your account is active and ready when a great exchange rate comes up.
When sending money to Mexico, keep in mind that different tax regulations may apply depending on:
how the money is going to be used
how much you are sending
the source of the funds
For example, supporting family members by paying for living expenses is usually considered different from sending large sums as a gift.
If the sender resides in the U.S., for tax purposes, the annual gift exclusion is $14,000 for 2017. Sending larger amounts may incur taxes, so speak to a professional beforehand. We were unable to find information as to whether or not the Mexican Tax Authorities will tax gifts from overseas.
While every effort is made to keep this information up to date, it’s best to check with a professional if you have concerns about any applicable taxes.
How to send money to Mexico at a great exchange rateThe Mexican peso has seen substantial volatility since U.S. President Trump took office. Any controversial new trade policies may affect the value of the peso. Remittances to Mexico have averaged nearly US$2.2 billion per annum in the last few years. If you want to read up on the factors that influence the value of the peso or other currencies, head over to the Exchange Rates section of our site.
Mexico Money Transfers – FAQs
Wondering how to send money to Mexico from Canada? We've got the smart, secure way to exchange your Canadian dollars for pesos. With offices around the world, we provide 24-hour access to our highly skilled transfer team.
How fast can OFX transfer money to your Mexican bank account?
Generally speaking, you can expect your funds to arrive in 3-5 days: 2 days for your Canadian bank to wire us the money and 1-3 days for OFX to convert your Canadian Dollars into Mexican Pesos and transfer to your Mexican bank account (via SWIFT & CLABE) for final settlement.
Is there any limit on how much money you can send to Mexico?
Absolutely not. In fact the more money you send, the better the exchange rate we can give you.
How much does OFX charge to send money to Mexican bank accounts?
The most we charge is just $15 for sending Canadian Dollars to Mexico. If you send more than $10,000 to Mexico, your transfer is fee free. Our customers’ real savings come from our highly competitive exchange rates. Compare our great CAD/MXN exchange rates to your bank and see how hard they are to beat.
Can you send money from your Mexican bank account to Canada?
Unfortunately OFX can only send money one way, from Canada to Mexico, not the reverse.
Does anyone at OFX speak Spanish?
Yes! Se habla español.
How do you get your money to OFX?
You'll need to wire money from your Canadian bank to OFX.
Which banks in Mexico do you transfer money to?
OFX can transfer funds to any bank in Mexico, including, but not limited to:
- BBVA Bancomer
- Banco Santander
- Banco de Bajio
- Banco Azteca
- HSBC Mexico
Don't see your bank? Ask us about it after you register.