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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 Singapore? We've got the smart, secure way to exchange your Singapore dollars for pesos. Headquartered in Sydney, with offices around the world, we provide 24-hour access to our highly skilled transfer team.
Is there any limit on how much money I can send to Mexico?
No. OFX works well for both businesses and individuals when transferring money to Mexico from Singapore.
Can you send money from your Mexican bank account to Singapore?
Unfortunately OFX can only send money one way, from Singapore to Mexico, not the reverse.
Does OFX transfer money to all Mexican banks?
OFX can transfer funds to any bank in Mexico, including, but not limited to:
You can reach our dedicated customer service agents 24/7 (including weekends and most holidays). When others are closed, we’re open. Need a quote? Need it ASAP? Need to talk to someone about your mother? We’re here for you.
When you use OFX, you’ll get fast, efficient service, and we’ll keep you informed of where your money is along the way. For all your overseas payments, OFX is simply smarter.
How can OFX help you manage SGD/MXN exchange rate swings?
Check out our risk management strategies and stay in control of your money.