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Costs, Money And Banks in Mexico: Wiring money


Wiring money is a fast but expensive way to send funds abroad and should be considered a last resort. Money can be sent via MoneyGram or Western Union and should be available for collection, from the company's local agent, within a few minutes of being sent. Fees depend on the amount being transferred and both companies charge on a sliding scale, so sending larger amounts of cash is better value. For example, wiring US$75/?50 to Mexico will cost US$21/?14 whilst US$1000/?700 will cost around US$60/?40.

It's also possible to have money wired directly from a bank in your home country to a bank in Mexico, although this is somewhat less reliable because it involves two separate institutions. If you take this route, the person wiring the funds to you will need to know the telex number of the receiving bank

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