How to send money to Mexico on an app?

Sending money to Mexico via an app is generally the most cost-effective method compared to traditional bank wires. To get the best value, you must distinguish between the **transfer fee** (the upfront cost) and the **exchange rate margin** (the hidden cost where the provider takes a cut of the currency value).

Based on current 2024/2025 market data and insights from *MexEdge* and *Merida Review*, here is how to navigate the process.

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### 1. Choose the Right App for Your Needs

Different apps serve different purposes based on whether you prioritize speed, exchange rates, or convenience.

* **Wise (Best for Mid-Market Rates):** Wise is the gold standard for transparency. They use the "Real Exchange Rate" (the one you see on Google) and charge a small, transparent fee.

* **Best for:** Sending large amounts where exchange rate markups would be costly.

* **Note:** As highlighted by *Almost Retired in Mexico*, Wise is exceptionally fast but requires the recipient's CLABE (18-digit bank code).

* **Remitly (Best for Speed/Cash Pickup):** Remitly often offers "New Customer" promotional rates that are better than the market rate for the first $500–$1,000.

* **Best for:** Sending money to someone without a bank account (Cash pickup at OXXO, Elektra, or Coppel).

* **Pangea (Best for Ease of Use):** Highly rated for its mobile interface specifically targeted at the US-to-Mexico corridor.

* **Best for:** Repeat transfers to family members via debit card push.

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### 2. Required Information

Before opening the app, gather the following to avoid "flagged" transactions:

1. **Recipient’s Full Legal Name:** Must match their official ID (IFE/INE or Passport).

2. **The CLABE Number:** This is an 18-digit number assigned to every Mexican bank account. **Do not use the 16-digit debit card number** unless the app specifically asks for it, as it often leads to failed transactions.

3. **Bank Name:** (e.g., Banorte, BBVA, Santander, Banco Azteca).

4. **Purpose of Remittance:** Mexican banks often flag incoming transfers. Labeling it "Family Support" or "Payment for Services" helps comply with SAT (Mexican Tax Authority) monitoring.

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### 3. Step-by-Step Instructions

#### Step 1: Compare Rates

Use a comparison tool like **Monito** or **ScanTheRate** to see the live difference between Wise, Remitly, and Western Union. *MexEdge* identifies that a "Fee-Free" transfer often has a 3% hidden markup on the exchange rate, making it more expensive than a transfer with a $5 fee and a better rate.

#### Step 2: Set Up Your Profile

Download your chosen app and complete the KYC (Know Your Customer) verification. You will usually need to upload:

* A photo of your US/Canadian ID.

* The last four digits of your SSN (for US users).

#### Step 3: Fund the Transfer

* **Debit Card:** Fastest (usually instant) but carries higher fees from the app.

* **Bank Account (ACH):** Slowest (1–3 business days) but usually has the lowest fees.

* **Credit Card:** Generally discouraged due to high "Cash Advance" fees charged by your credit card issuer, not just the app.

#### Step 4: Execute and Track

Once you hit send, you will receive a tracking number (MTN). If sending for cash pickup, you must text this number to the recipient.

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### 4. Avoiding Hidden Fees and Limits

* **The $60,000 MXN Threshold:** According to Mexican banking regulations, transfers exceeding roughly $60,000 MXN in a single month to an individual may trigger an audit by the SAT. If you are sending $6,000 USD (as mentioned in the *MexEdge* resource), it is safer to split this over two months or ensure the recipient is prepared to prove the source of funds.

* **Weekend Delays:** Even if an app says "Instant," Mexican banks often delay the posting of SPEI (Mexican inter-bank system) transfers on Sunday evenings or bank holidays.

* **OXXO Limits:** If sending for cash pickup at OXXO, the limit is typically **$5,000 MXN per transaction**. For larger amounts, choose Elektra or BBVA for pickup.

### Summary of Top Recommendations (2025)

| Provider | Pickup Method | Best For... |

| :--- | :--- | :--- |

| **Wise** | Bank Deposit | Lowest cost for transfers over $1,000 |

| **Remitly** | Cash Pickup/Bank | New customer promos (very high rates) |

| **Xoom (PayPal)**| Bank/Cash | Convenience if you already have a PayPal balance |

| **Western Union**| Cash Pickup | Maximum rural coverage in Mexico |