How to send money to Mexico without a bank?

Sending money to Mexico without a bank account—either for the sender or the receiver—is highly efficient due to Mexico’s massive network of "puntos de pago" (payout locations).

Here is the step-by-step guide to the fastest and most cost-effective methods for 2024–2025.

### 1. Cash Pickup Services (Best for Speed and Coverage)

The most common way to send money without a bank is through a digital transfer for cash pickup. The sender pays via debit card or cash at a store, and the recipient collects physical Pesos (MXN).

**Top Providers & Locations:**

* **Remitly:** Known for high promotional rates for first-time users. Recipients can pick up cash at **OXXO, Elektra, BBVA, and BanCoppel**.

* **Western Union:** Has the largest physical footprint. Pickups are available at **Coppel, Farmacias Guadalajara, and Telegrafos de Mexico**.

* **Intermex:** Specialized in the US-to-Mexico corridor with high reliability for rural payouts.

**Step-by-Step Instructions:**

1. **Download the App:** Use Remitly or Western Union. Choose "Cash Pickup" as the delivery method.

2. **Select a Payout Store:** Choose a store the recipient can easily access (OXXO is the most common with over 20,000 locations).

3. **Enter Recipient Info:** You must enter their name exactly as it appears on their **IFE/INE (Voting Card)** or **Passport**. Small typos will prevent the pickup.

4. **Share the MTCN/Reference Number:** Once sent, you will receive a tracking number. The recipient must present this number and their ID at the store.

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### 2. Retail Store-to-Store (Best for Senders without a Bank Account)

If you (the sender) also do not have a bank account or debit card, you must use a "Retail Walk-in" service.

**Where to go (US/Global):**

* **Walmart (Walmart2Walmart / Walmart2World):** In partnership with Western Union and MoneyGram.

* **7-Eleven or local Bodegas:** Often house Western Union or Viamericas terminals.

**Actionable Advice:**

* **Bring Cash and ID:** You will pay the transfer amount plus the fee in physical cash.

* **Fee Structure:** Retail walk-ins are generally more expensive than app-based transfers. Expect to pay between $4.99 and $12.99 per transfer depending on the amount.

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### 3. Digital Wallets: SPIN by OXXO (Best for Frequent Transfers)

If your recipient in Mexico does not have a bank account but has a smartphone, **SPIN by OXXO** is the most innovative solution currently in Mexico.

1. The recipient gets a SPIN card at any OXXO for roughly 50 MXN (it functions as a Visa debit card without requiring a traditional bank).

2. You can send money directly to their SPIN card using providers like **Remitly** or **Pangea Money Transfer**.

3. The recipient can then use the card to pay at stores or withdraw cash at any OXXO.

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### 4. Cost and Exchange Rate Comparison (Data-Driven)

*As of late 2024/Early 2025 trends:*

| Provider | Average Fee (Cash Pickup) | Exchange Rate Margin | Transfer Speed |

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

| **Remitly** | $0 - $3.99 (Economy) | 0.5% - 1.5% | Minutes |

| **Western Union** | $0 - $7.00 | 1% - 2.5% | Minutes |

| **Intermex** | $4.00 - $10.00 | 1% - 2% | Minutes |

*Source: World Bank Remittance Prices Worldwide & Provider Real-time App Data.*

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### 5. Critical Regulations and Limits

* **ID Requirements in Mexico:** The recipient **must** have a valid official ID (Credential para Votar/INE is the standard). Under Mexican law (Article 115 of the Credit Institutions Law), payout agents cannot release funds without verifying identity.

* **Daily Limits:** Most retail locations like OXXO have a payout limit per person, often around **$2,000 - $3,000 MXN per transaction** for cash on hand, though larger stores (Elektra or Coppel) can handle much larger amounts (up to $60,000 MXN).

* **Tax Implications:** Transfers intended as family "donativos" (gifts) are generally tax-exempt in Mexico under the Income Tax Law (LISR), but receiving frequent large cash sums may trigger "Discrepancia Fiscal" if the recipient is audited.

### Summary Checklist for the Sender:

1. **Check the "Green" Rate:** Before sending, compare the rate on Google with the rate offered by Remitly and Western Union.

2. **Verify Name:** Ensure the name matches the INE exactly.

3. **Timing:** Send during Mexico's business hours (8 AM - 8 PM) to ensure stores are open for the recipient to collect immediately.