With the US sending more money than anyone else – sending about $68 billion globally each year – and Mexico among the largest recipients of these remittances, the transfer corridor between the US and Mexico is one of the most important. And, with the COVID-19 pandemic still going on, this corridor is vital for people that continue to struggle financially.
So, what’s the best way to send money to Mexico?
When sending money to Mexico, traditional banks can be expensive and slow, with high fees and transfers taking several days. Instead, an online money transfer provider can let you send money fast and at a low cost.
That’s where we come in! Revolut recently updated its Transfers feature, making it a cross-border payment service that offers customers 30-minute transfers from the U.S. to Mexico, fee-free. We’re also committed to providing our customers with the best rates when it comes to currency exchange.
How much does it cost to send money to Mexico?
Revolut’s US customers can make up to ten international transfers a month for free! You’ll also get a great exchange rate for your transaction. After the ten free transfers have been used, we charge a fixed percentage fee of 0.3%, pegged to a minimum of $0.30 and a maximum of $6.
On weekends, we charge an extra 1% to allow for additional costs, and Standard customers who exchange more than $1,000 in currency in a month are charged a 0.5% fair usage fee on any exchanges beyond that.
And how long does it take to send money to Mexico?
In most cases, transfers from the U.S. to Mexico arrive within 30 minutes. Fast, right? Sometimes it can take longer, but we will always keep you updated on the status of your money, and you can now track your transfers from your app.
How does Revolut compare to other service providers?
The table below shows how much sending $1,000 to Mexico will cost with different providers:
This comparison shows the cost of a weekday transfer for a standard Revolut user who has not exceeded their fair usage cap, as at the time of the sample. This comparison shows the cost of a transfer for a Standard Revolut user. This means someone on one of our entry level free plans. You may receive better rates from us if you are on a paid plan. The pricing in this table was collected on and is accurate as of 1/10/22. For live rates and fees, please check our website. T&Cs apply.
Before you confirm the transfer, Revolut will tell you:
- The amount your recipient gets
- The exchange rate for this particular transaction
- The amount exchanged in USD
- The fees charged
- The total amount you pay
- The estimated time it will take your money to reach the recipient
Great! How can I send money to Mexico with Revolut?
If you're already a Revolut customer, you can send money to a Mexican bank account by adding it as a beneficiary in your Revolut app. Not a customer yet? Download the Revolut app to set up an account for free and you’re ready to start sending money home!
Revolut has no hidden fees and offers great exchange rates, making it simpler and more affordable to send money abroad. Just choose how much you want to send and where to. We’ll take care of the rest.Want to learn more? Here’s everything you need to know about making international money transfers with Revolut.
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