Cheapest ways to send money to Mexico from the US: total cost by provider
On a $500 transfer, the gap between the cheapest and the most expensive service the World Bank measured is 9.44 percentage points — about $47.00. The difference is rarely the fee: it is the exchange rate. This page shows the total cost of every measured service and what it means in pesos today. Leer en español →
Checked 2026-10-16 · source: frankfurter.app (BCE). No provider gives you exactly this rate: the difference is its margin.
Banxico official FIX: 1 USD = 18.4250 MXN · determined 2026-10-15 · Banco de México, SIE serie SF43718 (FIX). Used for obligations denominated in foreign currency; not the rate you send at.
3.06% sending $500 · 46 services measured. Sending more per transfer almost always lowers the percentage cost.
Provider comparison — sending $500
Latest official World Bank measurement (Q3 2025). "Est. received today" combines that measured cost with the reference rate of 2026-10-16; the final amount is set by the provider when you send.
| Provider | Pay with | Received as | Speed | Fee | Total cost | Est. received today* |
|---|---|---|---|---|---|---|
| Walmart2World | Debit card | Cash | Less than one hour | $0.00 | -2.44% | MX$9,487 |
| Xoom | Bank account transfer | Cash | Less than one hour | $0.00 | -0.33% | MX$9,292 |
| Walmart2World | Debit card | Cash | Less than one hour | $8.99 | 0.47% | MX$9,218 |
| Xoom | Debit card | Cash | Less than one hour | $4.59 | 0.59% | MX$9,207 |
| Wise | Bank account transfer | Bank account | Same day | $4.64 | 0.96% | MX$9,172 |
| MoneyGram | Bank account transfer | Bank account | 3-5 days | $1.90 | 1.14% | MX$9,156 |
| Ria | Bank account transfer | Cash | 3-5 days | $3.00 | 1.41% | MX$9,131 |
| Ria | Debit card | Cash | Less than one hour | $3.90 | 1.59% | MX$9,114 |
| Ria | Debit card | Bank account | Less than one hour | $1.99 | 1.64% | MX$9,109 |
| MoneyGram | Bank account transfer | Cash | 3-5 days | $2.99 | 1.72% | MX$9,102 |
| Wise | Debit card | Bank account | Less than one hour | $9.94 | 2.02% | MX$9,074 |
| Viamericas | Cash | Cash | Less than one hour | $3.99 | 2.13% | MX$9,064 |
* Estimated Mexican pesos per $500 sent. Negative costs are real exchange-rate promotions measured by the World Bank (a rate better than interbank). Showing the 12 cheapest of 45 services; the full list is in the open dataset.
Sending $200 — the 8 cheapest
| Provider | Pay with | Received as | Total cost | Est. received today* |
|---|---|---|---|---|
| Walmart2World | Debit card | Cash | -2.44% | MX$3,795 |
| Xoom | Bank account transfer | Cash | -0.24% | MX$3,713 |
| Xoom | Debit card | Cash | 0.39% | MX$3,690 |
| Wise | Bank account transfer | Bank account | 1.26% | MX$3,658 |
| Walmart2World | Debit card | Cash | 1.67% | MX$3,643 |
| MoneyGram | Bank account transfer | Bank account | 1.71% | MX$3,641 |
| Ria | Debit card | Bank account | 2.24% | MX$3,622 |
| Ria | Bank account transfer | Cash | 2.31% | MX$3,619 |
The 1% remittance tax: who pays it and who doesn't
Since January 1, 2026, the US charges a 1% excise tax on remittance transfers funded with cash, money orders or cashier's checks (IRC §4475, One Big Beautiful Bill Act). Transfers funded from a bank account or with a debit or credit card are exempt, so the digital services at the top of the tables above skip it entirely. Our Spanish-language guide covers the proposed IRS regulations and every exemption: Guía del impuesto del 1% (in Spanish).
How to read this comparison
- Total cost = fee + exchange-rate margin. A "$0 fee" usually hides a worse rate; the World Bank adds both as a percentage of the amount sent.
- Speed and payout matter. Cash pickup is often pricier than a bank deposit; "less than one hour" services exist at every price point.
- The data is a quarterly mystery-shopping snapshot, the most neutral picture of the corridor that exists — it does not capture this week's promotions. Live provider prices are in the works.
Methodology and open data
Every row above comes from the World Bank's Remittance Prices Worldwide dataset (Q3 2025, collected 2025-08-04 a 2025-08-28) and the reference rate is the daily mid-market quote we log ourselves. The full table — every service, both amounts, 22 columns, with collection date and license on each row — is downloadable as CSV and JSON under CC-BY 4.0. Method details (in Spanish): Metodología.
Get an alert when it's a good day to send
We're building exchange-rate alerts: "tell me when $500 gets more than X pesos". Leave your email to be first in line.
Preguntas frecuentes
What is the cheapest way to send money to Mexico from the US?
In the World Bank's latest measurement (Q3 2025), digital services funded from a bank account or debit card were the cheapest US→Mexico options — several under 2% total cost on a $500 transfer, and a few with a negative cost (a promotional exchange rate better than mid-market). Paying cash at a counter is almost always the most expensive route, and since January 2026 it also carries the 1% federal remittance tax.
How many pesos will $500 get me in Mexico?
It depends on the exchange rate and the provider's total cost. With today's reference rate (1 USD = 18.5225 MXN, 2026-10-16) and the corridor's average cost (3.06% on $500), roughly MX$8,978; with the cheapest measured provider, about MX$9,487. The table on this page estimates it provider by provider.
Why does the exchange-rate margin matter more than the fee?
The margin is the gap between the mid-market rate and the rate the provider gives you. On larger transfers it outweighs the fixed fee: a 2% margin on $500 is $10, more than many fees. That is why this page compares total cost (fee + margin), not the advertised fee.
Does the 1% US remittance tax apply to every transfer to Mexico?
No. Under the One Big Beautiful Bill Act (IRC §4475) the 1% excise applies only to transfers funded with cash, a money order or a cashier's check. Transfers funded from a bank account or with a debit or credit card are exempt. Paying digitally is the simplest way to avoid it.
How current is this data?
The reference exchange rate updates daily. Provider costs come from the World Bank's Remittance Prices Worldwide, which mystery-shops each corridor every quarter; we always show the latest release with its date (Q3 2025) and publish the underlying rows as open data (CSV and JSON, CC-BY 4.0).