The Best Way to Send Money to Mexico

Bank Transfers
A secure way to send money to Mexico is through a banking account transfer. To utilize this method, you must have a bank account and the individual in Mexico must have an account as well. Gather the information needed to make the transfer, such as the recipient's bank name, address, ABA code and banking account number. Funds usually arrive within five business days, and may cost up to $45 per transaction.Certain banks make transferring money as convenient as possible. For example, Banamex has a deal with Wells Fargo that allows individuals to transfer money to Mexico, and if you pay a $10 annual fee and a $10 additional transfer fee for each transaction, a Banamex account will automatically be opened for your receiver. Other banks that provide money transfer services to Mexico include Bank of America, Armed Forces Bank and Bank of the West.
Western Union
Western Union is a U.S.-based company that provides international money transfers. There are a few options when considering sending funds this way.The first option is sending money that will be available in minutes. If paying by cash, you must go to an authorized agent. If paying by debit or credit card, you may transfer funds by phone, online or at an agent location. You will need the name, address and telephone number of your recipient. The fee to receive funds within minutes normally starts around $16, and increases with the dollar amount that you are sending.Western Union also offers a next-day service transfer in which the funds will arrive the following day. You must provide the same information as you would when sending same-day funds, but the fees will be less. Fees, however, still increase as the money you send increases. When sending by next-day service, you must do it in person through an authorized agent.Other wire transfer services can be found on a consumer Internet site offered by the Mexican government called Profeco. This site is updated monthly.
PayPal
An alternate, secure and convenient way to send money to Mexico instantly is through PayPal. The online service allows people to send and receive money in multiple currencies. You and your recipient must both have a PayPal account, an e-mail address, Internet access, and a checking or savings account linked to your PayPal accounts.To start, go to PayPal's secure website. After you log in, click on the 'Send' button and enter the recipient's e-mail address and the amount of money to send. Press 'Send' again and the money will instantly be in your recipient's PayPal account. Your receiver in Mexico may then transfer funds to their bank, which usually takes four or five business days.