Features

  • A bank account is required for both the individual sending the payment and the beneficiary receiving the payment.
  • All fees are paid by the consumer sending money. There are no deductions or fees for the beneficiary in Mexico.
  • The payment is initiated in U.S. dollars and converted into Mexican pesos using a highly competitive foreign exchange rate.
  • The foreign exchange rate is based on the FIX minus 0.21%. The FIX is the inter-bank reference foreign exchange rate that is determined and published by the Banco de México every day.
  • Currently, payments can only be sent from the United States to Mexico.
  • In order to initiate a payment to Mexico, the beneficiary’s CLABE account number (18 digits) or a debit card number (16 digits) is required.
  • The Federal Reserve Banks and Banco de México control and regulate the infrastructure and operation of Directo a México.

Benefits

Directo a México is a very competitive service in the money transfer market for sending payments from the United States to Mexico. Benefits include:

Efficient
  • Payments processed by the central banks in both countries.
  • Certainty of payment process and time schedule.
  • Certainty in fees, including the transfer and foreign exchange fees.
  • Transparency for all participants.
  • Next business day delivery to the beneficiary in Mexico.
Attractive
  • Competitive transfer fees. Consumers using Directo a México pay one of the lowest fees.
  • Competitive and transparent foreign exchange rate. The foreign exchange rate is taken from the FIX (inter-bank reference rate), which is calculated and published by the Banco de México, minus a 0.21% spread.
  • The same fee and foreign exchange rate is used regardless of the amount transferred.
  • The foreign exchange rate applied and the original amount in dollars is informed in the beneficiary’s account statement. For example in a 350 USD transfer the beneficiary in Mexico can look at their statement the following legend:

FX Rate correspond to the date when the payments are posted in Mexico.

US Dollars transferred 

Payment process:

The funds are available to the beneficiary in Mexico on the next banking day.

Ease in receiving the funds for the beneficiary in Mexico

The beneficiary can access the funds posted to his/her account:

  • Through any ATM (more than 29,000 all over Mexico). Remember to use an ATM belonging to your bank to avoid fees.
  • Paying with his/her debit card through Point of Sale Terminals in stores (more than 418,000 in Mexico).
  • Through a bank branch. Remember that this option may cost more.