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PROFECO publishes weekly a comparative analysis of different institutions offering remittances services. The information is grouped by U.S. city: Chicago, Los Angeles, New York, Dallas, Miami, Houston, Sacramento, San Jose, and Indianapolis. Additionally, PROFECO offers an exclusive site for Directo a México services.

PROFECO collects all of the information from each institution, including the fees charged to the sender of a remittance payment. Also, they ask for the foreign exchange rate that is used for the payment as well as some characteristics of the service, such as:

  • Time required to settle the payment order
  • Number of branches in the U.S.
  • Distribution channel in Mexico

Service Options for originators and beneficiaries:

  • If free phone calls or messages are offered
  • Ability to deposit in a bank account
  • Cancellation of payment with no additional costs
  • Withdrawal by debit card

PROFECO allows the remittance services users to compare the fees that different institutions charge for the service.

If your institution participates in Directo a México, you can advertise your remittance services for free in PROFECO. All you need is to download the corresponding format, account to account or account to receiver, fill it out including the fees you charge for the service, and send it to enviosdedinero@profeco.gob.mx and directoamexico@banxico.org.mx, or you can call the contact number (52 55) 56256700 ext. 1221, 1013 and 1709 to get more information about the program.