What It Costs to Send Money to Mexico from the US
In the 2024 Q3 World Bank Remittance Prices Worldwide quarterly survey, sending USD 200 from the United States to Mexico carried a median total cost of 4.48% and an average total cost of 4.94% of the amount sent. Total cost in this survey combines two components: the explicit transfer fee charged by the provider and the exchange-rate margin, which is the difference between the mid-market rate and the rate actually applied to the transaction. Both are expressed together as a percentage of the USD 200 send amount.
Across the 46 providers surveyed in that same 2024 Q3 snapshot, quoted total costs ranged from a low of -0.08% to a high of 17.50%, illustrating substantial variation in the market at that point in time. The cheapest surveyed provider in the 2024 Q3 data was Walmart2World. This reflects conditions recorded during that specific survey period and may not represent current pricing.
Costs within a single provider can also differ depending on the payment method used (such as bank account or debit card), the payout method available to the recipient, and the amount being transferred. The World Bank updates this survey each quarter, so figures shift over time. The per-provider table below displays the individual quotes as captured in the 2024 Q3 survey.
Surveyed providers (2024 Q3)
| Provider | Type | Pay-out | Speed (surveyed) | Total cost, $200 | Total cost, $500 |
|---|---|---|---|---|---|
| Walmart2World | Bank | Agent | Less than one hour | -0.08% | -0.08% |
| Walmart2World | Bank | Internet | Less than one hour | 1.41% | 1.41% |
| Ria | MTO | Internet | 3-5 days | 2.00% | 1.10% |
| Wise | MTO | Internet | Less than one hour | 2.38% | 2.08% |
| Ria | MTO | Internet | Less than one hour | 2.45% | 1.28% |
| Viamericas | MTO | Internet | 2 days | 2.47% | 0.97% |
| Viamericas | MTO | Agent | Less than one hour | 2.49% | 0.99% |
| Western Union | MTO | Internet | Less than one hour | 2.96% | 2.06% |
| Wells Fargo | Bank | Bank branch | 2 days | 3.24% | 1.34% |
| Wells Fargo | Bank | Bank branch | 2 days | 3.35% | 1.40% |
| Pangea | MTO | Internet | Less than one hour | 3.44% | 2.25% |
| Western Union | MTO | Internet | Less than one hour | 3.49% | 2.39% |
| Western Union | MTO | Internet | 3-5 days | 3.49% | 1.99% |
| MoneyGram | MTO | Internet | Less than one hour | 3.67% | 2.97% |
Total cost = transfer fee + exchange-rate margin, as a percent of the amount sent, at the two surveyed send amounts ($200 / $500). Surveyed prices, not live quotes.
Estimate your transfer cost →Source: The World Bank, Remittance Prices Worldwide, available at http://remittanceprices.worldbank.org (CC BY 4.0). Figures are from the 2024 Q3 survey — surveyed prices, not live quotes.