Apps for sending money to Mexico are replacing bank transfers, due to the new generation of mobile apps that offer a faster, safer and more convenient way to make money transfers.
This growing popularity of transfer apps is due to several factors:
- Quick or real-time transfers, ideal for emergencies or to cover unforeseen expenses.
- Send money from the comfort of a mobile device without having to go to a bank branch.
- Apps usually offer detailed information on transaction fees, allowing users to compare and choose the best option.
- More robust security measures, giving users peace of mind when making their transactions.
In this article, you will learn which are the best apps for sending money to Mexico, their features, costs and benefits.
Apps to send money to Mexico
When choosing an app to send money to Mexico, it is essential to consider several factors to make the best decision. These are some of the most important factors:
- Costs: transfer fees, exchange rate, and additional costs.
- Transaction speed: delivery time, whether business days or other aspects that influence the immediacy of the transfer are important.
- Payment and withdrawal methods: whether the operation is carried out entirely in the app, whether the person receiving the money has more than one option to withdraw the money.
- Security: whether it has data encryption, whether the company complies with current regulations, and whether it offers fraud protection measures.
- Limits and restrictions: maximum daily amount, as well as documents required to send and receive money.
Below we share a list of apps to send money to Mexico so you can compare and choose.
1. Elektra Go app
Elektra Go is a mobile app supported by Elektra, one of the leading department stores in Mexico. This app seeks to offer its users a more convenient and accessible experience, allowing them to send money from the United States to Mexico and other Latin American countries.
Elektra Go Features:
- Offers low fees on app money transfer and money services.
- You can use your Elektra Go Prepaid Mastercard® to make everyday purchases in stores and online.
- Add cash to your account at over 90,000 participating retailers.
- Set up a direct deposit of your payroll.
- Offers competitive exchange rates and transparent fees.
- Send money to friends and family in Mexico and 15 countries in Latin America
- Send money to Banco Azteca accounts or any Elektra department store branch in Mexico for cash pickup.
- Customer service in English and Spanish to answer questions.
2. Remitly
Remitly is a financial app that has positioned itself as a reliable option for sending money abroad. The app offers a variety of payment methods and withdrawal options, making it flexible to suit the needs of different users.
Features:
- Many transfers are completed within minutes or hours.
- You can track your transfer from the moment you initiate it until it reaches its destination.
- Fees may vary depending on the transfer amount, payment method, and destination.
3. Xoom (by PayPal)
Xoom lets you send money directly to bank accounts, mobile wallets, or for cash pick up at a wide network of agent locations. The app offers a variety of payment options, including credit cards, debit cards, and wire transfers.
Features:
- Many transfers are completed within minutes.
- You can track the status of your transfer at any time.
- You can send money to a variety of countries and to different types of accounts.
- You can choose from various payment methods to make your transfers.
4. Intermex
Intermex (International Money Express) is a company with a long history of sending remittances to Latin America. Its mobile app seeks to offer a digital experience to its customers, complementing its traditional services.
Features:
- Specializes in sending money to Latin American countries.
- Offers multiple options for depositing money.
- Offers multilingual customer service to help you with any questions or issues.
- Compared to other more modern apps, it may have fewer additional features.
5. MoneyGram
MoneyGram is a well known money transfer company. It has managed to build a wide network of agents and offer a reliable service to millions of users.
Features:
- Allows you to send money to virtually anywhere in the world.
- Offers multiple options for depositing money, including credit cards, debit cards, and bank transfers.
- You can track the status of your transfer in real time through the app.
- Compared to some newer apps, MoneyGram's interface can feel a bit dated.
6. Western Union
Western Union is one of the oldest money transfer companies. It has managed to build one of the most extensive agent networks. Its mobile app seeks to modernize its services and offer a more digital experience to its users.
Features:
- Western Union lets you send money virtually anywhere in the world.
- Recipients can pick up cash at a vast network of authorized agents around the world.
- It offers competitive exchange rates and transparent fees.
- Like other remittance companies, Western Union charges fees for its services.
7. PayPal
While it is primarily known for facilitating online transactions between buyers and sellers, its mobile app offers a wide range of services, including sending money to family and friends.
Features:
- Uses high-security encryption to protect your financial information.
- The interface is intuitive and easy to navigate.
- PayPal is accepted by millions of merchants worldwide.
- It charges fees for some transactions, especially for international transfers.
How to choose an app to send money to Mexico?
Choosing an app to send money to Mexico can be a bit overwhelming, given the sheer number of options available. These recommendations can help you make an informed decision:
1. Compare transfer fees
- Compare the fixed and percentage fees charged by each app.
- Check if there are additional charges for services such as currency conversion or cash withdrawal.
2. Exchange rate
- Check that the app clearly displays the exchange rate that will apply to your transfer.
- Compare the exchange rates offered by different apps to find the best deal.
3. Transfer speed
- Find out how long it takes for the money to reach its destination.
- Some apps offer quick transfers, which can be useful in emergencies.
4. Security and trust
- Research the reputation of the company and read reviews from other users.
- Make sure the app uses high-security encryption to protect your data.
- Check if the company is regulated by the appropriate financial authorities.
5. Ease of use
- The app should be easy to use and navigate.
- All relevant information, such as rates and delivery times, should be clearly stated.
6. Receiving Options
- Check the different withdrawal options available in Mexico.
- If the recipient is going to pick up the money in cash, make sure there is a wide network of agents in the area.
7. Sending Limits
- Some apps impose limits on the amount of money you can send in a certain period.
8. Customer Support
- Make sure the app offers good customer service in case you have any questions or problems.
- Check if customer support is available in English and Spanish, if you are sending money from the United States to Mexico.
9. Mobile Compatibility
- Make sure the app is compatible with your mobile device.
- Check if the app is regularly updated to offer new features.
FAQs about sending money to Mexico
- What is a great app to send money to Mexico?
The best app for you will depend on your specific needs. Each app has its own advantages and disadvantages, such as fees, transfer speed, withdrawal options, and additional features.
- How much money can I send to Mexico using apps?
Sending limits vary depending on the app and payment method you use. Some factors that can influence limits include account type, payment method, and regulations.
For specific limits, check the information for each app.
- Is it safe to send money to Mexico and Latin America using mobile apps?
Yes, it is safe to send money to Mexico and Latin America using mobile apps, as long as you choose a reputable app and take the necessary precautions. Opt for apps from established, reputable companies. Use strong passwords and avoid connecting to unsecured public Wi-Fi networks.
- What fees do apps charge to send money to Mexico?
Fees vary depending on the app, transfer amount, and payment method. The main types of fees are:
- Fixed fee for each transfer.
- Percentage fee of the total amount of the transfer.
- Currency conversion fee.