$61B+ — Annual remittances received by Mexico (2024)
| Tier | Flat Fee | Est. Rate Margin | Est. Total Cost | Delivery Speed | Funding Method |
|---|---|---|---|---|---|
| Express | $3.99 | ~1.5–2% | ~$11–14 | Minutes | Debit card |
| Economy | $0 | ~1.5–2.5% | ~$7–12 | 3–5 business days | Bank ACH |
| Wise (reference) | $4–6 | ~0% | ~$4–6 | 1–2 days | Bank ACH / debit |
| USDC on Stellar (reference) | $1–3 | ~0.2% | ~$2–4 | < 1 hour | Exchange |
| Western Union | $5–15 | ~1–3% | ~$10–25 | Minutes–3 days | Varies |
~2% — Typical Remitly USD/MXN exchange rate margin
| Provider | Monthly Cost (Est.) | Annual Cost (Est.) | Best For |
|---|---|---|---|
| Remitly Express | ~$12–14 | ~$144–168 | Speed, cash pickup |
| Remitly Economy | ~$8–12 | ~$96–144 | Casual senders, promos |
| Wise | ~$4–6 | ~$48–72 | Bank-to-bank, regular senders |
| USDC via Bitso (Stellar) | ~$2–5 | ~$24–60 | Tech-savvy, max savings |
| Bank wire (SWIFT) | ~$40–60 | ~$480–720 | Avoid for this corridor |
For a $500 Express transfer, Remitly charges a flat fee of around $3.99 plus an exchange rate margin of roughly 1.5–2% (~$7.50–10). Total all-in cost is typically $11–14. Economy tier drops the flat fee to $0 but still applies the rate margin, so true cost is roughly $7–12. Always check the final MXN amount shown at checkout against the mid-market rate to verify.
Remitly Economy advertises $0 in transfer fees for USD to MXN, but it still applies an exchange rate margin of roughly 1.5–2.5% above the mid-market rate. This means a $500 Economy transfer still costs $7–12 in hidden fee. The $0 fee label refers only to the flat charge — not the total cost of the transfer.
Express transfers funded by debit card typically arrive within minutes for cash pickup and within a few hours for bank deposit via SPEI. Economy transfers funded by ACH bank transfer usually arrive in 3–5 business days, though many SPEI deposits clear within 1–2 business days once Remitly receives your funds.
Remitly supports most major Mexican banks for direct deposit, including BBVA Bancomer, Santander, HSBC, Banorte, Citibanamex (now Banamex), Scotiabank, and Inbursa. Cash pickup is available at Elektra, OXXO Pay, Chedraui, and other partner locations. Mobile wallet delivery is supported for Mercado Pago and BBVA wallet.
Yes. Wise typically charges $4–6 total with no exchange rate markup, making it cheaper than both Remitly tiers for bank-to-bank transfers. For maximum savings, USDC transferred on Stellar or Tron and off-ramped via Bitso to a Mexican bank account costs $2–5 total regardless of amount. Use RemitRoutes to compare live rates before sending.
Compare live rates across 370+ corridors on RemitRoutes · methodology.