• When does the money arrive to Mexico?

Once the financial institution sends the money, it will be available the next bank business day no later than 2:00 p.m. (Central time).

 

• I want to send money to Mexico. Do I need to have an account with a financial institution?

Yes. You need to have an account with any financial institution in the United States participating in Directo a México to make transfers. Similarly, the beneficiary must have an account with a participating financial institution in Mexico.

 

• What institutions participate in the service?

You can find the institutions in the United States and Mexico where you can open accounts to use Directo a México here .

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• Is there a maximum amount you can send or receive?

Directo a México does not have a maximum amount per transaction; the financial institution that originates the payment in the US may establish an amount limit, as well as the fee. The amount limit for the beneficiary is defined by the level of operation of the account that the beneficiary opens in Mexico.

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• Does the exchange rate depend on the sent amount?

No matter the amount you send, you will always receive the best exchange rate on the market.

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• What exchange rate is used?

The most competitive exchange rate is applied for this type of transfers, which takes as a reference the FIX or "interbank exchange rate" that Banco de México determines and publishes on the day the money is deposited in the beneficiary account in Mexico.

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• What is CLABE?

It is the Standardized Basic Code (CLABE), an 18-digit number assigned to each bank account in Mexico to identify the account to which the money will be sent to make sure it reaches the person you want. Unlike the debit card number associated to the account, this number does not change.

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• What is L@Red de la Gente?

It is a commercial alliance between Banco del Bienestar and 159 Popular Savings and Credit Societies, which together make up the largest financial network in Mexico, with more than 2,400 branches with presence in more than 930 municipalities throughout the country. For more information visit www.lareddelagente.com.mx. Through L@Red de la Gente you can receive payments from Directo a México in an easy, fast and secure way.     

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• What information do I need to open accounts in the United States?

Guide to opening an account at a bank or credit union.

 

• What are the fees?

Customers pay a fee of about 3 USD, depending on the originating financial institution, while the beneficiary receives the FIX exchange rate of the day minus a 0.21% fee. The latter without considering any cost for ATM withdrawals.