The cheapest options, ranked
Across 2025-2026 rate recordings, Paysend averaged the highest rate (20.41 MXN per dollar), followed by Wise (19.97) and Sendwave (19.95). The gap between the best and worst provider on a $500 transfer is roughly 1,243 MXN. Wise charges about $6.43 with no rate markup; Western Union averages a 2.8% margin. Compare them with our calculator.
Best for each situation
- Bank deposit: Wise or Paysend. Near the interbank rate with low fees; Wise delivered 20,500 pesos on $1,000 in independent tests.
- Speed: Remitly Express, Paysend or Xoom deliver within minutes.
- Cash pickup: Western Union has 20,000+ pickup locations in Mexico including OXXO and Walmart stores. MoneyGram is similar.
- Budget option: Remitly Economy (3-5 days) costs less than Express; Sendwave offers low fees with good rates.
- Recipient bank details: you will usually need the recipient's full name and CLABE (18-digit bank account number).
Typical costs (October 2026)
| Provider | Typical fee ($500) | Rate margin | Best for |
|---|---|---|---|
| Wise | ~$4.99 | ~0% | Bank deposits, transparency |
| Paysend | ~$2 | ~0.5% | Best average rate |
| Sendwave | low | ~1% | Budget transfers |
| Remitly Express | ~$4.99 | ~1.5% | Speed |
| Western Union | ~$12.50 | ~2.8% | Cash pickup |
| MoneyGram | ~$11 | ~2.5% | Cash pickup |
Typical figures as of October 2026. The peso strengthened to around 17-18 per dollar in early 2026; rates move daily, so check provider sites before sending.
Tips that save real money
- Compare the pesos received, not the headline fee or rate.
- Bank wires (for example $45+ via Santander) are far more expensive than the apps.
- Card-funded transfers cost more; fund with a bank account where possible.
- Remitly's first-transfer promos can beat its standard rate; do not assume the promo is ongoing.