Are you currently in the US and wondering how to transfer money to a Mexican bank account? If you have loved ones or business partners south of the border, a money transfer service like Western Union can help you send them money fast.
With Western Union, you can easily send money directly to accounts at major Mexican banks like Banco Azteca, Banamex, or BanCoppel. Initiate your transfer in minutes either online, over the phone, or at an agent location, and your recipient can get the funds as soon as the same day.
Here’s a closer look at how the process works, starting with a list of major Mexican banks and their SWIFT codes and concluding with seven simple steps to transferring money to an account in Mexico.
Mexican banks and their SWIFT codes
As you shop around for a money transfer service, you’ll find that each company has a list of Mexican banks to which it sends transfers. For example, Western Union processes transfers to more than 20 popular banks in Mexico, including Banorte, BBVA Bancomer, Santander, and more.
You may need a SWIFT code, also known as a Business Identifier Code (BIC), to complete transfers to Mexican bank accounts. These are 8- to 11-digit alphanumeric codes used to identify financial institutions and banks. They’re used when banks process international transfers and may be requested by some transfer providers.
We’ve provided SWIFT codes in this list of major Mexican banks, which are widely considered some of the best banks for expats in Mexico who need to receive transfers from the US:
| Bank Name | SWIFT code/routing number | Transfer time via Western Union |
| Banamex | BNMXMXMMXXX | Real time |
| Banco Azteca | AZTKMXMMEKT | Real time |
| Banco Base | BBSEMXMXXXX | 0-1 business days |
| Banco del Bajio | BJIOMXML | 0-1 business days |
| Banco Monex | MONXMXMMXXX | 0-1 business days |
| BBVA Bancomer (formerly Bancomer) | BCMRMXMMPYM | Real time |
| BanCoppel | N/A | Real time |
| Banejercito | EJERMXMM | 0-1 business days |
| Bank of America | BOFAMXMXMEX | 0-1 business days |
| Banorte | MENOMXMTXXX | 0-1 business days |
| BANSI | SNABMXM1 | 0-1 business days |
| CIBanco | CIMXMXMM | 0-1 business days |
| HSBC | BIMEMXMMXXX | 0-1 business days |
| Inbursa | INBUMXMMXXX | 0-1 business days |
| JP Morgan | CHASMXMXXXX | 0-1 business days |
| Santander | BMSXMXMMXXX | Real time |
| Scotiabank | MBCOMXMM | Real time |
How to send money from the US to a bank in Mexico
You can quickly send money to Mexico online or via nearby agent location. Here’s how it works in seven simple steps.
1. Plan ahead to understand delivery times
To get an accurate idea of when your money transfer will arrive, check the business hours and processing times of the recipient’s bank and the money transfer service you’re considering.
For example, when using Western Union, transfers can take anywhere from minutes up to a full business day. We offer accelerated transfers to select Mexican banks and same-day transfers to the rest (if transactions process before local bank deposit cut-off times). However, note that your recipient’s bank may have different deposit cut-off times and business hours, which can cause delays.
2. Collect and double-check your recipient’s banking information
To transfer money to a Mexican bank account, you’ll need to collect the following information about your recipient:
- First and last name: The recipient’s name must match their government-issued ID.
- Bank name: The name of the bank where your recipient holds an account.
- Bank account number/CLABE (for SPEI banks)/Debit card: Debit cards are typically 16 digits, while the CLABE (Clave Bancaria Estandarizada, or “standardized banking code”) is 18 digits. SPEI (Sistema de Pagos Electrónicos, or “electronic payment system”) is Mexico’s interbank payment system.
- SWIFT code: You’ll need the recipient bank’s SWIFT code when transferring money from the US.
- Address: The full address of your recipient, including the street address, city, state, ZIP code, and city code (just in case).
- Phone number: An active phone number where the recipient can be reached.
Inaccurate information can cause delays, so it’s worth taking a few extra minutes to ensure everything’s correct.
3. Choose a money transfer service
The next step is to decide on a money transfer service. When comparing your options, consider the following factors about each company:
- Sending limits: The amount of money you can send to recipients in Mexico.
- Fees: The fee each provider charges to send the transfer (it can vary based on how you fund the transfer).
- Exchange rates: The exchange rate and how much it will cost you.
- Delivery times: The amount of time the service provider takes to send transfers.
- Bank support: The Mexican banks to which the service provider sends transfers.
- Ease of use: The ease of sending the money (i.e., easy online processes, mobile apps, nearby in-person locations, etc.).
When it comes to the costs, pay close attention to the fees and exchange rates. The latter can get expensive with some providers.
For example, suppose Provider A offers an exchange rate of 1 USD (the currency code for the US dollar) to 16.71 MXN (the currency code for Mexican pesos), Provider B offers 1 USD to 16.47 MXN, and neither charges a transfer fee. If you send 4,500 USD to someone in Mexico, the recipient will receive 75,211 MXN from Provider A and 74,145 MXN from Provider B—a difference of 1,066 MXN.
Western Union’s currency converter can give you an idea of the latest exchange rates.
4. Set up an account with the transfer service
Once you decide how you want to transfer money to a Mexican bank account, you may need to set up an account with the service provider. Requirements will vary by provider and transfer type.
For example, Western Union requires you to create a username and password for online transfers. However, registration isn’t required if you request a transfer at an agent location or over the phone with customer service. That said, you will need to present a valid, government-issued photo ID for in-person transfers.
5. Enter the recipient’s bank details and transfer amount
The next step is to set up the transfer. You’ll enter the amount you want to send and how you want the recipient to receive it. In the case of sending money to a bank account in Mexico, you’ll select the option to deposit the money into the recipient’s bank account.
From there, select how you want to fund the transfer. For example, you may want to pay for it using cash in person or a credit or debit card online. The final step is to add the recipient’s details, such as their name, the bank name, and the CLABE.
6. Fund your transfer
Next, fund the transfer via your preferred payment method. Note that funding options and the accompanying fees vary by service provider. With Western Union, for example, paying for a $4,000 transfer to a Mexican bank account is transfer fee-free if you pay through a bank account, debit card, or Google Pay account. However, transfer fees apply if you pay with a credit card or in-store with cash.
7. Review and confirm the transfer
The final step is to review the details of the bank transfer. Check to ensure the information you provided is correct, including the balance amount, the recipient’s details, and your payment details. Also, be sure to review the total amount your recipient will receive after fees. If all looks good, confirm the transfer and take note of the reference or tracking number so you can track your transfer.
Send money online or visit a nearby agent location
With Western Union, you can easily send money online to your recipient’s bank account. Or stop by one of the thousands of Western Union agent locations in the US, and we’ll walk you through the process. Western Union deposits money transfers directly into the receiver’s bank account. Start sending money to a bank account today.
FAQs
How do you deposit money into a bank account in Mexico?
You can transfer money into a Mexican bank account through money transfer service providers or banks that process international transfers. Once you find a facilitator, the transfer process requires you to enter the amount you want to send, provide information about your recipient, fund the transaction, and confirm everything is correct. From there, the funds will be sent.
Do Mexican banks have routing numbers?
Mexican banks have CLABEs, 18-digit numbers that combine account and routing information. They identify a bank’s location and an individual’s account number. You’ll need to provide your recipient’s CLABE to transfer money into their Mexican bank account.
Can you send money from a US bank account to a Mexican bank account?
Yes, you can send money from a US bank account to a Mexican one. Doing so can be quick, easy, and affordable through money transfer services like Western Union. Recipients in Mexico can have the funds in their accounts as soon as the same day.
