Wise and Remitly are nearly even recommendations for sending money to bank accounts in Mexico. Remitly is recommended for larger transfers and for first transfers when promotions apply.
Wise: Best for the absolute best exchange rate. Wise uses the true mid-market exchange rate with no hidden markup. They charge a low, transparent variable fee based on how you fund the transfer (cheapest via bank transfer/ACH balance, pricier via card). Delivery to a Mexican bank account via SPEI is usually very fast (often minutes).[](https://wise.com/us/send-money/send-money-to-mexico)[[2]()](]()]()
OFX: Best for larger amounts. OFX drops or waives transfer fees entirely for many digital bank-to-bank transfers and offers strong tiered exchange rates if you are moving larger sums of money.
If you're sending money from the US to a specific bank account in Mexico, I'd compare Wise, Remitly, and Xoom first. The best choice depends on how much you're sending, because a low transfer fee doesn't always mean the recipient gets the most pesos.
Here's what matters most:
Exchange rate: How many Mexican pesos (MXN) you get per US dollar (USD).
Fixed transfer fee: What you pay to send the money, especially for a small transfer.
Bank deposit: Whether the service can deposit directly into the recipient's Mexican bank account.
Total received: The number of pesos that actually arrive after fees and exchange-rate markups.
My top choices
1. Wise — best for transparent pricing
(Best starting point)
Uses the mid-market exchange rate and shows its transfer fee separately. It supports deposits to most Mexican bank accounts, although some banks are excluded.
Offers direct bank deposits and promotional rates for eligible new customers. Check the standard rate after the introductory offer, since it can differ.
Another option for international transfers. Compare its actual bank-deposit quote against Wise and Remitly, including both the fee and the exchange-rate markup.
I can narrow this down based on the amount and how you'll pay. Two details make a big difference:
How much are you sending in USD?
$100
$500
$1,000
$2,000
Other amount
How will you pay?
Bank account (ACH)
Debit card
Credit card
Are you a new customer or already registered?
New customer
Existing customer
[Compare my options]
My advice: Don't choose based on the advertised fee alone. Compare the exact number of pesos the recipient will receive for the same dollar amount. That is the most reliable way to find the best deal.
