Directo Mexico

What is Directo a Mexico?

Directo a Mexico is the most convenient way to transfer your money to Mexico. The payments are low-cost, fast, and secure. The money is transferred from your credit union account through the U.S. Federal Reserve Banks (Fed) to Mexico. There, the Banco de Mexico delivers it to your beneficiary's bank in Mexico. By using Directo a Mexico, your family receives more pesos for every dollar you send because Directo a Mexico offers the best exchange rate in the market. In addition, you have the certainty that your money will arrive in the bank account that you have chosen.

Why use Directo a Mexico?

Directo a Mexico provides the best features for you to send your money because this transfer is:

Secure. Transfers are carried out from and to the financial institution accounts that you choose. You and your family will not have to carry around cash or keep it in your house or you can take cash out of your credit union account at the branch when you need it or at any ATM, or you can make your purchases using a debit card. By transferring funds between financial institutions, your payments are governed by the payment rules in each country.
Fast. The money is available on the next business day.
Low-cost. We offer a favorable transfer fee and the best exchange rate, regardless of the amount that you send. Your family will receive more pesos in its account in Mexico for every dollar that you send.
Convenient. Directo a Mexico allows you to make automated transfers - you tell your credit union the days that you want the transfers to be sent automatically, and you won't have to go to the branch to stand in long lines or use your lunch hour or free time.

How to make transfers using Directo a Mexico

1. You need a credit union account. If you don't already have an account, we can help you open one. Talk to one of our sales associates.
2. If you already have an account with us and you need to send money to Mexico, ask one of our associates about Directo a Mexico.
3. Get the CLABE number or the number of the debit card of the person to whom you want to send money. We recommend providing the CLABE. The CLABE is printed on the account statements that your family receives from its bank in Mexico.
4. If your family in Mexico does not have a bank account, we may be able to help you pre-open one from here. Ask one of our associates about this program.

Frequently Asked Questions

Q: When does the money arrive in Mexico?
A: The funds are available in the bank account in Mexico after 2:30 p.m. (central time) on the business day after your credit union sends the money.

Q: Why should I have a credit union account?
A: Using your credit union to send money through Directo a Mexico enables you to receive a low transfer fee and a more favorable exchange rate. In addition, your money is safer in the credit union than in your pockets or underneath the mattress. Having an account is the best way for you and your family to build a credit history and to have access to other financial services such as a credit card or loan. A credit union account is essential for a better financial future.

Q: What is the CLARE?
A: It is the Clave Bancaria Estandarizada (Standardized Bank Key), a unique identifieró18 digits in lengthóassigned to each bank account in Mexico that guarantees that transferred funds are posted only to the account instructed by the client.

Q: Will I lose the money in my credit union account if I return to Mexico or am deported?
A: No. The money belongs to you, and you can easily access it through an ATM in Mexico using your debit card or by instructing your credit union to transfer it to the account that you have indicated and previously authorized.

Q: Does the receiver in Mexico need to have a bank account?
A: Yes. The beneficiary can receive money in his or her bank account and can withdraw it using a debit card at any ATM in Mexico. We recommend that the beneficiary in Mexico make cash withdrawals from the ATMs belonging to the bank where he or she has an account because the withdrawal fees will be lower or nothing.

Q: Will I still get a great exchange rate if I only send a small amount of money?
A: Yes. Every transfer always receives the best exchange rate in the market regardless of the amount.