Before you read the list of banks that offer this service, you should know that the Condusef recommends that if you are going to receive remittances you should compare which is the institution that gives you the best exchange rate and the time it takes for the money to reach Mexico. .
Some companies have limits on the amounts of remittances so this is another point to consider.
Banks that receive remittances
Two of the main companies that send remittances are Western Union and MoneyGram and both firms have different alliances with banks and convenience stores.
At Western Union, the companies where you can collect your remittances are: Banco Azteca, Bancoppel, Caja Popular Mexicana, Calimax, Casa Ley, Elektra, Famsa, Farmacias Guadalajara, Fundación Dondé, Oxxo, Telecom, Seven Eleven, Waldos and Walmart.
In the case of MoneyGram, the banks where the payment can be made are Actinver, Aﬁrme, American Express, Banco Azteca, Bajío, CitiBanamex, Banco Famsa, Bancoppel, Banjercito, Banobras, Banorte/IXE, Banregio, Banseﬁ, BBVA, Caja Popular Mexicana, Ci Banco, Banco Compartamos, Fundación Dondé, HSBC, Banco Inbursa, Mifel, Multiva, Santander Serfin, Scotiabank Inverlat, Sura and Ve por Más.
How much does Mexico receive in remittances?
In 2022, Mexico reported a historic amount of remittances with 58,509.7 million dollars, 13.42% more than what was received in 2021.
The entities that received the largest amount in remittances were Jalisco, Michoacán and Guanajuato.