Features
- The beneficiaries can either receive their payments in their bank account or they can cash their payments at any of the 1,580 TELECOMM-TELÉGRAFOS branches.
- All fees are paid by the consumer sending the money. There are no deductions or fees for the beneficiary in Mexico.
- The payment is initiated in U.S. dollars and converted into Mexican pesos using a highly competitive foreign exchange rate that is set daily by the U.S. Federal Reserve and the Central Bank of Mexico.
- If the beneficiary has no bank account in Mexico, the sender is still able to send the money, as it can be cashed at any TELECOMM-TELÉGRAFOS branch in Mexico. The beneficiary will require: a valid official ID (IFE card, passport, military record not more than 10 years old, Certificate of Consular, or INAPAM card); and the unique transference number (16 digits) that the sender must provide to the recipient.
- Next business day delivery of funds to the beneficiary in Mexico. FX Rate corresponds to the date when the payments are posted in Mexico.
Benefits
Directo a México is a very competitive service in the money transfer market for sending payments from the United States to Mexico. Benefits include:
- Competitive transfer fees. Consumers using Directo a México pay one of the lowest fees (generally $5 USD).
- Competitive and transparent foreign exchange rate. The foreign exchange rate is taken from the FIX (inter-bank reference rate), which is calculated and published by the Banco de México, minus a 0.21% spread.
- The same fee and foreign exchange rate is used regardless of the amount transferred.
Payment process:
The beneficiary has two alternatives to access the funds:
- Via his/her bank account:
- Through any ATM (more than 35,000 all over Mexico). Remember to use an ATM belonging to your bank to avoid fees
- Paying with his/her debit card through Point of Sale Terminals in stores (more than 467,000 in Mexico)
- Through a bank branch
- Via the nearest TELECOMM-TELÉGRAFOS branch:
- Any of the following IDs will be required to cash the payment: IFE card, passport, military record not more than 10 years old, Certificate of Consular, or INAPAM card
- The unique transference number (16 digits), informed to the beneficiary by the sender
