Sending money home is one of the most important things many families in El Paso do every month. Before you send, though, it helps to know the real cost to send money to Mexico. The total is more than the transfer fee. In this guide, we explain every part of the cost, what to check on your receipt and how Metro Money Financial can help you in person.
What Makes Up the Cost to Send Money to Mexico
The cost to send money to Mexico usually has three parts. First, there is the transfer fee. Second, there is the exchange rate. Third, there may be taxes. Together, these parts decide how many pesos your family receives.
The Transfer Fee
The transfer fee is what the provider charges to move your money. It can change with the amount you send, the delivery method and how you pay. For example, a cash pickup may cost a different amount than a bank deposit. That is why you should always ask for the fee before you pay.
The Exchange Rate
The exchange rate is how many pesos you get for each dollar. Providers often add a margin to the rate. So a transfer with a low fee can still cost more if the rate is weak. In other words, always compare the final amount in pesos, not only the fee.
Taxes on Cash Transfers
Since January 1, 2026, a 1% federal excise tax applies to many transfers sent from the U.S. when you pay with cash, a money order or a cashier’s check. The provider collects the tax when you send. For instance, on a $300 cash transfer, the tax is $3. Your receipt shows this amount.
Read Your Receipt to See the Full Cost to Send Money to Mexico
Federal rules protect you when you send money abroad. Before you pay, the provider must show you the key details in writing. Then, after you pay, you get a receipt with the same information.
On your receipt, check these items:
- Transfer amount: the dollars you are sending.
- Fees and taxes: what you pay on top of the transfer.
- Total cost: the full amount you pay today.
- Exchange rate: the rate used for your transfer.
- Total to recipient: the pesos your family will get.
- Date available: when the money will be ready.
In most cases, you also have 30 minutes after you pay to cancel the transfer for a full refund. However, this does not apply if the money was already picked up or deposited.
How to Lower the Cost to Send Money to Mexico
A few simple habits can help you get more out of every dollar you send.
- Compare the total in pesos. This number shows the real value of the transfer.
- Send fewer, larger transfers. One transfer usually costs less than several small ones.
- Choose the right delivery method. Cash pickup and bank deposit can have different costs.
- Check the receiver’s details. A wrong name or account number can lead to delays.
- Plan ahead. Sending early helps you avoid rushed decisions in busy seasons.
Send Money to Mexico With Metro Money Financial
At Metro Money Financial, we help you send money to Mexico in person, with clear information at every step. We offer Western Union money transfers at our El Paso offices. Before you pay, our bilingual team reviews the fee, the exchange rate and the amount your family will receive.
Our offices are on Magoffin Ave. and N. Loop Dr. in El Paso, Texas. Visit us or call +1 915 351 1658 for help with your next transfer.
Frequently Asked Questions
Is the exchange rate the same every day?
No. Exchange rates change often, even during the same day. For that reason, check the rate on your receipt each time you send.
Do I pay the 1% tax if I pay with a debit card?
The 1% federal tax applies when you fund the transfer with cash, a money order, a cashier’s check or a similar physical payment. Transfers funded from a U.S. bank account or card are generally not subject to it.
Does my family pay a fee to receive the money?
In some cases, the receiving bank or location may charge its own fee. Ask about it before you send, so your family knows what to expect.
Can you tell me the cost before I send?
Yes. Our team can show you the fee, the rate and the total to recipient before you decide.