Remittances: These are the most expensive companies to send money from the US to Mexico

(Photo: Quartoscuro)

There are only a few days left until Christmas Eve and Christmas, and at this time of the year, the number of conversions he made Native Americans To send money to family members in Mexico.

December is a very important month for this type of transaction. Which is why the Federal Consumer Prosecutor’s Office on Monday (brovko) Urging the citizens residing there United States of America Inform yourself and choose the company they use to make the conversion carefully, because the differences between one company and another are very large.

To explain this difference, the agency provided the figures in October. That month, the amount of remittances that arrived in Mexico from the United States $4.819 million. The average quantity of each shipment 350 dollars All in all, it was the best choice ULink Corporation.

In October, there were $4.819 million US heroes and heroines sent to their mother or wives, with an average of $350 to transfer each. […] The remittances that heroines and heroes make from the United States have increased a lot, thus boosting our economy. It was the best choice to send money Yelink. For an average transfer of $350, ULink gave us 7,430.50 cents in peso,” the Profeco chief explained, Ricardo Sheffield.

That is, in October, for a transfer of $350, ULink delivered 7,430.50 cents in Mexico. This is far from worst option,” what was Western UnionThey gave 7,072 pesos for the same amount ($350).

“Compatriots and fellow citizens, it’s a big difference, and that’s why You have to choose the sender well There in the United States. 8.5% difference. If they choose well, their dollars will generate more there in Mexico, which has already been converted into pesos,” Sheffield noted. “Coming up an important month for remittances because many are sending their strongest shipments in this month of December,” he added.

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To choose the most profitable option, it is important to attend Exchange rate and commission That each company charges. In this sense, Profeco has published a list Who is responsible for sending remittances? In cash, so the consumer can make an informed decision in December.

According to this data, always going back to October, it was the worst remittance companies to send cash Western Union, WorldDream, Dulux, Xoom, MoneyGram. We explain everything you want to know.

(Photo: EFE/Rayner Peña R.)
(Photo: EFE/Rayner Peña R.)

The five worst options for sending cash transfers:

While Ulink gave 7,430 pesos per $350, Western Union gave only 7,072.56. This made it the worst choice for consumers who use these types of services. The numbers below refer to the amount in pesos that the aforementioned companies handed over in exchange for a transfer of $350, in the month of October.

1. Western UnionHe got 7,072.56 pesos ($350). He charged a very high commission of eight dollars and a bad exchange rate of 20.68 pesos for every dollar.

2. WorldDreamtAwarded: 7168.84 pesos ($350). His commission was $2.99, and his exchange rate was extremely low, at 20.66 pesos.

3. Dulux: I gave 7188.49 pesos. The commission was $8.99, and the exchange rate was $21.08.

4. Xoom: 7,199.98 pesos were delivered. His commission was $3.99, and the exchange rate was 20.81.

5. moneygramDelivery: 7,202.56 pesos. The commission was $3.99, and the exchange rate was 20.82.

Top five options for sending cash transfers:

As we explained, Ulink was the best remittance company in October, charging no commission and offering a very good exchange rate of 21.23 pesos. Thus, for every $350, 7,430 pesos were delivered in Mexico. The numbers shown here refer to funds granted by each company, with an average transfer of $350.

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1. U link: Awarded 7,430 pesos ($350). He did not take commission and offered to change 21.23 pesos.

2. Pagaphone smart payment: 7,347.40 pesos ($350). His commission was quite high, $10, but the exchange rate was very good, 21.62 pesos, which allowed him to enter the top of the top five.

3. Wells Fargo: 7,255.70 pesos delivered. He charged $5 commission and the exchange rate was 21.03.

4. He follows: Delivery 7230.41 pesos. The commission was $9.67 and the exchange rate was 21.25 pesos.

5. to push: 7,225.74 delivered. pesos. His average commission was $2.50, and he offered an exchange rate of 20.79 pesos.

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