What is the best way to transfer money from Mexico to the US?
February 22, 2015 7:35 PM   Subscribe

I have a close friend (in Mexico) who bought a second-hand guitar from me. We are trying to figure out a good way for her to make payments to me (in the US). Paypal seems convenient. Western Union does this sort of thing, I think. Has anyone done the research to let us know how to do this with the least transaction fees/overhead? Maybe bank-to-bank transfer or something?

Duty was paid at customs when I hand-carried it in. We agreed on a price, and were going to have her Paypal to my account.
posted by j_curiouser to Work & Money (4 answers total)
How about xoom?
posted by jander03 at 11:29 PM on February 22, 2015

You can do a bank-to-bank transfer but there will be bank wire fees at both ends, at least $15. Ask your bank for specifics and about the exchange rate.
posted by TWinbrook8 at 1:03 AM on February 23, 2015

I use Xe.com for this kind of thing (never from Mexico though). Your friend will transfer the money to Xe.com, who converts the currency, and then deposits the money with a free ACH transfer into your bank account. The exchange rates are fair, and there are no transaction fees unless your friend needs to do a wire transfer (which may be necessary from their bank to Xe.com).
posted by turtle time at 5:21 AM on February 23, 2015

posted by like_neon at 12:36 PM on February 23, 2015

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