Better than XE or InstaREM for USD $ to MXN peso
OFX has consistently given me the best rate and fastest service to Mexican pesos. I read the review from the person who was having trouble setting up their Mexican account number with only 10 digits. While a Mexican bank account may be 10 digits, the Clabe used for all SPEI transfers is always 18 digits. Mexican banks should give you both. It’s also NOT your 16 digit debit card number. As for speed of transfer, whenever I use a wire transferring my funds to OFX, I get it the same day at my bank in Mexico. An afternoon wire might be next morning. All ACH transfers of funds to OFX usually takes no longer than 3-4 days. I’ve always had great customer service whenever I’ve called. Initial setup is a process, but if you give what they ask for, it’s fairly smooth. Just make sure bank account names match, addresses match, etc. and it’s a piece of cake. If you don’t think you are getting the best rate, call them. Also consider how much you are transferring and how frequently. I’m sure these factors may affect your rate. If you only transfer $500 every 6 months, why would you expect the very best rates? OFX has always given me the best rates directly from my US bank to Mexican bank without having to use their App to spend my money or having to deal with a quasi banking App such as Wise and the like.
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