Send Money to Mexico from Spain

Got family in Mexico, a supplier in Guadalajara, or a friend in Oaxaca who always pays for dinner when you visit?
If you’re living in Spain and need to send euros to pesos, getting a great EUR-MXN exchange rate can mean the
difference between “nice little bonus” and “where did my money go?”.

The good news: you have more options than ever before. The bad news: they’re not all cheap, and some hide their
profit in places you don’t immediately see. In this guide, we’ll walk through how EUR-MXN exchange rates work,
how to compare providers, which fees to watch for, and practical tips to make sure as many pesos as possible
arrive safely in Mexico.

How EUR-MXN Exchange Rates Really Work

When you send money from Spain to Mexico, your euros are converted to Mexican pesos at a specific rate called
the EUR-MXN exchange rate. There are three key concepts to understand:

1. The mid-market rate (the “real” rate)

The mid-market rate is the halfway point between the buy and sell prices you see on the foreign
exchange markets. Currency sites and fintech providers like Wise, XE, and Instarem highlight this rate and often
label it as the “real” or “mid-market” rate.

As of late November 2025, the mid-market EUR-MXN rate is hovering around 21.29 MXN for 1 EUR,
though it moves throughout the day. If you see a provider offering much less
than that, the difference is usually their hidden profit.

2. Markup on the exchange rate

Most banks and some traditional money transfer companies don’t show you the mid-market rate. Instead, they
quote you a rate with a built-in markup. For example:

• Mid-market: 1 EUR = 21.29 MXN
• Bank’s rate: 1 EUR = 20.50 MXN

If you send 1,000 EUR:

• At mid-market (~21.29): about 21,290 MXN
• At 20.50: only 20,500 MXN

That’s a difference of 790 MXN just from the ratenot even counting fees. Over a year of regular
transfers, that can add up to hundreds of euros.

3. Visible and hidden fees

Providers make money in two main ways:

• Flat fees – for example, €2.99 per transfer.
• Exchange rate markup – the “spread” between the rate they give you and the mid-market rate.

Remittance services such as Remitly and others sending from Spain to Mexico often advertise low flat fees or
“no fees” for new customers, but they may still include a margin in the EUR-MXN rate.
Online comparison sites that track both the rate and the fee are your best friend here.

Main Ways to Send Money from Spain to Mexico

Let’s look at the big categories of options so you can decide what best fits your needs.

Banks in Spain (traditional wire transfers)

You can send money from your bank in Spain (for example, Santander, BBVA, CaixaBank) straight to a bank account
in Mexico. This feels safe, but it’s often:

• More expensive: banks commonly charge a sending fee plus a poor exchange rate.
• Slower: it may take 2–5 business days, especially if intermediary banks are involved.
• Less transparent: you may not see the exact FX margin or intermediate fees up front.

Studies of international wire transfers show outgoing international wires often cost the equivalent of
$45 or more in fees, not counting the rate markup. For small or frequent remittances,
that’s usually not the best deal.

Online money transfer providers

Dedicated money transfer services and fintech apps have become the go-to way to send money from Spain to Mexico.
These providers tend to:

• Use rates close to the mid-market.
• Charge small, upfront transfer fees.
• Offer fast delivery to bank accounts, cash pickup, or mobile wallets.

Comparison tools and reviews frequently highlight providers like Wise, Remitly, WorldRemit, Western Union,
MoneyGram, XE, and others as major players for transfers to Mexico.
Many of them can deliver funds within minutes to a few hours, especially for cash pickup.

Cash pickup and pay-out networks

If your recipient doesn’t have a bank accountor simply prefers cashcash pickup at locations like OXXO,
Elektra, BanCoppel, Banco Azteca and similar outlets across Mexico is extremely common. Several providers
sending from Spain to Mexico support:

• Cash pickup at thousands of locations.
• Deposits into local bank accounts (like BBVA México, Banorte, etc.).
• Sometimes, deposits to debit cards or mobile wallets.

Remitly, for example, advertises specific partnerships with Mexican retailers and banks for both bank deposits
and cash pickup. Western Union and MoneyGram also have extensive agent networks
across Mexico.

How to Compare Providers and Find the Best EUR-MXN Rate

There’s no single “always best” provider. The winner depends on the amount you send, how fast you need delivery,
and whether your recipient wants bank deposit or cash. Here’s how to compare them like a pro.

1. Start with live comparison tools

Websites that specialize in comparing money transfer services show real-time EUR-MXN rates and total costs for
sending from Spain to Mexico. Platforms like Monito, CurrencyExpert, RemitFinder, and others routinely track
multiple providers for the same route and amount.

For example, recent comparisons have shown:

• Remitly often among the top rates for EUR-MXN, with a competitive rate and a small fee.
• Other specialist FX firms like Regency FX occasionally offering strong rates for larger amounts.
• Banks falling behind due to higher markups and fixed fees.

These tools don’t just show rates; they often list transfer speed, payment methods (bank transfer, card), and
payout options.

2. Look at the total cost, not just the fee

A classic trick: “0 EUR fee!”but the exchange rate is quietly 3–4% worse than mid-market. NerdWallet and other
financial comparison resources consistently recommend focusing on total cost: how many pesos your
recipient actually receives after fees and rate markup.

To compare:

1. Check the provider’s rate vs the mid-market rate.
2. Subtract any fixed or percentage-based fees.
3. Calculate the final MXN amount for the same EUR amount.

The provider that delivers the most pesos winseven if the fee looks slightly higher.

3. Consider speed vs. price

Need the money there today? Instant or same-day transfers for EUR-MXN may cost slightly more, but
for emergencies or time-sensitive payments, that’s often worth it.

• Cheapest: bank transfer funded through your Spanish bank account, delivered in 1–2 days.
• Fast: card-funded transfers or cash pickup, sometimes arriving in minutes.

Services like WorldRemit highlight that they can be significantly cheaper than banks while still offering
fast delivery.

4. Check limits, verification, and support

Especially when sending larger amounts (for example, paying for property, tuition, or business invoices),
you’ll want to confirm:

• Maximum daily or monthly limits per provider.
• Required documents for identity verification and source of funds.
• Customer support options if something goes wrong (phone, chat, email).

For regular family remittances of a few hundred euros, these are usually straightforward. For large transfers,
it’s worth confirming everything before you hit “Send”.

Step-by-Step: Sending Money from Spain to Mexico

Here’s a simple flow you can follow every time you send EUR to MXN.

Step 1: Check today’s mid-market EUR-MXN rate

Use a currency converter (like XE, Wise, or Instarem) to see the current mid-market rate.
This gives you a baseline to judge offers from banks and transfer companies.

Step 2: Compare at least 3–4 providers

On a comparison site, enter:

• From: Spain (EUR)
• To: Mexico (MXN)
• Amount: e.g., 200 EUR, 500 EUR, 1,000 EUR
• Delivery method: bank deposit or cash pickup

Review the table and sort by “Amount received” or “Total cost” to quickly see which provider is best for that
specific transfer.

Step 3: Set up your transfer

Once you pick a provider:

1. Create or log into your account.
2. Enter your recipient’s full name and bank or pickup details in Mexico.
3. Confirm the EUR amount, the MXN they’ll receive, and all fees.
4. Pay via bank transfer, debit card, or sometimes credit card (usually more expensive).

Always double-check the recipient’s CLABE (Mexican bank account number) if you’re sending to a bank accountone
wrong digit can cause delays.

Step 4: Track and confirm delivery

Most modern providers offer tracking via app or email/SMS updates. Share the reference number with your
recipient, so they can pick up the cash or confirm the deposit when it arrives.

Safety and Regulations When Sending Money to Mexico

Money transfers from Spain to Mexico are subject to regulations on both sides to prevent fraud and money
laundering. Reputable providers are licensed in the jurisdictions where they operate and must follow strict
compliance rules.

To stay safe:

• Use well-known, regulated brands and avoid random links or social media “deals”.
• Never share your full login details or verification codes with anyone.
• Verify you’re on the provider’s official website or app before entering card or bank details.

Comparison sites and financial review platforms also rate providers on safety and customer experience, which
can help you avoid questionable services.

Practical Example: Choosing the Best EUR-MXN Option

Imagine you want to send 500 EUR from Madrid to your parents in Mexico City. Today’s mid-market
rate is about 1 EUR = 21.29 MXN. Here’s how three simplified options might look:

• Bank A: Fee 20 EUR, rate 20.60 – your parents receive about 10,300 MXN.
• Provider X: Fee 2.99 EUR, rate 21.10 – they receive about 10,550 MXN.
• Provider Y: “No fee”, rate 20.90 – they receive about 10,450 MXN.

Even though Provider X charges a small fee, they still deliver more pesos than the “no fee” provider because
their rate is stronger. The bank is the worst dealhigher fee and weaker rate. This is why you always compare
the final MXN amount, not just fees.

500-Word Experience Section: Real-World Tips from People Sending Money from Spain to Mexico

Numbers and charts are great, but nothing beats the wisdom of people who have already navigated the EUR-MXN maze.
Here are experience-based insights that echo what many expats, digital nomads, and families share when they talk
about sending money from Spain to Mexico.

First, most people go through a “bank phase.” You land in Spain, open a bank account, and when you need to send
money home, you naturally assume your bank will handle everything. The first transfer feels fineuntil your
relative in Mexico says, “Hey, we got less than you expected,” or you notice a chunky fee on your statement.
That’s usually the moment people start googling “best way to send money to Mexico from Spain” at 11 p.m. on a Tuesday.

The next phase is the “trial and error” period. Many users try out two or three online services to see what
works best. A common pattern emerges:

• One provider has slightly better rates but is slower.
• Another is fast with cash pickups but adds a higher margin for instant transfers.
• A third sits in the middlegood enough rate, good enough speedand becomes the default choice.

People who regularly send moneylike those supporting family or paying part of a mortgage in Mexicooften learn
to “batch” their transfers. Instead of sending 100 EUR every week, they might send 400 EUR once a month, when
the rate looks stronger. That way, they pay fewer fixed fees and can take advantage of small rate improvements.
Some even set up alerts on currency apps so they don’t have to stare at charts all day.

Another real-world lesson: talk openly with your recipient. If you’re sending money for essentials
like rent, utilities, or medical bills, timing matters. People in Mexico who know the local banks and pickup
locations can tell you which ones are reliable, which branches have long lines, and which payment methods are
easiest for them. For example, a cousin in Puebla might prefer cash pickup at a convenience store on their way
home from work, while a sibling in Guadalajara wants a straight deposit into their bank account so they can pay
bills online.

Frequent senders also learn to double-check the small details: the CLABE number, spelling of names, and even the
city listed for cash pickup. A tiny typo can lead to delays or rejected transfers. People who’ve experienced
those headaches tend to save recipient details in their apps so they don’t have to retype them each time.

Security is another big theme. People who have been burned by scam messages or fake websites usually become
religious about two things: using two-factor authentication and bookmarking official provider sites. They also
warn friends and family never to share SMS codes or login details, no matter how convincing a message looks.

Finally, many long-term expats think of their primary transfer app as part of their “financial toolkit,” just
like their bank account and debit card. They update the app when prompted, watch for emails about fee changes,
and occasionally re-compare providers once or twice a year. Even if they don’t switch often, they like knowing
they’re not leaving hundreds of euros on the table just because they never checked.

Put together, these experiences point to a simple strategy: use comparison tools to find a solid provider,
stay flexible enough to adjust if fees or rates change, and communicate with your recipient about what works
best for them on the ground in Mexico. That way, your euros work harder, your pesos go further, and everyone
feels a little more in control of their cross-border finances.

Conclusion: Make Every Euro Count When Sending Money to Mexico

Sending money from Spain to Mexico doesn’t have to be confusing or expensive. When you understand how the
EUR-MXN exchange rate works, compare a few reputable providers, and focus on the total pesos received
instead of just fees, you’ll quickly spot the best deal for each transfer.

Whether you’re supporting family, paying a supplier, or simply splitting travel costs, the key steps are the
same: check the mid-market rate, use comparison tools, choose a transparent provider, and keep an eye on both
price and speed. Do that consistently, and you’ll turn “sending money abroad” from a stress point into a
simple, well-optimized routine.

SEO JSON