Remitly's US Dollar Exchange Rate: How to Send Money to Mexico with the Best Exchange Rate?

Remitly is a service platform dedicated to international money transfers, providing the latest exchange rate updates of US dollars to Mexican pesos (MXN), helping users complete transfers at a better price. Remitly offers a transparent fee structure, real-time exchange rate tracking, and convenient money transfer methods, making it suitable for users with cross-border transfer needs. In addition, BiyaPay is also an efficient money transfer method, which will be introduced in detail later.

How is the exchange rate of US dollars to Mexican pesos provided by Remitly?

The exchange rate is one of the important factors affecting the cost of international money transfers. The exchange rate provided by Remitly is competitive and updated daily to ensure that users can obtain an exchange rate close to the market.

Currently, if you are making a money transfer through Remitly for the first time, you can enjoy an exchange rate of up to 1 US dollar for 19.93 Mexican pesos (the data will fluctuate with the market). Compared with the exchange rate of banks, Remitly may offer a more advantageous conversion rate and allows users to lock in the exchange rate to avoid the uncertainty brought about by exchange rate fluctuations.

In addition, users can also set exchange rate reminders. When the exchange rate reaches the target level, the system will automatically notify them so that they can make the transfer at the best time. This function is especially suitable for users who want to send money with a higher value of pesos.

Does the exchange rate of Remitly include additional fees?

Remitly adopts a transparent fee structure, allowing users to clearly view the exchange rate and handling fees before making a money transfer, avoiding hidden costs.

Generally speaking, Remitly does not include additional fees in the exchange rate, but it may charge certain transfer fees according to the payment method. For example:

• Payment by debit card or bank account: Usually, the fees are low or even free.
• Payment by credit card: There may be additional handling fees, and some credit card companies will treat it as a cash advance transaction and charge additional interest.

For users who make frequent money transfers, they can choose Remitly’s economy mode, which has lower fees, but the funds arrival time is a bit longer. If you need the funds to arrive quickly, the priority transfer option is a better choice.

How fast is the money transfer speed of Remitly?

Remitly provides two main money transfer modes, and users can choose according to their needs:

Economy Transfer

• Low or even free fees
• The funds usually arrive within 3-5 working days
• Suitable for users who do not urgently need the funds

Express Transfer

• Slightly higher fees, but the funds can arrive in as fast as a few minutes
• Suitable for users who need to make urgent money transfers

Users can check the estimated arrival time before making a money transfer to ensure that the payee can receive the funds on time.

How to make the best money transfer using Remitly?

To maximize the advantages of Remitly’s money transfer, users can adopt the following strategies:

• Utilize the exchange rate locking function to avoid losses caused by exchange rate fluctuations.
• Set exchange rate reminders and make the money transfer when the exchange rate is at its best.
• Choose a low-fee payment method (such as bank account transfer) to reduce handling fee expenses.
• Plan the money transfer time reasonably. If there is no urgent need, you can choose the economy transfer to save fees.

Through these methods, users can save more money during the money transfer process and ensure that the payee receives a higher amount of pesos.

Understanding the historical exchange rate of US dollars to Mexican pesos helps users predict market trends and find a better time for money transfers.

Historical data shows that the exchange rate of the US dollar to the Mexican peso fluctuates greatly and is affected by factors such as economic policies, the global market, and the strength of the US dollar. In the past few years, the exchange rate has fluctuated between 1 US dollar for 18-22 pesos.

If users send money to Mexico for a long time, they can pay attention to the exchange rate trend and make the transfer when the value of the peso is high to ensure that the payee receives more funds.

What other money transfer methods are available besides Remitly?

Although Remitly provides excellent exchange rates and convenient money transfer methods, for some users, other money transfer services may have more advantages. For example:

• Wise (formerly TransferWise): The exchange rate is close to the interbank market price, suitable for large-value money transfers.
• Western Union: Supports cash withdrawals worldwide, suitable for payees without a bank account.
• MoneyGram: Fast arrival speed and wide coverage.
• BiyaPay: Provides a local money transfer service with no limit on the amount and low cost (to be described in detail later).

Different money transfer methods are suitable for different scenarios. Users can choose the most suitable money transfer platform according to factors such as the exchange rate, handling fees, and arrival speed.

Conclusion

Overall, Remitly has certain advantages in the exchange rate of US dollars to Mexican pesos, making it suitable for users who want low costs and fast fund arrival. Its main advantages include:

• Real-time exchange rates updated daily, and the support for locking in the exchange rate to reduce the risk of fluctuations.
• A transparent fee structure with no hidden costs.
• Priority transfer service, which can ensure fast fund arrival to meet urgent needs.
• Supports payment by bank account, debit card, and credit card, with high flexibility.

However, if users want to make larger-value and lower-cost international money transfers, they can consider BiyaPay. BiyaPay adopts a local money transfer model, supports transfers in most regions around the world, has no limit on the amount, and the funds arrive quickly, making international payments more efficient and convenient.