How I Transfer Money From My Home Bank to My Mexican Bank Account

When I use this method

I only use a classic bank transfer when I need to send a larger amount to my account at a Mexican bank—for example when I pay rent, a deposit on an apartment, or other big expenses that require proof of a legal money transfer.

For smaller amounts it’s far too slow and expensive.

What I need before I start

To send money from my home bank to my Mexican bank, I need:

• The CLABE number of the Mexican account (18 digits—this is Mexico’s version of an IBAN)
• The SWIFT/BIC code of the Mexican bank
• The name and address of the receiving bank
• My own name exactly as it appears on the account in Mexico

How I do it, step by step

1. I log into my home bank’s online banking or app.
2. I go to Payments → International transfer.
3. I choose the currency. This matters—should the bank send my home currency or MXN?
   • If I send my home currency, the Mexican bank converts it (often a poor rate).
   • If I send MXN, my home bank converts first (also often a poor rate, but predictable).
   • I’ve done both, and the rate is rarely good either way.
4. I fill in the CLABE, SWIFT/BIC, recipient name and address.
5. I add the purpose of the transfer (important for large amounts—Mexico often requires documentation).
6. I send and wait.

Pros

• Safe and traceable
• Good for large amounts
• Provides documentation of a legal money transfer (important for rent, buying property, or taxes)
• The money goes straight into my Mexican account

Cons

• Slow—2 to 5 business days
• Expensive—both banks charge fees
• Poor exchange rate compared to Revolut and Wise
• Intermediary banks may also take a cut along the way (you often can’t see how much)
• If you enter something incorrectly, the money can bounce back after 1–2 weeks

What it actually costs me

On a transfer of a few thousand dollars, I usually end up paying a fixed SWIFT fee plus an exchange-rate markup of 1–3%. The Mexican bank often adds a small fee when the money arrives.

My recommendation

Use a classic bank transfer only when you must get the money straight into a Mexican account with full documentation—that is, for rent, a deposit, buying property, or tax reasons.

For everything else, Wise is much cheaper and faster, even for large amounts. I’ve written a separate post about how I use Wise for exactly this kind of transfer.

👉 How I use Wise for larger transfers