There are various ways to transfer money to Mexico, each with its own set of guidelines that govern how the money is sent. Safety and security, as well as service cost and time frame can vary from company to company.
At certain instances, time though becomes the utmost important issue. When an emergency situation arises, knowing what options are available to you is very important.
In a time sensitive situation, it is important not to loose focus and/or panic. There are a variety of options available to you that will facilitate your needs quickly and easily.
If you are in an opposite situation, where time is not an issue, preparing before the need arises, is always a good idea. For instance, if you have a son or daughter that will be spending summer vacation in Mexico, it would be a good idea to have framework in place so that a money transfer can be made with very short notice, if at all necessary.
In a case like this, the ATM/debit card might be the best option. For some, you may trust the recipient enough to give them an ATM/debit card linked directly to the sender’s bank account.
Once the recipient receives both the card and the associated PIN number, they can then go to a large variety of ATM location nationwide. Remember though, that if you choose to go with this option, it grants the receiver and unbridled access to all your funds, regardless of your given preauthorization.
The reality is that in many cases, we in fact, do not want the card recipient to have total and unmonitored access to the money in our account(s). Because of this fact, prepaid debit cards are the perfect solution.
A prepaid debit card holds all of the same characteristics as a traditional ATM card, however, it has more restricted access when it comes to funding. Once all of the money has withdrawn, the cardholder can no longer access to any more money until the card is reloaded with more money.
With either option that you choose, opening an account with a bank that has branches both in Mexico and in the United States will help to make a transfer between accounts easy. Taking this precaution, along with everything else previously mentioned, will ensure a safe and timely transaction.