Digital remittances that did not involve cash in either end of the process made up only three percent of all remittances towards Mexico. This is according to a custom-made calculation from Statista, based on the number of reported remittance channels going towards Mexico. The three countries from which Mexico receives the highest value of remittances include the U.S., Canada, and Spain. Remittances are a relatively uncharted topic, though. While figures exist on the total traffic between individual countries ("corridors"), exact numbers on how much of this comes from banks, money transfer organizations (MTOs), or digital sources (blockchain, etc.) is typically not known. All figures on remittances are therefore estimates.

Remittances in Mexico decreased to 16385.68 USD Million in the fourth quarter of 2024 from 17033.29 USD Million in the third quarter of 2024. This dataset provides - Mexico Remittances - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The share of digital remittances in money leaving the U.S. for Mexico stayed relatively the same in 2024, with digital options being more common than cash. This is according to a custom-made calculation from Statista, based on the number of reported remittance channels originating from the U.S. towards Mexico. The United States was the number one country of origin for remittances to Mexico, while the Latin American country was also the number one highest likely destination of remittances from the United States. Remittances are, nevertheless, still a relatively uncharted topic. While figures exist on the total traffic between individual countries ("corridors"), exact numbers on how much of this comes from banks, money transfer organizations (MTOs), or digital sources (blockchain, etc.) is typically not known. All figures on remittances are therefore estimates.

Western Union was used the most for incoming remittances to Mexico, although its market share stayed relatively unchanged in 2024. This is according to a custom-made calculation from Statista, based on the number of reported remittance channels going towards Mexico. The three countries from which Mexico received the highest value of remittances are the U.S., Canada, and Spain. Remittances are a relatively uncharted topic, though. While figures exist on the total traffic between individual countries ("corridors"), exact numbers on how much of this comes from banks, money transfer organizations (MTOs), or digital sources (blockchain, etc.) is typically not known. All figures on remittances are therefore estimates.

Remittance fees of Remitly were the highest in the first quarter of 2024. This is according to a Statista estimate that aims to compare the prices charged for sending international money transfers to Mexico. Typically, the fees of money transfer organizations - MTOs - such as Western Union were below those from banks.

Banks had slightly higher remittance fees in the United States to Mexico remittance corridor than MTOs, as of 2024. This is according to a Statista estimate that aims to compare the prices charged for sending international money transfers to Mexico but specifically sent from the United States. No figures were available on post office fees for remittances towards Mexico.

Personal transfers, receipts (BoP, current US$) in Mexico was reported at 63318672201 USD in 2023, according to the World Bank collection of development indicators, compiled from officially recognized sources. Mexico - Workers' remittances, receipts (BoP, current US$) - actual values, historical data, forecasts and projections were sourced from the World Bank on March of 2025.

In the first quarter of 2024, the remittance fees for bank account transfers to Mexico were nearly 1.7 percentage points lower than those for credit cards. This is according to a Statista estimate that aims to compare the prices charged for sending international money transfers to Mexico.

Incoming remittance towards Mexico in the third quarter of 2023 increased by over nine percent on an annual basis, a higher growth rate than in the previous quarter. This is according to a calculation that looks at personal money transfers and cross-country compensation of employees, on a quarterly basis. These two types of payments together form "personal" remittances. While technically not the same as "total" remittances, oftentimes the two types of remittances have the same figures due to a general lack of data tracking. Mexico had an estimated personal remittance inflow of 17.6 billion U.S. dollars in the third quarter of 2023.

Low-and middle-income (LMI) countries in South Asia received more remittances than any other LMI region in the world, such as Latin America. The latter region received approximately 145 billion U.S. dollars from other countries, most of which likely comes from the U.S. to Mexico - the biggest remittance corridor in the world. Predictions are that global remittances will increase by 27 billion U.S. dollars between 2022 and 2024.

Remitting 200 USD from the United States to Mexico saw a cost increase of 0.22 percentage points between Q1 2023 and Q1 2024. This is according to an estimate that purely focuses on the remittances on this specific corridor. The cost of sending money to the North American country was at its highest in 2012, and generally declined since then.

Remittances entering Mexico took more than one day to be processed in 2024, a figure that was much higher if cash or bank account transfers were involved. This is according to a Statista estimate that aims to compare the transaction speed listed for different international money transfer channels across the world. Generally, digital remittance tend to process remittances much faster. The figures shown here have originally been gathered by the World Bank using mystery shopping. "Traditional end-to-end" and "digital to traditional" are categories assigned by Statista, and refer to the payment method used at the remittance sending side and the method used when receiving. "Traditional" refers to cash and bank account transfers, while "Digital" includes everything that does not involve these (e.g., cards, mobile wallets, mobile money, etc.). In this statistic, the categories "traditional to digital" and "digital end-to-end" have been excluded, as there were not enough channels to use these. In the case of Mexico, the "traditional end-to-end" and "digital to traditional" covered all recorded channels since 2016.

Public and publicly guaranteed debt service (% of exports of goods, services and primary income) in Mexico was reported at 4.03 % in 2023, according to the World Bank collection of development indicators, compiled from officially recognized sources. Mexico - Public and publicly guaranteed debt service (% of exports, excluding workers' remittances) - actual values, historical data, forecasts and projections were sourced from the World Bank on March of 2025.

Sending remittances to Mexico was cheaper than sending money from either Canada or the United States, as of the first quarter of 2024. This is according to an average taken from different situation in which consumers send money worth 200 U.S. dollars from one country to the next - including cash, MTOs (money transfer organizations) or cards.

The share of digital remittances leaving the United States was slightly higher in 2024 than in previous years, taking up the majority of money transfers. This is according to a custom-made calculation from Statista, based on the number of reported remittance channels going away from the United States. The three countries the U.S. sends the highest value of remittances include Mexico, India, and Guatemala. Remittances are a relatively uncharted topic, though. While figures exist on the total traffic between individual countries ("corridors"), exact numbers on how much of this comes from banks, money transfer organizations (MTOs), or digital sources (blockchain, etc.) is typically not known. All figures on remittances are therefore estimates.

In 2024, lending emerged as the dominant segment of Mexico's fintech industry. Of the 804 identified fintechs operating locally, 174 companies (21.6 percent) specialized in lending services. The payments and remittances sector secured the second position with 134 fintechs, representing 16.7 percent of the market.

MoneyGram was used the most for outgoing remittances from the United States in 2024, although its market share was relatively low due to how many providers are present. This is according to a custom-made calculation from Statista, based on the number of reported remittance channels going away from the United States. The three countries to which the U.S. sends the highest value of remittances are Mexico, India, and Guatemala. Remittances are a relatively uncharted topic, though. While figures exist on the total traffic between individual countries ("corridors"), exact numbers on how much of this comes from banks, money transfer organizations (MTOs), or digital sources (blockchain, etc.) is typically not known. All figures on remittances are therefore estimates.

The biggest receivers of remittances in the world included India, Mexico, and China in 2023, with each country receiving several billions worth of dollars. This is according to a database that tries to model money sent internationally from one party to another. Remittances typically refer to money sent from migrant workers back home to family and friends, although there are other forms of this. Remittances can, for example, include pensioners who have a second home in a foreign country. Nevertheless, Asia Pacific is often referred to as the main receiver of remittances.

Western Union's market share in incoming remittances was relatively high in China as of late 2024, more so than in Mexico or India. This is according to a custom-made calculation from Statista, based on the number of reported remittances channels originating from more than 40 different countries worldwide. Western Union is often considered one of the main providers of remittances services worldwide. The company's quarterly revenue increased by nearly one percent in Q1 2024, as compared to a year earlier. Nevertheless, remittances are a relatively uncharted topic. While figures exist on the total traffic between individual countries ("corridors") or the overall size of remittance flows, exact numbers on how much of this comes from banks, money transfer organizations (MTOs), or digital sources (blockchain, etc.) is typically not known. All figures on remittances are therefore estimates.

Remittances between the United States and Mexico were over twice as large in value as the second-biggest corridor, which was in Asia. This is according to a Statista ranking, using a table that tried to map out migrant remittance flows between individual countries. Multiple countries across the world received remittances worth more than three percent of their GDP in 2022. That said, it should be stressed that remittance figures are not without their flaws. First, the numbers shown here are based on migrant stock. This is a difficult topic to track for certain countries, but also potentially excludes other types of remittances - such as pensions or illegal remittances. Two, the figures essentially assume that every migrant will send the difference of per capita income in PPP terms back home to the country of origin. The source acknowledges this is a rough proxy, potentially leading to over- or undervaluing any estimates.