When you send money to Mexico, every peso counts. Whether you’re helping with groceries, school expenses, rent, or unexpected needs, you want to make sure your family receives as much as possible. But with so many remittance services offering different exchange rates, fees, and promotions, it can be difficult to know which option really gives you more.
The reality is simple: not all exchange rates are the same, and even small differences can add up, especially when you send money regularly. In this guide, we’ll walk through how to compare exchange rates the right way and why focusing on the final amount your receiver gets is the smartest way to choose.
- Why exchange rates vary across remittance companies
Every money transfer company has its own way of setting exchange rates. Some services show a higher rate but charge more fees. Others show a lower rate but claim “no fee.” Some add extra costs in the background.
So where does the difference come from?
- How companies make revenue: Some earn through fees, others through the exchange rate margin.
- Partnerships in Mexico: Who handles payouts affects the cost.
- Your payment method: Bank transfer, debit card, and credit card may have different pricing.
This means two companies can advertise “good rates,” but what truly matters is what your family receives in pesos — not what you pay up front.
- The key metric to compare: Final Amount Received
Let’s look at an example.
You want to send $100 USD to Mexico.
| Service | Exchange Rate | Fee | Final Amount Received |
| Pangea | $18.95 MXN | $0 | $1,895 MXN |
| Remitly | $18.65 MXN | $4.99 | $1,865 MXN |
| MoneyGram | $18.74 MXN | $0 | $1,874 MXN |
At first glance, a service with no fee might look like the best choice.
But a service with a strong exchange rate, even with a small fee, can still result in more pesos for your recipient.
That’s why comparing only the rate or only the fee isn’t enough.
The final amount your family receives is what truly matters. That’s what Pangea is focused on: great rates and low fees, so your support goes further.
- How to compare rates effectively (simple checklist)
When checking different services, compare these three things together:
✔ Exchange rate
✔ Transfer fee
✔ Final amount your recipient receives
If a service doesn’t clearly show how much your receiver will get before you send the money, that’s already a red flag.
Pro tip:
Check rates at the same time of day. Exchange rates can change throughout the day, so comparing them at different moments can be misleading.
- Why this matters for frequent senders
Many Pangea customers send money once or twice every month. That means even small differences can add up:
- A difference of $50 MXN per transfer becomes $600 MXN per year
- A difference of $150 MXN per transfer becomes $1,800 MXN per year
- A difference of $300 MXN per transfer becomes $3,600 MXN per year
That’s a school uniform, utility bills, medicine, or groceries just from choosing the better rate.
- Don’t forget payout options
Another factor to consider is how your recipient receives the money:
- Bank deposit
- Cash pickup
- Direct-to-debit card deposit
If your recipient has a debit card, sending directly to the card can be faster and easier and avoids needing bank names, CLABE numbers, or account types. It also helps you avoid mistakes when entering account information.
- Choosing a service you trust
The best exchange rate only matters if your money arrives safely and on time.
So before choosing a service, also look at:
- Customer support availability
- Delivery speed
- Security and verification practices
- Transparency in pricing
A good money transfer service should make you feel in control, not confused.
Final Takeaway
When comparing services to send money to Mexico, don’t focus only on fees or only on exchange rates. Focus on the final amount your loved ones receive.
A few pesos difference each time truly adds up, and your support goes further when you choose the service that gives your family more.
DISCLAIMER – This content is for informational purposes only. Pangea and its affiliates do not provide financial, legal, investment or tax advice
