# Wire Transfer to Mexico Help



## Rocket1009 (Jan 21, 2016)

Hello,
New here. My wife and I (Mexican National) are buying house in Sonora. Does anyone have experience and/or advice on how to wire transfer ($54000) to Mexico from the US? 
Thanks!


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## sparks (Jun 17, 2007)

Bank to bank but be sure to check with Mexican bank on their rules. Usually there is no issue with wire transfers but there are limits for cash or maybe other transfers. Check also how long to process if you need it in a hurry


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## chuck846 (Jan 15, 2016)

Rocket1009 said:


> Hello,
> New here. My wife and I (Mexican National) are buying house in Sonora. Does anyone have experience and/or advice on how to wire transfer ($54000) to Mexico from the US?
> Thanks!


We have an international brokerage account with Charles Schwab in the States and a checking/investment account with HSBC Mexico. We have standing wire orders with Schwab. We have our eye on a new car and yesterday when the 'spot' rate hit 18.75 I called Schwab and had money wired to HSBC. I got 18.64. It will take three days for the 'trade' to settle and perhaps another day for the pesos to show up in the HSBC account. There are no fees involved on either end. There is no maximum amount on wire transfers. There are maximums when you walk into a Mexican bank - cash in hand. Actually I believe there is a fee/fine.

You are very lucky. Right now is a very good time to be buying a house in Mexico because of the exchange rate. Our rate was about 13.40 when we purchased our house. Also be careful. Some banks will take as much as 3% on the exchange rate when you wire funds. That is the case even between HSBC US <-> HSBC Mexico.


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## Andreas_Montoya (Jan 12, 2013)

Your bank here can give you all of the info needed. Basically it's your name, bank name and address, account number and a twelve digit transfer number.


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## Rocket1009 (Jan 21, 2016)

Thanks!
I like the Schwab option. I've contacted my bank, over the phone, about a quote - they won't do it unless I'm standing in their office. But if they want to charge me 3% off of the posted exchange rate..I need to find a different route.


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## chuck846 (Jan 15, 2016)

Rocket1009 said:


> Thanks!
> I like the Schwab option. I've contacted my bank, over the phone, about a quote - they won't do it unless I'm standing in their office. But if they want to charge me 3% off of the posted exchange rate..I need to find a different route.


We are very happy with Schwab. For nearly 30 years we had accounts with another large Boston based brokerage. It became very stressful to deal with them after we moved to Mexico. They really made us feel like criminals when we moved some money to Mexico. Schwab, on the other hand, came to Mexico City and sat down with us - the rep had other appointments as well  Schwab is a real pleasure to deal with.


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