Overview
- Profeco’s latest “Quién es Quién en el Envío de Dinero” found Finabien delivered MXN 7,610.68 on a $400 deposit-to-account transfer with a $2.99 fee and an average rate of MXN 19.17 per dollar.
- The service leverages a network of 1,700 Banco del Bienestar branches and reaches recipients in 1,215 municipalities through consulates and Financiera para el Bienestar outlets.
- In the deposit-to-account category, Finabien outperformed Ria Money Transfer, which paid MXN 7,242.99 with a $7 commission and a rate of MXN 18.43/USD.
- Pagaphone Smart Pay led cash pickups with MXN 7,607.35 per $400 send at a $3.99 fee but still trailed Finabien’s overall value for account deposits.
- Profeco reminded users that its online comparison tool lets senders simulate costs and choose the most cost-effective remittance option.