Overview
- Inflows totaled $5.214 billion in September, down from $5.578 billion in August, according to Banxico.
- Cumulative receipts for January through September reached $45.681 billion, 5.5% lower than the same period in 2024.
- Banxico reported 13.1 million remittance operations in September, a 4.7% annual decline, while the average transfer rose 2.1% to $394.
- Electronic transfers accounted for 99.2% of inflows, with roughly half of those funds withdrawn in cash and the rest deposited into bank accounts.
- Analysts cite tighter U.S. and Mexican migration policies and a reported 1% tax on cash remittances as headwinds, increasing risks for households that rely heavily on these funds.