Overview

• Profeco’s August 18 report confirms Finabien as the leading remittance channel for deposit transfers for the second consecutive week.
• The state-backed lender yields an average of 7,598.77 pesos on a $400 deposit by combining its low commission structure with a 19.14 MXN/USD exchange rate.
• Private remitters such as Ria Money Transfer deliver roughly 7,250.85 pesos for the same $400 deposit, about 348 pesos less than Finabien.
• In cash transfers, Paga Phone Smart Pay tops the list with 7,559.83 pesos per $400 while Wells Fargo customers receive about 7,265.36 pesos.
• With around 1,700 branches in 1,215 municipalities, Finabien has also begun administering Conavi rental payments to improve transparency in social-program disbursements.