Receiving money from abroad is something that happens often in Mexico. Fortunately, there are multiple banks that allow you to do so securely.

Now, do all of them charge a fee for receiving an international transfer? Yes, that’s right. One way or another, these institutions keep a small portion of your money, even if some don't have a visible fee.

So, which ones are better? It depends on the exchange rate, the fees, and the conditions set by the bank you choose.

So stick around and check out 7 of the best options. We explain how much banks charge for international transfers, among other details.

Best Banks to Receive International Transfers in Mexico: Options and Tips

Which Mexican banks accept international transfers?

Banks are one of the most reliable methods if you're looking for how to receive money from abroad in Mexico. In fact, you can choose from a wide variety of institutions to receive international transfers.

Here’s a list of institutions that offer this service:

• Afirme

• BBVA

• Banco Azteca

• Banamex

• Banorte

• Banregio

• Banca Mifel

• CIBanco

• HSBC

• Inbursa

• Monex

• Santander

• Scotiabank

Now, what’s the best bank to receive international transfers in Mexico? There are several viable options…

Top 7 Best Banks to Receive International Transfers

At the moment of receiving a bank transfer from another country, all Mexican banks establish their conditions. Therefore, each one may charge a fee and even impose monthly limits.

But in general, the best banks to receive international transfers in Mexico include:

1. BBVA México

BBVA accepts money from abroad in multiple currencies and converts them to Mexican pesos to credit to your account.

How to receive money from abroad at BBVA?

Via SWIFT code and interbank CLABE, along with your full name and address. As expected, it charges a fee for each transaction—$30 USD + VAT regardless of the amount.

It’s worth noting that BBVA uses its own exchange rate and sets monthly limits for some accounts.

2. Banco Azteca

Banco Azteca allows you to receive money from another country by providing the sender with your card number. The funds are deposited directly into your bank account.

Although there’s no direct fee, the applied exchange rate may include a profit margin in the conversion.

It also works with intermediaries to facilitate remittances, with exchange rates determined by each company’s policy.

Some Banco Azteca intermediaries include MoneyGram, Western Union, and Ria.

3. Banorte

Receiving international transfers at Banorte works through the SWIFT network, with a preferential exchange rate for its clients—depending on the amount and frequency of transfers from abroad.

The bank accepts various currencies and converts them to Mexican pesos, usually crediting them the same day if sent in Canadian or U.S. currency. Other currencies may take up to 48 hours.

Banorte uses its own rate, and its fee is $17 USD + VAT per transaction.

4. Banamex

Citibanamex, also known as Banamex, also offers services to receive international funds. You only need to provide your full name, account CLABE, and the bank’s SWIFT code.

Funds typically take 2 to 5 business days to arrive, depending on the banks involved. Although there is no official flat fee listed on their website, the estimated commission is around $15 USD + VAT per transfer received.

Banamex also applies its own exchange rate.

5. Santander

With Santander, you can receive transfers in 7 currencies: U.S. and Canadian dollars, British pounds, Swedish krona, euros, Japanese yen, and Swiss francs. Of course, funds are converted automatically to pesos.

As with other banks, you’ll need the SWIFT code and the CLABE for international transfers. It charges approximately $15 to $20 USD + VAT and uses its own exchange rate.

However, some account types impose a maximum monthly cap for receiving international transfers.

6. CIBanco

CIBanco is another interesting option, as it operates with 8 different currencies. It charges a fee of $5 USD + VAT for amounts under $20,000 USD, and no fee if the amount exceeds that—provided the transfer is credited to a peso account.

It also doesn’t charge fees if the sender transfers to a dollar account or does so via SPID.

It uses its own exchange rate, which is usually competitive.

7. HSBC

HSBC Mexico provides a reliable service for receiving money from abroad. As with previous options, the sender needs your CLABE and SWIFT code.

However, it may impose monthly limits for this type of transaction depending on your account type and profile.

As you can see, these 7 banks are solid options for receiving funds from abroad, but not all of them operate under the same conditions.

That’s why before choosing a bank to receive money from abroad, it’s wise to compare every detail—not just how much each one charges, but also processing times and monthly limits.

You can find this information on their official websites or by contacting customer service.

DolarApp: An Alternative to Receive International Payments

Is there another effective way to receive payments from abroad? Absolutely—DolarApp is an excellent alternative to traditional banks.

Our fintech is designed to handle digital dollars (USDc). So, if you need to receive money from abroad, you don’t have to worry about high bank fees. With DolarApp, only 3 USDc are deducted per transaction—no matter the amount received.

You can also choose to keep your balance in digital dollars or convert it to pesos at a fair exchange rate with no extra fees.

Comparison: DolarApp vs. Traditional Banks

DolarApp charges a low fee to receive your money in USDc, reducing currency conversion losses. In contrast, banks apply margins and fees that can impact the final amount you receive.

A great option to consider, right?