Features

• The beneficiaries can receive their payments either in their bank account or they can also cash their payments at any TELECOMM-TELÉGRAFOS branch.
• All fees are paid by the consumer sending money. There are no deductions or fees for the beneficiary in Mexico.
• The payment is initiated in U.S. dollars and converted into Mexican pesos using a highly competitive foreign exchange rate.
• The foreign exchange rate is based on the FIX minus 0.21%. The FIX is the inter-bank reference foreign exchange rate that is determined and published by the Banco de México every day, which makes it more competitive.
• Currently, payments can only be sent from the United States to Mexico.
• In order to initiate a payment to a bank account in Mexico, the beneficiary’s CLABE account number (18 digits) or a debit card number (16 digits) is required.
• If his beneficiary has no bank account in Mexico, the sender is still able to send the money, as it can be cashed at any TELECOMM-TELÉGRAFOS branch in Mexico. The beneficiary will require: A valid official ID (IFE card, passport, military record not more than 10 years old, Certificate of Consular, or INAPAM card); and the unique transference number (16 digits), that the sender must provide to his relative.
• The Federal Reserve Banks and Banco de México control and regulate the infrastructure and operation of Directo a México.

Benefits

Directo a México is a very competitive service in the money transfer market for sending payments from the United States to Mexico. Benefits include:

Efficient

• Payments processed by the central banks in both countries.
• Certainty of payment process and time schedule.
• Certainty in fees, including the transfer and foreign exchange fees.
• Transparency for all participants.
• Next business day delivery of funds to the beneficiary in Mexico, by depositing them in a bank account or cashing the payment at any post office.

Attractive

• Competitive transfer fees. Consumers using Directo a México pay one of the lowest fees (generally less than USD 5 for a transference between banking accounts).
• Competitive and transparent foreign exchange rate. The foreign exchange rate is taken from the FIX (inter-bank reference rate), which is calculated and published by the Banco de México, minus a 0.21% spread.
• The same fee and foreign exchange rate is used regardless of the amount transferred.
• Transparency. The foreign exchange rate applied and the original amount in dollars is informed in the beneficiary’s account statement. For example, in a 350 USD transfer, the beneficiary in Mexico can look at their statement the following legend:

	FX Rate correspond to the date when the payments are posted in Mexico.
US Dollars transferred

Payment process:

The funds are available to the beneficiary in Mexico on the next banking day.

Ease in receiving the funds for the beneficiary in Mexico

The beneficiary has two alternatives to access the funds:

• Via his/her bank account:
  • Through any ATM (more than 35 thousand all over Mexico). Remember to use an ATM belonging to your bank to avoid fees.
  • Paying with his/her debit card through Point of Sale Terminals in stores (more than 467 thousand in Mexico).
  • Through a bank branch.
  
  
• Via the nearest post office:
  • The beneficiary can go to any TELECOMM-TELÉGRAFOS branch.
  • Any of the following IDs will be required to cash the payment: IFE card, passport, military record not more than 10 years old, Certificate of Consular, or INAPAM card
  • The unique transference number (16 digits), informed to the beneficiary by the sender (sample below):