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Wire Money Transfer to Mexico


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#1 bumbles

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    Posted 22 April 2009 - 11:58 AM

    Has anyone wired a money transfer to a bank Mexico? How long does it take?

    I made a transfer via Bank of America last week (vendor deposit) and it's taking forever.

    #2 kiki317

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      Posted 22 April 2009 - 12:35 PM

      I wired money through my bank a couple of months ago and it went through the next day. They said it depends on when the "recieving bank" accepts the transfer and does their paperwork. Maybe you shoudl call your bank and they can give you some info? good luck!

      #3 Destination Scout

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        Posted 22 April 2009 - 03:11 PM

        It should get there within 2 days. If it doesn't, you're bank should research the transfer and return the money to you.

        #4 sunsetbride1

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          Posted 22 April 2009 - 03:36 PM

          I agree with the other ladies; your bank should be able to track the wire transfer for you. I would follow up with them. Good Luck!

          #5 bumbles

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            Posted 23 April 2009 - 10:08 PM

            Thanks for the responses ladies!

            I had the bank trace the wire and it was actually received the same day it was sent. So, the banker gave me a confirmation number so the vendor can locate the transaction.

            The problem was that when the money arrived at HSBC in Mexico, it went through an another entity before being distributed to the vendor. So, when the vendor received the wire, it wasn't under my name/BoA but the other entity's name. Who knew...

            Just an FYI!

            #6 Soon To Be Mrs. Gomez

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              Posted 24 April 2009 - 01:13 AM

              I have to wire transfer money to Cabo this week. I have never wired money, just PayPal. Will my bank charge me for that and if so, how much?

              #7 bumbles

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                Posted 24 April 2009 - 09:48 AM

                It varies among banks and other companies. Some just charge a flat fee (BoA was $45 for international) while others charge you according to the amount being transfered.

                #8 Kristy!

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                  Posted 24 April 2009 - 10:06 AM

                  Quote:
                  Originally Posted by Soon To Be Mrs. Gomez
                  I have to wire transfer money to Cabo this week. I have never wired money, just PayPal. Will my bank charge me for that and if so, how much?
                  Check the wire instructions to see if it goes through a US bank first. If it does, you should only be charged a for a domestic wire, not an international, which will save you $15-20.

                  The bank I worked at had more reasonable fees than most. Domestic: $15, International: $30

                  #9 bumbles

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                    Posted 24 April 2009 - 10:55 AM

                    Definitely shop around! I didn't because I was lazy and my bank is located across the street from my office :)

                    #10 Kristy!

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                      Posted 24 April 2009 - 11:10 AM

                      I wouldn't recommend shopping around. You should wire money through a trusted bank. Plus you don't want to open a new bank account and begin sending out international wires. It will trigger some red flags that there might be some illegal or terrorist action going on.




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