Directo a México
 

Directo a MéxicoSM is a service used to send money from a bank account in the United States to any bank account in Mexico. In this website are described the main features of Directo a México. If you require more information, please connect to http://www.directoamexico.com/en/default.html.
 

About Directo a México
 

In October 2003, the U.S. Federal Reserve banks and Banco de México established the payment systems to be used by both countries as a way to send government pension payments to recipients in Mexico. As of February 2, 2004, commercial payments can be sent from any U.S. financial institution enrolled in “Directo a México” to any individual who has a bank account in Mexico. Since July 2005, this payment channel has been registered with the name “Directo a México".

  Features
 
 

Currently, payments can only be sent from the United States to Mexico.
  A bank account is required for both the individual sending the payment and the beneficiary receiving the payment.
 

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 daily by Banco de México . Foreign exchange rates used by Directo a México may be consulted at the following web site: http://minneapolisfed.org/fedachfx/index.cfm

  In order to initiate a payment to Mexico, the beneficiary’s CLABE account number (18 digits) or a debit card number (16 digits) is required.
  All fees are paid by the consumer sending the money. There are no deductions or fees for the beneficiary in Mexico.
  Benefits
  Users that make payments have:
 
 

Certainty in the payment process, time schedule, and fees, including the transfer and foreign exchange fees available.
  Competitive transfer fees. Consumers using Directo a México pay one of the lowest fees.
  Competitive and transparent foreign exchange rate. The foreign exchange rate is based on from the FIX (inter-bank reference rate), which is calculated and published by Banco de México, minus a 0.21% spread.
  Participant institutions:
 
 

Become part of the growing U.S.-México remittance market.
  Offer financial services to the growing Mexican community in the U.S.
  The financial institution offering Directo a México determines the maximum transfer amount according to its own compliance policies.
Both the Federal Reserve banks and Banco de México manage and regulate the payment infrastructure used for Directo a MéxicoSM.
  Comparison with other services.
  On a weekly basis, the government-run consumer advocacy agency (PROFECO) publishes a comparative analysis of different institutions offering remittances services. PROFECO collects the information from each institution, including the charges involved in sending a remittance payment. This information can be consulted at:

                                   http://www.profeco.gob.mx/envio/envio.asp

  Information.
 
 

Learn more about how to enroll in Directo a México by reading the: “Guide to a Successful FedACH International® Launch”, at:
    http://www.frbservices.org/pdf/FedACH-IntGuideSuccessLaunch.pdf
  Research the operational specifications necessary to participate in Directo a México by reading the FedACH International® Mexico Service Manual at:
    http://www.frbservices.org/Retail/pdf/FedACHiMxManual.pdf
  Contact.
 

        Financial institutions in the US that would like the service, please contact your FedACH Sales Specialist: http://www.frbservices.org/Retail/FedACHSales.html.

        For the general public in the U.S. find the branch offering Directo a México nearest you.

        For the general public in México, please contact directoamexico@banxico.org.mx.

        You can find this and more information at: http://www.directoamexico.com.