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Using Wise for Fast Money Transfers to Mexico (with LOW FEES!)

Almost Retired in Mexico 4 views

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my boss wants to pay me through wise i registred but it says in mexico i can not recieved money from usa only send not recieve
Comment from : @chrisgonzalez4308

I have been comparing different methods of exchanging dollars to pesos for the past 3 years When all fees are taken into account, when I withdraw from an ATM (ALWAYS DECLINING THE HORRIBLE OFFERED RATE) and let my own bank do the conversion, the fees represent around 020 off of the midmarket rate With Wise, it seems to be around 018, so better In other words, if the exchange rate is listed as 194, I would get around 192 pesos for every dollar at an ATM, but 1922 with Wise It isn't much different, but I agree with Brighton that Wise is generally the best Beware of any business offering "no fees"There is always a fee for exchanging money! Many credit cards will say there is no fee, but that just means it gets built into the exchange rate Same with the offer to reimburse ATM fees, beware of the exchange rate they are offering you And never bring cash to Mexico and exchange at a money change place, those rates are always the worst
Comment from : @spenceronyoutube

I tried setting up an account and since I don't have a Mexican bank account, I tried sending just $50 to a friend in Mexico to test, and it was an extreme pain-in-the-ass to use the app, 🤣 I hope it is easier when I get my own account, because I wasn't encourage to use the app
Comment from : @hiruu

Hey Brighton, why Banorte over BBVA please Does one pay more interest? Thanks!
Comment from : @belliott4844

I have been meaning to get a Mexican bank account to enable me to do this for a while now I live in MazatlanbrbrAfter watching this video, I went to Intercam Bank to open an account They were very friendly and helpful, but I was told (with no prompting) that they won’t allow Wise transfers and that if I use Wise, they will lock my account And for anyone who has an existing account, they will eventually be flagged and locked if they do transfers with WisebrbrSo I decided to see what other banks did I went to Banorte, Santander, and CIBanco and all said the same (although I had to ask about their policy with Wise)brbrI posted on the Mazatlan Expat FB group about this and asked if other people had any issues with Wise brbrMost said they have been making transfers with no issues but some said they had their accounts locked at Intercam (I specifically asked about Intercam)brbrI contacted Wise’s customer support via email and they responded quickly but have been pretty much useless in answering my question about Mexican banks not working with thembrbrYou mentioned Activner Do they have the same policy?
Comment from : @roundpaws

Wise deactivated my account for no reason without warning and held $1800 CAD at Christmas time until I threatened to sue I’d be hesitant to use them again
Comment from : @melissalow9557

Is it possible to open a Bannorte account from the US? I'd like to start transferring some USD to Mexico Thanks Great video
Comment from : @ronfriedhoff6982

This is a great video we were curious about transferring money through Wise and this is so helpful! Thanks for sharing😊
Comment from : @LindaHill-ut6zl

Thanks Brighton, this was helpful I set up a Wise account, but I have never transferred any money 😂 Yet anywaybrThey also offer a "Wise Card" (some restrictions apply) It works like a debit card
Comment from : @lisawoods588

Nice video, it seems pretty straightforward to use the Wise app!
Comment from : @cindyk3076

Wise is not a bank, and your funds are not insured, so if they go under, you would probably lose all your funds you have in your Wise account Not wise,to hold large amounts in your Wise account
Comment from : @1dktre

I was just wondering about using wise or xe to buy a car once I’m down there in a week, my rate with Wells Fargo is much less than wise Perfect timing 🙏
Comment from : @jacobsavage563

Goodstuff!
Comment from : @spacesandplacesoutthere

Not related to the videoBut what about a video on Fintech Mexican banks NuBank offering deposit rates of 145 and Stori is 15 Perhaps info for viewers on who qualifies terms of deposits etc ? Just an idea on the financial side of things Salud
Comment from : @TraderK67

Great content
Comment from : @Wavewomper

Xoom charges $299 per transaction
Comment from : @tdgdbs1

Thanks! You helped me out immensely
Comment from : @hardsayings2400

Great info! I opened a checking account at Santander a couple weeks ago and a Wise account Its a great way to get around the international ATM fees
Comment from : @leemartinez2975

I am sick of WISE before I moved to Mexico I lived with a friend Somehow WISE thought I was homeless, technically I was and I could never get approved, of corrse the people I talked to did not make the decision they just took the information and sent it to the decision makers who I was not allowed to talk to My friend is now living with me in Mexico with me he got a WISE card and had been using it but was notified his account would be closed unless he provided a US address He lives in Mexico which is why he needs his dollars changed to pesos in the first place WISE works very hard to not provide customer service or even customer consideration
Comment from : @TheMel434

Good one as usual Brighten,brI've been using wise and dolarapp for the last couple of years here in mexico and have been very happy with both, i heard there are some issues with dolarapp, but i haven't had anybrOne nice option also with wise which you may have mentioned is you can set an auto convert if peso hits a desired number
Comment from : @davebacon6194

A lot of people here in Playas de Rosarito use Wise Great video and very informative
Comment from : @MexPatLife

Thank you so much for this video today my friend! I opened my account 6 months ago on your recommendation I'll be using my card in LaPaz end of August for the first time Converting to Pesos right now is a win win! 😊
Comment from : @SophiaZanzotWhitted

hahaha great video I just bought pesos today using wise for 1881 I have a BBVA account in Mexico and this bank is great When you want to pay someone for services, you give them a code and they go to a BBVA ATM and withdraw the money It has worked great when I have booked excursions etc in La Paz and they wanted money up front before they would hold the booking This method is great if you are a Resident of Mexico Otherwise I would use a Shwab card Shwab reimburses ATM fees but only gives you the best exchange rate that moment in time Love your videos , keep them coming
Comment from : @TheMoncada1

Love using Wise great rates and super fast to transfer They also have a Wise card that will use the funds from your Wise accountwhich I will use in La Paz brbrThat way my main accounts are never at risk I just transfer money into Wise and use the Wise card at the stores etc
Comment from : @TraderK67