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Money Transfer w/ USFOREX
Old 11-23-2014, 04:06 PM   #1
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Money Transfer w/ USFOREX

My mother just left the country to Mexico, and I am trying to find the best way to sent her money.

The local place like Dollex, Western Union, normally charge a low fee but they make it on the exchange rate. I just check the peso and it is 13.60 to the dollar. Dollex at this moment only pays 12.30 per peso. 1.30 per dollar is a great deal since I will sending her ~ 6 k per year.

My thought is to have Forex do the exchange for me and wire the funds to her account at Walmart's Bank in Mexico.

This is where she does her shopping, her cable bill for 60 channels is only 15 dollars per month: I am envy mine is the same with another decimal point.

Any thoughts are welcome


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Old 11-23-2014, 06:46 PM   #2
Confused about dryer sheets
Join Date: Nov 2014
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For that amount of money, consider opening up a Charles Schwab account with banking feature. They have a no foreign transaction fee ATM card. I have one and use it when I travel out of the country. I have been happy with the exchange rates that I get, close to what you see in the newspapers and much better than what I would get at a bank or hotel.

I have heard that is reasonable if you don't like the ATM idea.

Sent from my Nexus 7 using Early Retirement Forum mobile app

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Old 11-23-2014, 07:30 PM   #3
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I heard an ad on the radio: Walmart does this. Go into one of their stores and send her the money.
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