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Great Basin Federal Credit Union is proud to offer Directo a Mexico, the most convenient way for you to transfer money to Mexico.

What is Directo a Mexico?
Why should I use Directo a Mexico?
How do I make a transfer using Directo a Mexico?
When does the money arrive in Mexico?
Why should I have a credit union account when using Directo a Mexico?
What is the CLABE?
Will I lose the money in my credit union account if I return to Mexico or am deported?
Does the receiver in Mexico need to have a bank account?
Will I still get a great exchange rate if I only send a small amount of money?
Which Mexican financial institutions participate in the Directo a Mexico program?

 

What is Directo a Mexico?

Directo a Mexico makes transferring money to Mexico fast, low-cost and secure. The money is transferred from your credit union account through the U.S. Federal Reserve Banks (Fed) to Mexico. There, the Banco de Mexico delivers it to your beneficiary's bank in Mexico. By using Directo a Mexico, your recipient receives more pesos for every dollar you send because Directo a Mexico offers the best exchange rate in the market. In addition, you have the certainty that your money will arrive in the bank account that you have chosen.
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 Why should I use Directo a Mexico?

Directo a Mexico provides the best features for you to send your money because this transfer is:

 - Secure: Transfers are carried out from and to the financial institution accounts that you choose. You and your family will not have to carry around cash or keep it in your house - you can take cash out of your credit union account at the branch when you need it or at any ATM, or you can make your purchases using a debit card. By transferring funds between financial institutions, your payments are governed by the payment rules in each country. 
 - Fast: The money is available on the next business day.
 - Low-cost: We offer a favorable transfer fee ($10) and the best exchange rate-regardless of the amount you send. Your family will receive more pesos in its account in Mexico for every dollar that you send.
 - Convenient: Directo a Mexico allows you to make automated transfers- you tell your credit union the days that you want the transfers to be sent automatically, and you won't have to go to branch in person.
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How do I make a transfer using Directo a Mexico?

1. You need a credit union account. If you don't already have an account, we can help you open one. Talk to one of our sales associates.

2. If you already have an account with us and you need to send money to Mexico, ask one of our associates about Directo a Mexico.

3. Get the CLABE number or the number of the debit card of the person to whom you want to send money. We recommend providing the CLABE. The CLABE is printed on the account statements that your recipient receives from their bank in Mexico.

4. If your recipient in Mexico does not have a bank account, we may be able to help you pre-open one from here. Ask one of our associates about this program.
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When does the money arrive in Mexico?

The funds are available in the bank account in Mexico after 2:30 p.m. (central time) on the business day after your credit union sends the money.
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Why should I have a credit union account when using Directo a Mexico?

Using your credit union to send money through Directo a Mexico enables you to receive a low transfer fee and a more favorable exchange rate. In addition, your money is safer in the credit union than in your pockets or underneath the mattress. Having an account is the best way for you and your family to build a credit history and to have access to other financial services such as a credit card or loan. A credit union account is essential for a better financial future.
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What is the CLABE?

It is the Clave Bancaria Estandarizada (Standardized Bank Key), a unique identifier- 18 digits in length- assigned to each bank account in Mexico that guarantees that transferred funds are posted only to the account instructed by the client.
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Will I lose the money in my credit union account if I return to Mexico or am deported?

No. The money belongs to you, and you can easily access it through an ATM in Mexico using your debit card or by instructing your credit union to transfer it to the account that you have indicated and previously authorized.
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Does the receiver in Mexico need to have a bank account?

Yes. The beneficiary can receive money is his or her bank account and can withdraw it using a debit card at any ATM in Mexico. We recommend that the beneficiary make cash withdrawals from the ATMs belonging to the bank where he or she has an account because the withdrawal fees wil be lower or nothing.
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Will I still get a great exchange rate if I only send a small amount of money?

Yes. Every transfer always receives the best exchange rate in the market regardless of the amount.
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Which Mexican financial institutions participate in the Directo a Mexico program?

The following financial institutions are currently participating in the Directo a Mexico program:

Banco National de Mexico
Banco Serfin
BBVA Bancomer
Banco Santander Mexicano
Banco Nacional del Ejercito
HSBC (BITAL)
Banco del Bajio
Ixe Banco
Banco Imbursa
Banco Interacciones
Banco Mifel
Scotiabank Inverlat
Banco Regional de Monterrey
Banco Invex
Bansi
Banca Afirme
Banco Mercantil del Norte
ABN Amro Bank Mexico
American Express Bank Mexico
Bank of America Mexico
Bankboston
Banco Aztecan
BANSEFI
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