When and How to Transfer Your Money to Mexico to Get the Most Pesos

Video quality	The size	Download

Information When and How to Transfer Your Money to Mexico to Get the Most Pesos

Title	:	When and How to Transfer Your Money to Mexico to Get the Most Pesos
Lasting	:	14.26
Date of publication	:
Views	:	101 rb

Ready to Move to Mexico? Check out the COMPLETE Mexico Relocation Guide bitly/3SICdD0 brBoost Your Spanish youtube/Nzc1oRSAPQ0
Comment from : Qroo Paul & Linda

Thanks for continues updates! am super excited about how my investments is going so far, making over $13k every week is an amazing gain🤗
Comment from : Jack Wilson

16 pesos to the US dollar now, 115 pesos to Canadian, that with the increased costs here in Baja Sur is making it very difficult
Comment from : Rysheak Lightwon

Hello Paul, great videos as usual Do you think having a Charles Schwab account to transfer money to Mexico is a good idea since they reimburse you for ATM transfer fees? Thank you
Comment from : Lolo Gonzalez

thank you for your wonderful videos br bracajudi100 YouTube from age 70 to 75 i will be 81 in October living in Queretaro br brnever give anyone a brick to hit you in your head br brI was so blessed, that my great grandparents educated me on life and how to deal with it br brReal Truth br brI moved to Queretaro at 79 in 2021, when USA became too deadly and expensive I love this cool and safe city brThank God, I do not have to beg for donations My pension takes care of all, and I always pay it forward to non-beggars I have been visiting and ' in Mexico, mainly Acapulco br brI married twice and one daughter at 37 I was 20, when I first visited Mexico I moved at 79, but marriage was not in my life br brI loved Acapulco for over 61 years, and earthquakes were the deal breakers Do not bring your stuff or store it, br br brPlease keep your people, who cannot afford to leave legally in your country br brat 79, I called 1/800 GOT Junk to empty my 885 sq ft 2 bedroom apartment of almost 24 years It was a nice area but became deadly and expensive I was born and raised in |Chicago, and we do not play, if messed with by anyone I did not sell anything due to the fake money and the deadly criminals I was tired of heavily blocking doors, windows, air con I slept with weapons and was always ready to protect myself in or outdoors
Comment from : acajudi100

What about broxel?
Comment from : Scotto

Surely, the price of the car would increase if the peso devalues Savvy dealers with stock will increase the price of the car and hence make a bigger profit Subsequently, the manufacturers costs will increase and so they will increase the price of the car The opportunity to make a killing will be very brief
Comment from : David Viner

In every other country I've lived in I opened two accounts One in dollars and one in local currency When the rate was favorable I would just transfer from my dollar account to my local account Are you saying that there is no dollar accounts in the banks here?
Comment from : tootz1950

Go back wherever you came from
Comment from : ANTONIO GONZALEZ

Watching this is/was a "light bulb" moment
Comment from : Korlil Katana

I think you need to get smarter friends, because nothing confusing about, "getting the biggest bang for your buck" We're looking at purchasing a condo in Playa, but the recent drop from 20 to 18 pesos (10) means we'll be paying an extra $15,000 for the unit we're interested in I would like to get my dollars into pesos at the most favorable rate, prior to pulling the trigger on the purchase However, we can't open a Mexican bank account as you stated, because it requires Mexican residency Is there another option for storing pesos in Mexico in preparation for our purchase?
Comment from : Tom S

Paul, who's supposed to be watching your videos kindergarteners? LOL
Comment from : terry smith

Paul, how serious is the problem of the smoke from forest fires in Guadalajara? How long does the smog last and when? Is there a time to avoid it seems when visiting the city? Thanks
Comment from : Dovy Goodguy

This was incredibly helpful for us We just received our temporary resident visas in Merida without a hitch Thank you Paul
Comment from : Ross Phillips

Just found your site My wife and I retired to Mexico in March 2012 and have not been back to the states since I consider myself fairly expert at living here and we love it I am still learning from your vidios and look forward to the next one in most cases Keep up the great work I only wish you had been here in 2012
Comment from : Ed Rasa

I have a question!! how expensive it is to file your taxes living away from USA?
Comment from : Jorge Ramirez

Really enjoy your videos ! Keep up the great work I look forward to visiting Mexico in the future
Comment from : Michael Latta

Currency exchange for dummies…me, not you 😅Very well presented with excellent and humorous examples Thanks a bunch!
Comment from : L Alva

Thank you from Queretaro
Comment from : Judith Grace

If you use an American credit card, and have them charge it in Mexican pesos, does the credit card company give you the best exchange rate for the day you charge it?
Comment from : 1bluensx

Becarefull i just saw in youtube a mexican program called mexican family uber is dangerous women have been raped n killed thousands check with American Embassy or FBI public transportation is save buses trains its seriousthis happening in Chile,Peru,Colombia
Comment from : blanca bulgrin

What about exchange rate fees, how do they impact what you really get in pesos?
Comment from : 2Cartalkers

Excellent presentation and use of examples
Comment from : 2Cartalkers

Paul gives some good advice (within certain limits) Also keep in mind that the reason bad news can cause the USD to go up and the MXN Peso to go down is because of risk and stability I wouldn't push a 'lot' of money from USD to Peso just because the exchange rate is better today than yesterday because things could get worse For example, back in 2012 the exchange rate was 12:1 and jumped to 13:1 If you would have converted a large amount of money at that time, you would have been buying into a market that was going to 20:1 That would be a loss of 60 To me it makes sense to only speculate on currency conversions with a few months spending-money By the way, a 'lot of money' is a relative term depending on your financial situation brbrI would NEVER recommend converting or transferring a large percentage of your wealth to any country other than the prosperous and well managed countries in western Europe (Switzerland, Holland, Finland, Denmark, US, Canada, UK, Germany, Sweden, or Japan)
Comment from : Otto Matieque

i need all you know, i will watch all your vidios because i am coming down for vacation God bless you Mr Paul!
Comment from : Teresa Baeza

the same happens to the cuban pesos: Last years i send $100 dollars every month, and my family were getting about $400 pesosbrThis years the pesos went down the drain and the dollar went up, so now i get $15000 pesos for the same $100 dollars Is that crazy or what!
Comment from : Teresa Baeza

Do you have a video on the major differences you need to be okay with when moving from north america to mexico?
Comment from : Veronica

I've been in Mexico for about 3 years I've used OFX to transfer from my US bank to my Mexican bank Just compared with Wise and would save $22 on a $1000 transfer I was surprised Thanks!
Comment from : Carl Kaufman

great video…how do we get Grant Cardone off of youtube videos?
Comment from : Me Llamo Diego

I think we’ll see thousands of people moving to Mexico in the next decade People who retired too soon see their money draining away, add in the crazy economy/inflation
Comment from : Dan

Thank you for all of your videos! I have an off topic question but I can’t find a video ON topic :) brI am an American, recently obtained a permanent residency card, obtaining RFC next week, and plan to move to Yucatán by the end of the year I work from home so will continue to earn an American dollar income Will I be required to pay additional taxes on my income in Mexico?
Comment from : KC Wright

Thanks so much Paul! I love the chicken analogy Perfect for Mexico You explain this concept so well These days our banks NOB are making it easier for transferring money to Mexico (I'm Canadian and BMO just added a international transfer service for just $5) I have been using Wise for a couple of years now as an intermediary and still do but it's good to have a secondary option
Comment from : Ana Fernandez

Can you update this? Still liking Wise?
Comment from : Not Necessarily Inaccurate

Great info, really appreciate your time and energy Your time and work influences a life time of good living for so many
Comment from : Andrew

Awesome info Quick question thoUgh What if I send money to Mexico from us when the peso worth is high… let’s say I let a family member borrow it… when would it be ideal to send the money back from Mexico to US? When the peso worth is low or high again?
Comment from : Jorge Valencia

What are you going to do when the dollar goes down, and the Mexican peso becomes the powerful currency? It’s happening now
Comment from : Lily_DeLeon

Great info Thanks
Comment from : ted rick

Have you looked at Intercam Banco? Just opened an account there One of the only banks that doesn't require an RFC to open an account
Comment from : Joseph

Looking forward to the video on opening a Mexican bank account 😊
Comment from : Susan Cowlishaw

Great info I have been researching what it takes to live in Mexico
Comment from : MYC10

Very very helpful thank you
Comment from : Derek H

Wise seems to give the best rates, by quite a margin Thanks
Comment from : J 777hemi

5:20
Comment from : Andrea Wisner

Has anyone tried Wise?
Comment from : Paul Gorman Golf

Have you thought about Actenver and have you looked into it?
Comment from : Tim Coil

These videos are very well thought out
Comment from : douchebagout

Someone referred me to your channel,and said you guys where really good… they where wrong , you guys are outstanding! I could stammer on but I’m too busy watching your other clips
Comment from : 1879gym

Does Transfer Wise work for Canadians?
Comment from : T

Any idea on best way to send money to the US? I’m renting property in Mexico, but still live in The States and I’m trying to figure out how to collect my money
Comment from : Rock Bottom

I am currently in the process of retiring to Mexico This video is very helpful! Thank you and just subscribed
Comment from : Mateo R Magdaleno

very good explanation Saludos from Florida
Comment from : marina balducci

Thanks for the great info! Cant you do the virtual currency and virtual account with Transfer Wise?? Can't you use a card from Transfer Wise like a debit card? Or am I mistaken?
Comment from : Power of Knowledge

Hi, new to your channel and loving it! Did you ever make a video on virtual currency accounts?
Comment from : dennis mintling

Great Video!
Comment from : Lefty Lang

Thank you for the information Very helpful
Comment from : Ismael Nava

Thank you Paul Please do a video on how to shop for a good, safe and secure bank In my case Mexico City You and your wife are FANTASTIC !! 👋👌👌👍👏🙌🙏
Comment from : John Kokes

Thank you for your information, so valuable
Comment from : Noemi Aranda

Well see if we continue to get $20 mnx since trump printed off a lot of chickens
Comment from : Francisco Burgos

Which bank do you have in Mexico Paul?
Comment from : S L

I'm impressed with your knowledge and teaching skills Thank you! Can a person take advantage of currency rates even if they don't live in Mexico? Maybe that question will be answered in your future videos when you mentioned virtual currencies
Comment from : Andrea

Once I get boots on the ground so to speakThe first 2 tasks I must get done are to find an apartment and open a mexican bank account
Comment from : Elsinore Brewing

What a great video I'm a big fan Keep em coming!
Comment from : EFTSoulPath Laurel Brookes

I thought this was one of the most beneficial videos you have done, and you have many I never thought about strategically transferring money from bank accounts I simply thought of transferring regular payments to my future Mexican bank account to save a step and fees, but, as you aptly noted, the rates vary widely and mostly predictably I also like the fact that you are straight to the point and keep your videos relatively short If I may ask, do you have any experience with reporting a foreign bank account? I assume the IRS wants to know where you keep your money so they can tax you appropriately, but do you know of anyone that has had any problems with reporting a Mexican bank account to the IRS?
Comment from : Raphael Sanchez

Great video!! I don’t mind going out and living in Mexico full-time two years now and this is the best video I’ve seen, great job I love to see a video or learn more about what the different factors are that affect the USD/MXN exchange rate Any resources you can point me to?
Comment from : Jeff Gamby

Thanks for all you videos, you information is extremely helpful and you style is very east to follow Enjoy you nomad times!! We are on out way to Ajijic to move into our new home and help to have a Mexican bank account by mid Jan 22 Hope to run into you guys some day Come explore the interior ;-)
Comment from : Overworkin

I'm suddenly hungry for chicken Good stuff, QRP, thanks!
Comment from : RobEJC

Super info again Really appreciate all your vids & links
Comment from : Max Kelter

I usually go to the ATM when the exchange rate is high when overseas vs the us dollar, much cheaper than any transfer option I don't use my US debit card or credit card to buy ANYTHING overseas brBank to bank is the next cheapest
Comment from : Go Canada

This video is worth its weight in gold Paul Should be on every expats reading list
Comment from : tommyd

You are so good at explaining things! Any updates for Canadians?
Comment from : The Tip Sheet

Hi Qroo-Paul, brwhat website are you using to monitor currency exchange rates? Can you share the link with your followers? Would be greatly appreciated
Comment from : Rudy Villarreal

Very clear explanation
Comment from : J R

Thank you for this video !!!! I've been traveling back and forth to mexico every month since 2016 Back in 2018 I wanted to open up a Mexican bank account in Puebla and the bank told me no because I did not have a home address in mexico I plan to retire in mexico in 2035 but right now I am pre planning looking for land to buy and to build my dream home in Puebla so when I do retire everything will be ready for my move over there Thank you for your videos they have helped me so much in understanding alot of different aspects of retiring in Mexico in the future
Comment from : GenX Warrior

Wise (former Transferwise) offers bank accounts in Pesos and 45 other currencies Useful if you don’t have a Mexican account yet
Comment from : Susan Rose

Hi Paul, brCan I open a bank account with a tourist visa? I’m an American, relocating to Mexico from Indonesia next month Because I’m traveling with pets, it’s impossible for me to stop at a place that has a Mexican Embassy I planning to do the paperwork when I get to Mexico What are your thoughts? Thanks
Comment from : Marion Ellner

I'm a mexican looking for a remote work in the US and I was looking for a card or transfer app to convert the currency if I found a job, thank you very muuuuch!!!! ❤️❤️❤️
Comment from : Alexa Meraz

Great breakdown and illustration on converting
Comment from : Take It Zen, Man

Paul, thank you for the video, I have a question for you I am not sure if in a video you mention that there are companies that can help me to move my stuff from USA to Mexico I expect to move there but there are many thing that I want to take with me I will have a fixed residence for my retirement So if you can, if you know a honest company that you can recommend to me would be great Gracias
Comment from : Victor Castrellon

Grilled Cheese Bandidos Travel Adventures

I was like your friend just nodding until you brought out the chickens lol, Ty It made it very clear Off to watch how to open a Mexican bank account!! Soooo much to learn in a short time, Ty for your videos
Comment from : Grilled Cheese Bandidos Travel Adventures

XE is way better i just got 161 for CAN $ and Tranferwise is offering 159 on a $1000 CAN 🏦 OFX 155 and XE for USD is 204 now and wise only 201 If you make a "Order" on XE you get a better rate
Comment from : toonietom

Hi Paul, I used your advice on how to transfer money to Mexico like 6 month ago, it worked perfectbrNow, the question I have, do you have an idea of how to do the same thing but in reverse? brI mean, I want to transfer some of the money back to the US, but I have not figure out a good waybrDepositing $1k into my US account is no problem, but when it comes to larger amounts like $25k is a bit more complicated Exchanging money, sending it back to US, etcbrbrThanks
Comment from : Lalo Ramirez

You are an excellent teacher I admire your patience I have on some occasions tried to explain why I use Wise and have a Mexican bank account The blank stares can be more than I am up to dealing with
Comment from : Elizabeth Boothe

Thank you Really informative
Comment from : ron403b

Just found your channel, this is good informationthanks
Comment from : Global Granny

If you never travelled out of your country you have no idea about other currencies
Comment from : Billy Johnson

I just recently found your channel and love the content I plan on some day wintering in Mexico and have learned so much from your videos brThanks so much!!!
Comment from : Brian

Good simple video
Comment from : Stroker Ace

I lived in Mexico and am moving there again Thanx so much for the info! Very helpful
Comment from : Asha Wise

(This is not a scam or advertisement, just want to help you get more for your money) A better way to transfer money is by using a cryptocurrency named XRP, is cheaper, faster and real time settlement, XRP is a cross border currency in other words a bridge among currencies
Comment from : TJ Lopez

Thanks for making videos that actually give straight advice and not a bunch of fluff
Comment from : PJ Fountaine

Thank you for all the information , is very helpful I am thinking of retiring in Puerto Vallarta wish i have visit 13 time I will continue watching your videos Thanks you
Comment from : Blanca I Gonzalez