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What's the best way to transfer dollars from USA?


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I will have social security soon, deposited into my USA bank account.  What is the cheapest way you have found to get that money into Mexico as pesos?  I am not talking about physical currency exchange, but transferring money by bank wire, PayPal, ATM, etc.  I don't want to lose 3% (or more) all the time.  Have you found a better way?

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The 2 answers you received are correct...Join a bank / CU that rebates ATM fees...Have your SS funds directly deposited there..Leave them in the U.S. bank / C.U. ..Use your new ATM card to get all your Peso's.

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I have found it handy to have a Mexican bank and deposit US checks. It takes less than a week to clear.   I use Mexican bank cards in Mexico and US bank cards in the US. I live here full time.  Many folks have had bad experiences with mexican banks to be fair.  I got tired of trying to sort out the ATM issue since BOA got rid of its local partners programs. Latest problem was Bancomer (biggie in Mexico) not taking foreign cards at Bancomer ATMs.   Mystery fees, fraud, and security are also issues sometimes at ATMs.  I only use ATMs at my bank and when travelling in Mexico at other branches of my bank.  Not saying other solutions are not good  but  I prefer my method.  All money goes into US bank accounts and I write checks to transfer it down here as needed.  Whether my method or ATM method with no fee cards you still need to pay attention and keep all receipts forever.   

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Thanks for all of your answers.  I did additional research and here is what I found so far:  The fees...or lack of fees...is almost unimportant.  It is the exchange rate that matters most.  Many banks take 3% of your money on the exchange rate, so if they waive a $7 ATM fee it hardly offsets it.  It would be like a restaurant that does not permit tipping, which sounds good, but they charge 30% more for the food!

Charles Schwab SEEMS to take only 1%.  Transferwise takes 1.5% and may be easier to set up.  These are the best I found.  I could not get a rates from XE because they seem to require you to create an account before they tell you their rates.

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