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Transfering Money from Mexico to Canada


Frijoles
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I'm thinking of selling my Mexican car and should get between 90,000 and 100,000 pesos for it. I don't want to keep that much money in a Mexican bank. Has anyone transferred a large amount of pesos from a Mexican bank to their Canadian bank account? Unfortunately my Canadian bank isn't affiliated with one in Mexico. I don't have a Mexican bank account yet. Any advice would be appreciated. Thanks in advance.

 

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You might ask friends if they would like to buy pesos, at market rate, but without fees. You could accept their Canadian or US checks, or have them make direct online transfers to your bank in Canada.

Otherwise; I am sure you can think of a safe place to stash the pesos in or near your home, using them for living expenses over the next few months.

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If you have a Mexican bank, you can set up an account at XE. Depost cash in the Mexican bank and ACH it to your Canadian bank. Be aware that some if not all banks limit cash deposits to $15,000p per month. Consider having the buyer wire the money to your Mexican bank or go deposit a personal check.

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SWIFT transfer. Ask your Mexican bank and they should do it. It's international and they have an intermediary bank that can link to your Canadian bank. 

Note: when the money hits your bank in Canada they will probably give you a really bad exchange rate. Personally if I lived here I would keep the money in Mexico. 

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On 12/9/2016 at 1:08 AM, Crazydog said:

 Pasted from the OP 

"Has anyone transferred a large amount of pesos from a Mexican bank to their Canadian bank account?" 

 

Crazydog, you have to learn to read the WHOLE post.....here's a quote from the original post..... "I don't have a Mexican bank account yet."

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