US Edition
Mexicans in US Can Avoid Remittance Tax with Government Finabien Cards, Sheinbaum Says
24 Articles
24 Articles
Before the entry into force of the one percent tax on remittances from the United States, in January 2026, Financiero para el Bienestar (Finabien) aims to provide Mexican migrants with at least 100,000 cards with which they can make monetary transfers at lower prices.
Fintech banks and companies can charge up to 800 pesos for every thousand dollars sent to Mexico, due to differences in commissions and exchange rate, warned Adolfo Fito Torres, founder of remittancesmx.org, a digital platform known as a ‘who is who’s who’ in remittances. “What is a fact is that our remittances, starting in January, will have a tax. People will clearly receive less resources here in Mexico,” warned the former federal representat…
Santa Maria Times
MEXICO CITY (AP) — Mexico announced Friday the expansion of a bank card, which can be obtained at consulates or ordered online, with which Mexicans would dodge the 1% tax on approved remittances...
María Gil Mexico City, July 19, 2025 The Mexican Government, through the Financial Fund for Welfare (Finabien), has launched the Finabien Card, a financial tool aimed at the migrant community seeking to send money to Mexico from the United States without being affected by the new tax of 1% approved in the United States Senate for remittances sent in cash, which will enter into force on January 1, 2026. The Finabien Card, also known as the Paisan…
Mexico City.- Before the one percent tax on remittances enters into force in January 2026, the Finabien (Finabien) plans to hand over 100,000 cards to Mexican migrants in the United States, in order to facilitate the sending of money to Mexico at a reduced cost and without compromising their safety. Rocío Mejía Flores, director of Finabien, reported that these cards will allow for transfers with a commission of $3.99 per shipment, which will go …
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