MEXICO · ECONOMY
Key Facts
- Power Index Mexico ranks 2nd of 14 in The Rio Times Latin America Power Index, with 71.4 points (October 2026 edition).
- What is happening Mexicans abroad sent home US$5.36 billion in September, up 1.6% on a year earlier and the fifth month above US$5 billion.
- Why it matters Remittances help pay for food, rent and school costs in many Mexican households, so a slowdown would be felt widely.
- The numbers January to September brought US$47.16 billion, up 2.1%, with 12.6 million transfers in September, down 6.3%, averaging US$426.
- Who is who Banxico is Mexico’s central bank, which publishes the data; most of the money comes from workers in the United States.
- What to watch October data in early December, and whether fewer but larger transfers continue as the number of payments keeps falling.
- What it means for you Senders in the United States pay a 1% tax on transfers made with cash or money orders since 1 January.
Mexicans abroad sent home US$5.36 billion in September, 1.6% more than a year earlier. It is the fifth month in a row above US$5 billion.
Remittances to Mexico, the money migrants send home, reached US$5.362 billion in September 2026, up 1.6% from a year earlier. The figure comes from the central bank, Banco de México (Banxico), in its report released this week.
For US readers, most of that money starts in American workplaces, bank accounts and transfer apps. It equals about US$179 million a day, so small changes matter to household budgets and to US money-transfer firms.
What the September Report Shows
Banxico counted 12.6 million transfers in September, 6.3% fewer than a year earlier. The average transfer rose 8.4% to US$426.
That pattern, fewer payments but larger ones, has held through the year. Over January to September there were 114.9 million transfers, down 2.7%, with an average of US$411, up 5%.
Of the US$46.773 billion sent electronically in nine months, 53.6% was deposited in bank accounts. The other 46.4% was collected in cash by recipients, according to the bank’s figures.
The nine-month average is about US$5.24 billion a month. September’s total was 2.3% above that average.
September was lower than August, which came in at US$5.452 billion and fell 3.6% from a year earlier. The September result therefore returns the monthly total to annual growth.
Five Months Above US$5 Billion
Monthly inflows were US$5.611 billion in May, US$5.472 billion in June and US$5.571 billion in July. They were US$5.452 billion in August and US$5.362 billion in September.
April, at US$4.978 billion, was the last month below the US$5 billion line. September was the lowest of the five months above it.
In the first nine months of 2026 Mexico received US$47.164 billion, US$980 million more than a year earlier. The 12 months to September total US$63.452 billion, against US$63.370 billion to August.
Almost all of it, 99.2%, moved by electronic transfer, and the rest was cash, in-kind payments and payment orders. Residents of Mexico also sent US$972 million abroad in nine months, up 11.4%.
What It Means for You
Sending money to Mexico by cash, money order or cashier’s check carries a 1% US federal tax since 1 January 2026. The sender pays it and the transfer company collects it, under Internal Revenue Service Notice 2025-55.
For investors, steady dollar inflows may help Mexico’s currency and its consumer economy. Money-transfer firms and banks that serve Mexican families in the United States handle the flows behind these numbers.
Earlier reports cover the warning on lost purchasing power and July remittances falling in pesos. More is on the Mexico hub, in Mexico and the United States explained and in the Mexico City guide.
What Is Not Known
Banxico’s own September report could not be opened in full, so September figures are as reported from the bank’s release. Nothing found explains why the average transfer keeps rising while payments fall.
It is not known how much of the gain reflects higher wages, fewer smaller senders, or people moving money in larger amounts. The October figures are due in early December.
Frequently Asked Questions
How much money did Mexico receive in remittances in September 2026?
Mexico received US$5.362 billion, up 1.6% from September 2025. Through the first nine months the total was US$47.164 billion, up 2.1%.
What is a remittance?
A remittance is money a migrant worker sends to family in their home country. For Mexico, most of it comes from workers in the United States.
Are remittances to Mexico rising or falling?
Dollar totals are rising slightly, up 2.1% this year. The number of transfers is down 2.7%, while the average amount is up 5%.
Is there a US tax on sending money to Mexico?
A 1% federal tax applies to remittances paid in cash, by money order or by cashier’s check since 1 January 2026. The notice applies only where the sender hands over cash or a similar physical instrument.
Sources: Banco de México, Ingresos y Egresos por Remesas, agosto de 2026 (released 1 October 2026) and Banxico remittance release for September 2026, as reported by Mexican media on 3 November 2026; Banco de México, Ingresos y Egresos por Remesas, mayo de 2026 (released 1 July 2026); US Internal Revenue Service, Notice 2025-55 (all accessed 3 November 2026).
Editorial responsibility: Matthias Camenzind, Editor-in-Chief · Editorial standards · Report an error