Want to Send Money to Mexico Without Tax from the U.S.? 50,000 Mexicans in the U.S. Have Already Applied for the Finabien Card

• Claudia Sheinbaum announced that 50,000 Mexicans in the US have already applied for the Finabien card, a new option for sending money to Mexico.
• Millions of families depend on remittances to Mexico, and the new tax will directly affect the amount they receive.
• The government aims to provide the card to all Mexicans in the US, with both in-person and digital application options.

The Finabien bank card, promoted by the Mexican government, has generated significant interest among nationals in the US: 50,000 have already applied for it.

It is designed for sending money to Mexico without paying the tax that the US will implement starting January 1, 2026.

The official plan is for any Mexican in the US, regardless of immigration status, to be able to obtain it at consulates, by mail, or online.

Finabien Card: The Strategy to Avoid the Remittance Tax

Sheinbaum introduced the card early last month as an alternative for electronic transfers.

The goal: reduce the impact of the tax that will affect those using cash through services like Western Union or neighborhood stores.

Currently, 70% of remittances to Mexico are sent electronically, while the remaining 30% are still sent in cash.

Distribution of the card began last week, with the capacity to meet full demand.

Benefits of Sending Money to Mexico Without Tax

For those sending money in cash, the Finabien card can mean real savings.

• Avoiding the 1% tax protects migrants’ finances and ensures that families receive the full amount intended for essential expenses.
• A family receiving $500 per month would lose $60 a year if they do not switch to an electronic method.

In addition, digital transfers are generally faster and more secure.

Opinions and Official Support

• “The option is to do it electronically through the Finabien card,” said Sheinbaum, emphasizing that this avoids the tax and facilitates sending money.
• The BBVA Foundation and CEMLA have warned that stricter immigration policies and fear of deportations are already affecting remittances to Mexico. In addition, the peso’s appreciation reduces the purchasing power of recipient families.

Expectations for the Finabien Card

The challenge will be to transition that 30% of cash users to the electronic system before 2026.

The government is betting that the ease of applying for the card and the savings compared to the tax will speed up the shift.

Its impact will depend on user trust and the speed at which the cards are distributed.