How does Directo a México benefit U.S. financial institutions and their customers?
Directo a México helps U.S. financial institutions capture a larger part of the rapidly growing U.S. to Mexico remittance market. The program also supports customers by providing a secure, fast, low-cost and convenient money transfer product for financial institutions to offer to their customers. The service that supports Directo a México, FedGlobal Mexico Service, is priced so that U.S. financial institutions can offer it at extremely competitive rates. The service is offered to financial institutions at the very low, per-item surcharge of $0.67. Of course, financial institutions add value to the payment and are expected to charge a higher, but still extremely competitive fee to customers. The wholesale foreign exchange rate applied to every payment – regardless of amount – means that the receiver gets more pesos for every dollar sent. The Directo a México exchange rate can benefit all parties to the transfer, especially receivers in Mexico. Compared to the foreign exchange rates in a
