Electronic transfers surpass cash transfers

Remittances sent to Mexico by Mexican migrants from abroad have undergone a fundamental shift in how recipients receive them. For the first time, in 2025, the amounts deposited directly into bank accounts exceeded those collected in cash, a trend that continued through the first quarter of 2026, according to an analysis by the Center for Latin American Monetary Studies (CEMLA).

Data from the Bank of Mexico processed by CEMLA shows that between 2013 and 2015, remittances deposited into accounts remained virtually unchanged, while those paid in cash grew. Starting in 2016, both categories increased, although cash remittances peaked in 2022, after which they have fallen steadily from US$42 billion to just US$30.866 billion in 2025.

Meanwhile, remittances deposited into bank accounts rose from just over US$15 billion in 2022 to US$30.331 billion in 2025. In other words, by that year, this type of remittance already accounted for 50.5% of all electronic remittances received that year. According to CEMLA, the trend has continued in the first three months of the year, and the proportion now stands at 52.7%.