People who send money to Mexico now have an alternative that may help them avoid paying the new remittance tax that went into effect this January. As of Jan. 1, remittances sent to Mexico are subject to a 1% tax if they are sent in cash, money orders or cashier’s checks. However, using a differ ent transfer method could help minimize the impact of the tax on your wallet. The option is a card from Mexico’s public banking institution Financiera para el Bienestar. The card, called Finabien, is linked to a U.S.-based bank account and allows you to send up to $2,500 USD per day or $10,000 USD per month to Mexico for a fee of $2.99. According to the Mexican government’s official website, it is possible to avoid the tax by using this card because the transfer is made from your own account, rather than as a traditional cash remittance. It is emphasized that the funds are legally yours regardless of your immigration status and are therefore protected. “We provide people with two cards — one for use here in the United States and another to send to a trusted person in Mexico — so that both cards are linked to the same account,” explained Hugo Juárez Carrillo, a Mexican consul assigned to San José. Lawsuits Jan 6 San Diego sues federal government over razor wire fence near U.S.-Mexico border Trump administration Nov 3, 2025 Trump administration is planning new mission in Mexico against cartels, U.S. officials say Carrillo explained that the card works similarly to a debit card: you can load money onto it using the Visa network, and the recipient can then use the card to make purchases in Mexico. “This is not a bank account; it is simply a reloadable debit card that does not earn interest,” Carrillo noted. Those who wish to obtain one of the cards can do so by visiting a Mexican consulate in person. No appointment is required. To get the card, you will need an identification document such as an INE voter ID, consular ID (matrícula consular), or passport, as well as an active email address. “I feel like it’s a good option because we’ll pay less, as long as they don’t make us waste a whole day or tell us we need something else,” said José Villafan, who sends money to Mexico. According to Carrillo, they process 80 to 100 of these cards each month in San José; however, since the new tax took effect, they have begun to see an increase in demand. For more information about the debit card, click here. ...read more read less