> At a Glance
> – A new 1% tax on cash, money-order and cashier-check remittances to Mexico began January 1
> – Mexico’s Finabien reloadable card lets users move up to $2,500/day or $10,000/month for a flat $2.99 fee
> – Because money travels between the sender’s and recipient’s linked accounts, the transfer is not classified as a taxable remittance
> Why it matters: Cash-strapped senders can legally sidestep the levy and keep more money in relatives’ pockets
A little plastic card issued by Mexico’s public development bank could save U.S.-based senders from the country’s brand-new cash-remittance tax. The trick? Skip cash services entirely and load funds onto a pair of linked debit cards instead.
How the Finabien Card Works
The program provides two Visa-branded cards tied to a single U.S.-based account. One card stays with the sender; the second goes to a trusted person in Mexico.
- Load dollars stateside through any Visa network location
- The recipient swipes or withdraws pesos in Mexico
- No interest earned-it’s a prepaid debit product, not a bank account
Mexican Consul Hugo Juárez Carrillo in San José explained the appeal:
> “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.”
Cost, Limits and Sign-Up
| Daily Cap | Monthly Cap | Fixed Fee |
|---|---|---|
| $2,500 | $10,000 | $2.99 |
Obtaining the plastic takes no appointment. Walk into any Mexican consulate with:
- An official ID (INE, passport or matrícula consular)
- An active email address
Staff in San José currently process 80-100 cards monthly, but demand is ticking up since the tax kicked in.
What Senders Think
José Villafan, who regularly supports family south of the border, welcomed the savings:
> “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.”
Key Takeaways
- Cash, money-order and cashier-check transfers now incur a 1% levy
- Finabien card transfers are account-to-account, so the tax does not apply
- Users pay $2.99 total regardless of amount sent within the stated limits
- Cards are available on the spot at Mexican consulates across the United States
For senders looking to preserve every dollar, the plastic route offers a legitimate workaround to Mexico’s new cash tax.
