Remittances fall 3.6% in August to $5.452 billion, Banxico says
There were fewer transfers, but each one was larger. So far this year, money sent home from abroad is still up 2.2%.
Money sent home by Mexicans living abroad fell in August. According to the Bank of Mexico (Banxico), remittances in August 2026 totaled $5.452 billion, down 3.6% from the same month of 2025. The figures were released on October 1.
Fewer transfers, but larger ones
The central bank said the decline came mainly from fewer transactions: 13.2 million, down 6.4% from a year earlier. The average transfer rose 3% to $412, which partly offset the drop.
The year-to-date total is still up
From January through August, Mexico received $41.802 billion, up 2.2% from the same period of 2025, according to Banxico. There were 102.3 million transactions in those eight months (down 2.2%), and the average transfer was $409, up from $391 a year earlier. Over the past twelve months, from September 2025 to August 2026, the total reached $63.37 billion.
Nearly all of the money now arrives digitally. Electronic transfers made up 99.1% of the year's total. Cash and in-kind transfers were 0.7%, and money orders were 0.2%.
The central bank also tracked money flowing the other way, out of Mexico: $126 million in August, up 37.8% year over year.
What it means for Cancún
Many Cancún families receive money from relatives in the United States, and for them a remittance is direct income for groceries, rent or school. Fewer but larger transfers suggest the money is coming in fewer transactions, so keeping the cost of each transfer low matters more.
Before you send or receive money:
- Compare the total cost, not just the fee. The exchange rate each company applies costs you money too. Mexico's consumer agency Profeco runs a tool called "Quién es Quién en el Envío de Dinero" that compares fees and exchange rates across transfer companies.
- Ask how many pesos you will receive before your relative sends the money, and compare that with the day's exchange rate.
- Use an account when you can. When money goes into a bank account or another authorized institution, you don't have to carry cash, and every transaction leaves a record.
- Watch out for scams. No legitimate company will ask you to pay a "fee" to release a remittance or to share your PIN or passwords by phone or WhatsApp.
- If you have a problem with a bank or transfer company, you can file a complaint with Condusef, Mexico's financial consumer protection agency.
Banxico publishes remittance data every month and a state-by-state breakdown every quarter, where you can see how much money reaches Quintana Roo.
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