> At a Glance
> – Mexico’s Finabien reloadable debit card lets users move up to $2,500 a day or $10,000 a month for a flat $2.99 fee
> – Transfers skip the 1% cash-remittance tax that took effect Jan. 1 because money stays within the sender’s own U.S.-linked account
> – Cards are issued free at Mexican consulates; demand has risen since the tax started
> – Why it matters: Senders keep more money in their pockets while recipients in Mexico spend with a second card tied to the same balance
A new debit-card option from Mexico’s public development bank is giving U.S.-based senders a way to dodge the 1% tax that now hits cash, money-order and cashier-check remittances.
How the Finabien Card Works
The Financiera para el Bienestar program provides two Visa-branded plastic cards: one for the U.S. sender and one mailed to a trusted person in Mexico. Both draw from a single U.S.-domiciled account, so loading or spending the money is treated as an internal transfer rather than a taxable remittance.
- Daily cap: $2,500 USD
- Monthly cap: $10,000 USD
- Fixed cost per load: $2.99
- No interest earned; card is reloadable only
Mexican consul Hugo Juárez Carrillo in San José explains:
> “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.”
Recipients can shop in-store or online and withdraw cash at any Visa-enabled ATM or point-of-sale terminal across Mexico.
Getting the Card
No appointment is needed. Applicants must visit a Mexican consulate with:
- INE voter ID, consular matrícula, or passport
- Active email address
Staff in San José currently process 80-100 cards each month and report a noticeable uptick since the tax kicked in.
José Villafan, who regularly sends money south, likes the math:
> “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
- The Finabien setup legally bypasses the 1% levy by keeping funds inside the sender’s account
- Cards cost nothing to obtain and carry a predictable $2.99 loading fee
- Consulates are seeing higher demand since the January 1 tax change
- Both sender and recipient can spend the pooled dollars immediately via Visa network
For migrants looking to stretch every dollar sent home, switching from cash to plastic could save hundreds in tax over the course of a year.
