Daily Archives: July 13, 2010

The Ways to Transfer Cash To Mexico

Ever wonder what effect the people transferring cash into Mexico – including immigrants, citizens or “unofficial” residents – has on Mexico’s economy? The Mexican government says remittance made up approximately $25 billion of the countries $1.6 trillion Gross Domestic Product (GDP) in 2008. The government also says worker transfers into Mexico has yet to account for 1% of Mexico’s GDP. Many argue the validity of these claims however, since many of those Mexican workers sending money back home do so without presenting I.D. since they are making their living “unofficially” in the United States. Similarly, the recipient is not required to ...