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The Ministry of Finance and Public Credit has as a priority to protect the income of Mexicans, including migrants
- The Ministry of Finance and Public Credit has as a priority to protect the income of Mexicans, including migrants. In this sense, the strategy is presented to reduce the costs and risks of transactions carried out in cash and improve the exchange rate received by migrants and their families for sending remittances, as well as.
- The strategy consists of reinforcing and expanding the coverage of financial services, under the best terms and conditions, so that remittances in the national territory are carried out in a simple, safe and economical way.
- Mexican migrants in the United States and their families in Mexico may be banked through the Banco del Bienestar; Accounts can be opened remotely from the United States, using the consular registration or passport, issued by the Ministry of Foreign Relations.
- Migrants will receive guidance on the program through the Institute of Mexicans Abroad at the Financial Advisory Windows (VAF) of the consulates, where they can receive the corresponding international debit cards.
- In addition, the Treasury and CNBV will provide the appropriate regulatory conditions to expand the offer by different financial services actors with online identification authentication.
- Among other actions, Banxico will develop a system with which financial institutions can carry out, quickly and efficiently, the profiling of migrants with whom they carry out operations.
- The Association of Banks of Mexico is committed to making credit institutions offer the best exchange rate anywhere in the national territory, reducing the disparity in the exchange rates that migrants and their families can obtain in various regions of the country.