President Claudia Sheinbaum has recommended the Finabien government bank card as a solution for Mexicans living in the United States to sidestep the impending remittance taxes. This new tax will be enforced as of January 1, 2026, on outbound money transfers from the U.S. The Finabien card, crafted by Mexico’s Financial Institution for Well-being, allows users to send funds without paying this tax.
Accessible through Mexico’s 53 consulates in the U.S. or online, the card simplifies transactions by offering reduced fees, direct wage deposits, and an efficient way to send money. Daily transaction limits are set at $2,500, and monthly limits reach $10,000. Additional improvements in consular services, like digitalized applications and removing fees, streamline the process for Mexicans abroad.
These efforts are geared towards assisting the Mexican diaspora in handling financial and bureaucratic challenges more smoothly.
For further information, visit the full article on Mexico News Daily.
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