Moving to Mexico from the United States is often a big change. No matter how many times you have been there on vacation, living there will likely be a different experience. One of the main changes will be dealing with money. You may have had to transfer money to Mexico from your U.S. account before or during your vacation, but now you might have to do it again with a larger sum of money. Find out your options before you do so. 

It is advised that you open an account once you get to Mexico. First, as you probably already know, the currency is the peso, and $1 USD equals 12.9340 pesos. You can bring as many pesos as you want into and out of the country. If you bring in American dollars, you can exchange them at several locations in large cities like Mexico City, Guadalajara, Tijuana, Monterrey, and Puebla , especially at banks and hotels. Also, exchange houses, often referred to as casas de cambio, specialize in changing money. You might have to pay a fee for exchanging your money at hotels, but banks and casas de cambio are usually free or very cheap. U.S. dollars are accepted at many locations in Mexico, so depending on where you move, you could keep using those instead of having to transfer money to Mexico before you arrive. It is a good idea to have some pesos, as well, especially in smaller towns.

Before you transfer money to Mexico, you should open an account. That way you can send money from your U.S. account easily. If you already know where you will live, and want to take a trip to Mexico before the move, you can open an account then. You will need ID, such as your driver's license or passport, and proof of address. You may get an account that lets you use U.S. dollars, or you can have a regular account that deals with pesos. Just beware that most banks charge a fee if you go below a certain amount in your checking account, and there are not unlimited ATM withdrawals like at most U.S. banks. Some banks there might be familiar to you, like HSBC, Citibank, and American Express Bank. Others are unique to Mexico, like Banco Inbursa, Banorte, Bancomer, Banco Regional de Monterrey, and Banco Afirme.

If the city you move to has many ATMs, you can keep your American account open and use your debit card to withdraw funds. However, you will be charged fees, which can add up. If you prefer to transfer money to Mexico in large lump sums, a prepaid debit card may be what you need. This is best if you do not yet know where you will live and will not be visiting before you move, so you cannot open a bank account yet. Carrying cash on you, either in pesos or U.S. dollars, is not advised due to the high number of robberies in some major cities like Mexico City. You can instead send a prepaid debit card to your current U.S. address, load it with funds from your checking account for $5, and then use it at ATMs in Mexico. The withdrawal fee is minimal, and you can also use the card at retailers that accept debit cards. 

If you have the opportunity to open a bank account before arriving, it might be the most convenient option. If you do not, you can just bring cash with you when you move. However, a safer option is to carry a prepaid debit card to avoid getting your cash stolen, or simply losing it. No matter what, when it comes time to transfer money to Mexico before you move, choose the option that best fits you.