TransferMex
- Company typePrivate
- Founded-
- HeadquartersChicoloapan De Juárez, Mexico
- Headcount11–50
- GTM typeB2C
- OfferingServices
TransferMex firmographics
Firmographics- Name
- TransferMex
- Legal name
- TransferMex Inc.
- Website
- https://transfermex.com
- Company type
- Private
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Ownership category
- akta.pro rank
TransferMex industry classification
Industry- Product category
- Cross-Border Remittance Services
- akta.pro primary industry
- Card-Based Cross-Border Payments & FX Settlement (FSAMAIAD)
- akta.pro secondary industry
- Cross-Border Card-Based Transfers & Multi-Currency Cards (FSAGAKAE)
Keywords
Where TransferMex is headquartered
LocationHeadquarters
- HQ city
- Chicoloapan De Juárez
- HQ country
- Mexico
- HQ region
- Latin America
Markets served
TransferMex business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Technology or R&D, Operations, Personnel, Marketing or Sales
Revenue model
- Money Transfer Fees: TransferMex charges fees for money transfers to Mexico - $1 for bank transfers and $3 for cash pickup. This is the primary revenue stream.
- ATM Withdrawal Fees: Fees charged for ATM withdrawals - $1 for domestic U.S. withdrawals and $2.50 for international withdrawals, plus $1 for ATM declines and balance inquiries.
- Card Inactivity Fees: $2.00 monthly fee assessed after 365 days of inactivity, then every 30 days thereafter. Does not apply if card is validated.
- Monthly Maintenance Fees: Monthly fee of $0 with a 30-day grace period after card validation, then assessed every 30 days if card has a balance.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Pay-as-you-go | TransferMex Card with All-Inclusive Fee Structure |
Go-to-market motion2 records
Distribution channels3 records
Marketing channels5 records
TransferMex product offering
Product offeringCore offering
TransferMex provides a prepaid Mastercard debit card (issued by Patriot Bank N.A.) and a companion iOS/Android mobile app that lets seasonal and agricultural workers receive paychecks via direct deposit, make purchases and ATM withdrawals, and send money to Mexico at $1 per bank transfer or $3 per cash pickup. The product bundles payroll receipt, everyday spending, and low-cost cross-border remittance into a single financial account.
Product overview
TransferMex is a financial services platform built around a single unified product: the TransferMex Prepaid Mastercard. The core offering is the TransferMex Card, which combines paycheck direct deposit, in-store/online payment capabilities, and international money transfer to Mexico. The platform consists of the TransferMex Card (the primary financial instrument), the TransferMex Mobile App (iOS/Android) for card management and transfers, and an employer-facing Payroll/Direct Deposit Service that enables businesses to pay seasonal workers directly to their TransferMex Cards. The ecosystem is rounded out by a Help Center providing FAQ documentation and a Cardholder Agreement.
Differentiator
Problem solved
Functional benefit
Products and services
- TransferMex Card
Quantifiable outcome
- Transfer fees as low as $1 for bank transfers and $3 for cash pickup to Mexico
Companies that use TransferMex
Customer profileSegments2 records
Ideal customer profiles2 records
TransferMex technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature2 records
TransferMex partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered core.
- Patriot Bank N.A.corePatriot Bank N.A. is the issuing bank for the TransferMex Mastercard debit card. The bank is a member of FDIC and provides the banking infrastructure enabling direct deposit, ATM access, and card transaction processing.
- MastercardcoreMastercard provides the payment network for the TransferMex debit card. The card is accepted everywhere Mastercard debit cards are accepted globally.
- TernitupcoreTernitup powers the TransferMex app platform. The app URL and login system (app.transfermex.com) is powered by Ternitup technology.
Scale indicators1 record
Recent moves4 records
Expansion highlights3 records
TransferMex competitors and assessment
Company assessmentEmerging players
- Current: Current is a US fintech offering a mobile-first debit card and banking platform with direct deposit features and tools for unbanked/underbanked users. Overlaps with TransferMex on prepaid debit card, direct deposit payroll, and mobile-first banking for underserved populations.
- Dave: Dave is a US fintech providing banking services, prepaid debit, and earned-wage access to underbanked consumers. Comparable to TransferMex as a mobile-first prepaid card / paycheck-linked product targeting financially underserved users.
Broad incumbents
- MoneyGram: MoneyGram is a major cross-border money movement incumbent with strong US-Latin America flows including US-Mexico. Comparable as a remittance provider with cash pickup and bank deposit rails, though much larger and broader in geography.
- Wise (TransferWise): Wise is a leading cross-border payments platform serving many corridors including US-Mexico with mid-market FX rates. While more focused on bank-to-bank flows than cash pickup, it competes with TransferMex on remittance pricing and mobile UX.
- Western Union: Western Union is the dominant incumbent in US-Mexico remittance with the largest agent cash-pickup network in Mexico. Overlaps with TransferMex on remittance but operates across many corridors and channels globally.
- Xoom (a PayPal service): Xoom is PayPal's international money transfer brand serving the US-Mexico corridor with bank deposit, cash pickup, and mobile reload options. Directly competes with TransferMex on US-Latin America remittance, backed by PayPal's distribution and trust.
Direct peers
- WorldRemit: WorldRemit is a global digital remittance platform covering the US-Mexico corridor with mobile app-driven bank deposit, cash pickup, and mobile wallet delivery. Directly comparable as a cross-border money transfer platform serving similar immigrant populations.
- Intermex Wire Transfer: Intermex is a US-Latin America remittance specialist with a leading share of the US-Mexico corridor and deep agent cash-pickup distribution in Mexico. It overlaps directly with TransferMex in remittance rails and target demographic.
- Pangea Money Transfer: Pangea is a mobile-first remittance specialist focused on the US-to-Latin America corridors (with strong Mexico share), explicitly serving immigrant worker and unbanked demographics. Like TransferMex, Pangea uses a mobile app with cash pickup and bank transfer delivery.
- Remitly: Remitly is a leading US-based digital remittance platform with the US-Mexico corridor as its flagship lane, offering bank transfer and cash pickup options to Mexican recipients — directly comparable to TransferMex's core offering. Both target underserved Latin American diaspora with mobile-first low-fee transfers.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights6 records
Customer concentration
TransferMex social profiles
Digital presenceTransferMex compliance and trust
Trust signalCompliance2 records
TransferMex financial estimates
Financial estimateRevenue estimate
Valuation estimate
TransferMex leadership team
Management profileNumber of profiles
TransferMex funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
TransferMex M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about TransferMex
What does TransferMex do?
TransferMex provides a prepaid Mastercard debit card (issued by Patriot Bank N.A.) and a companion iOS/Android mobile app that lets seasonal and agricultural workers receive paychecks via direct deposit, make purchases and ATM withdrawals, and send money to Mexico at $1 per bank transfer or $3 per cash pickup. The product bundles payroll receipt, everyday spending, and low-cost cross-border remittance into a single financial account.
Is TransferMex a public or private company?
TransferMex is a private company. It is classified as unknown and is currently operating.
When was TransferMex founded?
TransferMex was founded in -1. It employs 11 to 50 people.
Where is TransferMex based?
TransferMex is headquartered in Chicoloapan De Juárez, Mexico, in the Latin America region.
How does TransferMex make money?
Four revenue lines are on record. Money Transfer Fees are the primary driver. The others are ATM Withdrawal Fees, card Inactivity Fees and monthly Maintenance Fees.
Who are TransferMex's main competitors?
Emerging players on record are Current and Dave. Broad incumbents are MoneyGram, Wise (TransferWise), Western Union and Xoom (a PayPal service). Direct peers are WorldRemit, Intermex Wire Transfer, Pangea Money Transfer and Remitly.
Does TransferMex have an API?
No public API is recorded for TransferMex.
What industry is TransferMex in?
TransferMex's product category is Cross-Border Remittance Services. Its primary akta.pro industry code is FSAMAIAD, Card-Based Cross-Border Payments & FX Settlement, with a secondary code of FSAGAKAE, Cross-Border Card-Based Transfers & Multi-Currency Cards.