How to Safely Send Money to Elektra in Mexico in 5 Easy Steps

Last updated on October 30th, 2023 at 09:52 pm

If you support loved ones and send money to Mexico for gifts, daily living, tuition, and more, you’re not alone. And like your fellow Mexicanos, you want to find the safest way to send money to Elektra to make sure more funds make it home.

According to the Mexican government’s Institute for Mexicans Living Abroad, over 11 million Mexicans live in other countries, with the vast majority based in the U.S. Remittances they send contribute nearly 3% of the country’s national income. But because of exorbitant wire fees and unfair exchange rates, sending money to loved ones in Mexico can be costly.

Person opening Remitly using a phone

At Remitly, a trusted transfer company, we provide a simple app for sending money internationally.

When sending money to Mexico, Remitly have many providers you can choose from, including Elektra and Banco Azteca. In fact, Remitly has over 25,000 pickup locations throughout Mexico.

Sending Money to Elektra in 5 Easy Steps

Sending money to your loved ones with Remitly is simple. The first step, if you haven’t done so already, is to download the app and create an account.

  1. Select Mexico as your destination country and decide the amount of U.S. dollars (USD) or Mexican pesos (MXN) you wish to send.
  2. Select deposit to a Banco Azteca account or cash pickup as your delivery option and select Elektra.
  3. Enter your recipient’s name and information and enter the bank account information such as their account number. Review your transfer summary details for accuracy and push send.
  4. Add your payment method such as a bank account, credit card, or debit card.
  5. Enter the recipient’s details such as their full name, phone number, and other bank details for bank deposits.

Why Should I Use Remitly to Send Money to Elektra?

Money transfers should be easy. With low transfer fees and competitive exchange rates, Remitly is an affordable choice. Using our app or website, you can easily send money to loved ones while also taking advantage of our excellent exchange rates, so you can get more pesos for every dollar.

You can read more about this on our page about our dollar to peso rates and fees when sending money to Mexico.

We make sure to send your money on time. Plus, with fewer fees and low transfer fees, you’ll no longer have to deal with any hassles while sending money home.

How Quickly Will my Money Arrive at Elektra?

Using Remitly, it’s efficient and quick to send money to Elektra. Senders that pay with a debit card or credit card can transfer money within minutes.

For those that aren’t in a rush, transfers via bank account take three to five days.

How Much Money Can I Send to Elektra with Remitly?

Remitly is committed to helping users send remittances both big and small to Elektra and Banco Azteca while prioritizing safety and following regulations. That keeps you, your money, and your recipient secure.

To that end, we have sending limits based on the information provided by a customer.

Customers that provide the minimum information necessary can send as much as:

  • $2,999 within 24 hours
  • $10,000 within 30 days
  • $18,000 within 180 days

Is It Safe to Send Money to Elektra with Remitly?

There’s a reason that millions worldwide trust Remitly’s money transfer services.

Remitly uses top-notch security to ensure safe transactions and to protect your data.

You can also turn on SMS/text notifications to keep an eye on your transfer. If anything goes wrong while sending funds, you’ll get your money back.

Best ways to send money to Mexico

Why We Love Elektra and Banco Azteca

Elektra is mainly a furniture and appliance retailer. They also sell cell phones, motorcycles, and even your kid’s back-to-school backpack.

When they started their own bank, Banco Azteca, it made life easier for their customers, who could shop and bank in the same location.

Banco Azteca is now one of the most well-known banks in Mexico, along with longstanding banks like Bancoppel, Bancomer, and BBVA.

Elektra is everywhere, too. It has over 1,800 locations in Mexico so your family and friends can pick up cash at the most convenient location for them. These locations are open 9 AM to 9 PM every day of the year, including Saturdays and Sundays.

In addition to convenience, Elektra offers theft insurance.

Elektra’s Theft Insurance

Your recipient is insured for 6 hours after picking up their money transfer from Elektra and Banco Azteca. If they are robbed, they need to file a police report within 6 hours and go to an Elektra store to make an insurance claim. Then, Elektra will pay them up to a maximum of 8,500 MXN. Visit Elektra’s Terms & Conditions for more details.

Safety and security are our top priorities, so we are proud to make it easier for you to send money to banks that offer extra protection throughout the delivery process.

Send Money to Elektra

Where Else Can I Send Money in Mexico?

If you’re looking for a different payout location around the country, visit our network in Mexico page to see the 25,000 locations you can choose.