President Claudia Sheinbaum on Friday promoted a government bank card that can help Mexicans living in the United States avoid the new remittance tax.
Sheinbaum recommended the new services available with the Finabien bank card, originally created in 2024 by the federal government’s Financial Institution for Well-being (Finabien), brandishing a card for the cameras during her morning press conference.
“It’s a very simple way to send remittances electronically and avoid making cash transfers,” Sheinbaum said.
The newest service offers direct deposit operations, allowing cardholders’ wages to be sent directly to the card by employers or transferred using authorized institutions. Additionally, remittances can be made more economically and will allow cardholders to circumvent the U.S. remittance tax, the president said.
The new tax — which goes into effect on Jan. 1, 2026 — is a federal excise tax applied directly to outbound money transfers. Essentially, it is a fee charged across the board to each person who sends funds out of the U.S.
The Finabien card can be acquired at 53 consulates in the U.S., by mail or via digital application at miconsulado.sre.gob.mx. And accounts can be accessed at 1,700 sites in Mexico.
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