- 50% increase in the maximum balance capacity of all Finabien accounts in the United States; up to US$15,000 is allowed.
- The limit for sending interbank transfers from the United States to Mexico increases from US$2,500 to US$5,000 per day.
- More than 250 thousand users have accessed a Finabien card in Mexico and the U.S.
A little more than nine months after the launch of Financiera para el Bienestar cards in Mexico and the United States, the maximum balance capacity of Financiera para el Bienestar accounts in the United States has increased by 50 percent. Until a few days ago it was nine thousand 999 dollars; as of February it can now have up to 15 thousand dollars, which represents a possibility for thousands of Mexicans in the United States to request their employers to deposit their payroll in the Finabien United States card.
Likewise, the amount of deposits via interbank transfers increases from two thousand 500 dollars to five thousand dollars per day. It should be noted that the maximum monthly accumulated amount that the account accepts in deposits is also 15 thousand dollars.
The CEO of Financiera para el Bienestar, Rocio Mejia Flores, mentioned that "the increase of these balances in the Finabien account in the United States opens the door to a larger market of workers who can now receive their salary in Financiera para el Bienestar, and send remittances quickly, economically and safely. This new maximum balance is proof of the project's success, and of how Finabien promotes financial inclusion inside and outside Mexico, but, above all, of the trust that Mexican citizens are placing in a Mexican government institution.
He also pointed out that, from May 2023 to date, more than 251 thousand users have had access to a Finabien card in both countries and, according to his experience, in addition to using the card to send remittances, they already use it in stores and establishments as a daily payment method, which provides security and confidence, since they do not have to carry cash. This materializes the objective of including those who, for many years, were financially excluded.
In May 2023 Financiera para el Bienestar launched a financial services platform that includes an account in pesos issued in Mexico, essentially designed for people who receive remittances, and which includes a virtual vault that offers a 10 percent average annual return, as well as an account in dollars issued in the United States (which can be enrolled without the need for a social security number), which allows remittances to be sent to the card in Mexico in a matter of seconds from the application on the cell phone.
The Finabien Mexico and Finabien United States cards are backed by Mastercard, which allows them to be accepted internationally. In Mexico, they can be applied for free of charge at 1,700 branches, or online at gob.mx/finabien
In the United States it can be requested at any Mexican consulate, or through the website gob.mx/finabien. The card is free, and if you order it by mail, shipping costs only five dollars.
Financiera para el Bienestar, formerly Telecomm, is a public organization dedicated to providing various financial services, promoting savings, providing micro-business loans and promoting the sending and receiving of remittances for all Mexicans.
Electronic portal: gob.mx/finabien
Facebook: Financiera para el BienestarMX
Twitter: @FINABIENMex
YouTube: @FINABIEN
Instagram: FINABIENmex