MoneyGram customers can now transfer money to Mexico in 30 minutes, which is nearly half the time it takes to send transfers to other Latin American countries.

Recent growth in transactions to Mexico contributed to the new development, MoneyGram says in a May 19 press release.

"MoneyGram has an excellent track record in Mexico," says Juan Agualimpia, an executive in the company's Latin American and Caribbean division, in the release. "We are now focused on expanding self-service options for our customers who prefer to receive funds directly into their bank accounts."

MoneyGram customers can send transfers to all banks in Mexico, as well as several top banks in Honduras, El Salvador and Guatemala, the company says.

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