False. Although it is true that migrants wear wristbands, it is not true that the purpose of these wristbands is to show how much they owe.
According to Reuters, "Criminal groups operating in northern Mexico, however, have long used systems to log which migrants have already paid for the right to be in gang-controlled territory, as well as for the right to cross the border into the United States, migration experts said."
Reuters also interviewed a migrant who says that "he paid $500 to one of the criminal groups in the city after he arrived a few months ago from Honduras to secure the purple bracelet to protect against kidnapping or extortion. He said once migrants or their smugglers have paid for the right to cross the river, which is also controlled by criminal groups, they receive another bracelet."
This shows that the migrants have these bracelets as a way to show that they paid their dues to cross, that they can be safe.
Read more here: https://www.reuters.com/article/us-usa-immigration-border/color-coded-passage-why-smugglers-are-tagging-u-s-bound-migrants-with-wristbands-idUSKBN2B12E6
According to spectrum local news,U.S. Border Patrol agents were the first ones to notice wristbands on the migrants they detained in order to process. Now they know what they are used for.
“What this indicates is that these migrants have paid a certain organization a fee,” said Lt. Christopher Alvarez, a spokesman for the Texas Department of Public safety." Spectrum also agrees that this is a way to show that they paid their fees to get smuggled. https://spectrumlocalnews.com/tx/south-texas-el-paso/news/2021/05/14/texas-dps-says-human-smugglers-using-color-coded-wristband-system-at-the-u-s--mexico-border-