Banorte is the second largest bank in Mexico as well as being the largest Mexican owned bank.These credentials make it our top pick for expats moving to Mexico. It was also named the best digital bank in Mexico in 2019 by the World Finance online magazine. It serves more than 11 million clients and has the largest amount of total assets, loans, deposits, number of branches and ATMs. BBVA Bancomer is the largest Bank in Mexico.Wondering which are the best banks in Mexico? With so many banks out there to choose from, we sampled a small list of Mexican banks most preferred by expats. Please note that it is not unusual to be asked for character references from someone outside of your family. Many banks often ask for an opening deposit of around 800 MXN (40 USD). residency card or your FMM visa).Īll banks generally have their own individually set requirements, so it is always best to check with their customer service or websites before you head out to open your account. proof of legal entry into Mexico (e.g.letter with proof of residence, such as a utility bill (dated within the last 3 months).form of photo identification, generally your passport.When opening a bank account as a non-resident, you will have to provide documents to prove your identity and show that you have funds to cover the fees.įor a basic account, the British owned bank HSBC in Mexico will ask you to provide: What are the requirements and documents to open a bank account as a non-resident? Required Documents for Opening a Bank Account as a Non-resident In a lot of Mexican banks, you will need to take a ticket and wait your turn as many don’t allow you to make appointments. You may want to consider taking a translator with you, in case they do not have English speaking staff. While some banks such as BBVA have recently begun offering online services, including opening a bank account, it might be easier to visit a branch in-person with your documents. The best place to start is to shop around online and see what banks have the best accounts for your needs. While a foreinger can open a bank account in Mexico, it could be a challenging experience, especially if you do not speak Spanish. it adheres to international regulations Ĭan a Foreigner Open a Bank Account in Mexico?.it will not be difficult to access, move, or manage your finances between accounts back home and in your new country.Mexican banks can have quite high fees in comparison to your home bank, so you should make enquiries to find your best option.īefore you choose a bank, you should verify that: You will also have a clear idea of the documents and transfer fees involved. Doing some research before moving can help you prepare for unexpected complications.
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If you are planning to relocate, you should know how to open a bank account in Mexico as a non-resident.