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Banking in Mexico

Best banks in Mexico for expats & digital nomads

Opening a bank account is one of the first things you do after moving to Mexico. Here are the accounts that work for newcomers and non-residents, plus the fintech we would set up before you fly.

How to open a bank account in Mexico

A full Mexican account generally requires a resident card (temporal or permanente), CURP, passport, and a recent proof of address (utility bill under about three months old); an RFC tax ID is often needed for interest-bearing accounts or to lift deposit caps. Digital banks like Nu México and Hey Banco open remotely with just a passport and CURP, while most big banks require an in-branch visit and usually won't open full accounts for tourist-visa holders.

Our top pick

Wise multi-currency account

Wise is the option we recommend for almost anyone moving to Mexico: hold and convert 40+ currencies, get local account details to be paid like a local, and send money at the real exchange rate with low, transparent fees. It works before you even arrive, so you can receive income and pay deposits while your local account is still being set up.

Open a free Wise account →

Affiliate link: we may earn a commission at no cost to you. Wise is a fintech, not a bank; balances are safeguarded, not covered by deposit insurance.

Top banks in Mexico

BBVA México

traditional
Largest branch and ATM network

Mexico's biggest bank; publishes a dedicated page for foreign applicants and eligible clients can start in the app. Requires passport, immigration document, CURP and proof of address.

Banorte

traditional
Largest Mexican-owned bank

Generally straightforward with foreign residents; some account tiers waive monthly fees if you keep a minimum balance.

Santander México

traditional
Broad national network

Opens accounts for residents routinely; typically an in-branch process with resident card, CURP, passport and proof of address.

Banamex (Citibanamex)

traditional
Historic large retail network

One of Mexico's oldest big banks, being separated from Citi; extensive branches and ATMs.

HSBC México

traditional
International transfers and global banking

Good cross-border integration for expats, but generally does not open accounts for tourist-visa holders and often asks for a residency card or RFC.

Nu México (Nubank)

digital
Fast app-only everyday account

Mexican arm of Nubank; free account with no monthly fee, opens entirely in-app with passport and CURP. No physical branches.

Hey Banco

digital
Online savings with higher rates

Digital bank (originally from BanRegio) offering above-average savings rates; account opens online with CURP, debit card mailed within about two weeks.

International accounts & neobanks

Nubank

Serves Mexico through its licensed local subsidiary Nu México (see local banks); app-based, passport + CURP to open.

Revolut

Launched full banking operations in Mexico in January 2026 with a local banking licence; deposits insured by IPAB. App-based multi-currency account and card.

Payoneer

Used by freelancers and sellers in Mexico to receive international (USD) payments; remote onboarding.

Availability changes; confirm on each provider's site.

Next steps in Mexico

See the full Mexico tax, cost and visa profile, or compare Mexico with other destinations. Not sure where to go yet? Take the finder quiz.