One of the most common questions travelers have is about how to access cash in Mexico. With ATMs and recognizable banks spread throughout the country, you don’t have to worry about finding a place to get cash.
You can discover more in our country guide to Mexico. Not only do we cover food and drinks but you'll also be able to navigate this country with ease.
Mexico is known for its thriving banking sector with a range of local and international players looking to capture a share of the market. Below are the larger bank brands in Mexico that are well established and have branches in the country.
HSBC Mexico: Founded in 1941, HSBC Mexico is one of the largest banks in the country, with billions of dollars in assets. It belongs to the multinational banking group HSBC, which operates in over 60 countries worldwide.
Banorte: Banorte is a Mexican-owned bank and the second-largest in the country. It was founded in 1899 and has expanded its services over the years, including mortgages, insurance, pensions, and investment funds.
Citibanamex: Citibanamex, formerly known as Banco Nacional de Mexico, is the second-largest bank in Mexico and is part of the global Citigroup group. It provides a range of services, including personal and business banking, investment banking, and insurance.
BBVA Bancomer: BBVA Bancomer is part of the Spanish banking group BBVA and is one of the largest banks in Mexico. It offers various services such as personal and business banking, mortgages, loans, investments, and insurance.
Scotiabank: Scotiabank Mexico is part of the Canadian banking group Scotiabank and is one of the largest banks in Mexico. It provides a range of services including personal and commercial banking, mortgages, investment banking, and insurance. The bank has a strong presence in the country with its network of branches, ATMs, and online banking services. Scotiabank is committed to providing exceptional customer service and competitive products to its customers. .
Santander Mexico: Santander Mexico is part of the Spanish banking group Santander and is the fifth-largest bank in Mexico. It provides personal and commercial banking, insurance, investment, and asset management services.
Here are some of the top local bank brands in Mexico:
Inbursa: With a focus on innovation, Inbursa is one of the leading banks in Mexico, offering a range of financial services, including personal and commercial banking, insurance, and investment products.
Banco Azteca: A subsidiary of Grupo Salinas, Banco Azteca is a well-established bank in Mexico that focuses on serving low-income customers. The bank is known for its innovative products and services that meet the financial needs of its target market
Banregio: A regional bank that primarily operates in the northern states of Mexico, Banregio is known for its personalized approach to banking and its focus on customer service.
BanCoppel: With a network of over 1,200 branches across Mexico, BanCoppel is a popular bank brand that offers a range of financial services, including savings accounts, loans, credit cards, and insurance.
These local bank brands in Mexico continue to innovate and improve the banking experience for their customers. Whether you're looking for traditional banking services or innovative financial products, these banks are well-established and trusted choices in the Mexican market.
If you are on the look for ATMs in Mexico, you should have luck in Google/Apple maps just by typing in bank or ATM.
If you're traveling to Mexico, finding an ATM is essential, but it's important to be careful and avoid scams. One way to do this is by using national or local banks instead of standalone ATMs. These are generally more secure and less likely to have skimming devices attached.
When searching for an ATM, look for one located inside a bank branch or shopping mall where there's plenty of foot traffic. You will also find them in larger supermarkets such as Fresko or Soriana, as well as Wal-mart or Costco. Avoid standalone machines on the street or in isolated areas, as these are often targeted by scammers who attach skimming devices that can steal your card information.
Another tip is to cover your hand while entering your PIN number, as some scammers use hidden cameras to record people's keystrokes. By following these simple steps and being aware of potential scams, you can safely withdraw cash from ATMs during your trip to Mexico.
It’s important to know the phrase “cajero automático” (ca-hero) which translates to “automatic teller machine”.
"Donde esta un cajero automático?" - (don-day es-ta un ca-hero auto-ma-ti-co) Where is an ATM?
You can use this phrase when asking someone.
When in doubt, look for a bank in the area. If you’re in a tourist area, chances are there will be at least one ATM nearby. Don’t hesitate to ask locals or business owners if they know where one is located. Many hotels also have ATMs on site for their guests’ convenience.
Mexican laws restrict the amount of money that can be taken into the country without declaring it. This means you can bring up to $10,000 USD in cash into Mexico without needing to declare it. If you plan to bring more than this amount, it must be declared and all relevant paperwork must be filled out upon arrival.
You can expect to be asked to present your passport and other documents in order to declare any amount over and above the $10,000 USD threshold. It's important to keep in mind that failure to declare any amount over this limit may result in the seizure of your money and could even lead to further penalties. So make sure you declare any additional money when entering Mexico in order to avoid any unnecessary hassles.
No there are no Bank of America bank branches in Mexico. However, you can use Scotiabank to avoid the ATM usage fee for withdrawals. 1
No, as of 2021 Chase Bank (or JP Morgan) no longer operates any branches in Mexico. They referred the business to BBVA. 2
Yes, Citi Bank is well established in Mexico and you can find them throughout the country. You will also find other international banks that have branches in the US an Mexico such as: Santander, HSBC
Yes, Scotiabank has a strong presence in the banking industry in Mexico.
Yes they are. In Mexico, the Instituto para la Protección al Ahorro Bancario (IPAB) is the deposit insurance set up for account holders in Mexico. This is similar to the FDIC in the USA. It insures up to UDI 400,000 (investment units). This is equal to $3,106,536.80 pesos for each account (2023). You can find the convertor here.
You may also be interested in knowing how much spending money you should budget on your trip to Mexico.
So now that you have your money, you know a perfect place to visit? The local tianguis (flea markets) that line the Mexican streets on Sundays. I highly suggest making a trip out and seeing what you can find!
I won't come home till after I shaken hands with native lands and kissed the old friends back there - Swim, Ambulance Ltd
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