Finding Mexican banks in the United States or American banks in Mexico might be challenging. Are you trying to find a bank that you may use on both sides of the border? You can do this at HSBC, Mizuho Americas, Santander Bank, and Bank of America, as well as Citibank (also known as Banamex in Mexico) (through partnerships with Santander Bank).
We have banking details for both short-term and frequent visitors to Mexico. When you’re prepared to choose a bank, go to the section of this article titled Banks with Branches in Both Mexico and the U.S., find a branch close to you, and then begin.
You should be aware that just because a bank is listed below as having branches in both the United States and Mexico, it does not necessarily mean you may open an American bank account and use it in Mexico. You might still need to open a different bank account in Mexico. However, utilising a bank with branches on both sides of the border will facilitate the procedure somewhat.
You will save a good amount of money on fees if you use an ATM in Mexico from a bank where you have an account. Additionally, you will benefit from the greatest exchange rate possible. Expect to spend a few dollars in transaction fees if you use an ATM from another bank.
Using a credit card with no foreign transaction fees is another way to save time and money. Go with a Visa or Mastercard when selecting a credit card for overseas travel because they are widely recognised. Choose a credit card with travel incentives, such as cashback on flights, hotels, rental cars, and restaurants, if you want to make the most of your money.
Also, if at all feasible, choose a credit card with no foreign transaction fees. You’ll also benefit from one of the greatest currency conversion rates when using a credit card to pay. The main disadvantage of using a credit card is that you cannot make cash withdrawals, although for a brief vacation, this may not be an issue.
You might want to open a Mexican bank account if you intend to stay in Mexico for an extended period of time. The process will be significantly simpler if you already have an American account with one of the institutions listed below; simply contact your bank’s customer service to learn how to open an account in Mexico.
It should be noted that you might not be able to open a Mexican account electronically, even with the assistance of a U.S. bank branch; banks frequently ask that you show in person at a Mexican branch to prove your identity.
Just remember to bring your passport, proof of residency, an FM2, FM3, or FMM visa, and a credencial if you’re in Mexico on business if you want to settle down before opening a bank account.
Banks With Branches In Both Mexico And The U.S.
- Bank of America (affiliated with Santander Bank)
- Citibank (known as Banamex in Mexico)
- Mizuho Americas
- Santander Bank
You’re better off paying for your expenses as a one-time traveller with an ATM or credit card that doesn’t charge you for overseas transactions. It will be easier to create a bank account if you choose a bank that operates on both sides of the border if you’re planning a lengthy trip to Mexico.