Yes, you can open a Mexican bank account, but the process and what you can do with it depends on your residency status and which bank you choose.

Non-residents can open accounts at most major Mexican banks, though the requirements and account types differ from what residents get. The main barrier is not citizenship or nationality—it is proof of identity and a Mexican tax ID number, called an RFC (Registro Federal de Contribuyentes). Some banks will issue an RFC for you during the account opening; others require you to obtain one first through the Mexican tax authority, the SAT.

The account types available to non-residents are usually more limited than those for residents. You will typically be offered a basic checking or savings account, sometimes called a "non-resident account" or "foreign account." These accounts can receive transfers, hold pesos or US dollars, and allow withdrawals at ATMs and branches. What you often cannot do is access credit products, investment services, or certain payment features that residents use routinely.

The timeline from first contact to a working account is usually two to four weeks if you have all documents ready, though it can stretch to six weeks if the bank needs to verify your RFC or if documents are missing.

Key Takeaways

  • You will need a valid passport, proof of address (usually from your home country), and a Mexican tax ID number (RFC) to open an account.
  • Some banks issue an RFC during account opening; others require you to get one from the SAT first, which adds one to two weeks to the process.
  • Non-resident accounts are usually basic checking or savings products without access to credit, investments, or certain payment features.
  • You can open an account in person at a Mexican bank branch, or some banks now offer remote opening through video verification if you are outside Mexico.
  • Monthly fees, minimum balances, and transaction limits vary by bank and account type, so compare terms before choosing.

What documents you need to bring or submit

The core documents are your passport, proof of your current address, and your RFC. The address proof is usually a utility bill, rental agreement, or government-issued document from your home country dated within the last three months. Some banks accept a bank statement from another country instead. Do not assume your home country's driver's license counts as proof of address—most Mexican banks do not accept it.

If you do not have an RFC yet, you have two paths. You can obtain one before opening the account by visiting a SAT office in Mexico or explore online through the SAT website if you have a Mexican address. This takes one to two weeks. Alternatively, many banks (Banamex, BBVA, Scotiabank, and others) will help you get an RFC as part of the account opening process, though this adds time and sometimes requires a second visit or video call to complete.

Bring or upload originals and copies of everything. Banks often keep copies on file and return originals to you. If you are opening the account remotely, you will upload scans or photos of documents and may need to do a video call with a bank representative to verify your identity.

Opening an account in person versus remotely

In-person opening at a branch is the most straightforward route if you are in Mexico. You walk in with your documents, speak to an account officer, and the process usually takes 30 to 60 minutes. The bank can often issue or help you get an RFC on the spot or schedule a follow-up appointment to complete it. You leave with a temporary account number and receive your debit card by mail within one to two weeks.

Remote opening is now offered by several major banks including BBVA, Banamex, and Scotiabank. You submit documents online, do a video call to verify your identity, and sign electronically. This works if you are outside Mexico and do not have time to visit a branch. The timeline is similar—two to four weeks total—but you have no in-person fallback if the bank needs clarification on a document.

Some smaller or regional banks do not offer remote opening and require you to appear in person. If you are planning to open an account from abroad, call or email the bank's customer service first to confirm they accept non-residents and what their remote process looks like.

Fees, minimums, and what you can actually use the account for

Monthly maintenance fees for non-resident accounts range from zero to roughly 150 pesos (about 9 to 10 USD), depending on the bank and account tier. Some banks waive the fee if you maintain a minimum balance, typically 5,000 to 10,000 pesos. ATM withdrawals at your bank's network are usually free; withdrawals at other banks' ATMs may cost 20 to 50 pesos per transaction.

Incoming transfers from outside Mexico (international wire transfers) are standard and usually cost the receiving bank nothing, though your sending bank may charge you. Outgoing transfers to the US or other countries are possible but often carry fees of 150 to 300 pesos plus the receiving bank's charges. Domestic transfers between Mexican accounts are usually free or very cheap.

What you cannot do: most non-resident accounts do not include credit card products, overdraft protection, or investment access. You cannot take out a loan or mortgage based on the account alone. Some banks restrict the number of transactions per month or the total amount you can transfer out of the country. Ask the bank about these limits before opening, especially if you plan to move money regularly.

Getting an RFC if you do not have one

An RFC is a 13-character tax ID that Mexico requires for any financial account. If you do not have one, you have two options: get it yourself or let the bank do it.

To get it yourself, visit a SAT office in Mexico with your passport and proof of address. You can also explore online at the SAT website (gob.mx/sat) if you have a Mexican address. The process takes one to two weeks and is free. You will receive your RFC by email or mail.

If the bank offers to get it for you during account opening, they will submit your information to the SAT on your behalf. This is convenient but adds one to two weeks to the account opening timeline, and you may need to return to the bank or do another video call once the RFC is issued. Ask the bank upfront whether they charge a fee for this service—most do not, but it is worth confirming.

Which banks accept non-residents and what to expect

The major banks that openly accept non-resident accounts are BBVA, Banamex (Citibanamex), Scotiabank, HSBC, and Santander. All of these have English-speaking staff at many branches and offer online banking in English. Regional banks like Banorte and Inbursa also accept non-residents but may have fewer English-language resources.

BBVA and Banamex are often the easiest for remote opening if you are outside Mexico. HSBC is a good choice if you already bank with HSBC in another country, because you may be able to link accounts and move money more easily. Scotiabank and Santander are solid middle-ground options with reasonable fees and straightforward processes.

Smaller banks and fintech companies (like Nu México or Allianz) may have lower fees but often do not accept non-residents or have stricter document requirements. Stick with the major banks unless you have a specific reason to use a smaller institution.

What happens after your account opens

Once approved, you will receive a debit card by mail within one to two weeks. Your account is usually active when ready, so you can receive transfers and use online banking before the card arrives. Set up online banking (called "banca en línea" or "banca digital") as soon as the bank gives you access—this is how you will check your balance, transfer money, and pay bills.

Keep your RFC and account number in a safe place. You will need them for any future transactions, tax filings, or if you need to contact the bank about your account. If you move or change your address, notify the bank in writing; some banks require updated address proof every few years for non-resident accounts.

If you plan to use the account for regular business or large transfers, tell the bank upfront. Mexican banks have anti-money-laundering rules and may flag unusual activity. Being transparent about the purpose of your account reduces the chance of unexpected holds or account restrictions.

Frequently Asked Questions

Do I need to be a Mexican resident or citizen to open an account?

No. You can be a citizen of any country and a non-resident of Mexico. The bank needs proof of your identity (passport) and address, plus an RFC. Residency status does not matter, but having an RFC does.

Can I open a Mexican bank account if I do not have a Mexican address?

Yes. You can use your home country address as proof of address. The bank will accept a utility bill, rental agreement, or government document from your current country. You do not need a Mexican address to open the account, though you will need one if you want to get an RFC from the SAT yourself.

How long does it take to get money out of a Mexican bank account to the US?

International wire transfers typically take three to five business days. The receiving bank in the US may take an additional one to two days to post the funds. Fees range from 150 to 300 pesos on the Mexican side, plus whatever your US bank charges to receive the transfer.

What if the bank rejects my account process?

Banks rarely reject non-resident applications outright, but they may ask for additional documents or clarification on your address or source of funds. If rejected, ask the bank why in writing. You can then try another bank or address the issue (such as getting a clearer address document) and reapply.

Can I use a Mexican bank account for business or freelance income?

Yes, but you will need to register as self-employed with the SAT and file tax returns. The bank itself will not prevent you from receiving business payments, but Mexico requires you to report income and pay taxes. Consult a Mexican tax professional if you plan to use the account for regular business income.