Mexico · Business Banking
Opening business and personal bank accounts, remote options, required documents, and fees.
AI-drafted, editorially reviewed. Confirm specifics with the official authority.
Mexican banking is modern with strong digital payments (SPEI, CoDi). Foreigners usually open an account with a passport, a temporary or permanent resident card and proof of address; a 2026 rule allows a basic, limited account with just a CURP and official ID. The CNBV and Banxico regulate banks.
Banks in Mexico are regulated by the CNBV together with Banco de México (Banxico); eligible deposits are protected by the IPAB. Foreigners usually open accounts with a passport, residency and proof of address.
- Banks are regulated by the CNBV and Banco de México (Banxico); eligible deposits are protected by the IPAB.
- Most banks require temporary or permanent residency plus proof of address; an RFC (tax ID) is commonly requested.
- SPEI powers interbank transfers and CoDi enables QR payments.
- A Mexican company normally needs RFC, formation documents, proof of address and legal-representative identification/powers to open an account.
- Foreign ownership or cross-border transfers can trigger additional bank compliance checks and foreign-investment records.
- Confirm fees, online-banking access, payment rails and account-signatory rules directly with the provider before relying on an account.
- 1
Confirm your residency status
Most banks require a temporary or permanent resident card; a 2026 rule lets banks open a basic, limited account (monthly deposits capped) with just a CURP and a valid official ID.
- 2
Get your RFC (and CURP)
Banks commonly request an RFC (tax ID with homoclave) for tax compliance; your CURP is your population-registry number, accepted for basic accounts.
- 3
Choose a bank
A major bank (BBVA, Banorte, Santander, Citibanamex) or a digital bank; you generally open the account in person at a branch.
- 4
Gather your documents
Passport, resident card, proof of address (a utility bill — CFE, water or landline — under three months) and a Mexican phone number.
- 5
Complete identity and KYC checks
Banks run identity and anti-money-laundering checks before opening the account.
- 6
Activate the account and set up payments
Receive your card and app, then set up SPEI transfers, CoDi QR payments and direct debits (domiciliación).
- Passport
- Temporary or permanent resident card
- RFC (tax ID) — commonly requested; CURP for a basic account
- Proof of address (utility bill under 3 months)
- Mexican phone number
- Initial deposit (if required by the bank)
- CNBV
Banking and securities regulator.
- Banco de México (Banxico)
Central bank.
- IPAB
Deposit protection.
Frequently asked questions
Can a foreigner open a Mexican bank account?
Usually with a temporary or permanent resident card, passport and proof of address; a 2026 rule also allows a basic, limited account with a CURP and official ID.
Do I need an RFC?
Most banks now request an RFC (with homoclave) for tax compliance; some basic accounts accept a CURP instead.
What is SPEI?
Mexico's interbank electronic transfer system for fast payments; CoDi adds QR-based payments.
Government portals
- gob.mx — Government of Mexico — Single portal for federal agencies, procedures and official publications.
- SAT — Tax Administration Service — RFC tax registration, income tax and VAT filing, and CFDI electronic invoicing.
- National Migration Institute (INM) — Temporary and permanent residence cards, entry records and immigration procedures.
- Ministry of Economy — Company incorporation, foreign-investment registry and trade rules.