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Information on opening a bank account in Mexico - what documents to provide - the credit and debit cards, payment methods, checks and more...
The Mexican banking system offers a substantial range of services for both private individuals and companies, although many of these services are only available to permanent residents.
In addition to the extensive branch network of major retail banks, most of which have self-service ATM halls, there are many services available at banks and via Internet banking.
Mexican banks offer current accounts, savings and investment accounts, credit and debit card services, personal loans and overdrafts. Local banks also set up standing orders, accept payment of utility bills and local, state and federal taxes.
The central bank of Mexico is the Banco de México, an autonomous body responsible for the country's banking system.
Mexico's currency is the peso, which uses the same symbol as the American dollar, $. Each peso is divided into 100 centavos. It is a free-floating currency; therefore exchange rates vary. Currency can be exchanged at a casa de cambio.
Retail Banks in Mexico
There are many foreign-owned banks in Mexico (most websites below are in Spanish):
Information on the different packages available to customers can be found on each bank's website.
- Complete list of banks associated with the Mexican Bank Association (Asociación de Bancos de México) (website in Spanish)
- For a list of banks providing assistance in English in Mexico City visit the Business Directory