From January, 1,  2022, Mexican banks will open accounts only if you have a temporary or permanent residence in Mexico.

1. First of all, find the bank and account type that suits you.

Compare the different banks and accounts that serve your local community. Here are a few things to look for when researching a bank account:

• Minimum deposit requirements;
• Withdrawal limits including the number of free withdrawals, if applicable;
• Bank charges;
• Number of ATMs you can use for free, and the availability of ATMs in convenient locations to you;
• Ease of operating the account online and through mobile banking;
• Check the reviews of the banks you are considering.

2. Ask the bank in advance what documents are required.

Generally, you will need the following:

• Passport / Residency card;
• Proof of address in Mexico such as a utility bill less than three months old;
• A Mexican tax ID (RFC);
• An email and a mobile phone number.

3. Visit the bank with application documents.