If you’re looking to open a Mexican bank account 100% online, you’ve come to the right place.
While we’ve discussed how to open a bank account in Mexico in the past, we haven’t broken down the options for opening online.
So, in this article, we’re taking a closer look at the online account opening options available and the challenges you’ll face when trying to open a bank account in Mexico.
Feel free to use the table of contents to jump ahead to the sections most relevant to you.
Table of Contents
- Mexico Bank Account Opening 101
- Who Can Open a Mexican Bank Account Online?
- How Do I Open a Mexican Account Remotely?
- Frequently Asked Mexico Banking Questions
- Do You Want Help Opening Bank Accounts?
Mexico Bank Account Opening 101
First, it’s important to note that Mexico is a surprisingly difficult place to open non-resident bank accounts.
In fact, almost all Mexican banks require foreign non-residents to have Mexican residency in order to open accounts.
Of course, certain Mexican banks also accept individuals who have started the process of obtaining Mexican residency as well.
Our team is able to help our members open Mexican bank accounts as non-residents if they can visit a branch in person.
Unfortunately, this is a common issue that non-residents face, whether they’re trying to open bank accounts in parts of Europe, or other Latin American countries such as opening an Argentina bank account online. If you are interested in banking in a Latin American country and want to know how to open a Brazilian bank account, click the link here to learn more.
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Who Can Open a Mexican Bank Account Online?
In most cases, non-residents do need to have residency in order to open a bank account in Mexico. However, when it comes to digital or online banking institutions there are actually more options to choose from.
That’s because not all digital or online banks require you to have Mexican residency. That said, there is a caveat…
While you can technically open a bank account online with a Mexican bank, if you are a non-resident it will not function like a traditional bank account. Instead, the bank account will likely be restricted to payment card activities, operating like a debit or credit card.
In other words, you can open and fund a bank account but you will not be able to transfer money or manage funds like you would with a traditional bank account.
So, if you are looking for more traditional banking activities you should instead consider the non-resident banking option that we discuss in the article linked above.
On the other hand, if you are looking for a simple way to pay local expenses, use local services, and make online purchases locally, then one of the online banks in Mexico might be all you need.
How Do I Open a Mexican Account Remotely?
Suppose you want to open an account online in Mexico. In that case, the most important step is confirming that the Mexican bank you choose has the specific capabilities, account types, and banking services you require. This is because not all online banks in Mexico offer a full range of banking services. And, this is especially true for non-residents, foreigners, or expats looking to hold a bank account with a Mexican bank.
Frequently Asked Mexico Banking Questions
Below are a two of the most common questions we receive from people exploring how to open a Mexican bank account 100% online. If you have further questions you would like answered, don’t hesitate to get in touch with us directly.
Can Non-Residents Open Bank Accounts Online in Mexico?
Yes, non-residents can open accounts online in Mexico if they choose the correct Mexican bank (or digital banking platform), have a local phone number, and can complete the onboarding process. That said, the Mexican bank account will not function like a regular bank account and will have restrictions if you do not have Mexican residency.
Is It Difficult for Non-Residents to Open Bank Accounts in Mexico?
It can be difficult for non-residents to open accounts in Mexico if they do not have the right documentation or know which bank to approach. In general, we suggest that our members consider one Mexican bank in particular, which allows non-residents, foreigners, and expats to open accounts remotely (if you have a Mexican phone number). And, if you’re a non-resident who can visit a bank in person, there are other account options available as well.
Do You Want Help Opening a Bank Account?
If so, you can access GlobalBanks Insider and start the process of applying for an offshore account in a few clicks.
GlobalBanks Insider is a dedicated account opening solution that involves direct support from our team and direct introductions to the banks of your choosing. It gives you instant access to the…
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+ Plus FULL access to our entire suite of account opening tools and intelligence!
And “yes!” GlobalBanks Insider is designed to help foreign and non-resident individuals and companies open bank accounts.
You can learn more on the products page from the main menu above.
