Banking is convenient and easy to do in Mexico. There is a universal ATM network spread out across the country and rarely will you have to search far for one of them (unless you are in rural Mexico.) There are five major banks in Mexico, Bancomer (which is owned by BBVA in Spain), Banamex (which is owned by CitiBank and Group of USA), Banco Santander (which is partially owned by Bank of America), HSBC, and Banorte. In addition, all major credit cards are accepted in the larger department stores, grocery stores and organizations, while only cash is accepted in the small mom-and-pop stores known as tiendas.
In order to open a bank account in Mexico, you must be able to provide the following; An FM2 or an FM3 (see visa section), your passport, proof of residency (a bill with your address on it) and two references who can vouch for your financial stability. Checking accounts are almost non-existent in Mexico, most people use cash. If you decide to keep your U.S. or Canadian bank account, you will be able to use your universal bank card at any of the ATM's, or your major credit card to take out cash advances.
Source: www.expatfocus.com
This website provides Relocation-to-Mexico information, Real Estate listings in and around the Ajijic and
Lake Chapala areas of Mexico, tips for Canadian and American and other Expats retirees, as well as links to
Professionals that Lynda MacMahon works with and whose services she highly recommends. Lynda MacMahon
is a successful and award winning RealEstate Professional with a proven track record. You will also find
testimonials from her clients,articles on retiring in Mexico, maps of Mexico's Lake Chapala area, currency
converters and other information. Featured is an enjoyable video of the Ajijic area.
