Can I Open A Mexican Bank Account From The U.S.?
A bank account is essential to financial life in most places. And sometimes you need an account in two countries. We’ll explain why bank accounts are essential, if you can open a bank account in Mexico, where you can find Mexican banks in the U.S., and how to open a Mexican bank account online.
Why you need a bank account
Having a bank account in your new home is one of the first steps you should take when setting up your new life. A bank account, particularly a checking account, makes life easier and less expensive and protects your money.
We use checking accounts to pay our bills, accept direct deposits from employers or government entities like Social Security and the IRS, cash checks, and transfer money to friends and family in some cases. If you don’t have a checking account, you will have to buy money orders to pay bills, pay a check cashing service to cash checks made out to you, and use paid services like PayPal to transfer money to people.
If you don’t have a bank account, your money is all in cash. Cash can be lost, stolen, or destroyed by something like a fire or flood.
Banks are an essential part of American financial life.
Opening a bank account in Mexico
Just because you move to a new country doesn’t mean you may not still have business in your home country or that you plan to stay permanently. Many people come to the U.S. temporarily, perhaps for a job or school, but plan to return home at some point.
That’s often the case for Mexican citizens, so opening a bank account in Mexico can be a good idea for all of the same reasons; it’s a good idea anywhere you plan to stay for longer than a vacation.
You are required to have either citizenship or temporary or permanent residency to open a Mexican bank account.
Mexican banks in the U.S.
Ideally, you would like to use a bank with branches in the U.S. and Mexico. You’re in luck! There are several banks that operate on both sides of the U.S./Mexican border. Please note that even though a bank has branches in both countries, you may still have to set up two accounts, one in each place. But, having both accounts with the same bank can still make things a little easier.
These banks operate in both countries, and the links will take you to a location finder:
Bank of America (affiliated with Santander Bank)
Citibank (known as Banamex in Mexico)
Mizuho Americans U.S. locations, Mexican locations
Santander Bank U.S. locations, Mexican locations
Opening a Mexican bank account online
The requirement to open a bank account online varies by bank. Some allow it with proper identification, but others may require customers to visit a local branch in person.
One option may be SuperDigital from Santander.
Banking is the first step
Opening an American bank account is an excellent first step in setting up your life in your new country, but it’s only the first step. And arguably, one of the easiest. Some aspects of U.S. personal finance are a bit more complex.
That’s where Upwardli comes in! Upwardli was created to help those new to the country understand and navigate the financial system. Upwardli can help you build your credit history, one of the most important aspects of American financial life, and we’ve created dozens of resources to help you learn what you need to know to succeed and thrive in your new home. When it comes to American personal finance, Upwardli is here for you!
