Mexico
Banking in Mexico
Mexico Business Experts
Recent forum posts
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Starting a new business in India
I run a UK business and my fellow Director is an Indian National (I am a British citizen).We now want to launch our company in India and I am struggling to make any progress with the Indian High Commission. Can anyone help me with the process. I have twice visited the commission in London and wasted hours of time due to their complete lack of organisation.I will appreciate any help to make
Total Posts: 12 Last post by leahhart65
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Hiring Struggles for Small Businesses in NZ, Are We Overlooking Soft Skills?
Hi everyone,I’ve noticed that many small businesses in NZ are facing real challenges when it comes to hiring the right people not just in terms of technical ability, but soft skills too. Communication, adaptability, and problem-solving often seem harder to find than certifications or experience.A few small business owners I’ve talked to said they struggle to read between the lines of a sta
Total Posts: 1 Last post by ngaiomarsh98
Banking in Mexico
There are five main banks in Mexico: Bancomer (owned by BBVA in Spain), Banamex (owned by CitiBank and Group of USA), Banco Santander (partially owned by Bank of America, HSBC, and Banorte.
You can open a bank account both in Mexican pesos or dollars. To open a bank account in Mexico you will need the following:
- A valid passport
- Visa- FM2 or FM3
- Two bank and/or credit references (Mexican or foreign)
- Proof of address (a bill with your address on it)
When you open a bank account in Mexico, you are able to get a credit card with the same bank. The requirements are the same as above, in addition to proof of income. Some banks will require you to have your account with them for at least 6 months and a balance of $50,000 pesos before issuing you with a credit card if you cannot provide credit references.
Business hours are normally 9 am to 4 pm.
Organisations that can assist with Banking
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> Need to open a bank account in this country?
Business Banking advice Advice on which type of bank account would best suit your business. Help making payments – and getting paid.
