Opening a Mexican Bank Account in 2026: BBVA, Citibanamex, or Hey
Three accounts cover 90% of what an American resident actually needs. Here's the trade-off matrix — and the one document that will make-or-break every appointment.
If you've spent more than ten minutes in expat Facebook groups, you've heard "you can't open a Mexican account without residency." That hasn't been universally true for three years. What is universally true is that the path depends on which of three banks you walk into.
BBVA México
BBVA still requires a residency card (Temporary or Permanent) before they'll open a standard checking account. Their Cuenta Maestra is the workhorse most expats end up with: free national transfers, a debit card that works abroad without surcharge on the BBVA network, and a respectable phone app. The downside is foot traffic — branches in CDMX, Guadalajara, and Mérida frequently quote 90+ minute wait times for new-account appointments. Use the BBVA app to book the appointment, not the in-branch desk.
Citibanamex
Citibanamex is the only Big Three bank still opening accounts for visa-holders (not just residents) at select branches — Polanco, Plaza Carso, and Plaza Las Estrellas in CDMX have been processing them. Citi's app is less polished than BBVA's, but for someone who needs an account before their residency card is ready, this is the only mainstream answer. Bring your visa-sticker passport, an RFC printout, and a recent utility bill from your Mexican address.
Hey Banco
The dark horse is Hey, the digital bank owned by Banregio. Sign-up is fully app-based, no branch visit needed, and they accept the CURP-only path that the SAT now permits for tax registration. The catch: Hey is checking-only — no investment products, no credit cards beyond a soft credit line, and customer service is chat-first.
The document that decides everything
Whichever bank, the single document that fails most expats is the comprobante de domicilio — a utility bill (CFE for electricity is the most accepted) in your name or a notarized landlord letter (carta firmada) confirming your address. A printed Airbnb confirmation does not count. A friend's bill with you scribbled on it does not count. Get the carta on the day you sign your lease and laminate it.