NEWS

March 18, 2026

by Carla1

Best Bank in Mexico for foreigners

For most foreigners living in Mexico, BBVA is the best overall choice. For foreigners who are newly arrived or non-resident, Scotiabank is the easiest mainstream bank on paper.

Why BBVA wins overall: BBVA has the biggest footprint of the banks you listed, with 1,635 branches and 14,381 ATMs as of December 2025, and it also publishes a foreigner-specific onboarding flow that can start in the app or at a branch. BBVA also says permanent residency is not required, but its own checklist still asks for a migratory document, CURP, Mexican cellphone number, and proof of address, so it fits foreigners who are already somewhat set up in Mexico better than short-stay visitors.

Why Scotiabank is the best newcomer/non-resident option: Scotiabank has a dedicated page for non-resident foreigners, explicitly says it can open accounts for visitors with permits up to 180 days, and offers 30 bilingual branches plus an English-support phone line. That is the clearest foreigner-facing setup I found among the six.

My practical ranking would be:

1. BBVA — best overall for foreign residents and day-to-day banking.
2. Scotiabank — best for non-residents, English help, and lower-friction onboarding.
3. Banorte — very strong domestic bank with 1,216 branches and 12,168 ATMs, plus the #2 position in loans/deposits in Banorte’s own 4Q25 presentation, but its retail pages are less explicit about the foreigner path than BBVA or Scotiabank.
4. Santander — workable, with 10,000+ ATMs and foreigner documentation shown on its accounts pages, but its digital-account flow is explicitly for people who are Mexican and have INE/IFE, so it is less foreigner-friendly online.
5. HSBC — viable, especially if you already use HSBC internationally; its basic account accepts foreigners with a passport plus immigration/residency documents, but its digital opening flow is also Mexico/INE-centric. Its basic account mentions 5,500+ HSBC ATMs.
6. Inbursa — usually my last pick for foreigners because its basic account is more old-school and branch-driven, and it lists CURP plus passport and FM2/FM3 for foreigners.

So the cleanest answer is:

Best for expats / residents: BBVA
Best for non-residents / easiest mainstream foreigner process: Scotiabank

Yes — BBVA can be opened online, but for foreigners it’s usually “easy only if you already live in Mexico.” BBVA’s own foreigner page says you can download the BBVA México app, choose “Quiero una cuenta”, select foreign nationality, and the account can be activated in minutes; after that, you can go to a branch to pick up the physical card at no cost.

The catch is the requirements. BBVA also says the foreigner applicant must live in Mexico, have a Mexican cellphone number, and present documentation such as a valid migratory document or residence card, passport, and proof of address no older than 3 months. On some BBVA pages, they also list CURP if it does not appear on the migratory document.

So, in practical terms:

• Easy enough if you are a temporary or permanent resident and already have your local documents ready. BBVA explicitly offers a foreigner flow in the app.
• Not very easy if you are just a tourist / short-stay visitor, because BBVA’s public requirements are centered on residing in Mexico and having immigration/address documentation.
• Not fully frictionless online, because even when the account opens in the app, BBVA says you may still need to go to a branch to collect the physical card, and some products for foreigners are still presented as branch-based.

My blunt take: BBVA is good, but not the easiest bank for a foreigner with minimal paperwork. It is best when you already have your Mexico setup done.

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