Tuesday, September 28, 2010

Doing Business in Mexico: Opening a Mexican Bank Account

When you set up a business anywhere, one of the first tasks to take care of is to set up a bank account.  Mexico has a number of banks that offer small and medium businesses checking and savings accounts, some in Pesos and some in Dollars (NOTE:  in order to open a dollar account, you have to be a certain number of kilometers from the US-Mexico border).

The requirements vary from bank to bank but here are the minimum standard requirements that you will need to open a business bank account:

  • Acta constitutiva (articles of incorporation)
  • Official ID (if you are a foreigner, your passport)
  • FM-2 or FM-3 visa (your work or investor's visa)
  • If you are not the legal representative for your company, you must have a document that testifies you can sign on behalf of the company
  • Comprobante de domicilio (proof of address - must be recent, within the last month, Telmex or CFE)
  • Minimum deposit (these range from bank to bank...the least I've seen is $6,000 MXN at Bancomer)
  • Copy of your RFC
  • Business and/or personal references
Remember to check each bank's requirements.  Bring extra copies of everything!


  1. Thanks for the info! I need to open up a personal savings account, and hopefully get a credit card sometime. I've got some investigating to do!

  2. @gringationcancun - Don't worry, opening up a personal account is a bit easier! I like Bancomer because they seem to have ATMs everywhere and the customer service I've received has been good, but as you know they all have their pluses and minuses!