BBVA Mexico
traditional bank
BBVA Mexico (formerly Bancomer) is Mexico's largest bank by assets and customer base, operating over 1,700 branches and 14,000 ATMs nationwide. A subsidiary of Spain's BBVA Group, it offers a wide range of retail and business banking products including the no-fee Cuenta Clara digital account, multi-currency USD/MXN accounts, debit and credit cards on the Visa network, mortgages, and SME lending. Account opening requires Mexican legal residency and an RFC tax number, making it inaccessible to tourists or short-stay visitors. US persons are accepted with FATCA compliance documentation. The BBVA Mexico app is among the most capable in the Latin American region, supporting Cobro Digital (CoDi), SPEI instant transfers, bill payments, and card controls. Business accounts are available for Mexican-registered entities of all sizes, with dedicated SME relationship managers in major cities. Deposit protection is provided by IPAB up to MXN 400,000 per depositor.
Details
- Headquarters
- Mexico
- Currencies
- 2
- Monthly Fee
- Free
- Non-Residents
- Not accepted
- US Persons
- Accepted
- Debit Card
- Available
- Business Account
- Available
Opening Requirements
- •Valid passport or Mexican INE/IFE national ID
- •Mexican RFC (tax identification number) — obtainable for foreigners with legal residency
- •Proof of Mexican address (utility bill or lease agreement)
- •Valid Mexican residency permit (temporary or permanent) for foreigners
- •Initial deposit (varies by account type; Cuenta Clara requires no minimum)
Restricted Nationalities
Not available to nationals of: north-korea, iran, cuba, syria
Nationality Acceptance Matrix
Who this provider will and will not onboard. Refusals are listed first. Sourced from the provider's own published terms and recent public onboarding reports — confirm with the provider before applying.
| Nationality | Accepted | Notes |
|---|---|---|
| iran | NO | Blocked — BBVA Group global compliance with UN/OFAC/EU Iran sanctions. |
| cuba | NO | Blocked — OFAC Cuba sanctions exposure through BBVA's USD-clearing operations. |
| north korea | NO | Blocked — UN/OFAC DPRK sanctions. |
| syria | NO | Blocked — UN/OFAC/EU Syria sanctions. |
| us | YES | US persons accepted; FATCA-compliant; W-8BEN or additional tax documentation required. Legal Mexican residency still required to open a personal account. |
| mexico | YES | Mexican nationals are the primary customer base; full product access with INE/IFE ID. |
| eu | YES | EU nationals accepted provided they hold valid Mexican temporary or permanent residency and an RFC. |
| uk | YES | UK nationals accepted with valid Mexican residency permit and RFC. |
| canada | YES | Canadian nationals accepted; valid Mexican residency and RFC required. |
| russia | YES | Russian nationals accepted if legally resident in Mexico; Mexico has not adopted Western sanctions against Russia; standard KYC screening applies. |
| china | YES | Chinese nationals accepted with valid Mexican residency and RFC; enhanced due diligence may apply. |
Similar Banking Options
Options matched on type and jurisdiction — not a recommendation.
Related Guides
US expat tax checklist: FBAR, FATCA, PFIC, FEIE, GILTI
A neutral walk-through of the US tax obligations that follow American citizens abroad — what they are, when they bite, and how the mainstream planning around each one actually works.
Zero and low-tax residencies: the real list
Countries with zero personal income tax, territorial-only taxation, or special expatriate regimes — and what each one actually requires from you to qualify as a resident.
Exit tax: countries that charge you to leave
Country-by-country reference of departure taxes, deemed-disposition rules, and wealth-locking regimes that trigger when tax residency ends.
Sources & last verified
- Last verified 2026-06-15