Where should I setup a bank account in Mexico?

"Expats should research the local culture and customs of their chosen region before retiring in Mexico in order to make their transition easier. It is important for expats to learn basic Spanish to facilitate communication with locals. It is also wise to research the best city in Mexico to retire in that aligns with the expat's lifestyle, budget and legal requirements. Expats should also obtain comprehensive medical coverage to ensure they have access to quality healthcare. It is important to ensure that all visa and residency documents are in order prior to making the move to Mexico. Finally, expats should be familiar with the cost of living in Mexico to plan their retirement budget accordingly," remarked another expat who made the move to Mexico.

"Contrary to the other posts, I found a very expat-focused bank in Bucerias, the neighboring town to La Cruz. Bancomer recently opened an office with a separate "prefered customer" area. I've learned that "Preferred Customer" means english speaking customer in the spanish language! This area, containing two desks and two employees, is manned by extremely professional english speaking employees. They are college educated and extremely well traveled. You do not need to wait in line for anything, and it took less than a 1/2 hour to setup a new account. It was ready immediatly online, and they even took the time to show me how to access it over the internet. I could not have been more pleased. However, this was after having attempted to open an account with Monex. On a previous trip, my husband and I went to the Monex office together to set up an account. We signed what we thought was all the paperwork. But two weeks later in the US, we received more paperwork to sign. So we signed it, sent it back, then they did not like the signatures. We have to redo it all. In the mean time, we closed on a house, had wired money to the new account, and could not access it. The process has been going on now for about 6 weeks and we still do not have access to our money. We asked to close the account, but cannot close it until they process the third round of signatures," explained one expat living in La Cruz de Huanacaxtle / Puerto Vallarta, Mexico.

Welcome Home Mexico
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Welcome Home Mexico occupies a niche in the market as a successful relocation and real estate firm helping expats moving to Mexico! As seen on CBS news, PBS, in the L.A. Times and more, we are one of the leading companies in this field. Welcome Home Mexico offers a wide range of services, multi-lingual knowledgeable brokers with experience, efficient and professional service.

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Welcome Home Mexico

Welcome Home Mexico occupies a niche in the market as a successful relocation and real estate firm helping expats moving to Mexico! As seen on CBS news, PBS, in the L.A. Times and more, we are one of the leading companies in this field. Welcome Home Mexico offers a wide range of services, multi-lingual knowledgeable brokers with experience, efficient and professional service.
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Click connect to have our partner contact you via e-mail and/or phone.