🏦 What Do Americans Living in Mexico Need to Open a BBVA Account?

Opening a bank account in Mexico can feel like stepping into a different financial universe—but for American expats, BBVA Bancomer is one of the most accessible and widely recommended options. With a strong national presence, modern digital tools, and relatively low fees, BBVA is often the first choice for those settling into life south of the border.

✅ Basic Requirements for Americans

To open a BBVA account in Mexico, you’ll need the following:

1. Valid Passport: Your U.S. passport serves as your primary form of identification.

2. Mexican Residency Card: BBVA requires either a temporary or permanent residency visa. Tourist visas are not accepted for account opening

3. Proof of Address in Mexico: This can be a utility bill (electricity, water, internet) dated within the last 3 months. It must show your name and local address.

4. RFC Number (Registro Federal de Contribuyentes): This is Mexico’s tax ID. Some BBVA branches may help you generate a simplified RFC on the spot, but others will require you to obtain it beforehand through SAT (Mexico’s tax authority).

5. Minimum Deposit: BBVA may require an initial deposit, typically ranging from $500 to $1,000 MXN (about $30–$60 USD), depending on the account type.

   
   

🧭 What Expats Should Know

• Branch Variability: Requirements can vary slightly by branch. Some may be stricter about RFC or proof of address, while others are more flexible.

• Language Barrier: While BBVA is modern and well-staffed, not all branches offer English-speaking service. Bring a Spanish-speaking friend or translator if needed.

• Digital Banking: BBVA’s app is robust and user-friendly, but setup may require in-person activation and a Mexican phone number.

“I had to visit two branches before finding one that would help me generate an RFC. Once I had that, the process was smooth.” — American expat in Querétaro

🚫 What You Can’t Use

• Tourist Visa: BBVA does not allow account openings for those on tourist visas. If you're still in the process of obtaining residency, consider using Intercam or Wise for temporary banking solutions

🕰️ What Changed?

There was a time—especially before 2022—when BBVA branches occasionally allowed Americans to open accounts with just a passport and tourist visa. Expats shared stories of walking in with minimal paperwork and walking out with a debit card. But that era has passed.

BBVA now enforces residency requirements more strictly, aligning with national efforts to prevent money laundering and ensure proper tax reporting. While some branches may still show flexibility, this is increasingly rare and inconsistent.

“I opened my BBVA account in 2021 with just a passport and a CFE bill. Tried helping a friend do the same in 2024—no luck without residency.” — American expat in Mérida

🧭 Alternatives for Tourists

If you're still on a tourist visa, Intercam remains the most reliable option. They specialize in serving foreigners and offer accounts with more flexible documentation requirements.

---

• Before you open your BBVA account, make sure your RFC is squared away. Here’s how I got mine—fast and frustration-free.

• Once your banking is set, it’s time to protect what you’ve built. Compare AXA vs. Qualitas to find the right insurance fit.

• Still planning your move? Meet the mover expats trust most in Mexico.