Opening an account at BanBajío bank (pronounced “Ban-bahio”) was not difficult at all. At the time of opening we already had temporary residence and, using it, we could open an account at the bank.
Requirements
- Passport
- Temporary residence (or permanent residence)
- Proof of address (electricity or water bill; it must be the original document)
Banks always ask for proof of address, and it must be the original. Otherwise they will not open the account. During the process the bank will make a copy and return the original to you. In some cases, the bank asks you to bring a copy yourself.
After delivering the documents, you will be asked for your email address and a Mexican phone number. At the end of registration, the bank informs that on the next business day a verification company will visit your home to take photos and confirm that you live at the same address as on your electricity bill.
The next day the bank notifies you that your account is ready. You can come to pick up your debit card and deposit the minimum opening amount (or any amount you want).
The bank requires a minimum amount to activate the account — 1,000 pesos — and this should remain as your average monthly balance so the bank does not charge a monthly service fee.
BanBajío also provides trust (fideicomiso) services, which allow foreigners to buy and own property in Quintana Roo.
Cash withdrawals & ATMs
Check your balance and withdraw cash free of charge at ATMs of BanBajío, Afirme, Scotiabank, Inbursa, Banregio, Intercam, Banco Azteca, BanCoppel, Mifel, Bancrea, and HSBC.
You can also withdraw cash at RED network ATMs of other banks (with a fee).
