In this post you will be able to find out what is the process that must be followed to open an account in dollars in Mexico You will be able to find all the information that will be of total interest to you in order to obtain said account. Continue with the reading that will help you.
Account in dollars
The US currency is the most accepted in the economy worldwide, which is why it is totally normal to see this currency in any country in the world, wherever you arrive you can see how you will see that it is handled since where we meet people they make transactions with dollars on the other hand it is totally common to acquire any type of goods or services in this currency without any inconvenience.
When traveling, handling dollars in cash is not easy at all, since when going through customs and border checks, crossing with a large amount of dollars in cash turns out to be a great inconvenience (for this, many documents must be completed). formalities and in other cases a series of personal questions must be met).
All this is done as security measures since moving large amounts of dollars from one place to another presents a great danger since there are great possibilities of theft or loss of money. The safest thing in these cases is to have a foreign currency account to be able to have the money at the time it is needed without any obstacles.
In order to open a bank account in dollars in Mexico, it should be noted that it is a quick and easy process to carry out, for this you only need to have essential requirements such as; personal documents, personal, commercial or bank references and have an amount of money available to make the deposit to be used inside or outside the country of residence.
However, many questions may arise, such as, but what happens when you want to manage foreign currencies such as the dollar? Can I still have a bank account? For these questions the answer is yes, when traveling outside of Mexico you can use the account that you opened in the country to make the payments that are necessary to make as well as you will also have the possibility of making cash withdrawals in the place where you find without any inconvenience.
How to open an account in dollars in Mexico?
The majority of the financial houses only open accounts in dollars for those people who have a commercial or work life within the border areas with the United States, since it is stipulated in this way and they are the norms that are frequently found in this country, that is, say that this type of house only opens accounts to people who have a commercial activity with their neighboring country.
Anyone who wants to go to one of the financial houses that offer this type of service in Mexico must take into account before going to it that it is essential that they have a series of requirements that are essential to be able to start with this whole process for the opening of the account. The main thing is that you have assets in this currency, that is, that you earn in dollars, the amount of money that is requested to open this type of account can vary depending on the bank that is chosen, in general it can be an approximate of One thousand dollars.
Once each of the points that were specified in the previous lines is taken into account, the most advisable thing is to go to a bank with great prestige so that you can start with the application process for the opening of the account in dollars, As previously indicated, the requested requirements may vary depending on the institution.
We are now going to know three of the banking entities in the country where you can open accounts in dollars:
Open a dollar account – Scotiabank
The Single Account in Dollars for Individuals of Scotiabank is characterized by being a banking product for all those people who are residing in the border areas of Mexico, through it the administration of money is allowed and thus have it available at the time it is needed. needs to. This type of account is current and has a checkbook, it does not have a debit card, the accounts in dollars of this bank are also for citizens who work for governments, international organizations or institutions and foreign correspondents.
The requirements that are required to be able to open an account in dollars at Scotiabank are the ones that we are going to know below:
- It must be decided within the border strip within northern Mexico.
- Be of age.
- An official identification must be presented that is current and that has the current photo of the applicant plus his signature.
- Submit proof of address.
- CURP Proof of the Unique Population Registry Code (issued by the government secretary or other official document where it appears).
- A minimum opening deposit of $1,000.00 USD is required
- If they are individuals who have a business activity, they must submit a photocopy of the tax identity card and registration with the Ministry of Finance and Public Credit.
- In the case of foreigners residing in the nation, they must present their valid passport.
Open an account in dollars – BBVA Bancomer
Bancomer accounts in dollars have a much lower opening amount than what is required in the case indicated in the previous case since the minimum deposit that must be made is $50, it is also important to mention that whoever has an account in dollars of this entity will be able to dispose of it both in dollars and in pesos as required, at the time of opening they will give you a debit card through which you can make payments as well as withdraw cash from ATMs and You will also have a checkbook.
Requirements that must be entered to open the account:
- Being of legal age means being over 18 years of age.
- Must be a natural person with professional or business activity.
- You must reside within the border strip of northern Mexico.
- Make a minimum opening deposit of $50.00 dollars.
- Indicate active phone number
- Deposit the following documents in the bank:
- Valid official identification (INE, Passport).
- If you are a foreigner, a copy of your immigration form.
- Proof of address no older than three months (electricity, telephone or water bill).
Open an account in dollars – Banamex
This great banking institution offers all users the option of being able to open an account in dollars and have; a checking account to be managed in dollars, will have a checkbook profile, as well as an electronic profile. The opening of this type of profile in the bank expanded both the issuance and the cancellation of checks without having any additional cost, the requirements that must be presented to open this type of account within Banamex are the following:
- You must reside in the border strip, to be more specific, 20 km from the parallel line of the northern border of the country or in the states of Baja California and Baja California Sur, and said information must be accredited by the corresponding Mexican authorities.
- A minimum deposit of $70 must be made to open the account with the entity.
- Present a valid identification (military service card, passport, voter ID, among others).
- Consign the photocopy of the RFC this only in case of being a natural person with business activity.
- In the case of foreigners, they must present their valid passport or the document that certifies the legal stay of a foreigner in the country (VISA).
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