Lowest ATM Fees in Mexico
The ATM in Mexico with the lowest withdrawal fee is Inbursa at just 22.04 pesos, closely followed by Banbajio at 23:20 pesos but there is a new one for the blog post in 3rd place, Banca Mifel at 26.68 pesos.
I used a UK-issued Mastercard by Monese and tried to withdraw 1000 pesos for all attempts before cancelling the transaction.
All ATMs featured in this post accept both Mastercard and Visa cards.
Incidentally, despite claims on some blogs, there are NO ATMs with free withdrawals in Mexico and BBVA has the highest ATM withdrawal fee in Mexico at 174 pesos.
All ATM fees detailed here have been checked as of the 25th & 26th of March 2024.
I used a UK-issued Mastercard by Monese and tried to withdraw 1000 pesos for all attempts before cancelling the transaction.
All ATMs featured in this post accept both Mastercard and Visa cards.
Incidentally, despite claims on some blogs, there are NO ATMs with free withdrawals in Mexico and BBVA has the highest ATM withdrawal fee in Mexico at 174 pesos.
All ATM fees detailed here have been checked as of the 25th & 26th of March 2024.
This is the property of Nomadic Backpacker, so if you see it published elsewhere, please contact me
This Mexican ATM post is my best-performing post by a long shot and with the new intel, I aim to keep it on page 1 of Google Search Results for as long as possible by checking regularly each of the ATMs listed here.
The currency in Mexico is the Mexican peso. The ISO is MXN and the symbol is the $, so do not assume it is $ for USD Dollars. You are in Mexico.
Notes are available in denominations of 500, 200, 100, 50 and 20 pesos. The 500 and 200 peso notes are printed on cotton paper and the 100, 50 and 20 peso notes are made from polymer. There are 2 versions of the 500, 100, 50 and 20 peso notes in circulation.
Coins can be found in denominations of 5, 10, 20 and 50 centavos (cents) though you'll have to be pretty lucky to find the 5, 10 and 20 ones. The larger coins are worth 1, 2, 5 and 10 pesos.
Notes are available in denominations of 500, 200, 100, 50 and 20 pesos. The 500 and 200 peso notes are printed on cotton paper and the 100, 50 and 20 peso notes are made from polymer. There are 2 versions of the 500, 100, 50 and 20 peso notes in circulation.
Coins can be found in denominations of 5, 10, 20 and 50 centavos (cents) though you'll have to be pretty lucky to find the 5, 10 and 20 ones. The larger coins are worth 1, 2, 5 and 10 pesos.
Which bank has no ATM fees in Mexico?
There are no ATMs in Mexico with free withdrawals, despite what is reported on some blogs, so you need to use the ATMs with the lowest withdrawal charge. This fee is the one charged by the bank you are using, nothing to do with your own bank.
if you bank with HSBC at home, there is some deal that you can get free withdrawals at HSBC ATMs in Mexico but ordinarily, all ATMs will charge you.
Some US and Canadian banks have deals with Mexican banks where withdrawal fees might be waivered or indeed if you have a Charles Schwab account, withdrawal fees will be reimbursed.
The withdrawal fees vary tremendously. From 22.04 pesos at Inbursa to a massive 174 pesos at BBVA. 174 pesos is +/- 10 USD.
I tried 3 times to check the Scotiabank ATM fees Mexico and each time my attempt to withdraw cash was declined. No reason given.
if you bank with HSBC at home, there is some deal that you can get free withdrawals at HSBC ATMs in Mexico but ordinarily, all ATMs will charge you.
Some US and Canadian banks have deals with Mexican banks where withdrawal fees might be waivered or indeed if you have a Charles Schwab account, withdrawal fees will be reimbursed.
The withdrawal fees vary tremendously. From 22.04 pesos at Inbursa to a massive 174 pesos at BBVA. 174 pesos is +/- 10 USD.
I tried 3 times to check the Scotiabank ATM fees Mexico and each time my attempt to withdraw cash was declined. No reason given.
Mexico ATM Fees
1. Inbursa - 22.04 pesos
2. BanBajio - 23.20 pesos
3. Banca Mifel - 26.68 pesos
4. BanCoppel - 29 pesos
5. CitiBanamex - 30.74 pesos
6. Banco Azteca - 34.80 pesos
7. Santander - 34.80 pesos
8. HSBC - 35.84 pesos
9. Banorte - 58.00 pesos
10. Multiva - 67.28 pesos
11. Banregio - 81.20 pesos
12. BBVA - 174 pesos
2. BanBajio - 23.20 pesos
3. Banca Mifel - 26.68 pesos
4. BanCoppel - 29 pesos
5. CitiBanamex - 30.74 pesos
6. Banco Azteca - 34.80 pesos
7. Santander - 34.80 pesos
8. HSBC - 35.84 pesos
9. Banorte - 58.00 pesos
10. Multiva - 67.28 pesos
11. Banregio - 81.20 pesos
12. BBVA - 174 pesos
1. Inbursa:
Inbursa ATM fees Mexico: 22.04 pesos, the lowest ATM withdrawal fee in Mexico. I used the Inbursa ATM successfully with a UK-issued Revolut Visa card and checked with a UK-issued Monese Mastercard, at the Inbursa Bank inside the Sanborns store near Hospital General / Centre Medico in Mexico City.
2. BanBajío:
Banbajio ATM fees Mexico: 23.30 pesos. I successfully used my UK-issued Monese MASTERCARD at the BanBajio bank near the Cuauhtémoc metro.
3. Banca Mifel:
Banca Mifel ATM fees Mexico: 26.68 pesos. New for this blog post. Banca Mifel pushes BanCoppel down into 4th place. You won't find many Banca Mifel ATMs on your travels in Mexico City. I used the one on Av. Nuevo Leon in Condessa but there is one on Reforma too.
4. BanCoppel:
Bancoppel ATM fees Mexico: 29 pesos. I have used the BanCoppel ATM successfully with UK-issued VISA and MASTERCARD cards.
4. Citibanamex:
Citibanamex ATM fees Mexico: 30.74 pesos. I checked the Citibanamex ATM on Avenida Alvaro Obregon in Roma Norte, Mexico City.
This is probably the best bank to withdraw money in Mexico as it has the lowest fees of the biggest banks in Mexico. The ones above are simply a bit harder to find.
This is probably the best bank to withdraw money in Mexico as it has the lowest fees of the biggest banks in Mexico. The ones above are simply a bit harder to find.
6. Banco Azteca:
Banco Azteca ATM fees Mexico: 34.80 pesos. I used the Banco Azteca ATM at the Banco Azteca bank at Gloria Insurgentes.
But their ATMs are a bit clanky and there aren't so many around.
But their ATMs are a bit clanky and there aren't so many around.
7. Santander:
Santander ATM fees Mexico: 34.80 pesos. I checked the Santander ATM near the Cuauhtémoc metro in Mexico City but you'll find them all over.
8. HSBC:
HSBC ATM fees Mexico: 35.84 pesos. The withdrawal fee is down from what it was last year (81.20 pesos).
9. Banorte:
Banorte ATM fees Mexico: 58.00 pesos. I checked the Banorte ATM on Avenida Alvaro Obregon in Roma Norte. The fee has gone up, just this month.
10. Multiva:
Multiva ATM fees Mexico: 67.28 pesos. I checked the Multiva ATM with my UK-issued Revolut Visa card. I tried to use my Mastercard but my attempt was declined. Unsure if it's an issue with Mastercard or just my account.
They are mostly stand-alone ATMs found in hospitals and pharmacies.
They are mostly stand-alone ATMs found in hospitals and pharmacies.
11. Banregio:
Banregio ATM fees Mexico: 81.20 pesos. You won't find many Banregio ATMs in Mexico City but it's worth adding to make the list more complete. I checked the Banregio ATM on Reforma.
12. BBVA:
BBVA ATM fees Mexico: 174 pesos. BBVA has the most expensive withdrawal fee in Mexico.
Finally the proof. 174 pesos per withdrawal at the BBVA ATM in Mexico City:
Tips for using the ATM in Mexico
- ATMs are known locally as a Cajero Automático.
- Location: Always use the ATM that is at the bank. Card skimmers can be added to the ATM that steal your details and PIN. ATMs at the bank are checked by bank staff more regularly than stand-alone ATMs at your local convenience store.
- Common sense: It goes without saying but do not use ATMs at night.
- Timing: Try to avoid using the ATM on a weekend, on a Friday night or after payday and equally, not on a Morning morning. ATMs might have run out of cash.
- Decline Conversion: Some ATMs offer an in-bank conversion. This is a rip-off. Always decline the conversion. The transaction won't be cancelled. I accepted the conversion once and it cost me £10.