ATM Fees in Mexico - Banks With The Lowest Withdrawal Charges
The bank with the lowest ATM fees in Mexico is Inbursa but the best bank to withdraw money in Mexico is Citibanamex because it is the most commonly found bank with the lowest withdrawal fees.
Inbursa charges just 22.04 pesos, followed closely by Banbajio at 23:20 pesos and Banca Mifel at 26.68 pesos. Citibanamex, my favourite ATM in Mexico charges 30.74 pesos.
BBVA has the highest ATM withdrawal charges in Mexico, at 174 pesos. Avoid at all costs!
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.
Inbursa charges just 22.04 pesos, followed closely by Banbajio at 23:20 pesos and Banca Mifel at 26.68 pesos. Citibanamex, my favourite ATM in Mexico charges 30.74 pesos.
BBVA has the highest ATM withdrawal charges in Mexico, at 174 pesos. Avoid at all costs!
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.
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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.
Are there any ATMs in Mexico that don't charge withdrawal fees?:
This is fee associated with the ATM that you are using. Not the fees charged by your bank or any conversion fees, the withdrawal fee, nothing more, nothing less.
Ordinarily, there are no ATMs in Mexico with free withdrawals but apparently if you bank with HSBC at home, there is some deal that you can get free withdrawals at HSBC ATMs in Mexico.
Scotiabank also have some agreement with Canadian customers and for those from the USA, if you can get a Charles Schwab account, withdrawal fees are reimbursed and I heard, only up to a certain amount.
But these examples above do not apply to most of us. For me, I am hit withdrawals every time so I need the ATMs with the lowest fees.
I have seen on forums where others are stating that the withdrawal fees differ depending on where you are. I used the ATMs in Mexico City Airport and have found them the same as any ATM across Mexico City, from Roma Norte to non-touristy zones and other cities too.
Ordinarily, there are no ATMs in Mexico with free withdrawals but apparently if you bank with HSBC at home, there is some deal that you can get free withdrawals at HSBC ATMs in Mexico.
Scotiabank also have some agreement with Canadian customers and for those from the USA, if you can get a Charles Schwab account, withdrawal fees are reimbursed and I heard, only up to a certain amount.
But these examples above do not apply to most of us. For me, I am hit withdrawals every time so I need the ATMs with the lowest fees.
I have seen on forums where others are stating that the withdrawal fees differ depending on where you are. I used the ATMs in Mexico City Airport and have found them the same as any ATM across Mexico City, from Roma Norte to non-touristy zones and other cities too.
​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.
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
If you want to copy the info above, do the decent thing and mention #NomadicBackpacker
1. Inbursa:
Inbursa has the lowest ATM fees in Mexico at just 22.04 pesos. I used the Inbursa ATM successfully with a UK-issued Revolut Visa card inside the Sanborns store near Hospital General / Centre Medico in Mexico City.
ATMs at other Sanborns stores rejected my card. Yes, the fees are the lowest but to be honest, they are unreliable. Even the ATM at the bank on Orizaba in Roma Norte didn't work for me.
ATMs at other Sanborns stores rejected my card. Yes, the fees are the lowest but to be honest, they are unreliable. Even the ATM at the bank on Orizaba in Roma Norte didn't work for me.
2. BanBajío:
Banbajio ATM fees Mexico: 23.30 pesos. I used my UK-issued Monese MASTERCARD at the BanBajio bank near the Cuauhtémoc metro.
A good option but you will be hard pushed to find one.
A good option but you will be hard pushed to find one.
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.
Bancoppel is a great option because they are located inside the BanCoppel stores but you won't find them everywhere.
Bancoppel is a great option because they are located inside the BanCoppel stores but you won't find them everywhere.
4. Citibanamex:
Citibanamex ATM fees Mexico: 30.74 pesos. I checked the Citibanamex ATM on Avenida Alvaro Obregon in Roma Norte, Mexico City.
The Citibanamex ATM is best bank to withdraw money in Mexico as it has the lowest fees of the biggest banks in Mexico and is much more common than the ones listed above, with the lower fees.
The Citibanamex ATM is best bank to withdraw money in Mexico as it has the lowest fees of the biggest banks in Mexico and is much more common than the ones listed above, with the lower fees.
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 outdated so I don't use these. I did so just to make this blog post complete.
But their ATMs are a bit outdated so I don't use these. I did so just to make this blog post complete.
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. Someone sent a message on Disqus below that the Santander fee is now (May 2024) 78 pesos. Double-check before you hit the 'accept' button.
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:
The BBVA ATM has Mexico's most expensive withdrawal fee at 174 pesos. There is no need to use this bank when others are a fraction of this price.
174 pesos per withdrawal at the BBVA ATM in Mexico City:
