Mexico ATM Fees - Banks With The Lowest Withdrawal Fees

Updated: December 3, 2024 | Tagged: Mexico, Travel Hacks, ATM Fees

Blog post detailing withdrawal fees at 14 different ATMs in Mexico.

As a savvy traveller, you need to be asking yourself: what bank has the lowest ATM fee? ATM fees in Mexico and around the world, vary tremendously.

The cheapest ATM in Mexico is Inbursa, which charges just 22.04 pesos, Banbajio has the 2nd lowest ATM fees in Mexico at 23.20 pesos. Banca Mifel charges 26.68 pesos.

The best ATM to use in Mexico is probably Citibanamex as it's the cheapest of the most popular banks in Mexico.

You should definitely avoid the BBVA bank when in Mexico as the ATM fee here is an incredible 174 pesos. That's almost 10 USD per withdrawal.

This blog post details ATM withdrawal fees at 14 banks in Mexico.

I used a UK-issued Mastercard and VISA to check the fees.

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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.

The Mexican peso is the currency used in Mexico

How to avoid ATM fees in Mexico?:

The ATM Fee is the 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. This is one way to avoid ATM fees in Mexico.

Scotiabank also have some agreement with Canadian customers and for those of you from the USA, you can get a Charles Schwab account, where withdrawal fees are reimbursed.

But these examples above do not apply to most of us. I am hit withdrawals every time, so the best strategy is to avoid using the ATMs with high withdrawal fees like BBVA, Afrirme, Intercam and Banco Azteca.

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.

Is it safe to use the ATM in Mexico?:

Common sense: It goes without saying but do not use ATMs at night.
Make sure you check the ATM hasn't been tampered with
Always use the ATM inside the bank whenever possible

Mexico ATM Fees:

Here are ATM withdrawal fees at 14 different banks in Mexico:

Inbursa - 22.04 pesos
BanBajio - 23.20 pesos
Banca Mifel - 26.68 pesos
BanCoppel - 29 pesos
CitiBanamex - 30.74 pesos
Santander - 34.80 pesos
Banorte - 58.00 pesos
Multiva - 67.28 pesos
HSBC - 74.24 pesos
Banregio - 81.20 pesos
Banco Azteca - 115 pesos
Intercam - 116 pesos
Afirme - 162.40 pesos
BBVA - 174 pesos

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1. Inbursa:

Inbursa has the cheapest ATM 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.

The fee is still correct as of January 14, 2025.

2. BanBajío:

Banbajio ATM fees Mexico: 23.30 pesos. I used my UK-issued MASTERCARD at the BanBajio bank near the Cuauhtémoc metro.

A good option but you will be hard pushed to find one.

Fee still correct as of October 17 2024.

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 while travelling in Mexico City. I used the one on Av. Nuevo Leon in Condessa but there is one on Reforma too.

Fee still correct as of October 17 2024

4. BanCoppel:

Bancoppel ATM fees Mexico: 29 pesos. I have successfully used the BanCoppel ATM with UK-issued VISA and MASTERCARD cards. The withdrawal fee at Bancoppel ATMs is still correct as of December 11, 2024

Bancoppel is a great option because they are located inside the BanCoppel stores, but you won't find them everywhere.

5. Citibanamex:

Citibanamex ATM fees Mexico: 30.74 pesos. I checked the Citibanamex ATM on Avenida Alvaro Obregon in Roma Norte, Mexico City. The fee is still correct as of October 10, 2024.

Citibanamex is the best ATM to withdraw money from in Mexico as it is much more common than the ones listed above.

6. 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. But I checked, and the fee as of October 10, 2024, is still correct, for me at least.

7. Banorte:

Banorte ATM fees Mexico: 58.00 pesos. I used the Banorte ATM on Avenida Alvaro Obregon in Roma Norte. The fee is still correct as of October 10, 2024.

8. Multiva:

Multiva bank 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. The withdrawal fee at Multiva ATMs is still correct as of December 11, 2024.

9. HSBC:

HSBC bank ATM fees Mexico: 74.24 pesos. This is the fee in Roma Norte in Mexico City as of October 10 2024. Yes, it's gone up since I last checked back in March.

10. 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 Av. Paseo de la Reforma.

11. Banco Azteca:

Banco Azteca ATM fees Mexico: 115 pesos. Increased from 34.80 pesos November/December 2024.

Checked using UK-issued Mastercard, December 3 2024.

Banca Azteca ATM showing withdrawal fee 115 pesos

12. Intercam:

The Intercam Banco ATM fees Mexico: 116 pesos. I went to the one on Rio Tigris, not far from the The Angel of Independence in CDMX. There is another one in Polanco. Other than that, you'll be hard-pressed to find one. The withdrawal fee is not favourable anyway.

I checked this on October 17, 2024.

13. Afirme:

Afirme ATM fees Mexico: 162.40 pesos. I went to the one Av. Paseo de la Reforma, not far from The Angel of Independence. With such a high fee, it's another one to avoid.

I checked this on October 23, 2024.

Afirme ATM in Mexico City showing ATM withdrawal fee

14. BBVA:

The BBVA ATM has Mexico's most expensive withdrawal fee at 174 pesos. Avoid withdrawing money from BBVA ATMs!

174 pesos per withdrawal at the BBVA ATM in Mexico City:

Support:

Nomadic Backpacker is free to read, but bringing you all the top-quality information costs money.

Donate via PayPal and keep the show on the road. Many thanks:

Mexico ATM Fees - Banks With The Lowest Withdrawal Fees