Banks in Mexico 2026: a ranking built on verified facts
A ranking of Mexican commercial banks (instituciones de banca múltiple) that serve private customers, authorised and supervised by the National Banking and Securities Commission (CNBV), built only on verifiable facts: since when the bank has been operating, whether its deposits are guaranteed by IPAB, whether it holds its own rating from a recognised agency, whether it publishes reports, whether you can open an account from your phone, whether it takes part in SPEI, and whether its fees, rates and complaints route through the UNE and CONDUSEF are published. Every fact links to its source with the date we checked it. We do not compare the size of rates or fees. This is not financial advice. Places are not for sale.
| # | Company | Who it serves | ||||
|---|---|---|---|---|---|---|
| 1 | BBVA México | 93 | 1932 | Yes | Yes | Deposit protection Agency rating App Account online Instant payments |
| 2 | Banco Inbursa | 93 | 1993 | Yes | Yes | Deposit protection Agency rating App Account online Instant payments |
| 3 | Banamex | 89 | 1884 | Yes | Not verified | Deposit protection App Account online Instant payments 24/7 |
| 4 | HSBC México | 86 | 1941 | Yes | Yes | Deposit protection Agency rating App Instant payments |
| 5 | Scotiabank México | 81 | Not verified | Yes | Yes | Deposit protection Agency rating App Account online Instant payments |
| 6 | BanCoppel | 73 | 2007 | Yes | Yes | Deposit protection Agency rating App Instant payments |
| 7 | Banca Afirme | 68 | 1995 | Yes | Not verified | Deposit protection App Account online Instant payments |
| 8 | Compartamos Banco | 58 | Not verified | Yes | Not verified | Deposit protection App Instant payments |
-
- Licensed since
- 1932
- Deposit protection
- Yes
- Agency rating
- Yes
Pros
- Wide range of products for private customers
- Long track record as a licensed bank
- Member of a deposit protection scheme
- Holds its own current rating from a recognised agency
Details Visit site ↗ 93% backed by facts
-
- Licensed since
- 1993
- Deposit protection
- Yes
- Agency rating
- Yes
Pros
- Wide range of products for private customers
- Long track record as a licensed bank
- Member of a deposit protection scheme
- Holds its own current rating from a recognised agency
Details Visit site ↗ 93% backed by facts
-
- Licensed since
- 1884
- Deposit protection
- Yes
- Agency rating
- Not verified
Pros
- Wide range of products for private customers
- Long track record as a licensed bank
- Member of a deposit protection scheme
- Publishes annual reports
Details Visit site ↗ 89% backed by facts
-
- Licensed since
- 1941
- Deposit protection
- Yes
- Agency rating
- Yes
Pros
- Wide range of products for private customers
- Long track record as a licensed bank
- Member of a deposit protection scheme
- Holds its own current rating from a recognised agency
Details Visit site ↗ 90% backed by facts
-
- Licensed since
- Not verified
- Deposit protection
- Yes
- Agency rating
- Yes
Pros
- Wide range of products for private customers
- Member of a deposit protection scheme
- Holds its own current rating from a recognised agency
- Publishes annual reports
Details Visit site ↗ 81% backed by facts
-
- Licensed since
- 2007
- Deposit protection
- Yes
- Agency rating
- Yes
Pros
- Member of a deposit protection scheme
- Holds its own current rating from a recognised agency
- Publishes annual reports
- Has a mobile app
Cons
- Opening an account requires a branch visit
Details Visit site ↗ 90% backed by facts
-
- Licensed since
- 1995
- Deposit protection
- Yes
- Agency rating
- Not verified
Pros
- Wide range of products for private customers
- Long track record as a licensed bank
- Member of a deposit protection scheme
- Has a mobile app
Details Visit site ↗ 70% backed by facts
-
- Licensed since
- Not verified
- Deposit protection
- Yes
- Agency rating
- Not verified
Pros
- Member of a deposit protection scheme
- Publishes annual reports
- Has a mobile app
- Supports national instant payments
Details Visit site ↗ 66% backed by facts
How we calculate the Score
40%
Safety
The year the bank was licensed (from the central bank's register or, where the register shows no date, from the official website), membership of a deposit protection scheme, a current rating of the bank itself from a recognised agency (a parent group's rating does not count) and published annual reports.
25%
Digital services
Whether there is a mobile app, whether a new customer can join without visiting a branch, whether the bank supports the national instant payment system, and whether 24/7 support with a human agent is available.
15%
Products
How many of six main retail lines the bank offers: current account, savings or deposits, cards, consumer loans, mortgages and investments.
20%
Transparency
Whether tariffs and current deposit rates are published without logging in (we count the fact of publication, not the level of the rate), whether the complaints procedure is described, and how many branches the bank has in the country.
How to choose a bank
Check the licence in the register
Only banks licensed by the central bank or supervisor may take deposits. Find the bank in the register on the regulator's website and make sure the licence is valid: the National Bank in Belarus, the Bank of Russia, ARDFM in Kazakhstan, KNF in Poland, BaFin in Germany.
Find out whether your money is protected
Check whether the bank belongs to a deposit protection scheme, which accounts it covers and what the compensation limit is. These are national rules and can change, so read them on the scheme's own website.
Read the tariffs, not the advert
The cost of an account is set by the contract and the price list: maintenance fees, cash withdrawals, transfers, conditions for a free plan. Make sure the document is current and keep a copy of the terms you signed up to.
Compare rates on the day you decide
Deposit and loan rates change often, so we do not publish them. Look up the rate on the bank's official website on the day you apply, and read the terms: duration, top-ups, early withdrawal, effective rate.
Think about how you will use the bank
If you need cash and face-to-face help, look at branches near you; if not, look at the app and support. Your account in one bank does not have to be your only one.
Protect access to your account
Install the app only from a link on the bank's official website, check the site's address, and never share codes from messages. Bank staff do not ask for them on the phone.
Know where to complain
First file a written complaint with the bank and keep its reference number. If the answer does not satisfy you, go to the financial ombudsman where one exists or to the supervisor, then to court. The route is usually published on the bank's website.
Frequently asked questions
Who licenses and supervises banks in Mexico?
Commercial banks (Institución de Banca Múltiple) operate under an authorisation from the National Banking and Securities Commission (CNBV), which supervises them. To check that an institution is a bank, look up its full legal name on the bank's website and search for it in the CNBV register of supervised entities (Padrón de Entidades Supervisadas). Banco de México also publishes the official list of direct SPEI participants, which names each commercial bank.
How much of my deposits does IPAB protect?
The Institute for the Protection of Bank Savings (IPAB) runs the bank deposit insurance: it guarantees bank deposits of individuals and companies up to 400,000 UDIs, automatically and free of charge, with no claim forms for the saver. Each bank states on its pages which products are covered by IPAB.
What is SPEI and why do you count it?
SPEI is Banco de México's payment system for electronic transfers between accounts at different institutions, and it runs 24/7. We mark a bank as offering instant payments when it appears on the official list of direct SPEI participants.
How do I complain about a bank?
First to the bank's Specialised Customer Unit (UNE), whose contact details must be published on its website. If you are not satisfied with the answer, you can turn to CONDUSEF, the financial consumer protection authority. Each bank card shows whether the bank publishes its complaints procedure.