Evolution of banking services in Mexico

Cheryl Moderator

Member since 15 October 2018

CherylModerator25 September 2023 04:48:05

15080

Hello everyone,

With rapid technological advancements, banking services are digitizing at lightning speed. Expats are thus propelled into a new era of options and payment methods, disrupting the traditional banking services of local establishments in Mexico. An evolution that presents a range of opportunities and challenges on a local scale.

Share your experiences regarding the evolution of bankings services in Mexico:

To what extent are the latest banking technologies being adopted and utilized in Mexico? (contactless payments, phone-based payment systems, QR codes, etc.)
What are the advantages and disadvantages?

Are new payment methods emerging in Mexico? Which ones, and what does it change in your daily life?

What are the advantages of using local bank services versus an international online banking service as an expat?

Are there specific features in banking apps that you find particularly helpful as an expat in Mexico?

By sharing your experiences and insights, you contribute to a broader understanding of the evolving banking landscape for expats in Mexico.

Thank you for your contribution.

Cheryl
Expat.com Team

Roms G Member

Member since 13 July 2023

Roms GMember28 September 2023 14:34:27

Having a local bank account in Mexico can be a real game-changer. You can use it for online shopping with local stores, paying for things like cleaning services hassle-free, and taking out whatever amount of cash you need. Plus, it's super handy for receiving payments from local folks. So, whether it's a good move for you really depends on your day-to-day life in Mexico.