ATM Fees in Mexico: 14 Banks Compared – From Cheapest to Costliest
Updated: February 27, 2025 | Categories: Mexico, Travel Tips, Money Matters
Navigating financial matters abroad can be tricky—especially when it comes to ATM fees. In Mexico, these charges vary widely depending on the bank you choose. After testing 14 different banks across Mexico City, we’ve compiled the ultimate ATM fee comparison guide to help you make informed withdrawals and avoid paying more than you need to.
Quick Summary: 2025 ATM Withdrawal Fees in Mexico (in MXN Pesos)
Bank | Fee (MXN)
Inbursa | 22.04
BanBajío | 23.20
Banca Mifel | 26.68
BanCoppel | 29.00
Banamex (Citibanamex) | 30.74
Santander | 34.80
Banorte | 58.00
Multiva | 67.28
HSBC | 74.24
Banregio | 81.20
Banco Azteca | 115.00
Intercam | 116.00
Afirme | 162.40
BBVA | 197.20
Pro Tip: Inbursa offers the lowest fee, while BBVA ranks as the most expensive—charging nearly 10 USD per withdrawal!
Top Picks & ATM Highlights
1. Inbursa – 22.04 MXN
The cheapest ATM fee in Mexico. We tested this inside a Sanborns store in Mexico City using a UK-issued Revolut Visa card. Be warned: ATMs at other Sanborns locations were unreliable, and even some Inbursa bank branches may reject foreign cards.
2. BanBajío – 23.20 MXN
Tested with a UK Mastercard near Cuauhtémoc metro, this is another low-fee option, though BanBajío branches can be difficult to find.
3. Banca Mifel – 26.68 MXN
One of the newer entries on our list. A reliable option if you can find one—locations are limited but exist in areas like Condesa and Reforma.
4. BanCoppel – 29.00 MXN
Widely available inside BanCoppel stores. Works well with both Visa and Mastercard foreign cards. Great for convenience.
5. Banamex (Citibanamex) – 30.74 MXN
Our Top Recommendation. Offers a low fee and is widely available. Banamex has a long-standing presence in Mexico and is a solid, trustworthy option for expats and travelers.
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Banks to Avoid (Highest Fees)
BBVA – 197.20 MXN
Most expensive fee tested. Avoid unless absolutely necessary.Afirme – 162.40 MXN
Also ranked high on the avoid list. Charges nearly 8 USD per withdrawal.Intercam & Banco Azteca – 115–116 MXN
Both saw significant fee increases in late 2024. Not recommended unless you're in a pinch.
Currency Tips for Newcomers
Currency Symbol: The Mexican peso uses the symbol $, which can be confusing. Always check for MXN or “pesos” when reading prices.
Banknotes: Common denominations are 500, 200, 100, 50, and 20 pesos. Higher-value notes are printed on cotton paper; lower denominations use polymer.
Coins: Typically 1, 2, 5, and 10 pesos. Centavo coins (5–50¢) are less commonly circulated.
How to Minimize or Avoid ATM Fees in Mexico
Bank Partnerships:
HSBC customers may enjoy zero fees at HSBC Mexico ATMs.
Scotiabank also has deals for Canadian customers.
Charles Schwab (USA) reimburses international ATM fees—perfect for digital nomads.
Use Bank-Branch ATMs:
Stick to ATMs inside bank branches for safety and reliability. Standalone ATMs are more vulnerable to card skimmers.Avoid Weekends & Holidays:
Cash can run out at ATMs during weekends, Friday nights, and public holidays. Withdraw midweek if possible.Decline Currency Conversion:
Always reject the ATM’s conversion offer. Let your home bank handle the currency exchange to avoid inflated rates.
Digital Money Transfers & Alternatives
Western Union / Ria Transfer:
Can be useful in emergencies, but fees can be high. BanCoppel once charged 180 pesos for a transfer.WISE (formerly TransferWise):
Now available for residents with Mexican bank accounts. Offers fast, low-cost transfers and highly recommended for longer-term stays.
Is It Safe to Use ATMs in Mexico?
Generally yes, if you follow common-sense precautions:
Use machines inside bank branches during daylight hours.
Check for signs of tampering or skimming devices.
Cover your PIN entry and stay aware of your surroundings.
Final Thoughts
While there's no way to completely avoid ATM fees unless you're banking with a partnered institution, strategic choices can help minimize what you pay. Banamex offers the best combination of low fees and accessibility, while Inbursa and BanBajío provide unbeatable rates if you're lucky enough to find them.
For our fellow expats and globe-trotters: always plan your withdrawals in advance, avoid high-fee machines, and make use of digital banking apps whenever possible.
This guide was prepared using UK-issued Mastercard and Visa cards via Monzo, Revolut, Wise, and Chase. Fees listed were confirmed between October 2024 and March 2025 in Mexico City.
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