ATM Tips for Mexico: Where to Withdraw, What It Costs, and How to Avoid Scams
Hi there, are you ready for your trip to Mexico?
Suitcase packed, tickets in hand, swimsuit ready, and stomach prepared… but you’re not sure how to handle money or how ATMs work in Mexico?
No worries. I’m here to clear up all your doubts and help you make your trip to Mexico smoother.
After nearly four months traveling in this country, I’ve learned a lot firsthand about how ATMs work in Mexico, so I’m going to share all the tips with you in this post.
I’ll structure this post around the kinds of questions I usually ask myself before visiting a new country. Hopefully, by the end, you’ll have all the info you need.
Pick your Language but sorry if in this case, the translation is not perfect!
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How Do You Pay in Mexico?
This is a common question for anyone who has never been to Mexico, and it usually brings up more questions like:
Do I need cash? Can I pay by card?
Based on my experience, the best approach is to use both options. Today, Mexico is quite developed when it comes to technology. It’s not like Iceland, where 99% of payments are done by card, but it’s becoming increasingly common to use a card in restaurants, shops, and stores.
That said, to pay at local markets or street food stalls, you’ll need to have some cash on hand.
That’s why I suggest using both payment methods, cash and card. Another payment method that’s becoming more popular in Mexico is paying through Apps, especially for transportation like buses and taxis, as well as for accommodation.
To summarize:
- Most restaurants, big shops, and retail stores = card (always pay in pesos, not in your home currency)
- Daily shops, local markets, street food = cash
- Taxis, accommodation, bus tickets, or other transport = better with Apps if available. If not, you can use more traditional payment methods, depending on the provider.
P.S.: Once you’re in Mexico, you’ll see that bank transfers are also a common way to pay, specifically through what’s called SPEI (an instant transfer system).
However, this is only an option if you have a Mexican bank account, as the transfers are immediate.
Is It Better to Withdraw Money or Exchange Cash in Mexico?
This question depends on one main factor: how long you’ll be staying in Mexico.
If your trip is short, you might prefer to bring cash and exchange it once you arrive in Mexico to avoid unexpected fees from your bank.
And yes, changing your money after arrival is usually cheaper than exchanging it in your home country before the trip.
That said, this isn’t what I usually do, and it’s not what I would recommend.
First of all, it’s not guaranteed that exchange rates will be better than the fees you might pay when withdrawing money from an ATM in Mexico.
Secondly, it’s generally not advisable to carry a lot of cash with you, whether in Mexico or in most of the countries I’ve visited. The risk of theft, no matter where you are, is higher when you’re carrying large amounts of cash.
Thirdly, Mexico has a well-developed banking network. You’ll find ATMs just about everywhere, so withdrawing money is convenient and easy.
In my opinion, it’s always better to withdraw cash from ATMs. It gives you more control over your spending, it’s safer, and without a doubt, much more convenient.
If you still want to exchange cash when you arrive, I recommend avoiding airport exchange counters, as they usually charge the highest fees. Also, never exchange money on the street, because at best, you might get scammed with fake bills, and at worst, you could get robbed and end up with nothing.
Are ATMs Safe in Mexico?
In general, my impression during my trip was that ATMs in Mexico are pretty much the same as the ones you’ll find in your home country or anywhere else.
When it comes to safety, it mostly depends on you, where you withdraw money, and, honestly, a bit of luck.
Why do I say luck?
Before traveling to Mexico, I read some blog posts from travelers warning about card cloning.
But think about it for a second. This can happen in any country. If you’re thinking the same as me, then you’ll agree that ATMs in Mexico are about as risky as those in Italy or the United States.
Honestly, you shouldn’t have any issues, and if you follow the tips I’ll share below (which apply in any country), you should be just fine:
- Withdraw money in busy, well-populated areas, not in isolated spots (to avoid theft or assault).
- It’s better to withdraw money during the day rather than at night.
- Avoid ATMs with no clear bank branding, especially those in malls or stations, as they usually charge higher withdrawal fees.
- It’s safer to withdraw from an ATM inside a bank while it’s open, so you can get help quickly if needed.
- Make sure your card is enabled for international withdrawals. Check your bank app or ask your bank directly.
- If your bank app allows it and you want to be extra careful, you can temporarily block your card after each withdrawal to prevent unauthorized charges or card cloning.
Mexico is a beautiful country, and most people are very kind. Yes, the country has its challenges, but it’s far from the nightmare portrayed in the news.
Grab your new travel sticker below and let the adventure begin!
How Much Are ATM Fees in Mexico?
Do ATMs charge withdrawal fees, or is it free?
Unfortunately, during my (our) four-month trip through Mexico, I noticed that all banks charge a fee when withdrawing cash with a foreign card, and each bank charges a different amount.
From my experience, the fees ranged from around 30 pesos up to an outrageous 200 pesos.
That’s a real shock for any traveler or tourist.
Which ATMs in Mexico Have the Lowest Fees?
Here’s my personal ranking of the best banks to withdraw cash from in Mexico, based on my experience up to mid-2025.
I’ve tried withdrawing from many different banks to test them out (though not all of them), but in some cases, the fees were just way too high, like with BBVA, for example.
During my trip, I used Wise, Revolut, and N26 cards (yes, all three! 😉), and I noticed that the fees changed depending on the bank and the card I used.
Crazy, right? So take this list as a helpful reference guide for your trip:
- Banamex: 30.74 pesos
- Citibanamex: 30.74 pesos
- HSBC: 35.84 pesos
- Banorte: 58 pesos
- BanBajío: around 70 pesos
- Scotiabank: around 70 pesos
- Santander: over 100 pesos, depending on the card
- BBVA: nearly 200 pesos
As you can see, for me (using my cards), the best options were Banamex and Citibanamex. I ended up withdrawing from them most of the time since they have great ATM coverage throughout the country.
Even though they have similar names (and I believe they were the same company until 2024), these two banks are now separate entities at the corporate level.
Still, don’t worry if you mix them up; they use the same ATM network and, for now, charge the same withdrawal fees.
If you’re reading this and want to contribute more info to help fellow travelers, feel free to message me.
Our Tip: Wise is a great card when you are travelling to a country with a different currency than yours like Mexico. We use this online bank during our trips and we never had problems, even in remote places around the world.
How Can You Avoid ATM Fees in Mexico?
The only way to avoid ATM fees in Mexico completely is a mix of coincidence and a bit of luck.
Let me explain. In Mexico, there are branches of international banks (like Santander, BBVA, HSBC, Scotiabank, and Citibanamex, just to name a few) where, in some cases, you can withdraw money without paying any fees, but only if you already have an account with one of those banks in your home country.
It depends on your specific banking contract, so if you’re a client of any of these banks and you’re traveling to Mexico, it might just be your lucky day.
Another way to reduce fees (at least from your bank, especially if they usually charge for withdrawals and currency conversion) is to use online banking cards like Revolut, Wise, or N26. These services usually offer better exchange rates and, depending on your plan, allow free withdrawals up to a certain limit.
As I mentioned earlier, I use all three cards when I travel (and now even in my daily life). With the standard plan, I can withdraw up to 200 euros for free with both Revolut and Wise. With N26, I only get that benefit in Europe.
Still, all three offer great exchange rates, and by combining my cards with the three cards Simo uses, we have a pretty solid monthly allowance for cash withdrawals with very low fees.
I highly recommend getting one of these cards for your next trip, whichever one suits you best.
Their apps make it super easy to track spending, and, if needed, you can freeze your card with just one click.
If you’d like more tips, feel free to message me.
FINAL THOUGHTS ABOUT ATMs IN MEXICO
I hope I’ve helped clear up any remaining doubts you had about using ATMs in Mexico, how to pay, and where to find the lowest withdrawal fees.
I really hope this article has been useful for your next trip to Mexico. We always try to share our real travel experience, and we write these posts because we truly believe in this project.
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Hope to see you around again soon.
Until next time…
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