Mexico Banking Rules Have Changed: What Expats Must Know in 2026


Relocation expert Dez Kjolseth, founder of My Deztination, joined Brent and Jessy live on Asphalt Radio from Mexico City to break down the real challenges and hidden rule changes affecting expats planning a move.

👉 Watch the full Asphalt Radio segment here



“Just show up and figure it out” doesn’t work anymore

In the past, moving to Mexico was a bit of a freestyle. People came down on a tourist visa, rented a place, and figured out the rest as they went.

But now?

The rules have changed. And guessing your way through the process could cost you months of stress, missed deadlines, and thousands of dollars in lost opportunity.


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Dez live on Asphalt Radio sharing tips and information about banking in Mexico

What You’ll Learn in This Episode

Dez gets into the real-life logistics most people don’t Google until it’s too late:

1. You now need an RFC (Mexican tax ID) to open a bank account

Even if your income is foreign-sourced, banks in Mexico now require an RFC to open an account. That means most new residents need to:

  • Register with SAT (Mexico’s tax authority)

  • Choose the correct tax regime

  • Get expert help to avoid registration mistakes that can haunt you later

2. Banking is more complicated for foreigners

Some banks now require a proof of tax registration, an updated CURP, or even e.firma (Mexican digital signature). These steps may sound small but without them, you can’t:

3. Shipping items without a Menaje de Casa is risky

Thinking of sending your belongings to Mexico?
There’s a catch.

If you don’t apply for a Menaje de Casa (official household goods exemption), you could:

  • Pay thousands in import taxes

  • Have your items confiscated

  • Lose the right to bring your items duty-free once your visa is processed

Important: You can only claim this benefit once, and only before you finalize residency at immigration.

4. Planning 6–12 months ahead is the new normal

With longer consulate wait times, stricter bank documentation, and limited SAT appointment availability, last-minute relocations are no longer realistic.

You now need to:

5. The right help makes the difference

The truth is, Mexico still welcomes expats but the systems now expect you to come prepared. And while relocation still opens the door to more freedom, it also demands more structure, strategy, and support.

Whether you’re moving as:

  • A remote worker

  • A retiree

  • A family with school-age children

  • An LGBTQ+ individual seeking safety and belonging

  • Or someone simply craving slower, saner living...

You deserve a relocation experience that’s smooth, not stressful.


a My Deztination client walks happily on the beach after relocating to Mexico

Watch the Episode

👉 Watch the full interview on YouTube


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meet dez

Dez | My Deztination

Dez is the founder of My Deztination

Mexico’s trusted relocation advisor. With over seven years living in Mexico, she knows the importance of trustworthy and professional guidance & support. She specializes in personalized consultations, private neighborhood tours, and full-service relocation packages to help clients move to Mexico the easy way.

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Frequently Asked Questions

What is an RFC and do I need one?

An RFC (Registro Federal de Contribuyentes) is your Mexican tax ID. It’s now required for opening most bank accounts, even for expats with foreign income.

Can I still bring my furniture and personal items to Mexico?

Yes—but only tax-free if you apply for a Menaje de Casa before finalizing your immigration process. This is a one-time exemption for new residents.

How far ahead should I start planning my move?

We recommend starting 6–12 months before your target relocation date. This allows time to secure residency appointments, banking setup, and customs strategy.

What if I already live in Mexico on a tourist visa?

You’ll need to leave and re-enter via a consulate appointment to apply for Temporary Residency. Tourist visas do not allow banking, long-term rent, or work.

How can My Deztination help me?

We provide complete relocation support: strategy calls, neighborhood tours, RFC help, banking referrals, customs guidance, and emotional support along the way.

Expert relocation advice • Reviewed regularly • Last updated: January 2026

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