Where should I setup a bank account in Merida?

We asked expats in Merida what banks they use and there advice about banking. They advised...

"Before retiring in Merida, expats should be aware that the city is very different from many other places popular with retirees. It is important to ensure that one's current passport and visa are in order, as the Mexican government sets strict requirements for expats. Additionally, healthcare in Merida is different than that found in more developed countries, so expats should research and familiarize themselves with their medical care options in their new home. An average budget should also be created before the move to cover relocation expenses, rent and the cost of living. Finally, it is important to learn the basics of Spanish, both to communicate more easily with the locals and also to be able to read warning signs, understand directions, and access local services in the language," remarked another expat in Merida, Mexico.

"As far as I know, there is no "expat-focused" bank here. Banamex is owned by Citibank, and many of the other banks are owned by US banks. We have accounts at Banamex and Inbursa (a Mexican bank owned by Carlos Slim, the richest man in Mexico and the owner of Telmex, among other things). We used to have an account at Scotiabank but found them too old-fashioned and slow. Even so, Banamex's online banking can be terrifically confusing. But at least its there," said a member in Merida, Mexico.

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