New Cash Deposit and Withdrawal Requirement in Mexico Starting July 2026
Banks in Mexico will implement a new requirement for cash deposits and withdrawals starting July 1, 2026. The measure, announced by the Association of Banks of Mexico (ABM), establishes that transactions of 140,000 pesos or more must be conducted using a valid official ID.
The objective is to strengthen controls to prevent money laundering, combat financial fraud, and reinforce identification mechanisms for users conducting high-value transactions.
What is the new requirement for depositing cash?
Starting July 1, individuals making cash transactions of 140,000 pesos or more in a single operation must verify their identity before completing the transaction. To do this, it will be necessary to present a valid official ID, such as:
- Voting credential (INE).
- Valid Mexican passport.
- Other official identifications accepted by each banking institution.
The ABM explained that this provision is part of an update to the regulatory framework to strengthen the supervision of cash transactions.
What banking operations will require an official ID?
The requirement will not apply to all transactions. It will only be mandatory when the amount is equal to or greater than 140,000 pesos. The covered cases are:
- Cash deposits made at the teller window.
- Cash withdrawals made at the teller window.
- Banking operations equal to or greater than 140,000 pesos in a single transaction.
Transactions for lower amounts will continue under current rules, so most customers will not see changes in their daily banking activities.
Will banks be able to request biometric data?
In addition to official identification, some financial institutions may request the validation of biometric data, such as fingerprints or facial recognition. The application of this procedure will depend on the technological infrastructure and security protocols implemented by each bank to verify their customers’ identity.
Other changes in the banking system during 2026
The ABM also reminded customers that other modifications related to the financial system remain in effect. Among them is the adjustment to the Income Tax (ISR) retention rate applicable to interest earned on bank savings, which increased from 0.5% to 0.9% effective January 1, 2026. The Government of Mexico specified that this change corresponds to an update in the withholding rate and does not represent an increase in the tax rate itself.
What will change for international transfers?
The Association of Banks of Mexico reported that, starting June 30, 2027, international transfers sent or received by individuals can only be made between bank accounts. When a cash payment is involved in this type of operation, it will be mandatory to present an official ID and provide biometric data to validate the user’s identity.
Additionally, the new regulations establish limits for cash remittances:
- Up to 350 dollars per shipment.
- A maximum of 900 dollars per month per recipient.
The ABM noted that these measures seek to strengthen compliance with international standards regarding money laundering prevention and to reinforce the security of financial operations conducted in Mexico.
Source: debate
