There is a common place that travelers from all over the world visiting any part of the world are always on the look for; the ATM. Thanks to the bank system, nowadays is possible for you to travel without carrying large amounts of money but at the same time knowing that cash can be available at any time so you can use it as you feel necessary.
In Mexico, ATMs offer many services but the two more popular are the withdrawal of cash and the possibility to check your accounts balance. But, they can also be used for other transactions such as payment of services and to purchase cellphone air time (credit paid in advance for your Mexican cellphone).
To make their usage easier, ATMs in Mexico can be used by different banks or bank cards (not just the financial institution that is endorsing the machine) The VISA and Mastercard companies carry most of the transactions and serve as international connections between banks and they are in charge of moving and distributing the money to the different banks.
Unless that you have an account with the bank clearly marked on the ATM, every withdrawal transaction will generate a fee, the amount of this fee varies depending on the financial institution but it has to be clearly established on the transaction BEFORE is charged, or before you finish your transaction.
The maximum amount of money that you can withdraw from a Mexican ATM varies from $3000 to $5000 pesos ( $240 USD to $400 USD ) If you need a larger amount is recommended for you to talk to a teller in the bank.
If you have any question about the banking system in Mexico please contact us.