As of July 1, 2026, new rules for large cash transactions come into force in Mexico. Banks will have the right — but in fact the duty — require not only official identification, but also biometric identification when depositing or withdrawing cash in excess of P140,000. The new requirement is aimed at combating fraud, money laundering and the use of cash in illegal schemes. However, we are not talking about banning cash as such — they remain legal tender. It is control that is being strengthened.
For most bank clients, biometrics — not an innovation. Almost all major banks in Mexico have for many years taken fingerprints, facial photo or other biometric data when opening an account or updating a customer profile. The new rule changes something else: biometric verification will be required not just once, but for each transaction with a large amount of cash, if it is carried out through a bank cash desk. We are talking about such transactions as withdrawing or depositing cash in excess of 140,000 pesos. The guidelines for banks do not specify whether this is a one-time amount, per day or per month. If the client is not able to confirm his identity, the operation simply will not be carried out.
Specific processes may vary from bank to bank, but in general banks will ask for:
- valid official photo ID (INE or passport),
- reconciliation of client data with the bank questionnaire,
- biometric identification: fingerprints, facial recognition or other methods already used by the bank.
In other words, banks will check the person who comes with cash with the one who is officially registered in the system. For this reason, it is better to carry out large cash transactions at the bank where you have an account and where your biometric and identification data is already stored.
Attempting to deposit or purchase a significant amount of cash from «someone else» a bank where you are not a client may result in a refusal from July 2026, even if you have documents. The bank will simply have nothing to compare your data with.
If a customer attempts to withdraw or deposit more than 140,000 pesos and is not eligible for identification, the bank must:
- refuse to carry out the operation,
- record the operation as incomplete,
- offer to come back later with identification.
For this reason, it is a good idea to make sure now that your bank information is up to date, notify the bank in advance of planned withdrawals of large amounts, and use electronic transfers instead of cash transactions.