New Cash Transaction Rules Take Effect in Mexico Starting July 1

Mexico City — Banks in Mexico will begin requiring official identification for large cash deposits and withdrawals starting July 1, 2026, as part of a new measure aimed at strengthening financial security and anti-money-laundering controls.

The requirement applies to cash transactions of 140,000 pesos or more made at bank branches. The rule covers both deposits and withdrawals, but does not apply to ordinary smaller transactions, routine ATM withdrawals, card payments, electronic transfers, or everyday account activity.

The measure was announced by the Asociación de Bancos de México, or ABM, which said the goal is to reduce fraud, identity theft, and the use of the banking system for illicit financial activity.

Under the new procedure, customers who want to deposit or withdraw 140,000 pesos or more in cash will be asked to present a valid government-issued ID, such as an INE voter credential or passport. Banks may also use additional verification tools, including biometric checks, depending on each institution’s systems.

If the customer does not present valid identification, if the ID is expired, or if the information does not match the bank’s records, the transaction may be denied.

The banking association said the change is intended to standardize procedures across financial institutions. Some banks already request identification for certain high-value cash transactions, but the new measure is expected to make the process more consistent nationwide.

The rule also responds to broader concerns about financial crime. Large cash movements are considered higher risk because they can be used to disguise the origin of funds, move money for criminal groups, or commit fraud using another person’s account or identity.

Banks will be expected to keep a record of these transactions in their auditable systems, creating a clearer trail for compliance and oversight.

For most bank customers, the practical impact will be limited. The new requirement is aimed specifically at large cash deposits and withdrawals made in person at bank branches. Anyone planning to move 140,000 pesos or more in cash should bring valid official identification and check with their bank in advance, especially if the transaction is unusual for the account.

The change does not prohibit large cash transactions. It does mean banks will apply tighter verification before processing them.