OCTIS vs BBVA, Santander, Banorte and Mercado Pago: business accounts in Mexico
Three big banks with monthly fees and balance rules, and one free account tied to card sales.
Last checked · 6 sources
Otty's short answer
Mercado Pago Cuenta Negocio is free but only opens for businesses billing at least MX$100,000 a month through Mercado Pago. Among the banks, a third-party comparison reports Banorte at MX$200 per month, Santander at MX$520, and BBVA at nothing if you keep MX$12,000 in the account. Confirm on each bank's tariff. Take a bank if you need cheques, branches and credit. Take Mercado Pago if your sales already run through it.
Side by side
Swipe to see every column
| What matters | OCTISHong Kong company + OCTIS global plan | BBVA Maestra PyME | Santander PyME | Banorte | Mercado Pago Cuenta Negocio |
|---|---|---|---|---|---|
| Monthly account fee | Set by our licensed partner; quoted before you commit | None with balance (reported) | MX$520 per month (reported) | MX$200 per month (reported) | MX$0 |
| Minimum balance rule | Set by our licensed partner; quoted before you commit | MX$12,000, else MX$450 (reported) | Unclear in source | MX$0 | Not published |
| Opening deposit | Set by our licensed partner; quoted before you commit | Unclear in source | Not published | MX$10,000 (reported) | Not published |
| SPEI transfer fee | Collecting and sending payments via licensed partners | MX$5 (reported) | MX$100 (reported) | MX$110 (reported) | Not published |
| Cheque fee | Not an OCTIS product | MX$18 (reported) | MX$18 (reported) | Not published | Not published |
| Card replacement | Set by our licensed partner; quoted before you commit | MX$150 (reported) | Not published | Not published | Not published |
| Who can open | Hong Kong company; director and shareholder can live anywhere | Companies and sole traders | Companies and sole traders | Companies | Billing MX$100,000+ monthly |
| Company papers needed | OCTIS arranges the incorporation at least 10% below any qualifying quote (Lowest Price Guarantee) | Deed, powers, RFC | Deed, powers, RFC | Deed, ID, address | Business profile in app |
| Branch network | OCTIS is not a bank; accounts and cards come via licensed partners | Yes | Yes | Yes | No, app and network |
| Card terminal terms | Not an OCTIS product | Separate product | Separate product | Separate product | Better rates with volume |
| Foreign-owned company | Yes, 100% foreign ownership allowed | Check with bank | Check with bank | Check with bank | Not published |
If you have staff, premises or local sales in this country, its own registration and tax rules still apply. OCTIS can help you arrange them.
Data sources & disclaimer: Comparison data was compiled from publicly available sources — including the competitors' own published pricing and feature pages — captured on 9 November 2026. Figures reflect the typical or advertised pricing at that time and may have changed since; plans, inclusions and prices vary by provider, region and promotion. OCTIS is independent and not affiliated with the named companies; all trademarks belong to their respective owners. This comparison is provided in good faith for general information only and is not professional, legal or financial advice — please verify current details with each provider before deciding.
Which one fits you
OCTIS · Hong Kong company + OCTIS global plan
Choose OCTIS if you sell in several countries and want a Hong Kong company with multi-currency banking via licensed partners.
BBVA Maestra PyME
Choose BBVA Maestra PyME if you can keep MX$12,000 in the account and want low transfer fees and a branch network.
Santander PyME
Choose Santander PyME if you already bank there for credit and accept a flat monthly fee.
Banorte
Choose Banorte if you want no minimum balance and are fine with the reported MX$200 fee and MX$10,000 opening deposit.
Mercado Pago Cuenta Negocio
Choose Mercado Pago if most of your sales run through its terminals or Mercado Libre and you bill above MX$100,000 a month.
What the table does not show
Where the bank figures come from
Bank fee tables change and several are hard to find. The bank numbers above are reported by a Rankia México comparison updated on 24 February 2026, and we could not confirm them on the banks' own pages (BBVA's product page shows no fees). The source is inconsistent on BBVA's opening deposit, so we show it as unclear. Where the source did not list a fee, we write Not published. Check each bank's current tariff before you sign.
Mercado Pago Cuenta Negocio
Mercado Pago launched Cuenta Negocio in August 2026 as a free account for companies and sole traders. To qualify you need monthly billing of at least MX$100,000 and a business profile in the app, through a Point terminal, payment processor or sales on Mercado Libre. It lists free cash deposits and withdrawals in its network and better terminal rates as volume grows. It does not publish a yield or its regulator in the launch article.
What a new company needs to open any account
Banks ask for the constitutive deed, current statutes, the legal representatives' powers, proof of address and the RFC registration. A company still on its first day cannot open an account until it has an RFC. A foreign-owned company should ask each bank for its list, since Citibanamex, for example, asks for an apostilled deed and consular declaration for foreign companies.
Where OCTIS fits
OCTIS does not open or hold accounts in Mexico, and it has no tie to any of these providers. If your Malaysian or Hong Kong company has a Mexican subsidiary, the statements from whichever account you pick still need to be reconciled into the group's books. OCTIS bookkeeping can work from those statements. Ask about 10–30% off your current bill.
Frequently asked questions
What is the cheapest business bank account in Mexico?
Mercado Pago Cuenta Negocio has no monthly fee, but it is limited to businesses billing MX$100,000 or more per month. Among banks in our source, BBVA Maestra PyME is reported at no fee while you keep MX$12,000, and Banorte at MX$200 per month. Neither figure is confirmed on the bank's own page.
Can a new SAS or SA de CV open an account right away?
Banks ask for the deed, powers, proof of address and RFC registration, so you need an RFC first. Banks may also ask for more, such as an opening deposit. Banorte is reported at MX$10,000 in our source. Confirm with the branch.
Does Mercado Pago accept personas morales?
Yes. The launch article says Cuenta Negocio is for companies and for individuals with business activity, as long as they bill at least MX$100,000 per month and have a business profile in the app.
Do Mexican business accounts pay interest?
Our sources list no yield for any of the four accounts. The Mercado Pago launch article states none. Ask each provider for the current rate on balances before you treat an account as a place to hold surplus cash.
Sources
Checked on the date above. Links open the provider's or regulator's own page.