Do you need to exchange your dollars for pesos? There are multiple options offering this service, although exchange rates and fees can vary. Some are not very secure, especially if you’re a tourist visiting the country for the first time.

That’s why today we’re focusing on one of the most trusted and popular alternatives among users: financial institutions.

In Mexico, the list of financial institutions is quite long, but not all allow the purchase or sale of foreign currencies. We’ve compiled a short list of 4 banks where you can exchange dollars to pesos at a fair exchange rate. We’ll also give you some alternatives.

In Which Mexican Banks Can You Exchange Dollars to Pesos in 2025?

Banks to Exchange Dollars for Pesos

While you have different ways to buy or sell dollars in Mexico, banks are one of the safest options.

First, it’s worth noting that Banxico, the central bank, is responsible for regulating the country’s monetary policy. This includes the daily publication of the exchange rate of the U.S. dollar against the Mexican peso.

Now, which banks exchange dollars in Mexico?

Several institutions offer this service, including:

Banco BBVA

BBVA México is among the banking entities that allow currency exchange through their physical branches.

Of course, you must have an active peso account to perform the transaction at the counter. It’s also possible via online banking or the app if you want to maintain your dollars in a digital form.

It’s important to note that BBVA’s policies for exchanging dollars to pesos may vary depending on the account type and the customer’s profile. Still, you can check their financial information online to see the real-time dollar price.

Banco Azteca

Banco Azteca is a well-established institution in Mexico’s financial sector, offering various services to its customers, including buying and selling foreign currencies in cash through its multiple centers.

As a customer, you can exchange up to 4,000 USD per month and enjoy theft insurance of up to 7,500 MXN, in case something happens within the first 5 hours after the exchange at the counter.

The bank offers a preferential exchange rate and gives you the option to deposit your MXN into your bank account.

Not a customer?

You can exchange up to 300 USD per day, 1,500 USD per month. Just present a valid and legitimate ID.

If you want to see today’s Banco Azteca dollar price, visit their website and use the converter.

Banamex

Banamex is one of the oldest and most prominent financial institutions in the country. As expected, it has multiple branches where you can exchange dollars to pesos.

Exchange rates are updated daily and available on their website. Thus, you can always check today’s dollar buy and sell prices, along with other financial details.

Additionally, you have access to a calculator to estimate how much money you’ll receive at the counter. So, use it before exchanging dollars at Banamex.

Banco Santander

Over the years, Banco Santander has strengthened its presence in the Mexican market. Today, it has over 1,000 offices distributed throughout the country, offering the same financial services it’s known for, including buying and selling dollars.

If you want this service, just go to the nearest branch to sell your dollars. Like the other institutions, the exchange rate updates constantly according to market conditions.

However, you can use their currency converter to get an idea of what you’ll get at the counter.

Alternatives to Banks for Exchanging Dollars to Pesos

As mentioned, there are other options available to convert your dollars to pesos, including:

Airports

Airports are always an alternative, especially if you need to make the transaction urgently. Here you’ll find exchange houses, ATMs, and even bank branches available at all times.

The Mexico City International Airport (AICM) is often a convenient choice to convert USD to MXN. But keep in mind that the rates might not be as favorable as those in the city.

Currency Exchange Houses

There are plenty of currency exchange houses in Monterrey and other parts of the country where you can sell your foreign currencies. Some even offer more favorable exchange rates compared to banks or airports.

The process is usually quick and lets you get cash immediately. However, it’s important to choose well-known centers to avoid issues.

Fortunately, in Mexico, you have several reliable options. Western Union, for instance, operates as an alternative to traditional exchange houses. Still, you should pay attention to the details regarding today’s dollar price.

ATMs

Another practical and secure way to convert dollars to Mexican pesos is by using ATMs. This is ideal if you don’t have nearby exchange houses and need pesos in cash immediately.

Many ATMs allow you to withdraw MXN from USD bank accounts. Of course, the issuing bank’s exchange rate usually applies, and often a small foreign exchange conversion fee.

You just need to ensure that your card is enabled, check the fees, and verify daily withdrawal limits.

On the other hand, there are other ways to get pesos for your dollars besides banks and traditional options. For example, companies that let you manage your money electronically, like Wise or DolarApp.

Such platforms simplify the process since you only need to access the mobile app or a website. Moreover, many of them offer cards for use abroad, such as DolarApp.

DolarApp: Convert Digital Dollars to Pesos in Seconds

More than just a mobile application, DolarApp is a digital wallet where you can keep your money in USDc.

All it takes is a few steps to activate a digital dollar account and link your Mexican peso bank account. This way, you can convert USDc to MXN like any other transfer.

The main advantage is that you won’t have to handle cash or go anywhere—you can do it in seconds from the app.

Plus, you can see the real-time digital dollar price from the app and check today’s buy and sell rates.