Country hub / Mexico
Financial apps and digital money services in Mexico.
Seven approved records cover two direct banks, three SOFIPOs and two electronic-payment or transfer models. The institution type and exact product determine which protection ceiling applies.
Direct answer
Ualá and Revolut use the bank route; Nu, Klar and Stori remain SOFIPOs.
Eligible deposits at Ualá or Revolut can enter IPAB's 400,000-UDI bank framework. Eligible deposits at Nu México Financiera, Klar or Stori instead aggregate under the SOFIPO fund's 25,000-UDI ceiling.
Mercado Pago Wallet and Wise use IFPE or payment-transfer structures, not bank deposits. CNBV supervision, SPEI access or a processing-bank name does not convert electronic-payment funds into IPAB deposits.
Product classification
Bank, SOFIPO and IFPE are not interchangeable labels.
Resolve the legal institution before comparing rates, cards or app convenience.
Multiple bank
Eligible deposits can use IPAB up to 400,000 UDIs per person and bank.
SOFIPO
Eligible deposits use the separate 25,000-UDI savings-protection fund.
IFPE
Electronic-payment funds follow Fintech Law treatment and are not IPAB deposits.
Investment or credit
Shares, credit, rewards and other products keep separate risk and contract terms.
Verified MX comparison
Change the job, not the evidence.
These controls only reorder approved market records. Legal entity, product class, protection wording, source date and confidence stay fixed.
Bank deposits: Prioritises eligible deposits at Mexican multiple banks and IPAB aggregation.
| Provider | Product type | Market status | Legal entity | Protection model | Evidence | Compare |
|---|---|---|---|---|---|---|
| UaláA direct Mexican bank deposit, debit card, transfers and separately governed credit or investing. | mexican multiple bank digital deposit account | available with identity acceptance account rate and product conditions | Ualá, S.A., Institución de Banca Múltiple | Eligible deposits aggregate at Ualá bank under IPAB's 400,000-UDI limit.IPAB does not automatically cover shares, rewards, credit or every investment shown in the bank app; promotional yields have caps and activity conditions. | 4 source records | |
| RevolutA Mexican bank account with deposit, card, currency and plan-specific features. | mexican multiple bank digital deposit account | available with residency identity acceptance plan and product conditions | Revolut Bank, S.A., Institución de Banca Múltiple | Eligible Revolut Bank Mexico deposits aggregate under IPAB's 400,000-UDI limit.Plans, cards, exchange, trading and promotions retain separate fees and terms; a stale global help article does not override current Mexican bank documents. | 4 source records | |
| NubankA current SOFIPO demand-deposit account with savings boxes and separately governed credit. | mexican sofipo demand deposit account | available under current sofipo contract with identity account and product conditions | Nu México Financiera, S.A. de C.V., Sociedad Financiera Popular | Eligible deposits aggregate at Nu México under the 25,000-UDI SOFIPO fund limit.The live published contract is still with Nu México Financiera SFP; do not apply a future bank licence or 400,000-UDI IPAB limit before migration terms take effect. | 4 source records | |
| KlarA SOFIPO demand account and separate flexible or fixed saving products with segment-specific terms. | mexican sofipo demand and term deposit platform | available with identity account segment deposit and product conditions | Klar Technologies, S.A. de C.V., Sociedad Financiera Popular | Eligible Klar deposits aggregate under the 25,000-UDI SOFIPO fund limit.The limit is per person at Klar, not per Cuenta, Apartado or Inversión; tiers, rates, cards and credit remain separate. | 4 source records | |
| StoriA SOFIPO demand deposit through Cuenta+ and separately contracted fixed-term deposits. | mexican sofipo demand and term deposit platform | available with identity account level deposit and product conditions | Stori México, S.A. de C.V., Sociedad Financiera Popular | Eligible Stori Cuenta+ and Inversión+ deposits share the 25,000-UDI limit at Stori.Account levels, deposit caps, maturity, rates, replacement-card fees and credit products retain separate terms. | 5 source records | |
| Mercado PagoAn IFPE wallet for payments, SPEI funding and merchant workflows under separate group services. | mexican electronic payment funds institution wallet | available with identity wallet merchant credit and product conditions | Mercadolibre, S.A. de C.V., Institución de Fondos de Pago Electrónico for Wallet | Wallet money is electronic payment funds under the Fintech Law, not an IPAB bank deposit.Merchant aggregation, Wallet, credit and promoted returns can use different group entities or contracts and must not be merged. | 3 source records | |
| WiseConditional MXN and international money transfers with route-specific currency conversion. | mexican electronic payment and money transfer platform | available with identity citizenship currency route and entity conditions | Wise Pagos México, S.A. de C.V., Institución de Fondos de Pago Electrónico for cited local services; another Wise group entity may apply to non-MXN routes | Wise Pagos México is an IFPE for cited local services rather than a deposit-taking bank.Another Wise entity can apply to non-MXN routes, J.P. Morgan processing does not create a customer bank deposit, and IPAB does not attach to the Wise balance. | 4 source records |
Ualá
mexican multiple bank digital deposit account- Market status
- available with identity acceptance account rate and product conditions
- Legal entity
- Ualá, S.A., Institución de Banca Múltiple
- Product note
- Ualá issues the cited demand deposit directly as a Mexican bank. Eligible deposits aggregate under IPAB's 400,000-UDI limit; cards, credit, equities, rewards and promotional rates retain separate terms.
- Protection model
- Eligible deposits aggregate at Ualá bank under IPAB's 400,000-UDI limit.IPAB does not automatically cover shares, rewards, credit or every investment shown in the bank app; promotional yields have caps and activity conditions.
View legal and product sources
Revolut
mexican multiple bank digital deposit account- Market status
- available with residency identity acceptance plan and product conditions
- Legal entity
- Revolut Bank, S.A., Institución de Banca Múltiple
- Product note
- Revolut Bank Mexico publishes personal account, plan, fee and IPAB materials and appears in current CNBV bank capital reporting. Eligible deposit products aggregate under IPAB; plans, cards, investments and promotions remain separate.
- Protection model
- Eligible Revolut Bank Mexico deposits aggregate under IPAB's 400,000-UDI limit.Plans, cards, exchange, trading and promotions retain separate fees and terms; a stale global help article does not override current Mexican bank documents.
View legal and product sources
Nubank
mexican sofipo demand deposit account- Market status
- available under current sofipo contract with identity account and product conditions
- Legal entity
- Nu México Financiera, S.A. de C.V., Sociedad Financiera Popular
- Product note
- Nu's current published account contract remains a SOFIPO demand-deposit contract. Eligible deposits aggregate at Nu under the 25,000-UDI SOFIPO protection limit; credit and any future bank migration require separate terms.
- Protection model
- Eligible deposits aggregate at Nu México under the 25,000-UDI SOFIPO fund limit.The live published contract is still with Nu México Financiera SFP; do not apply a future bank licence or 400,000-UDI IPAB limit before migration terms take effect.
View legal and product sources
Klar
mexican sofipo demand and term deposit platform- Market status
- available with identity account segment deposit and product conditions
- Legal entity
- Klar Technologies, S.A. de C.V., Sociedad Financiera Popular
- Product note
- Klar provides SOFIPO demand and term deposits. Eligible deposits aggregate at Klar under the 25,000-UDI protection limit; account tiers, rates, cards and credit retain separate conditions.
- Protection model
- Eligible Klar deposits aggregate under the 25,000-UDI SOFIPO fund limit.The limit is per person at Klar, not per Cuenta, Apartado or Inversión; tiers, rates, cards and credit remain separate.
View legal and product sources
Stori
mexican sofipo demand and term deposit platform- Market status
- available with identity account level deposit and product conditions
- Legal entity
- Stori México, S.A. de C.V., Sociedad Financiera Popular
- Product note
- Stori Cuenta+ demand and term deposits are issued by Stori México SFP and aggregate under the 25,000-UDI protection limit. Account levels, rates, cards and credit remain separate.
- Protection model
- Eligible Stori Cuenta+ and Inversión+ deposits share the 25,000-UDI limit at Stori.Account levels, deposit caps, maturity, rates, replacement-card fees and credit products retain separate terms.
View legal and product sources
Mercado Pago
mexican electronic payment funds institution wallet- Market status
- available with identity wallet merchant credit and product conditions
- Legal entity
- Mercadolibre, S.A. de C.V., Institución de Fondos de Pago Electrónico for Wallet
- Product note
- Mercado Pago Wallet is an IFPE electronic-payment-funds account, not a bank deposit and not IPAB-covered. Merchant aggregation, credit, cards and promoted returns use separate entities or terms.
- Protection model
- Wallet money is electronic payment funds under the Fintech Law, not an IPAB bank deposit.Merchant aggregation, Wallet, credit and promoted returns can use different group entities or contracts and must not be merged.
View legal and product sources
Wise
mexican electronic payment and money transfer platform- Market status
- available with identity citizenship currency route and entity conditions
- Legal entity
- Wise Pagos México, S.A. de C.V., Institución de Fondos de Pago Electrónico for cited local services; another Wise group entity may apply to non-MXN routes
- Product note
- Wise's current Mexico disclosures identify a local IFPE and conditional MXN transfer and balance functions. It is not a bank; electronic payment funds and cross-border services do not receive IPAB coverage merely because a bank processes a transfer.
- Protection model
- Wise Pagos México is an IFPE for cited local services rather than a deposit-taking bank.Another Wise entity can apply to non-MXN routes, J.P. Morgan processing does not create a customer bank deposit, and IPAB does not attach to the Wise balance.
View legal and product sources
0 selected locally.No matching comparison is published
Protection boundary
400,000 and 25,000 UDIs belong to different institution types.
IPAB's bank ceiling follows the person and exact bank. Ualá and Revolut eligible deposits therefore aggregate within each bank relationship. It does not attach to equities, credit, rewards or every investment in the same app.
The SOFIPO fund separately covers eligible deposits up to 25,000 UDIs per person at the same SOFIPO. Cuenta, Cajita, Apartado and Inversión screens do not multiply the ceiling. Nu's current account contract still identifies Nu México Financiera as the SOFIPO counterparty.
Mercado Pago and Wise electronic-payment funds are neither IPAB bank deposits nor SOFIPO deposits. Oversight, safeguarding duties and processing-bank arrangements remain legally distinct from deposit insurance.
Bank deposit
Confirm product eligibility and combine covered balances at the same bank.
SOFIPO deposit
Combine eligible demand and term deposits at the same SOFIPO.
IFPE funds
Read the electronic-funds custody and insolvency rules without claiming IPAB.
Adjacent product
Credit, shares, rewards and promotions retain their own contracts.
Eligibility and transition
Identity, residence, account level and live contract still control access.
Every provider can require age, CURP or RFC, INE, Mexican address, identity verification, supported device and account approval. Monthly deposit levels, term products, cards, credit and investments can require additional checks.
Nu has published future bank materials, but its current customer contract and June 2026 public explanation still identify the live account as a SOFIPO product. This page keeps that current protection model until an operative migration contract proves otherwise.
Read the evidence methodologyFee snapshot
Free opening does not make every cash, card, FX or plan action free.
Klar lists no opening, minimum-balance, bank-transfer or closure charge for the cited account. Ualá lists multiple zero-cost account functions but discloses ATM, unsuccessful-claim and conditional payroll reimbursement rules. Stori's schedule includes product-specific card and claim charges.
Revolut paid plans, cards and currency services retain separate schedules. Wise prices vary by amount and currency, starting from 1.36% only for eligible routes. Mercado Pago merchant, Wallet and credit services use separate terms. Confirm the final screen.
Payment rails
SPEI and CoDi are infrastructure, not protection badges.
Participation, direction, identifiers, device support, timing, screening, limits and fees remain provider-specific.
SPEI
Mexico market context only. Verify the exact account, provider, direction, identifier, schedule, limit and price.
CoDi
Mexico market context only. Verify the exact account, provider, direction, identifier, schedule, limit and price.
cash deposit
Mexico market context only. Verify the exact account, provider, direction, identifier, schedule, limit and price.
card
Mexico market context only. Verify the exact account, provider, direction, identifier, schedule, limit and price.
Banxico operates SPEI for fast electronic transfers and CoDi as a payment experience over SPEI. A CLABE, QR flow or participant listing does not prove bank status, IPAB eligibility or universal support. Mexico's current standardised API rules establish an open-data layer, not universal transactional-data sharing.
Source ledger
Every material Mexico claim keeps its entity, product, source and date.
Sources were observed on 12 July 2026 and require launch-time reverification.
Nubank Mexico source drawer
Nubank is displayed as mexican sofipo demand deposit account in Mexico.
- The current CNBV list includes Nu México Financiera and Klar Technologies as SOFIPOs.
- The list establishes institution type, not a future bank migration or product terms.
- Stori's exact status is corroborated by its current contract and the general PES.
- The current contract identifies Nu México Financiera as a SOFIPO and the account as a peso demand deposit.
- It states eligible deposits aggregate under the 25,000-UDI SOFIPO fund limit.
- The published contract is used instead of inferring that a future bank licence has already migrated this account.
- Nu's 2026 disclosure describes the live account as a SOFIPO product protected up to 25,000 UDIs.
- Account, savings boxes, fixed terms and credit retain separate conditions.
- Promotional rates and peso equivalents are not treated as permanent facts.
- The fund states that it can cover eligible SOFIPO savings up to 25,000 UDIs if the institution is liquidated or disappears.
- The limit is per saver at the same SOFIPO, not per app section or product screen.
- Bank deposits, IFPE funds, securities and credit are outside this SOFIPO statement.
Klar Mexico source drawer
Klar is displayed as mexican sofipo demand and term deposit platform in Mexico.
- The current CNBV list includes Nu México Financiera and Klar Technologies as SOFIPOs.
- The list establishes institution type, not a future bank migration or product terms.
- Stori's exact status is corroborated by its current contract and the general PES.
- Klar describes a SOFIPO demand account, transfers, card and separate saving products.
- It lists no opening, minimum-balance, bank-transfer or account-cancellation charge for the cited account.
- Rates vary by product and customer segment and require transaction-time confirmation.
- Klar identifies current legal and product documents and its CNBV-supervised SOFIPO status.
- Current footer disclosures identify Klar Technologies, S.A. de C.V., S.F.P.
- Credit, cards, deposits and promotions use separate contracts.
- The fund states that it can cover eligible SOFIPO savings up to 25,000 UDIs if the institution is liquidated or disappears.
- The limit is per saver at the same SOFIPO, not per app section or product screen.
- Bank deposits, IFPE funds, securities and credit are outside this SOFIPO statement.
Stori Mexico source drawer
Stori is displayed as mexican sofipo demand and term deposit platform in Mexico.
- CNBV describes the PES as the current register of supervised Mexican financial entities in operation.
- It distinguishes banks, SOFIPOs and fintech institutions and states 400,000-UDI bank and 25,000-UDI SOFIPO protection ceilings.
- A register entry does not prove product eligibility, pricing or individual acceptance.
- The contract identifies Stori México SFP and separate demand-deposit account levels.
- It states the 25,000-UDI per-person, same-institution protection boundary.
- Deposit limits, term products and electronic services retain distinct conditions.
- Stori identifies the protected Cuenta+ and Inversión+ deposit products and the 25,000-UDI limit.
- The limit aggregates a person's eligible operations at Stori.
- Excluded or unlawful operations and non-deposit products do not inherit coverage.
- The current schedule identifies deposit and electronic-service fees and product-specific charges.
- Published yields and promotions have explicit validity windows and are not permanent rankings.
- Replacement-card and unsuccessful-claim charges remain conditional.
- The fund states that it can cover eligible SOFIPO savings up to 25,000 UDIs if the institution is liquidated or disappears.
- The limit is per saver at the same SOFIPO, not per app section or product screen.
- Bank deposits, IFPE funds, securities and credit are outside this SOFIPO statement.
Ualá Mexico source drawer
Ualá is displayed as mexican multiple bank digital deposit account in Mexico.
- The current report lists Revolut Bank and Banco Ualá among Mexican multiple banks.
- Capital reporting establishes operating-bank status but not consumer product eligibility or pricing.
- Deposit coverage is verified separately against IPAB guidance and provider contracts.
- Ualá identifies Ualá, S.A., Institución de Banca Múltiple as operator of its deposit products.
- It states eligible deposit accounts are protected by IPAB up to 400,000 UDIs per person.
- Credit, investments, cards and loyalty products use separate documents.
- Ualá lists zero cost for the cited opening, maintenance, closure, transfers and card lifecycle functions.
- ATM operators and an unsuccessful unrecognised-charge claim can create separate costs.
- Payroll reimbursement and promotional rate conditions are not universal.
- CNBV states that eligible bank savings are protected by IPAB up to 400,000 UDIs.
- Coverage follows the person and bank and applies only to guaranteed obligations under law.
- SOFIPO deposits, IFPE funds, investments and credit products require different treatment.
Revolut Mexico source drawer
Revolut is displayed as mexican multiple bank digital deposit account in Mexico.
- The current report lists Revolut Bank and Banco Ualá among Mexican multiple banks.
- Capital reporting establishes operating-bank status but not consumer product eligibility or pricing.
- Deposit coverage is verified separately against IPAB guidance and provider contracts.
- The live legal hub identifies personal account, fee, product, IPAB and regulatory materials for Revolut Bank Mexico.
- Current CNBV reporting independently lists the bank in operation.
- Plans, cards, investments and promotions retain separate terms.
- Revolut states that the cited deposit product is protected by IPAB up to 400,000 UDIs per customer and institution.
- Coverage applies to eligible bank deposits, not every app feature.
- Rates, restrictions and closure conditions remain product-specific.
- The page lists Standard, Premium and Metal with different subscription and deposit-return conditions.
- Published GAT calculations and rates have dated assumptions and are not universal comparisons.
- Plan cancellation, card, ATM and exchange costs require the final schedule.
Mercado Pago Mexico source drawer
Mercado Pago is displayed as mexican electronic payment funds institution wallet in Mexico.
- CNBV describes the PES as the current register of supervised Mexican financial entities in operation.
- It distinguishes banks, SOFIPOs and fintech institutions and states 400,000-UDI bank and 25,000-UDI SOFIPO protection ceilings.
- A register entry does not prove product eligibility, pricing or individual acceptance.
- Mercado Pago identifies Mercadolibre, S.A. de C.V., IFPE as the Wallet provider and separate group entities for aggregation and credit.
- The platform name does not merge those legal services.
- Wallet, merchant, credit and card conditions remain separate.
- Mercado Pago states that its IFPE wallet funds are not bank deposits and are not covered by IPAB.
- It identifies CNBV, Banxico and SHCP oversight under the Fintech Law.
- Oversight does not create bank-deposit insurance or guarantee promoted returns.
Wise Mexico source drawer
Wise is displayed as mexican electronic payment and money transfer platform in Mexico.
- The agreement identifies Wise Pagos México for cited services and warns another Wise entity can apply to non-MXN routes.
- Fees, identity, funding, currency and transfer execution remain conditional.
- It does not describe Wise as a Mexican bank or claim IPAB protection.
- The 2026 notice identifies Wise Pagos México, S.A. de C.V., Institución de Fondos de Pago Electrónico.
- The local IFPE is not a deposit-taking bank.
- Cross-border services may still involve another Wise group entity under the customer agreement.
- Wise lists free registration and variable transfer pricing starting from 1.36% for eligible routes.
- The transaction preview remains authoritative for amount, currency, route and third-party costs.
- A starting price is not a universal fee.
- Wise documents conditional MXN sending, holding and recipient-bank support.
- Sending from Mexican banks requires Mexican citizenship, a valid INE and an account in the customer's name under the cited guidance.
- Limits, excluded recipient banks, timing and refunds remain route-specific.
Mexico regulator, protection and rail sources
- CNBV describes the PES as the current register of supervised Mexican financial entities in operation.
- It distinguishes banks, SOFIPOs and fintech institutions and states 400,000-UDI bank and 25,000-UDI SOFIPO protection ceilings.
- A register entry does not prove product eligibility, pricing or individual acceptance.
- CNBV states that eligible bank savings are protected by IPAB up to 400,000 UDIs.
- Coverage follows the person and bank and applies only to guaranteed obligations under law.
- SOFIPO deposits, IFPE funds, investments and credit products require different treatment.
- The fund states that it can cover eligible SOFIPO savings up to 25,000 UDIs if the institution is liquidated or disappears.
- The limit is per saver at the same SOFIPO, not per app section or product screen.
- Bank deposits, IFPE funds, securities and credit are outside this SOFIPO statement.
- Banxico operates SPEI for electronic payments that can reach recipients in seconds through participating institutions.
- Participation, schedule, amount, CLABE, fraud review and fees remain institution-specific.
- SPEI access does not establish bank status or deposit protection.
- Banxico describes CoDi payment processing over SPEI and publishes participant context updated 11 June 2026.
- A market participant list does not prove every compared app supports CoDi.
- QR, device, account, direction and limit conditions remain provider-specific.
- The rules govern standardised APIs for open financial data under the Fintech Law.
- They define security, access and data-provider requirements for the covered open-data layer.
- They do not prove universal transactional-data sharing or a specific provider integration.
Unavailable or deliberately not inferred
- A universal winner, guaranteed approval, permanent rate or permanent fee.
- IPAB coverage for SOFIPO deposits, IFPE funds, shares, rewards or credit.
- A separate protection limit for each app section at the same institution.
- Universal SPEI, CoDi, cash, card, ATM or open-finance support.
- Independent onboarding, payment, support, fraud-recovery or insolvency testing.