My second post in this series about difficulties at BBVA involves two LiveWellMexico readers (part-time expats living in Quintana Roo) who are longtime bank customers. This couple, whom I’ll call Chloe and Bob to protect their privacy, are homeowners in Tulum.
Because they opened their BBVA account about a decade ago, Chloe and Bob are among the bank’s legacy customers who hold debit accounts without RFC numbers.
Back in the day, even tourists could open BBVA accounts in certain parts of Mexico. Plus, you do not need legal residency or an RFC number to purchase property in Mexico, even today.
Things changed big time in 2022 when the Mexican government passed tax reform requiring all residents and citizens to have RFC numbers (a tax ID akin to a U.S. Social Security number). In response to the new law, most Mexican banks began requiring all new customers to provide an RFC number to open a bank account.
With that brief history lesson out of the way, let’s get into Chloe and Bob’s story.
Debit Account Blocked Due to Card Expiration
This past winter, Chloe wired money to the couple’s BBVA account from a U.S. bank before returning to Mexico. Shortly after arriving, they tried to access those funds but couldn’t.
It seems their debit card had expired while they were outside of Mexico. So, the couple visited their branch to request a replacement card, only to be denied because they could not provide the bank with an RFC number. This meant they could not withdraw funds from the bank’s ATM or a teller.
As a side note, the couple weren’t users of the mobile app, which may have allowed them to do a cardless cash withdrawal at one of the bank’s ATM or transfer funds out of BBVA. There’s fault to go around in this situation, but one thing is clear…
BBVA didn’t inform its legacy customers that their ability to continue doing business with the bank would be compromised if they didn’t comply with the new law and obtain RFC numbers. Only the expiration of their debit card triggered a customer profile review — and a request for new documentation.
Since RFCs aren’t given out to tourists, Chloe and Bob needed to establish legal residency with Mexican immigration (INM) before they could apply for an RFC number from SAT (Mexico’s tax authority). This was no small task, given that the regularization program, which I used to refer to as the “backdoor to Mexican residency” within Mexico, is now effectively closed.
Besides declining the couple’s request for a new debit card, BBVA also refused to assist in reversing the electronic funds transfer into their debit account or even allow Chole and Bob to close the account. Solving this mess has cost the couple a hefty sum, not to mention plenty of stress.
Zooming out a little… Is it possible that other BBVA branches would take a less Draconian approach with longtime customers? Yes, absolutely.
Frankly, it’s a good reason to spend some time at your local branch and get to know its manager, as they’re more likely to help you in a bind if they know you personally. No two BBVA branches operate exactly alike.
But should you count on being treated better than Chloe and Bob? Definitely not!
I honestly have no idea how many expats might find themselves in a similar predicament when their debit cards expire, but if you bank at BBVA and still lack an RFC number, let this be a wake-up call to take the following steps:
- Install the BBVA mobile app on your phone to ensure you aren’t fully dependent on a physical debit card for transactions.
- Check the app to locate your debit card’s expiration date. (Simply tap the card icon under “Tarjetas” on the app’s home screen to reveal all of the key details)
- Ask your bank branch about their process for issuing replacement debit cards, including the documents you’ll need to provide to get one.
- Take action, depending on what you learned in step 3. This might involve making plans to get your Mexican residency and/or RFC number, transfer funds out of the account, or close it entirely.
These steps may seem pretty basic, but since there are still BBVA customers out there not doing them, consider them a “parental advisory” for keeping your money safe.