Two weeks ago, a friend messaged me: "Have you seen? Revolut finally launched in Mexico."
I knew this day would come. Years ago, a friend in Barcelona told me about Revolut. It was revolutionizing banking across Europe with its online-first approach, no physical branches, and incredible features. Back then, I told him it wasn't available in Mexico. So I waited.
Last month, the wait ended. Revolut landed in Mexico, and I immediately signed up.
What happened next surprised even me.
The three-week rollout that changed everything
Here's how fast Revolut moved:
Week 1: Account launch
I opened a regular checking account entirely online. No paperwork, no visits to a branch, no hassle. It just worked.
Week 2: Credit cards with perks
One week later, Revolut announced they're issuing credit cards. I signed up and received a Platinum Mastercard with a generous spending limit. The main benefit? Free access to Mastercard lounges at Mexico City airport. All for free.
Week 3: Savings accounts with 15% returns
Another week passed. This time, Revolut launched savings accounts with up to 15% interest. Yes, you read that right. The catch? Only the first 25,000 MXN gets 15%, anything above earns 7%.
Three weeks. Three major product launches. That's not normal.
Another week passed. This time, Revolut launched savings accounts with up to 15% interest. Yes, you read that right. The catch? Only the first 25,000 MXN gets 15%, anything above earns 7%.
Three weeks. Three major product launches. That's not normal.
The problem: Traditional banks have been holding Mexico back
Here's why this matters: Traditional Mexican banks have been stuck in the past.
You know the drill. You walk into a branch. You wait in line. You fill out forms. You get a bank account with basic features and terrible digital experience. Maybe they'll offer you a credit card with a mediocre rewards program. Savings accounts? Forget about it. Inflation beats those rates.
This isn't a knock on the people who work at these banks. It's just that their entire model is built around physical locations and in-person processes. They're not designed for a world where banking happens on your phone.
Meanwhile, Europe has enjoyed digital-first banking for years. Revolut, Monzo, and N26 have been making banking simple, accessible, and actually useful. Mexico was left behind.
Until now.
The competition: Revolut vs. Nu
Until now.
The competition: Revolut vs. Nu
Revolut isn't the first digital bank in Mexico. Nu got there first, offering online banking with no branches, solid credit cards, and competitive savings rates.
But Revolut's arrival changes everything. Now you have two legitimate options:
But Revolut's arrival changes everything. Now you have two legitimate options:
Nu: Pioneered online banking in Mexico, strong savings rates, good credit cards
Revolut: European pedigree, aggressive feature rollout, Platinum Mastercard with lounge access, savings rates that compete with Nu
The competition between these two is already driving better deals for consumers. Revolut's rapid feature rollout suggests they're serious about winning the Mexican market. That means better rates, more features, and more convenience for you.
The opportunity: How to maximize your returns
Here's the practical strategy I'm using, and you should too:
The savings arbitrage strategy
Both Revolut and Nu offer similar savings structures:
- Revolut: 15% on first 25,000 MXN, 7% above that
- Nu: Similar rates on similar amounts
Instead of putting all 50,000 MXN in one account where only the first 25,000 earns 15%, split it:
- 25,000 MXN in Revolut at 15%
- 25,000 MXN in Nu at 15%
Result: Your entire 50,000 MXN earns 15%. That's 7,500 MXN in interest per year. That's compared to 5,500 MXN if you kept it all in one account.
This wasn't possible in Mexico just months ago. You'd be lucky to find 5% anywhere.
The broader implication: Mexico is no longer behind
What's really happening here isn't just about better savings rates. It's about Mexico finally catching up to the rest of the world.
For years, Mexicans had to accept second-class banking. Digital tools, convenience, and competitive rates were for people in Europe, the US, or Asia. Mexico was stuck with outdated systems and poor digital experiences.
That era is ending.
Revolut's three-week rollout proves something important: Mexico is now a serious market for world-class fintech. If Revolut is moving this fast, other players will follow. The competition will push rates higher, features better, and experiences smoother.
What you should do
If you're in Mexico, don't sleep on this opportunity.
If you're in Mexico, don't sleep on this opportunity.
- Open accounts at both Revolut and Nu: The signup processes are entirely online and take minutes
- Split your savings: 25,000 MXN in each to maximize your 15% returns
- Use the credit cards: Revolut's Platinum Mastercard gives you airport lounge access. Nu has competitive rewards too
- Keep watching: This trend is accelerating. More competition means better deals
The days of accepting subpar banking in Mexico are over. You now have access to the same digital-first banking that people in Europe have enjoyed for years.
The question isn't whether Mexican banking will catch up to the rest of the world. It's already there.
The real question is: Are you taking advantage of it?