More than 12 thousand refugees with a legal residence permit in Mexico have managed to open a bank account, a fundamental step for their integration into formal employment. The initiative, promoted by Banorte in alliance with the UN Refugee Agency (UNHCR), began in 2022.
Felipe Medina, executive director of Funding at Banorte, pointed out that the main obstacle was the lack of access to an account to deposit payroll. Although the regulations allow opening accounts with CURP and immigration documents, in practice many branches did not recognize this documentation.
“There were people who already wanted to work, join formal employment and could not find an account that would allow them to receive their resources,” Medina explained.
The bank designed a digital opening process in about five minutes, with a simplified file. Refugees can receive salary deposits, make transfers and use a digital debit card. The physical card is then obtained in commercial establishments, without having to go to a branch.
Banorte also collaborated with companies that hire refugees—such as FEMSA, Mabe, LEGO and Alpura—to speed up account opening during job incorporation. Human resources teams received specialized training.
Banking has allowed full integration into the formal economy. The accounts in this segment record monthly deposits between 2,000 and 14,000 pesos, an average balance of 1,900 pesos and about six digital transactions per month. Companies report lower staff turnover and higher productivity among refugee workers, many with professional experience or specialized studies.
