Editor’s note: For foreign residents, managing money in Mexico is less about finding a single perfect financial product than building a practical local system. A Mexican bank account can simplify everyday life—from paying utilities and local providers to making online purchases and transferring funds—while IPAB deposit insurance protects eligible deposits up to 400,000 UDIs per depositor, per bank. Yet a local credit card is far less common: more than 70% of surveyed foreigners have a Mexican bank account, but only one in five holds a Mexican credit card, largely because foreign cards often offer better rewards and dramatically lower interest rates. The latest Confidently Wrong podcast brings these issues together, sharing survey findings, common expat money mistakes and strategies for banking, cash, credit and avoiding financial crime with greater confidence.