The US Dollar Account for Mexico – No Hidden Fees & Competitive FX Rates

Open your US deposit account with ease. Send, spend, and save with transparent rates, instant transfers, and a seamless experience designed for life between the US and Mexico.

Coba is a financial technology company, not an FDIC insured depository institution. Banking services provided by Bangor Savings Bank, Member FDIC. FDIC insurance coverage protects against the failure of an FDIC insured depository institution. Pass-through FDIC insurance coverage is subject to certain conditions.

Convert USD to MXN with Ultra Competitive Exchange Rates

Get the Best Value for Every Dollar Your Convert to Pesos. No Surprises.

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Is Coba Right for You?

Freelancers & Business Owners

  • Get Paid Without Hidden Fees: Maximize your dollars on every deposit and keep more of your earnings.
  • Maximize Your Income: Benefit from unbeatable USD to MXN exchange rates, saving you money on every conversion.
  • Control Your Finances Anywhere: Manage your money effortlessly with a fully digital solution that fits your remote lifestyle.

Expats Enjoying Life in Mexico

  • Seamless Currency Conversions: Instantly convert USD to MXN and access your funds anytime—even on weekends.
  • Avoid Unnecessary Costs: Say goodbye to high fees and hidden charges with the most competitive FX rates available.
  • Simplify Your Financial Life: Pay bills, send money to loved ones, and manage your accounts with ease.
“Simply the best solution for those of us who have international clients and live in Mexico. Coba has the greatest user experience coupled with the most competitive exchange rate. I’m glad I’ll never need to use traditional banks to convert my USD again.”
Picture of one of our clients sharing a testimonial
Rafael Cardenas
Staff Software Engineer
"Coba has been immensely helpful in precisely managing my clients' payments, despite currency fluctuations. Moreover, their advisory and accounting support has been crucial in keeping my fiscal situation organized and up-to-date. 100% recommended!"
Picture of one of our clients sharing a testimonial
Beatriz Montaño
Art Director
“A platform where I can easily deposit earnings directly into my US account and access those funds in pesos whenever I want. Coba offers excellent customer service at any time and is willing to help making it a better experience.”
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Picture of one of our clients sharing a testimonial
Mariana Villarreal
Head of People Ops

4 Simple Steps to Open Your USD Account with Coba

1. Phone Verification

2. Personal/Tax Info & Address

3. ID Verification

4. Selfie Verification

Why Use Coba

Avoid unnecessary costs when earning your desired salary, clients paychecks or dividends

Quickly withdraw your USD to MXN anytime, 24/7—even on weekends

Send to yourself, family and friends in Mexico easily and seamlessly

Mobile-first experience: no signatures or phone calls required for your transactions

Your funds, protected and secure in a US-based account

Full control on your money—keep your dollars until you're ready to spend them

Download the Coba App and Open the US Dollar Account For Mexico

Easy, Secure, and Designed for You. Open Your Account Now.

Frequently Asked Questions

At Coba, we offer the Deposit Account and Virtual US Debit Card with no fee.

Coba is a Fintech (or financial technology) company. This means we don’t have a bank charter, but instead, partner with Bangor Savings Bank, Member FDIC. This allows us to provide you with banking products and services, and to insure your deposits with us up to the legal limit of $250,000 USD. In contrast, a Wallet won’t have the same flexibility and security that the current banking system can provide.

Coba was created for individuals living outside of the US, who need access to a U.S. based deposit account to receive payment from their U.S. employers. Coba is currently available to individuals living in Mexico.‍

To comply with banking regulations, we need to collect information that will allow us to verify your identity. This includes your personal information, Tax ID (RFC) and National ID Number (CURP), Government ID + Selfie picture and Proof address if different than address displayed on Government ID (utility bill, bank or credit card statement). In some cases, we may also ask for additional documentation to confirm your identity, but only if it’s completely necessary.

According to the US Internal Revenue Service (IRS), your residency status and the location where you perform your work as a contractor determines the source of your income for tax filing and tax payment purposes. This article from Deel (Payroll for Global Teams) offers additional information.

Cross-border tax can be complex, which is why Coba offers it’s members a Tax Support Service to make it easy to fulfill your own tax obligations in line with local tax laws in your country of tax residence. Coba members have access to a qualified tax expert as well as an easy in-app way to report payments, timbrar facturas to local authorities and even submit monthly tax declarations.

Funds in your Coba Deposit Account is insured by the FDIC (Federal Deposit Insurance Corporation) through our partner bank, Bangor Savings Bank, Member FDIC, up to the legal limit of $250,000 USD.

Coba is a financial technology company, not an FDIC insured depository institution. Banking services provided by Bangor Savings Bank, Member FDIC. FDIC insurance coverage protects against the failure of an FDIC insured depository institution. Pass-through FDIC insurance coverage is subject to certain conditions.

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