The matricula is an identification card issued by the Mexican government for Mexican citizens living abroad. The card is used to establish identity and citizenship, primarily to access consular services in foreign countries. Mexico started the matricula program more than a century ago, but the document gained popularity after the 9/11 attacks and subsequent Patriot Act, which required financial institutions to maintain additional identification information for customers. In order to obtain a matricula, citizens must provide an original Mexican birth certificate, an official photo ID, and proof of home address in the consular district. Like U.S. identification cards, matriculas include security features such as lamination, a watermark and a magnetic strip. A matricula is normally valid for five years. Under Customer Identification Program (CIP) regulations issued by the U.S. Treasury Department, financial institutions may accept foreign identification; however, the regulations do not require institutions to accept them. The decision whether or not to accept IDs issued by foreign governments, such as the matricula, are left up to individual financial institutions. There are no laws preventing foreign citizens from opening accounts with U.S.-based financial institutions.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.