Banking in Colombia
Best banks in Colombia for expats & digital nomads
Opening a bank account is one of the first things you do after moving to Colombia. Here are the accounts that work for newcomers and non-residents, plus the fintech we would set up before you fly.
How to open a bank account in Colombia
For a standard savings or checking account, traditional banks require a Cédula de Extranjería (the physical foreign-resident ID card, not the temporary contraseña receipt), a passport with a valid visa, proof of a Colombian address, and proof of income; opening is done in person and a RUT tax ID may be requested. Digital wallets (Nequi, DaviPlata, Nu Colombia) are the easiest entry point and accept the cédula de extranjería with a Colombian phone number, no income proof, and no fees.
Wise multi-currency account
Wise is the option we recommend for almost anyone moving to Colombia: hold and convert 40+ currencies, get local account details to be paid like a local, and send money at the real exchange rate with low, transparent fees. It works before you even arrive, so you can receive income and pay deposits while your local account is still being set up.
Open a free Wise account →Affiliate link: we may earn a commission at no cost to you. Wise is a fintech, not a bank; balances are safeguarded, not covered by deposit insurance.
Top banks in Colombia
Bancolombia
traditionalColombia's largest bank with the widest branch/ATM network and the best compatibility with international wires and Wise; account opening is in person.
Davivienda
traditionalOne of the largest banks; runs the DaviPlata platform. Requirements are broadly similar to Bancolombia's (cédula, proof of address, proof of income).
Banco de Bogotá
traditionalLarge, well-established bank with wide ATM coverage; standard foreigner requirements apply.
BBVA Colombia
traditionalSpanish-owned bank with partially translated interfaces; some multi-currency products are reserved for permanent residents.
Nequi
digitalBancolombia-owned wallet with 26M+ users; opens with a valid cédula de extranjería and a Colombian phone number, no income proof or fees. A local phone line is required.
DaviPlata
digitalDavivienda's wallet, expanded into a fuller neobank in late 2025; accepts the cédula de extranjería, with cash-out at Davivienda ATMs and correspondent points.
Lulo Bank
digitalFully digital bank, but onboarding generally expects a cédula de ciudadanía (Colombian citizens), so it is often not open to foreigners on a cédula de extranjería.
International accounts & neobanks
Nubank's Colombian arm; offers a no-fee savings account and credit card and accepts the cédula de extranjería, and its credit card can sometimes be started on a passport before the cédula arrives.
Available for freelancers/businesses to receive international payments with local COP withdrawal to Colombian banks.
Availability changes; confirm on each provider's site.
Next steps in Colombia
See the full Colombia tax, cost and visa profile, or compare Colombia with other destinations. Not sure where to go yet? Take the finder quiz.