Bancolombia
traditional bank
Bancolombia is Colombia's largest bank by assets and the leading financial institution in the country, headquartered in Medellín and founded in 1875. It operates more than 1,000 branches and 4,500 ATMs nationwide, with additional presence in Panama, El Salvador, Guatemala, and Puerto Rico. The bank offers a full range of retail and corporate products including COP and USD savings accounts, current accounts, credit cards, consumer loans, mortgages, and trade-finance facilities. Foreign nationals holding a valid Colombian residency visa (Cédula de Extranjería) can open accounts in person at a branch. US persons are accepted and Bancolombia is FATCA-compliant, reporting to the IRS under its US correspondent banking relationships. Regulated by the Superintendencia Financiera de Colombia (SFC), the bank adheres to FATF anti-money-laundering standards. Business accounts are available for Colombian-registered entities with NIT. Monthly account maintenance fees vary by product tier and are commonly waived on payroll or salary-credit accounts.
Details
- Headquarters
- Colombia
- Currencies
- 2
- Monthly Fee
- $4
- Non-Residents
- Not accepted
- US Persons
- Accepted
- Debit Card
- Available
- Business Account
- Available
Opening Requirements
- •Valid Colombian residency visa (Cédula de Extranjería) or Colombian citizenship (Cédula de Ciudadanía)
- •Passport (original) for foreign nationals
- •Colombian NIT (Número de Identificación Tributaria) for business accounts
- •Proof of Colombian address (utility bill, lease agreement, or employer letter)
- •Proof of income or employment (labour contract, payroll slip, or business financial statements)
- •In-person visit to a Bancolombia branch or authorised correspondent
Restricted Nationalities
Not available to nationals of: north-korea, iran, cuba, syria
Nationality Acceptance Matrix
Who this provider will and will not onboard. Refusals are listed first. Sourced from the provider's own published terms and recent public onboarding reports — confirm with the provider before applying.
| Nationality | Accepted | Notes |
|---|---|---|
| russia | NO | Russian nationals face severely enhanced scrutiny; Colombia's SFC has adopted FATF guidance consistent with the 2022 sanctions environment; account opening is practically unavailable. |
| iran | NO | Blocked — FATF high-risk jurisdiction; Colombian AML regulations and USD correspondent-banking exposure prohibit onboarding. |
| cuba | NO | Blocked — OFAC Cuba sanctions apply to USD-clearing operations; Bancolombia clears USD via US correspondent banks. |
| north korea | NO | Blocked — UN/FATF DPRK sanctions. |
| syria | NO | Blocked — FATF/UN Syria sanctions; USD correspondent-banking risk. |
| colombia | YES | Colombian nationals are the primary customer base; full product access with Cédula de Ciudadanía. |
| us | YES | US persons accepted; Bancolombia is FATCA-compliant and reports to the IRS. Colombian residency visa (Cédula de Extranjería) still required as a prerequisite. |
| uk | YES | UK nationals accepted with valid Colombian residency visa, passport, and proof of address. |
| eu | YES | EU nationals accepted with valid Colombian residency visa and standard KYC documentation. |
| china | YES | Chinese nationals accepted with valid Colombian residency; growing Chinese business community present in Colombia. |
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Sources & last verified
- Last verified 2026-06-15