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Bancolombia review

Updated September 28, 2026 · VaultCue Editorial Team · Facts checked September 26, 2026

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Our verdict

Bancolombia suits people banking in Colombia who want everyday access without a monthly charge, and its savings rate sits well below the 3% across savings accounts here. The catch is that a monthly charge can still apply, and the rate is variable, so income can move under you.

Key facts

Best for
Everyday banking in Colombia with no monthly charge and wide ATM access
Monthly fee
COP 18,050↗
Currencies
9↗
Transfer fee
No fee for receiving a remittance↗
Legal entity
Bancolombia S.A.↗
Headquarters
Colombia↗
Founded
1945↗
Support channels
Phone, Help-centre, Email, Community↗
Pricing model
No monthly fee
Official website
bancolombia.com

Savings

Headline rate
0.05%↗
Rate type
Variable↗
Minimum deposit
COP 0↗
Access terms
Move money from $0 and withdraw at more than 33,000 ATMs and banking correspondents↗
Account kind
Easy access↗

Money transfer

Payout methods
Bank, Wallet↗
Fee to send 1,000
COP 0↗

Facts checked September 26, 2026, 7 sources

Apps and profiles

Get the app
App Store
Elsewhere
WikidataWikipediaX

Pros and cons

Pros

  • Access terms let you move money from COP 0 and withdraw at ATMs and banking correspondents
  • Most accounts carry no monthly charge, and the common monthly fee across the site is €0
  • Support runs on phone, help centre and email, so phone, help centre, email and a community forum are all available
  • A variable rate of 0.05% on savings, with a 9 currency transfer service

Cons

  • A monthly charge of COP 18,050 applies to some accounts despite the no monthly charge model
  • A variable rate of 0.05% is below the 3% typical of savings accounts here
  • Currencies are limited to 9 on international transfers, against a 350 maximum across the site
Bancolombia

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Scored 9.7 / 10 by VaultCue.

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Who it suits

  • Colombian households paying day to day and paying in cash often
  • People who bank mainly locally rather than holding many currencies
  • Anyone receiving money from abroad, since remittances carry no fee

Who should look elsewhere

  • Savers chasing the top rate, since a variable 0.05% trails the 3% site median
  • People holding many currencies, because transfers cover 9
  • Anyone who wants a guaranteed rate, since the savings rate is variable

Fees and FX

The account is listed as carrying no monthly charge, and the site median monthly fee is €0. Some accounts still carry a monthly charge of COP 18,050, so the tariff attached to the account you open is what decides the cost. On transfers, No fee for receiving a remittance, and the fee amount in the tariff is COP 0. International transfers run across 9 currencies.

Rates and card terms

The savings side pays a headline rate of 0.05% and the rate type is variable, so the amount paid can change with the bank rather than being locked in. That sits below the 3% median for savings accounts on the site and below the 3.25% in the everyday accounts ranking. The account kind is easy access, and the minimum deposit is COP 0, so money can be moved from the start.

How Bancolombia compares

Where Bancolombia is available

Available
Colombia

Countries from the brand (Source, checked September 26, 2026)

Frequently asked questions

Is there a monthly charge on a Bancolombia account?+

Most accounts sit in the no monthly charge model, and the site median monthly fee is €0. Some accounts do carry a monthly charge of COP 18,050, so check the tariff attached to the account you open before you rely on it being free.

What interest does the savings account pay?+

The savings account pays a headline rate of 0.05% and the rate type is variable. The rate can move, so the amount you earn is not fixed for the life of the account, and it sits below the 3% median for savings accounts on the site.

How much do I need to open the account?+

The minimum deposit is COP 0, and the access terms let you move money from that starting point. The account kind is easy access, so money in the account can be taken out as needed rather than being tied up for a term.

Can I withdraw cash without visiting a branch?+

Yes. The access terms set out that cash can be withdrawn at ATMs and banking correspondents, so cash is available well beyond a branch network. A large share of the accounts compared here, 52.9%, also carry free ATM withdrawals for day to day use.

Does it cost anything to receive money from abroad?+

No. No fee for receiving a remittance, and the fee amount in the tariff is COP 0. Payouts are available to a bank account and to a wallet, which covers the main ways of getting money in from family or work abroad without a charge on arrival.

Which currencies can I send and receive?+

The international transfer service covers 9 currencies. That is well short of the 350 available on the widest accounts here, so people who hold or pay in many currencies are better served by an account built for multi currency use.

How do I get help if something goes wrong?+

Support runs on phone, help centre and email, covering phone, a help centre, email and a community forum. Phone support is the most common channel among the accounts compared at 79.5%, and the help centre is close behind at 86.1%.

Who is this account for?+

It fits people banking in Colombia who pay day to day, often in cash, and want access without a monthly charge. It also suits people who receive money from abroad, since remittances carry no fee and can be paid to a bank account or a wallet.

Sources

Compiled from 7 source pages, checked September 26, 2026. We did not open an account.

Not confirmed yet: Licence type, Deposit protection, Currency conversion fee.

Bancolombia

Bancolombia

Everyday banking in Colombia with no monthly charge and wide ATM access

9.7/10See alternatives