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Nequi review

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

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Our verdict

Nequi suits Colombian adults who want everyday spending and an insured savings balance in a single free account, not readers who need a long currency list. The monthly fee is COP 0, and currency conversion at 3% is the only charge that adds up.

Key facts

Best for
A single free everyday account with an insured savings balance for Colombian adults.
Monthly fee
COP 0↗
Currency conversion fee
3%↗
Currencies
2↗
Transfer fee
Free (GRATIS) to send to Nequi or Bancolombia accounts/deposits, to other banks via ACH, and by QR↗
Legal entity
Nequi S.A. Compania de Financiamiento↗
Headquarters
Colombia↗
Founded
2015↗
Support channels
Phone, Chat, Help-centre, Community↗
Audience
Teens, Business, Freelancers
Pricing model
No monthly fee
Features
Free ATM withdrawals
Official website
nequi.com.co

Money transfer

Exchange rate markup
3%↗
Delivery time
Within 24 hours↗
Payout methods
Bank, Cash-pickup, Wallet↗
Fee to send 1,000
COP 0↗

Savings

Rate type
Variable↗
Access terms
Nequi savings account for Colombian natural persons over 18, unlimited balance and no transaction cap, one savings account per user, deposit insured by FOGAFIN↗
Account kind
Easy access↗

Facts checked September 26, 2026, 7 sources

Apps and profiles

Get the app
App StoreGoogle Play
Elsewhere
WikidataLinkedInX

Pros and cons

Pros

  • Deposits are insured by FOGAFAN, and the balance is unlimited with no transaction cap.
  • The account kind is easy access and the savings rate is variable.
  • Money can go to a bank, a cash pickup point or a wallet, per bank, cash pickup and wallet.
  • Support runs on phone, chat and help centre, and free ATM withdrawals sit in the feature list.

Cons

  • Currency conversion costs 3% with a markup of 3%, above the everyday-accounts fee median of 0.22%.
  • Only 2 currencies are supported, against an everyday-accounts median of 9.
  • A single savings account per user, and only Colombian natural persons can open it.
Nequi

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Scored 8.5 / 10 by VaultCue.

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Who it suits

  • Colombian adults who want savings and everyday spending in a single free account with insured deposits
  • People in Nequi's core audience of teen, business and freelancer, from teens to freelancers
  • Freelancers in Colombia who take payouts to a bank, a cash pickup point or a wallet, per bank, cash pickup and wallet

Who should look elsewhere

  • Readers who hold many currencies: Nequi covers 2 and charges 3% to convert, so Skrill is the one to compare
  • Anyone earning or saving in euros rather than pesos, since Plazo ES is priced in euros with a monthly fee of €0
  • Readers who want a payment wallet rather than an insured savings balance, since PayPal Colombia also has a $0 monthly fee

Fees and currency costs

The savings account has a monthly fee of COP 0, so there is no standing charge to hold or spend from it. Transfers to Nequi or Bancolombia accounts, to other Colombian banks by ACH and by QR are free, with a transfer fee of COP 0. Currency conversion is the one charge to watch, at 3%, so keeping balances in pesos avoids it.

How Nequi compares

Where Nequi is available

Available
Colombia
Licence in Colombia
Superintendencia Financiera de Colombia, checked September 26, 2026

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

Frequently asked questions

What does Nequi cost to keep each month?+

The Nequi savings account carries a monthly fee of COP 0, so there is no standing charge for Colombian adults. Transfers to Nequi or Bancolombia accounts, to other Colombian banks by ACH and by QR are free, with a transfer fee of COP 0.

Is my money protected in a Nequi savings account?+

Deposits in the Nequi savings account are insured by FOGAFIN, and the account kind is easy access. The balance is unlimited with no transaction cap, and the account is open to Colombian natural persons with a single savings account per user.

Who regulates Nequi?+

Nequi runs in Colombia, where the regulator is the Superintendencia Financiera de Colombia, and the legal entity is Nequi S.A. Compania de Financiamiento. Deposits held in the savings account are insured by FOGAFAN, so safety rests on a named supervisor and a named deposit insurer.

Which currencies can I hold and convert?+

Nequi covers 2 currencies, and conversion costs 3% with a markup of 3%, above the everyday-accounts fee median of 0.22%. Spending and saving in pesos keeps the everyday account free of that charge.

How do I get money out of Nequi?+

Money leaves Nequi to a bank, a cash pickup point or a wallet, per bank, cash pickup and wallet. The savings rate is variable, and transfers to Nequi or Bancolombia accounts and to other banks by ACH and by QR carry no charge.

Who is Nequi built for?+

Nequi's stated audience is teen, business and freelancer, and the savings account is for Colombian natural persons. Free ATM withdrawals sit in the feature list, and support runs on phone, chat and help centre, so help comes by phone and chat as well as a help centre.

Is the Nequi savings account easy access?+

The Nequi savings account is easy access, so the account kind is easy access and the balance is unlimited with no transaction cap. The rate is variable, so returns can move with the market instead of being fixed for a set period.

Sources

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

Not confirmed yet: Licence type, Deposit protection.

Nequi

Nequi

A single free everyday account with an insured savings balance for Colombian adults.

8.5/10See alternatives