Updated September 28, 2026 · VaultCue Editorial Team
Nu Colombia vs Step
Nu Colombia
Step
Higher score in this comparison
Where Nu Colombia and Step differ
| Compare | Nu ColombiaReviewSee alternativesSee alternatives | StepReviewSee alternativesSee alternatives |
|---|---|---|
| Headline rate | 0.1% | 3%Higher |
| Minimum deposit | COP 0 | $0 |
| Access terms | Easy access with no time or minimum deposit requirements; unlimited free transfers to any bank, 1 free ATM withdrawal per month, daily yield shown in the app | No savings minimums; 3.00% on savings requires Step Black status, earned by spending $500 with the Step Card or $300 in qualifying direct deposits each calendar month |
| Monthly fee | COP 0 | $0 |
| Deposit protection | Not confirmed | FDIC up to USD 250,000 |
Same on both: Rate type (Variable), Account kind (Easy access).
We earn a commission when you sign up through links on this site. Partner status can affect where a brand appears in our rankings. Partners with a live offer in your country come first, then every other brand by score.
Key differences
- Step scores higher overall: 8.8 vs 8.3.
- Headline rate is higher at Step: 3% vs 0.1%.
- Support channels: only Step offers Chat.
Our verdict on each
Nu Colombia
Nu Colombia suits anyone in Colombia who wants a peso account for everyday money with no monthly charge and free transfers. The monthly fee is COP 0, the rate is variable at 0.1%, and daily yield suits a holding account rather than a saver.
Step
Step suits teens and students in the US who want a free everyday account and easy access savings, with an overall score of 6.3. Costs sit at $0 a month and savings run at 3% variable, but that rate waits on a status earned by card spending or qualifying direct deposits.
Score breakdown
| Area | Nu Colombia | Step |
|---|---|---|
| Cost | Not confirmed | 9.3Monthly fee of $0 on a no monthly fee model, with free atm for ATM withdrawals. |
| Offer | 8.6Fee free to run at a COP 0 monthly fee, with a variable rate of 0.1% and free local transfers. | 9.4Higher |
| Trust | 8.1 | 8.1 |
Where each is licensed and available
| Country | Nu Colombia | Step |
|---|---|---|
| Colombia | Not confirmed | |
| United States | Not confirmed |
Additional countries for Nu Colombia: 1. Additional countries for Step: 1.
How they place
| Ranking | Nu Colombia | Step |
|---|---|---|
| Savings accounts | 600 of 1420 | 490 of 1420 |
Every fact side by side
| Fact | Nu Colombia | Step |
|---|---|---|
| Pricing model | No monthly fee | No monthly fee |
| Legal entity | Nu Colombia Compania de Financiamiento S.A. | Step Financial LLC |
| Headquarters | Colombia | United States |
| Founded | 2020 | 2020 |
| Support channels | Email, Phone, Help centre | Chat, Email, Phone, Help centreCovers more |
Everyday accounts
| Fact | Nu Colombia | Step |
|---|---|---|
| Currency conversion fee | 0.45% | Not confirmed |
| Audience | Not confirmed | Teen |
| Features | Free ATM | Free ATM |
| Local account details | Not confirmed | Us ACH |
| Free ATM withdrawals | COP 1 | Not confirmed |
| Transfer fee | 0 COP, unlimited free transfers to any Colombian bank or digital wallet | Small fee for Instant Transfer to a linked debit card |
Where each stands against the rest
| Fact | Nu Colombia | Step | Median |
|---|---|---|---|
| Headline rate | 0.1%lowest quarter | 3%below the median | 3.25% |
Median across 658 listed accounts.
Pros and cons
Nu Colombia
Pros
- A COP 0 monthly fee, so running the account is free
- Unlimited free transfers to any Colombian bank or digital wallet, plus COP 1 free ATM withdrawals a month
- A variable yield of 0.1%, credited daily in the app
Cons
- A yield of 0.1% sits well below the 3.08% savings median
- The rate is variable, so the 0.1% yield can move rather than hold for a term
- Free cash withdrawals are capped at COP 1 a month, and the balance is otherwise moved by transfer
Step
Pros
- Monthly fee of $0 on a no monthly fee account
- Savings rate of 3% variable with a minimum deposit of $0
- free atm means no ATM charge when you need cash
Cons
- The full savings rate is tied to a status earned by card spending or qualifying direct deposits, so an inactive month earns less
- Small fee for Instant Transfer to a linked debit card for an Instant Transfer to a linked debit card
Who each suits
Nu Colombia
Who it suits
- Colombian residents who want a peso account for daily spending
- People who move money often and want unlimited free transfers to local banks and wallets
- Holders who accept a variable low yield in exchange for no monthly charge
Who should look elsewhere
- PayPal Colombia, which lists a headline rate of 3.3% against 0.1% here
- AXI Card, which shows 21.59% for anyone chasing the rate rather than free transfers
- Plazo ES, which lists 24.19% for anyone focused on rate rather than free local transfers
Step
Who it suits
- Teens in the US building their first account
- Students who keep a direct deposit in place to keep the better savings rate
Who should look elsewhere
- bunq and bunq Spain Bank Account, where a euro account serves a euro market rather than a US teen account
- Pixpay FR, which charges a monthly fee of €3.99
Current offers
Nu Colombia
Step
Current offer
Bonus
Cashback on Step Card purchases with Step Black: Up to 10% cashback on purchases with select Step Black Partners, and unlimited 1% cashback on everything else
Requires Step Black enrollment; Step Black is an earned status available at no cost and full status is earned by meeting qualifying activity thresholds each month
Source, checked September 26, 2026
Bonus
Step savings reward: 3.00% on your savings balance (cash rewards, not interest)
Step Black is an earned status available at no cost; full status is earned by meeting qualifying activity thresholds each month; percentage is variable and may change
Source, checked September 26, 2026
Country by country
| Country | Nu Colombia | Step |
|---|---|---|
| Colombia | Yes | No |
| United States | No | Yes |
Questions about each
Nu Colombia
What does it cost to run the account?+
There is no monthly charge, with a monthly fee of COP 0. Transfers to any Colombian bank or digital wallet are unlimited and free. Currency conversion is charged at 0.45%, below the 0.5% median on the site.
What rate does the balance earn?+
The account pays a variable rate of 0.1%, and the daily yield is shown in the app. Because the rate is variable it can move, and it sits well below the 3.08% median for savings accounts on the site.
Step
How much does a Step account cost each month?+
The monthly fee is $0 and the account follows a no monthly fee model, so there is nothing to pay simply for holding it. Cash handling is covered by free atm, so withdrawing at an ATM costs nothing either. The one charge to watch is Small fee for Instant Transfer to a linked debit card to a linked debit card.
What interest do I get on savings?+
The headline savings rate is 3% and it is variable, so it can move rather than being locked. The minimum deposit is $0, which means you can start small. Savings are easy access, so you can take money out without giving up a fixed term.
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Nu Colombia
Step