Banks in Medellin Colombia: Opening an account is easy?

  1. Banks in Medellin Colombia:

Where to abs how to deal with banks in Medellin Colombia?

There are ATM’s across the city, so you can always withdraw local currency Colombian Pesos (COP), anywhere in downtown Medellín.

Banks In Medellin Colombia
Get a Bancolombia account – only a passport.

Charges vary and some banks such as Davivienda Bank don’t charge a withdrawal fee.

Davivienda also offer more competitive exchange rates than the ubiquitous Bancolombia

Banking in Medellín – ATM’s?

Once you decide to stay for a while, you may want to open a bank account.

With a local account and debit card, you won’t need to carry so much cash around with you.

This is always a plus from a security/safety perspective.

Having a card and an account with Bancolombia only costs around $3USD per month.

Bancolombia has the advantage of having some branches stateside.

Bancolombia also has efficient international transfer service, with funds from hitting your account relatively quickly.

So can you get a bank account without a visa, local ID, company, or labour contract?

The answer is YES …but it’s a bit sketchy and can vary depending on how good a day the cashier is having.

When I went to a Mall near Laureles, I dutifully took my wait in line ticket from the machine.

I waited my turn, like a good Brit, but after a valiant struggle, was refused.

Bemused, I called an American friend. who has been here 7+ years.

He suggested trying the Bancolombia branch in Santafe Mall, El Poblado.

I’m informed that Bancolombia branch Calle 10, el Poblado, is also a good bet.

In El Poblado (jokingly nicknamed “gringoland”). branch the staff are more used to dealing with foreigners.

They even have an English speaking service for “gringos” who do not hablar el español!

Just show your passport, a healthy balance in your bank account back home and you should be able to wing it.

Be sure to bring your passport and 3 x month’s statements from your main bank account.

That said it can still be a bit of a lottery, with much depending on the cash-clerk.

But keep smiling and good luck!

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