Colombian banking for foreigners runs through the major local banks, not international names you might recognise: HSBC exited Colombian retail banking back in 2012, and Citibank’s Colombia retail operations were absorbed by Scotiabank years ago (which has itself since sold its Colombia business to Davivienda). If a source tells you to open an “HSBC account in Colombia,” it’s out of date.
The banks that actually serve foreigners #
Bancolombia, the country’s largest bank, and Davivienda, now also home to the former Scotiabank/Citibank customer base, are the two most practical choices for expats: extensive branch networks, reasonably developed English-language support in major cities, and app-based banking that works well once you’re set up. Other viable options include BBVA Colombia and Banco de Bogotá.
What you actually need #
A cédula de extranjería (the foreign resident ID card, issued after a Migrant or Resident visa is granted) is the standard requirement for a full Colombian bank account. This is the single biggest gatekeeper: a tourist stay (PIP/PTP) does not qualify you for the ID, and without it, most banks won’t open a standard account. See the visa and residency guide for how to get one.
Proof of a Colombian address (a lease agreement or a utility bill in your name) and proof of income or funds (an employment contract, bank statements, or invoices for freelance work) round out the standard document list. Requirements vary somewhat by bank, so confirm the specific list with your chosen branch before your appointment.
The process itself #
Opening an account almost always requires an in-person branch visit; full remote account opening for foreigners isn’t generally available. Bring your passport, cédula de extranjería, and the address and income documents above, and expect the appointment itself to take an hour or more given the identity and source-of-funds verification Colombian banks are required to perform.
If you don’t have a long-term visa yet #
Non-residents without a cédula de extranjería can open a brokerage account with just a passport and proof of foreign income, though this is designed for investing in Colombian markets rather than daily banking, and isn’t a practical substitute for a standard account if you need to pay rent, receive local income, or use a debit card day to day.
*Related: Visa and Residency for Expats | Colombia Taxes for Expats | Cost of Living in Colombia
