Business banking in Colombia: how to open an account, fees and options

Snapshot

Opening a business bank account in Colombia normally requires a company registered with the Camara de Comercio, the Chamber of Commerce, and a RUT with a NIT tax identification number issued by DIAN, the tax authority. Traditional banks such as Bancolombia, Banco de Bogota, Davivienda and BBVA Colombia offer peso business accounts, while digital wallets and cross border platforms suit smaller or internationally facing businesses. Non residents generally need a Colombian registered entity and a legal representative.

Can a non resident open: A non resident individual generally cannot open a company account directly. You normally need a company registered in Colombia, a RUT with a NIT, and a legal representative; a foreign legal representative usually needs a Colombian visa and a Cedula de Extranjeria. Verify with the provider.
Typical timeline: Chamber of Commerce registration is often quick, while bank account opening and compliance checks commonly take a few days to several weeks, and longer for foreign owned companies. Verify with the provider.
Free account available: Some digital wallets and fintech products carry no monthly fee, while traditional bank accounts commonly charge a monthly handling fee of about COP 30,000 to 80,000 as of 13 June 2026.
Most providers: Several traditional and digital business accounts

Fees and features as of 13 June 2026Last reviewed 13 June 2026

General information, not financial, legal, or tax advice. Verify current terms and eligibility with the provider before applying.

To open a business bank account in Colombia you usually need a company registered with the Camara de Comercio, a RUT issued by DIAN that carries the NIT tax identification number, the certificate of existence and legal representation, the articles of incorporation, and identification for the legal representative. As of 13 June 2026 traditional banks commonly charge a monthly handling fee, the cuota de manejo, while some digital products carry no monthly fee. The account is held in Colombian pesos and uses local systems such as PSE and Transfiya. Non residents normally need a Colombian entity and a legal representative. Confirm current terms with the provider.

How business banking works in Colombia

Business banking in Colombia is built around two registrations. First the company is registered with the local Camara de Comercio, the Chamber of Commerce, which issues the certificate of existence and legal representation. Second the company obtains a RUT, the Registro Unico Tributario, from DIAN, the national tax and customs authority, which assigns the NIT tax identification number used for all banking. The market includes large traditional banks such as Bancolombia, Banco de Bogota, Davivienda, BBVA Colombia, Banco de Occidente and Scotiabank Colpatria, alongside digital wallets and fintech providers. Accounts are denominated in Colombian pesos, and local transfers run through ACH Colombia, PSE and Transfiya. As of 13 June 2026 traditional bank accounts usually carry a monthly handling fee.

Who can open a business account

A company registered in Colombia, commonly a S.A.S., a Sociedad por Acciones Simplificada, or a S.A. or Ltda., can open a business account once it holds a RUT with a NIT. The legal representative provides official identification, and banks ask for the certificate of existence and legal representation dated within the last 30 days, the articles of incorporation, and a shareholders composition certificate. Foreign owned companies can hold an account, but the company must be registered in Colombia and usually needs a legal representative who can act locally; a foreign legal representative typically needs a valid Colombian visa and a Cedula de Extranjeria. Banks apply enhanced scrutiny under the SARLAFT anti money laundering rules. Verify your situation with the provider, as of 13 June 2026.

Traditional banks compared with neobanks

Traditional banks offer branch access and a full range of services, including credit, payroll and foreign currency handling, usually with a monthly handling fee. Digital providers and wallets such as Nequi, which spun out of Bancolombia, Daviplata from Davivienda, Lulo Bank, Nu Colombia and Movii focus on fast onboarding and low or no monthly fees, though several are aimed at individuals and small sellers rather than the full range of a large bank, and deposit protection arrangements differ. For receiving payments from clients abroad, cross border platforms such as Payoneer and Wise are widely used. Compare features and protections for your needs, as of 13 June 2026.

Requirements and documents

Requirements vary by provider and by whether owners are resident in Colombia. Typical items include the following. Verify with the provider

A company registered with the Camara de Comercio, with the certificate of existence and legal representation dated within the last 30 days, and the articles of incorporation.
A RUT issued by DIAN showing the NIT and the company tax responsibilities, plus official identification for the legal representative.
A shareholders composition certificate, proof of the company address, and, for a foreign legal representative, a valid Colombian visa and a Cedula de Extranjeria. Verify the current list with the provider.

How to open an account

Register your company with the local Camara de Comercio, then obtain the RUT from DIAN so the company has a NIT.
Choose a provider and compare the options, checking the monthly handling fee, transfer and foreign exchange costs, supported entity types, credit and payroll needs, and deposit protection.
Apply online or in branch with the company and personal documents, complete the SARLAFT compliance checks, and confirm current terms before you start using the account.

Compare business accounts available in Colombia

These providers accept business customers in Colombia. Fees and eligibility shown as of 13 June 2026. Confirm current terms with the provider before applying.

Compare business accounts →

Questions about business banking in Colombia

Do I need a NIT and a RUT to open a business account in Colombia?

In almost all cases yes. A business account requires a company registered with the Camara de Comercio, the Chamber of Commerce, and a RUT, the Registro Unico Tributario, issued by DIAN, the tax authority, which assigns the NIT tax identification number. Banks also ask for the certificate of existence and legal representation, the articles of incorporation, and identification for the legal representative. Confirm the current list with the provider, as of 13 June 2026.

Can a foreigner or non resident open a business account in Colombia?

A non resident individual generally cannot open a company account directly. You normally need a company registered in Colombia, commonly a S.A.S., with a RUT and a NIT, and a legal representative. A foreign legal representative usually needs a valid Colombian visa and a Cedula de Extranjeria, the foreigner identification card. Banks apply enhanced checks under the SARLAFT anti money laundering rules. Verify your situation with the provider, as of 13 June 2026.

How much does a business account cost in Colombia?

It varies by provider and account type. As of 13 June 2026 traditional banks commonly charge a monthly handling fee, the cuota de manejo, of roughly COP 30,000 to 80,000, plus transaction and foreign exchange fees. Some digital wallets and fintech products carry no monthly fee. Deposit protection and the range of services differ, so compare carefully and confirm current terms with the provider.

What payment systems do Colombian business accounts use?

Accounts are held in Colombian pesos. Local transfers run through systems such as ACH Colombia, PSE for online payments, and Transfiya for instant transfers between participating institutions. Cross border platforms such as Payoneer and Wise help businesses receive payments from clients abroad. Confirm transfer costs and availability with the provider, as of 13 June 2026.

Fees, features, and eligibility change and vary by region. This page was last reviewed on 13 June 2026. Confirm current terms with the provider before applying.