Business banking fees in Colombia

What business accounts cost in Colombia

A Colombian business account fee usually has several parts: a monthly cuota de manejo at traditional banks, per transfer charges beyond any allowance, card fees, cash deposit and withdrawal fees, and currency conversion costs on foreign payments. Two charges are particular to Colombia. The four per thousand tax, the gravamen a los movimientos financieros, takes 4 pesos for every 1000 pesos withdrawn or transferred, a rate of 0.4 percent, and IVA applies on the commissions the bank charges. Traditional banks tend to bundle services into a monthly package and charge for extras, sometimes waiving the cuota de manejo above a minimum balance, while some digital providers advertise no monthly fee. Comparing only the headline fee can mislead, so add the items your business actually uses.

The cuota de manejo and the four per thousand

Traditional banks such as Bancolombia, BBVA Colombia, Davivienda, Banco de Bogota and Banco de Occidente commonly charge a cuota de manejo on business accounts, with the amount varying by package. The four per thousand applies on top, on money leaving the account. Individuals can mark a savings account as exempt up to a monthly limit set in UVT, the unidad de valor tributario, but company current accounts generally bear the tax, so plan for it on outgoing payments. Because pricing and tax limits change, read the current tarifario and confirm figures with the provider and a qualified adviser.

Transfers, cards, cash and IVA

Beyond the monthly fee, watch the per item charges. Local transfers may be free or charged per item depending on the provider, and instant payments through the Bre-B system are priced by each provider. A business debit card may be included or charged separately. Cash deposits and withdrawals often carry a fee. Foreign currency payments add a conversion cost, which cross border providers such as Wise, Payoneer and Airwallex price separately. IVA applies on bank commissions in Colombia, so the amount you pay includes tax on the fee.

Fees to check before you open

Look at these fee items before you commit, because the cheapest headline price is not always the cheapest overall. Verify with the provider

• The monthly cuota de manejo and whether it is waived above a minimum balance. Some digital providers charge none as of 19 June 2026.
• The four per thousand tax on outgoing payments, transfer fees and any free allowance, card fees and the cost of extra cards, and cash deposit and withdrawal fees.
• Currency conversion costs on foreign payments and IVA on commissions. Cross border providers such as Wise, Payoneer and Airwallex price foreign exchange and receiving separately. Verify current figures with the provider.

How to compare fees

1. List the transactions your business makes in a typical month: local transfers, card payments, cash, and any foreign currency. This is the basis for a fair comparison.
2. Read each provider tarifario and total the monthly fee plus the per item charges for your usage, then add the four per thousand on outgoing payments and IVA on commissions.
3. Check the cost of the items you use most, such as foreign payments or cash handling, since these often outweigh the headline monthly fee. Confirm the current schedule with the provider before opening.