Best Banks in Colombia in 2026

Colombia has a well-established, closely supervised banking system. The South American country has a wide mix of national and international banks and a dense network of branches and ATMs across the country.

The top bank in Colombia for you is really a matter of perspective. It all comes down to what you need most in a banking experience. That might be convenient locations, lower day-to-day fees, a solid banking app, or support for managing money between Colombia and abroad.

In this guide, we’ll break down some of the best banks in Colombia, what they offer, and who they tend to work well for.

Key takeaways

• Colombia’s banking scene has a handful of large players like Bancolombia, Banco de Bogotá, Davivienda, and BBVA Colombia, which hold a large share of total assets.
• The best banks in Colombia for foreigners tend to be larger institutions with strong digital banking and clear processes for non-residents or Colombians living abroad.
• State-owned Banco Agrario plays a key role in rural finance and now distributes many government social-transfer programs.
• Several big banks, including Bancolombia, Davivienda, and BBVA, offer dedicated services for Colombians overseas.
• Many customers pair a local bank account with a global money transfer service like Western Union to send money to Colombia

Comparing the best banks in Colombia

 

Top banks in Colombia

Below are brief overviews of several best banks in Colombia for foreigners and expats, including what they offer, standout details, and who they may suit best.

1. Banco Agrario de Colombia

Banco Agrario is Colombia’s state-owned agricultural development bank, created in 1999 to replace the former Caja Agraria and expand formal banking in rural areas. It operates close to 800 branches and serves much of the countryside with savings accounts, current (checking) accounts, and credit for farmers and small businesses.

The bank has also become the government’s main operator for distributing major social-transfer programs, helped by its presence in about 99% of the country’s territory. Customers can manage accounts via online banking and a mobile app, which support basic transfers and bill payments.

Strengths:

• Extensive branch network, including small towns and rural areas
• Experience with agricultural lending and government payment programs
• Simple savings and checking products, including a fully digital savings account

Ideal for:

• People living outside major cities who need nearby branches
• Customers receiving government benefits or rural subsidies
• Small agricultural producers and rural businesses looking for credit support

2. Banco de Bogotá

Founded in 1870, Banco de Bogotá is the oldest commercial bank in Colombia and a core part of the Grupo Aval financial group. It’s a universal bank, offering savings and checking accounts, consumer and business loans, mortgages, cards, and investment and trust services.

Over time, Banco de Bogotá has built strong coverage through hundreds of branches and ATMs and has also maintained regional links. For newcomers, its appeal is a mix of long history, corporate backing from Grupo Aval, and a full menu of retail and business products.

Strengths:

• Long-established national network with broad branch and ATM coverage
• Universal banking model with retail, corporate, and investment services
• Backed by Grupo Aval, one of Colombia’s largest financial groups

Ideal for:

• Expats wanting a long-standing, “traditional” local bank
• Professionals or companies needing business accounts and financing
• Customers who value in-branch service plus standard digital channels

3. Banco GNB Sudameris

Banco GNB Sudameris is a universal bank operating in Colombia, Paraguay, and Peru. In Colombia, it offers savings and current (checking) accounts, personal and commercial loans, and cards, supported by one of the larger service networks and access to over 2,600 Servibanca ATMs.

The bank is also known for its strength in payroll-backed loans (libranzas), a popular product for salaried workers whose repayments come directly from their paycheck. That mix can appeal to people with stable employment or companies looking for salary-linked credit options for staff.

Strengths:

• Presence in three countries with a universal banking model
• Strong position in payroll-backed lending and consumer credit
• Large ATM access through the Servibanca network

Ideal for:

• Employees interested in payroll-linked loans or bundled salary products
• Small- and medium-sized enterprises (SMEs) looking for commercial banking plus staff credit options
• Customers who want a bank with regional operations in the Andean region

4. Bancolombia

Bancolombia is the largest bank in Colombia by assets and one of the region’s most prominent financial groups. Founded in 1875, it now serves close to 30 million customers across Colombia and neighboring countries.

The bank offers a full range of services, including savings and checking accounts, loans, mortgages, investments, and business banking. It’s invested heavily in digital tools, including its “Mi Bancolombia” mobile app. Bancolombia also runs specialized products and service lines for Colombians living abroad.

Strengths:

• Extensive branch and ATM coverage
• Strong digital banking offering and instant payment integrations
• Dedicated solutions for Colombians abroad and international transfers

Ideal for:

• Expats or foreign residents who want a “big bank” with many service options
• Families juggling life between Colombia and another country
• Businesses that need advanced cash management and regional banking links

5. Banco Popular

Banco Popular is a Colombian bank founded in 1950 and now part of the Grupo Aval financial conglomerate. It focuses on retail and SME banking, offering savings and checking accounts, consumer and commercial loans, payroll and collection services, and cards.

Within Grupo Aval, Banco Popular benefits from shared technology and a national branch network alongside Banco de Bogotá, Banco de Occidente, and Banco AV Villas.

Strengths:

• Backed by one of Colombia’s largest financial groups
• Focus on consumer, payroll, and SME credit
• Access to a broad integrated network of branches and digital channels

Ideal for:

• Salaried workers looking for payroll-linked products
• SMEs that want simple business accounts within a large local group
• Customers who prefer a traditional bank with a strong local brand

6. BBVA Colombia

BBVA Colombia is the local subsidiary of the Spanish BBVA group and ranks among the country’s largest banks by assets, deposits, and loans. It offers standard retail products, including savings and current (checking) accounts, credit cards, and consumer and housing loans. It also has a well-developed mobile banking app.

The bank is a notable player in mortgages and consumer credit and has developed specialized housing-credit programs for Colombians living overseas. For customers who receive funds from abroad, BBVA’s foreign-exchange and international transfer services help convert and credit foreign currency to local accounts.

Strengths:

• Subsidiary of a major European banking group with global experience
• Strong position in consumer and mortgage lending in Colombia
• Digital tools and products aimed at Colombians living abroad

Ideal for:

• Foreign residents who are familiar with BBVA from other countries
• Colombians abroad planning to finance property back home
• Customers who value advanced mobile banking and FX services

7. Davivienda

Davivienda is Colombia’s third-largest bank by assets and has operations in six countries, including the United States and several Central American markets. It offers a variety of retail and corporate products, including current and savings accounts, cards, consumer loans, home loans and leasing, SME and corporate finance. It also has international-dollar accounts and tools for receiving money from abroad.

Strengths:

• Large regional footprint and diversified operations
• Strong digital banking and mobile experience
• Dedicated offering for Colombians in the exterior, including housing finance

Ideal for:

• Customers who want multi-country presence and international links
• Colombians abroad looking to buy property or keep savings in Colombia
• Tech-forward users who prioritize modern apps and online tools

8. Itaú Colombia

Itaú Colombia (formerly Itaú CorpBanca Colombia) is part of the wider Itaú group, a major South American banking franchise. The bank offers savings and current (checking) accounts, credit and debit cards, personal and mortgage loans, business loans, and online banking services to individuals and companies.

Strengths:

• Backed by Itaú’s regional expertise and capital
• Full-service retail and corporate banking offering
• Modern digital channels and ties to Chilean and Brazilian operations

Ideal for:

• Urban professionals seeking a bank linked to a broader South American group
• Companies needing commercial banking with cross-border ties in the region
• Customers who want a mix of in-branch and digital service

How to choose the right bank in Colombia

Picking among the best banks in Colombia for foreigners really starts with how you’ll live day to day. If you’re based in one city long term, you might care most about nearby branches, ATM access, or how easy the bank’s app makes it to pay bills and move money. If you’re running a business or freelancing, you may seek out SME accounts, credit lines, and simple tools for handling payroll or client payments.

Colombians abroad or new arrivals often look for banks that clearly explain ID requirements, offer some bilingual support, or promote products for clients overseas, such as mortgages for buyers living outside Colombia. It also helps to see how each bank handles international transfers and currency exchange.

If you earn or send money in dollars, checking the USD-to-COP rate and pairing your Colombian account with a global money transfer service like Western Union can give you more flexibility and payout options.

Send money abroad

A local bank account in Colombia is useful for daily spending, bills, and saving in Colombian pesos. For sending money abroad, though, many people also use dedicated transfer services.

Western Union can complement your Colombian bank by giving you additional options to fund and receive transfers. You can start a transfer online or in the Western Union^® app and choose how your receiver gets the money.

If you’re ready to move funds today, you can send money now and track your transfer in real time.