life in MEDELLÍN
FINANCIAL RECOMMENDATIONS
FINANCIAL RECOMMENDATIONS AND A GUIDE FOR THE OPENING OF A BANK ACCOUNT IN MEDELLÍN
INTERNATIONAL STUDENTS
Before taking your trip, verify with your bank the following:
- Check if you can use your credit and debit cards in Colombia.
- Some banks require the activation of the cards for international destinations, ask your bank for permission if necessary before your trip to Colombia.
- Ask in your country of origin and corroborate the ATMs you can use.
- It is very important for your personal finances that you are aware of the international transaction fee in Colombian ATMs.
In case you are a foreigner temporarily residing in Colombia, the documents that will be requested by the banks will be the following:
- Foreign ID Card (the original) or passport certifying permission to stay in Colombian territory.
- Second document with a photo. It needs to be a document that has the identification of the applicant and includes a photo; for example, the driver’s license of the country of origin.
- Special Permit to Stay or Permiso Especial de Permanencia (PEP) – only for Venezuelans.
- E-mail address.
- Active cell phone line.
- Letter from the university indicating that the applicant is studying and stating how long he/she will be enrolled in the educational program.
Do not forget seek advice from the collaborators of the international relations office of your university when you go through this process.
Keep in mind:
- Some banks may require additional documents and/or a minimum amount to open a bank account.
- The procedure must be done in person at the bank’s offices.
- The details of the characteristics, benefits and transaction costs associated with the bank account should be consulted by the applicant at the bank.