In Colombia, cash isn't dead — but digital wallets have become the primary payment method for everything from splitting a restaurant bill to paying your gym membership. Nequi and DaviPlata are the two dominant platforms, and as an expat, you'll need at least one. Here's how they differ and why most foreigners end up using both.
Nequi: The PayPal Bridge
Nequi, a wholly digital subsidiary of Bancolombia, is Colombia's largest mobile wallet with over 26 million users. It's the platform most foreigners encounter first because of one critical feature: PayPal integration.
For foreigners holding a valid Cédula de Extranjería, opening a Nequi account is fully digital — download the app, enter your CE number, take a facial biometric scan, and link a Colombian phone number. No branch visit. No minimum balance. No management fees.
The PayPal integration is Nequi's killer feature for digital nomads and remote workers — but the costs have climbed. The commission has increased to 7% plus IVA (19%), up from the previously cited 5%. At the effective rate, transferring $1,000 USD from PayPal to Nequi costs approximately $83 in fees. Community forums are filled with complaints about these rates.
A newer Payoneer integration launched in March 2025 charges a flat $3.00 plus Payoneer's own ~3% fee — but it reportedly requires Colombian citizenship by birth, excluding cédula de extranjería holders.
Other Nequi features for expats:
- Digital Visa debit card for COP 3,000 (optional physical card up to COP 25,000)
- Peer-to-peer transfers to any Nequi user by phone number
- Utility bill payments and mobile recharges
- Bre-B instant payment integration
- USDC stablecoin waitlist
- Loans up to COP 10 million (for qualified users)
- Stock investments via trii partnership
DaviPlata: The Remittance Champion
DaviPlata, backed by Banco Davivienda, transformed into a full neobank in October 2025 — upgrading from a simple digital wallet to a comprehensive financial platform. For expats receiving money from abroad, DaviPlata is often the better choice.
| Feature | Nequi | DaviPlata |
|---|---|---|
| CE Accepted | Yes | Yes |
| PayPal Integration | Yes (7%+IVA) | No |
| Remittance Partners | Ria, PayPal | 16+ (DolEx, Ria, Xoom, MoneyGram, WorldRemit, Remitly) |
| Remittance Speed | Varies | Under 1 hour, free for receivers |
| Credit Card | No | Yes (pre-approved for 1.6M clients) |
| NFC Payments | No | Yes (Android, works for SITP transit) |
| Savings Interest | Standard | 8.25% E.A. (savings pockets) |
| Physical Card Required | Optional | No (code-based ATM withdrawal) |
DaviPlata's standout advantage is its international remittance network. With 16+ partners including all major remittance services, funds sent from the US, Europe, or elsewhere arrive in under one hour with no fees for the receiver. This makes DaviPlata the ideal landing account for pension deposits, freelance payments, or family transfers.
The code-based ATM withdrawal feature is also uniquely practical — you can withdraw cash from any Davivienda ATM without a physical card, using a PIN code generated in the app. This is invaluable if your physical card is lost, stolen, or hasn't arrived yet.
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