Ready to buy and sell in Colombia: account with no fees, instant payments, and today's dollar rate

Colombia is in football mode: the National Team debuts in the 2026 World Cup against Uzbekistan on June 17, at 9:00 p.m. (Colombia time), at the Estadio Azteca in Mexico City. But living in Colombia also means being, every day, in “transaction mode”: you rent, buy second-hand, sell what you no longer use, pay an independent contractor, receive payments. The practical question is: are you financially ready to move in the local economy?

Being “financially ready” for life in Colombia (and for the marketplace)

Before posting, buying, or selling on Colombia Move, it is worth having a plan for how you are going to move your money. In practice, it comes down to three things: a peso account with no maintenance fee, being able to transfer and receive instantly and for free, and—if part of your income or savings is in dollars— clarity on what your dollar is worth today. In Colombia, instant transfers between banks now work with Bre-B, the Banco de la República system that replaced Transfiya in October 2025: with a “key” (your cell phone, ID, or email) you send and receive in seconds, without sharing a long account number.

What is Nu and how it moves your money

Nu (Nubank) is a 100% digital bank with more than 5 million customers in Colombia. Its base product is the Nu Account, a savings account you open from the app:

• $0 maintenance fee and $0 opening cost.
• Free and unlimited transfers to any bank in the country via Bre-B (and instant between Nu accounts).
• Mastercard debit card physical and virtual; 100% digital opening in minutes, without credit analysis for the savings account.
• Deposits backed by Fogafín up to $50 million and entity supervised by the Financial Superintendence.

A key point for foreigners: you can open it with a cédula de ciudadanía, valid cédula de extranjería, or PPT (if you are of legal age, a resident in Colombia, and have a Colombian cell phone and email). The account and the “Cajitas” offer interest on the balance, but the rate changes with the Banco de la República's rate, so check the current one in the app. Two honest points: withdrawing at ATMs has a cost (around $6,800 per withdrawal; check the current rate), and Nu is a peso account, it does not hold or convert dollars.

“Football Mode”: Nu's campaign for the World Cup

Around the start of the World Cup, Nu launched its Football Modecampaign, with which—according to Nu's promotion—you could win prizes such as a trip to the Colombia match, among others. Nu's promotions change, have dates, and terms and conditions apply: check the current validity at nu.com.co/modofutbol and in their terms and conditions. What is always useful, with or without a campaign, is opening a free account to have your money ready.

Do you want to open a free Nu Account? You can apply with my invitation: 👉 Open my Nu Account (or scan the QR code). It is 100% digital, with no maintenance fee, and it takes a few minutes with your ID or PPT. Applying with an existing customer's invitation usually improves the probability of approval.

Tap to show the QR code

How to use all this on Colombia Move

A free account in pesos + instant payments fit the way transactions are made in a classifieds marketplace:

• Buying second-hand (a cell phone, furniture, a motorcycle, or a car): you pay instantly via Bre-B at the meeting, without carrying cash or waiting for interbank commissions.
• Receiving payments as a seller: you get transferred instantly to any bank, for free and without a card terminal. Before setting a price, see what your ad is worth.
• Rent and recurring services: pay rent or building administration fees to another bank with $0 commission. Plan it with your housing budget and check the rent increase allowed.
• Paying independent contractors (plumbing, cleaning, moving, or a service from the marketplace): you transfer instantly to their bank or wallet. Ask first: some prefer cash.
• Managing pesos when something is in USD: decide when and how much to exchange by looking at the live exchange rate (TRM) in dollar today, and keep a peso account to receive and spend. To convert USD→COP use a transfer service (for example Wise); Nu is your account in pesos.

A security note: instant payments are convenient but irreversible. Verify the item and the person before sending, and meet in safe places.

Frequently asked questions

Do I need to be Colombian to open Nu?

No. You can open a Nu Account with a cédula de ciudadanía, a valid cédula de extranjería, or a PPT, provided you are of legal age and a resident of Colombia with a Colombian mobile number and email address.

How much does it cost?

The Nu Account has no management fee or opening cost, and transfers via Bre-B are free. Withdrawing from ATMs does have a cost (check the current rate in the app).

Can I still win the Modo Fútbol trip?

Modo Fútbol is a campaign with its own dates and terms, and it is likely that that phase has already closed. Check the validity and terms at nu.com.co/modofutbol before counting on any prize.

Does Nu handle dollars?

No: it is an account in pesos. To go from dollars to pesos, use a transfer service and keep Nu as your account in pesos to receive and spend locally.

Transparency: the Nu link is a personal invitation/referral and could give me a benefit for referring. Colombia Move is not affiliated with or sponsored by Nu, and this is not financial advice; evaluate your own situation. Nu's terms and conditions apply.