Nu Colombia (Nubank) for Foreign Residents: Cedula Requirements, High-Yield Savings & Account Limits

Opening a brick-and-mortar account in your first weeks in Colombia often means notarized utility bills, a recommendation letter, and a clerk who does not recognize your visa category.

Nu Colombia, Nubank’s local financing company overseen by the Superintendencia Financiera, changed that for residents. Cuenta Nu is a branchless app with no monthly maintenance fee, free interbank transfers, and a savings pocket called Cajitas. The traps are the ID rule, the transfer ceilings, and the 4x1000 flag.

The Hard Requirement: Cédula de Extranjería vs. Passports

Before downloading the app, there is one non-negotiable rule every foreign applicant must understand: Nu Colombia strictly requires a valid Cédula de Extranjería (CE) or Colombian Cédula de Ciudadanía.

A 90-day tourist stamp (PT/PIP), or a wait for Cancillería to approve the visa, is not enough. The app matches the document to the civil registry, so a passport number or a foreign driver’s license stops onboarding.

To qualify for an account, you must hold:

• A valid physical or digital polycarbonate Cédula de Extranjería issued by Migración Colombia.
• An active Colombian cellular phone line (+57) capable of receiving instant SMS verification codes.
• An individual Colombian tax identification status (your CE number doubles as your personal tax ID for standard residential filings).
• Proof of being at least 18 years of age.

If you are an entrepreneur establishing a corporate entity rather than a personal account, note that personal neobanking accounts cannot hold company capital. In that situation, you will need to review our guide on opening a business bank account in Colombia for a new SAS corporation instead.

Step-by-Step Digital Onboarding for Expats

With the CE in hand, registration takes about ten to fifteen minutes in the official Nu app (iOS or Android) or at nu.com.co. Skip WhatsApp “expediters”; the flow is automated and free, and those messages are how people lose their data.

1. Download the App and Input Personal Data: Enter your full legal name exactly as printed on your Cédula de Extranjería, your Colombian mobile number, and your personal email address.
2. Document Scanning: Find a well-lit room without harsh glare. The application prompts you to take a live photo of both the front and back of your physical CE card. Ensure all four corners are visible and the barcode on the reverse side is crisp.
3. Facial Biometrics: You will complete a live selfie verification. Follow the on-screen prompts (blinking, turning slightly) to confirm your physical presence against your government record photo.
4. Address and Economic Profile: Provide your current residential address in Colombia and answer standardized Know-Your-Customer (KYC) compliance queries regarding your source of funds and occupational background.
5. Security PIN Creation: Select a secure 4-digit transaction PIN that you will use to authorize in-app transfers and debit card point-of-sale transactions.

Verification often clears in minutes, sometimes a couple of business days. The digital account and virtual card then turn on.

Cajitas Nu: High-Yield Daily Savings & Fogafín Protection

The reason residents open Cuenta Nu is Cajitas ("little boxes"). Ordinary checking accounts here pay almost nothing and still charge ledger fees.

The main balance stays liquid for the debit card. Move any slice into a Cajita in seconds. That pocket is walled off from the card, so a lost or skimmed card cannot drain the savings.

Cajitas credit compounding interest daily. Unlike a CDT locked for 90, 180, or 360 days, you can pull the money back to the spending balance immediately.

The 4x1000 (GMF) Tax Trap and Exemption Rules

One of the most jarring surprises for newly arrived expats in Colombia is the financial transaction tax known as the Gravamen a los Movimientos Financieros (GMF), commonly referred to as the 4x1000. Under this DIAN statutory rule, banks automatically deduct 0.4% (COP $4 per every COP $1,000) on all outgoing withdrawals, debit card spending, and outgoing interbank transfers.

Under Colombian tax law (Estatuto Tributario Art. 879), natural persons are entitled to designate one single savings account across the entire domestic banking system as exempt from 4x1000, up to a monthly outgoing ceiling of 350 UVT (Unidades de Valor Tributario). That monthly ceiling is the statutory cap for ordinary withdrawals and card spend; confirm the live UVT peso value with DIAN before you plan an unusually large month.

How to Mark Cuenta Nu as Exempt

Do not assume the waiver applies the moment the account opens. Ley 2277 pictured an automatic aggregate exemption, but legacy banks still do not share that flag reliably. Mark the account yourself:

1. Single Account Rule: If you already opened an account with another Colombian bank (such as Bancolombia or Davivienda) and marked it exempt, you cannot have two exempt accounts active simultaneously.
2. The Desmarcar Requirement: You must first contact your legacy bank's customer service or use their online portal to formally release the exemption (desmarcar la cuenta). This process can take anywhere from 1 to 3 business days to register in the national financial clearinghouse.
3. Activate in Nu: Once the other bank releases the flag, open Nu's in-app chat (Xpeers) and request the single 4x1000 exemption on Cuenta Nu. Only one account can carry that waiver.

Keeping tight records of these withholdings and exemptions is equally critical when filing your annual Colombian resident tax return; consult our detailed guide on DIAN Form 210 income tax declaration for foreign residents to understand how annual banking certificates integrate into your overall fiscal obligations. If the RUT is still missing, the registration steps are in how to register for a RUT with DIAN as a foreign resident.

Daily Spending: Debit Cards, PSE, and Velocity Limits

Cuenta Nu issues a contactless Mastercard debit card and virtual cards you can freeze in the app.

PSE and Bill Payments

Rent, fiber, mobile top-ups, and utilities (EPM, Enel, Acueducto) clear through PSE (Pagos Seguros en Línea). Nu charges no PSE fee. At checkout pick "Nu" or "Nu Colombia Compañía de Financiamiento", approve in the app, and the payment settles.

ATM Cash Withdrawals

Bre-B and card payments cover a lot, but street markets and corner shops still want cash. With the Nu Mastercard debit card:

• You receive one free ATM cash withdrawal per calendar month across Mastercard-network ATMs nationwide (such as Servibanca, Bancolombia, or Davivienda ATM terminals).
• Subsequent ATM cash withdrawals in the same month incur network service fees charged by the machine operator and Nu. Check the app’s live fee schedule before withdrawing repeatedly.

Velocity and Fraud Limits

Set a low daily cap for ACH, PSE, and card purchases in the app, and leave the bulk of the balance inside a Cajita. That limit is what contains a stolen phone.

How to Fund Your Nu Account from Abroad

Nu is a domestic financing company, not a correspondent bank, so Cuenta Nu cannot receive an incoming SWIFT wire. A USD, EUR, or CAD wire to the Nu account number from abroad is rejected.

Instead, foreign residents fund their accounts via three reliable pathways:

For an exhaustive breakdown of exchange margins, conversion fee comparisons, and bank compliance triggers when moving hard currency into Colombia, refer to our comprehensive walkthrough on how foreigners convert USD to Colombian pesos.

When You Still Need a Traditional Colombian Bank Account

Nu handles everyday spending with lower fees, and it still does not replace a full-service bank. Keep Bancolombia or Davivienda if you need to:

• Deposit Large Sums of Physical Cash: Nu has no physical branch counters. While third-party cash-in points exist via authorized partner networks, loading millions of physical pesos in cash is far simpler through a traditional teller window.
• Receive Direct Multi-Thousand Dollar SWIFT Wires: If you are purchasing Colombian real estate or funding a major commercial investment requiring statutory exchange declarations (Formulario 4 / Declaración de Cambio) with the Banco de la República, direct bank compliance departments handle large foreign currency wires better.
• Apply for Local Mortgages or Vehicle Loans: Neobanks focus primarily on unsecured personal credit cards and savings, not complex secured real estate financing.

I would keep the legacy account for large inbound wires and branch cash, and leave daily spend plus the Cajitas balance in Nu.

According to active listings on Colombia Move (September 2026), the electrodomésticos category shows 21 active ads and about 1,422 views in the recent window, so secondhand appliances are already being browsed while the account is being set up.

Frequently Asked Questions

❓ Can I open a Nu Colombia account with a foreign passport or tourist permit?

No. Nu accepts only an active Cédula de Extranjería or a Colombian citizenship ID. A passport or tourist stamp fails the registry check until Migración Colombia issues the card and you have a Colombian mobile line. Fuente: Nu Colombia, September 2026.

❓ Is my money safe in Nu Colombia if the neobank faces financial trouble?

Yes. Deposits are insured up to COP $50,000,000 per person by Fogafín. Nu is supervised by the Superintendencia Financiera, and the cap applies per depositor. Balances above that cap belong in a second supervised bank. Fuente: Fogafín, September 2026.

❓ How much interest do Cajitas Nu pay on savings?

Yields change. Interest is credited daily and the annual rate moves with Banco de la República. The historical band is roughly 9% to 13% E.A., not a fixed promise, so read the rate inside the Nu app. Fuente: Nu Colombia, September 2026.

❓ How do I avoid paying the 4x1000 tax on my Nu transactions?

Mark Cuenta Nu as your one exempt account in the app. That waives the 0.4% tax on debits up to 350 UVT per month under Estatuto Tributario Art. 879. It does not turn on by itself if another bank still holds the flag. Fuente: DIAN, September 2026.

❓ What happens if I already have another Colombian bank account marked exempt from 4x1000?

Release the other bank's exemption before you mark Nu. Only one account can carry the waiver, so desmarcar first and wait, often one to three business days, before switching it on in Nu. Fuente: Nu Colombia, September 2026.

❓ Can I receive direct international SWIFT wire transfers into Nu Colombia?

No. Cuenta Nu cannot take a direct international SWIFT wire. Send USD through Wise or Remitly so pesos arrive by local ACH, then move that balance into Nu. Fuente: Nu Colombia, September 2026.