Dollar Account in Colombia: Your Options and What You Need to Open One
VIIO
Publish date: 10/15/2026
Last updated: 10/15/2026
Yes, you can have a dollar account while living in Colombia, but "dollar account" can mean three different things: a savings account at the foreign subsidiary or branch of a Colombian bank, a multi-currency account at a fintech, or an account whose balance consists of digital assets that track the dollar. Each is a different product with different requirements: Bancolombia and Davivienda require a Colombian citizenship ID (cédula de ciudadanía), BBVA requires you to be its customer, and fintechs and digital-asset apps accept other documents depending on the platform.
Editorial note: VIIO is one of the providers compared below. Every requirement comes from each institution's official pages or help center, so you can verify it independently before deciding.
The essentials, at a glance
In short: a dollar account from a Colombian bank is really an account at its Panama (or Puerto Rico) entity, opened from Colombia, and it requires a Colombian citizenship ID (Bancolombia, Davivienda) or being a BBVA Colombia customer. Fintechs and digital-asset apps (Global66, Wise, VIIO, Littio, ARQ) are the routes open to people with other documents, but only the bank accounts are bank deposits: in VIIO, Littio, and ARQ your balance consists of digital assets that track the dollar.
Will a bank in Colombia open a dollar account for you right here? The dollar accounts Bancolombia, Davivienda, and BBVA offer to people in Colombia are opened at their Panama entities (or Puerto Rico, in Bancolombia's case), even though you request and manage them from the Colombian app.
Which document do you need? Bancolombia and Davivienda require a Colombian citizenship ID. BBVA accepts Colombians and foreigners who are non-residents of Panama, as long as they are BBVA Colombia customers. Global66 requires a citizenship ID or foreigner ID card (cédula de extranjería) issued in Colombia. VIIO accepts a passport as an ID document for the sign-up process; Wise and Littio also accept it, with different conditions at each. ARQ requires a citizenship ID or foreigner ID card or, if you are a foreigner living in Colombia, a residence document.
Do you need to be a bank customer? At Davivienda, yes. At BBVA, if you are not a customer, you first enroll and then open the dollar account. At Bancolombia you can request it online on the subsidiary's website with your ID and proof of income, and if you are not yet a customer of the subsidiary, you enroll online. Fintechs and digital-asset apps are opened directly from their own app.
What a "dollar account" really is in Colombia
The Banco de la República's foreign-exchange regime (External Resolution 1 of 2018) defines which foreign-currency deposits banks operating in Colombia may receive. The list in that regime includes, among others, deposits from non-resident individuals and legal entities and from certain companies, such as international transport companies and travel agencies. The same rule allows residents to hold deposits in bank accounts abroad.
In practice, this is what you find today:
- An account at a bank abroad, opened from Colombia. This is a dollar savings account at the subsidiary or branch of a Colombian bank in Panama or Puerto Rico. The Panama ones are regulated and supervised by the Superintendency of Banks of Panama, and the Puerto Rico one by the Office of the Commissioner of Financial Institutions of Puerto Rico.
- A multi-currency account at a fintech. It gives you a balance in dollars and US account details to receive transfers. The company that holds the balance, and its regulation, depend on each platform.
- A digital-asset-based account. Your balance consists of digital assets that track the dollar, such as USDC or USDT. It is not a bank deposit.
Colombian banks with dollar accounts abroad
These are the options from Bancolombia, Davivienda, and BBVA:
| Bank | Where your account sits | What you need to open it |
|---|---|---|
| Bancolombia | Bancolombia (Panamá) S.A. or Bancolombia Puerto Rico Internacional Inc.; you choose the subsidiary | Be a Colombian with a citizenship ID, a resident of Colombia, and an individual (not a company); proof of income (employment letter, pension certificate, or tax return); no domicile, tax residence, or economic activity in Panama or Puerto Rico, depending on the subsidiary. No minimum opening amount |
| Davivienda | Banco Davivienda (Panamá) S.A. (International Savings Account) | Be over 18, hold a Colombian citizenship ID, and already be a Davivienda customer. Requested from the Davivienda Colombia app, no minimum amount |
| BBVA | BBVA Panama Branch | Be of legal age, Colombian or a foreigner who is a non-resident of Panama, be a BBVA Colombia customer (or enroll first), and make an initial deposit of USD 1,000 or more. During opening you complete forms, including a declaration of the source of funds |
A few things worth knowing before you choose:
- Supervision. Bancolombia (Panamá), Banco Davivienda (Panamá), and BBVA Panama Branch are regulated and supervised by the Superintendency of Banks of Panama. Bancolombia Puerto Rico Internacional is supervised by the Office of the Commissioner of Financial Institutions of Puerto Rico (OCIF), according to each bank.
- Deposit insurance. BBVA states that accounts and deposits established under Panamanian regulation do not have deposit insurance.
- Caps. Davivienda states that the maximum balance allowed in this account is USD 5,000 and that you can make transactions of up to USD 5,000.
- How you request it. In all three cases you request it through the bank's digital channels in Colombia. Bancolombia confirms opening within four business days.
If you live outside Colombia, check the requirements carefully: Bancolombia requires you to be a resident of Colombia.
Multi-currency accounts at fintechs
Global66. Your Cuenta Global includes a dollar account that works as a US checking-type bank account, with a routing number to receive transfers from the United States, and an IBAN to receive euros. To sign up in Colombia you need a citizenship ID or foreigner ID card issued in Colombia, and the process is 100% digital. According to its own legal information, custody and administration of dollar balances is handled by the company 100x, CORP., under Panamanian regulation; foreign-exchange services are centralized in Global 81 SpA, a Chilean company; and only the electronic deposit in pesos is offered by Global Colombia 81 S.A., supervised by the Financial Superintendence of Colombia and covered by FOGAFÍN.
Wise. If you live in Colombia, you can hold a balance in your Wise account and get USD account details to receive money. To verify your identity, Wise accepts a passport, national ID, or photo driver's license. Wise states that it is not a bank. Keep in mind that its card is not yet available to people who live in Colombia.
Digital-asset-based accounts
In these apps, your balance consists of digital assets that track the dollar. You can receive money from the United States with your own account details, but what remains in your account is digital assets, not a bank deposit.
VIIO. With VIIO you can receive payments from abroad into your virtual dollar account via ACH or Wire, or in euros via SEPA, and send, transfer, or spend with your VIIO Visa card. Your balance consists of digital assets such as USDC, USDT, EURC, COPM, or PAXG. To open your account you need a valid ID document (Colombian citizenship ID or the ID document of your country of residence, passport, foreigner ID card, or PPT (Temporary Protection Permit)) and to complete identity verification in the app. VIIO is not a financial institution, does not take deposits under Colombian regulation, and is not supervised by the Financial Superintendence of Colombia. The digital assets available on VIIO are not legal tender or foreign currency and are not covered by FOGAFÍN or any government guarantee. The VIIO Visa card is operated by Persimon S.A.S.
Littio. Littio lets you hold your funds in digital dollars, digital euros, digital pesos, and digital Mexican pesos. It is available to people who live in Colombia, Argentina, Chile, Mexico, or Peru, and you sign up with a cédula or passport. US account details, to receive ACH and Wire, can only be requested with documents from Colombia, Ecuador, Argentina, Mexico, Peru, or Chile. Littio states that it is a company incorporated in Colombia under the supervision of the Superintendence of Companies.
ARQ. ARQ is available to residents of Mexico, Colombia, Argentina, and Brazil. It gives you US account details to receive ACH or Wire, and the dollars you receive are converted into digital dollars in your account. ARQ clarifies that it is not a bank and does not take user deposits, and that in Colombia it reports to the UIAF (Colombia's financial intelligence unit). If you are a foreigner living in Colombia, it asks for a residence document or an ID document issued in Colombia.
To learn how to receive payments with each one, see our guide on receiving international payments in Colombia.
What you need to open each one
| Option | Document | How it's opened |
|---|---|---|
| Bancolombia (Panama or Puerto Rico) | Colombian citizenship ID; reside in Colombia | Mi Bancolombia app, Virtual Branch, or online on the subsidiary's website |
| Davivienda (Panama) | Colombian citizenship ID; over 18 | Davivienda Colombia app, customers only |
| BBVA Panama Branch | Of legal age; Colombian or a foreigner who is a non-resident of Panama | BBVA app, as a BBVA Colombia customer |
| Global66 | Citizenship ID or foreigner ID card issued in Colombia | App, 100% digital |
| Wise | Passport, national ID, or photo driver's license | Online |
| VIIO | Colombian ID or the ID document of your country of residence, passport, foreigner ID card, or PPT | App |
| Littio | Cédula or passport, with residence in Colombia, Argentina, Chile, Mexico, or Peru | App |
| ARQ | Citizenship ID or foreigner ID card; if you are a foreigner living in Colombia, temporary or permanent residence or another document issued in Colombia | App |
Who is each option for?
- If you want real dollars in a bank and hold a Colombian citizenship ID, the options are the Bancolombia, Davivienda, and BBVA accounts abroad. Check the initial amount, whether you need to be a customer, and each one's caps.
- If you receive payments from the United States and want your own account details to receive transfers, Global66, Wise, VIIO, Littio, and ARQ offer this, subject to each platform's requirements.
- If you are a foreigner with only a passport, Bancolombia and Davivienda do not apply, because they require a Colombian citizenship ID, and BBVA requires you to first be a BBVA Colombia customer. VIIO accepts a passport as an ID document for the sign-up process; Wise also accepts it, and so does Littio if you live in one of its countries. Read our guide for foreigners and digital nomads.
- If your goal is to save in dollars over the medium term, compare rates and yields in our guide on how to save in dollars from Colombia.
Frequently asked questions
Can I open a dollar account at a Colombian bank? Bancolombia, Davivienda, and BBVA let you open one from Colombia, but the account sits at their subsidiary or branch in Panama (or Puerto Rico, for Bancolombia) and is regulated by that country's supervisor.
Do I need to be a bank customer to open the dollar account? At Davivienda, yes. At BBVA, if you are not a customer, you first enroll with BBVA Colombia. Bancolombia lets you request it from the Mi Bancolombia app, the Virtual Branch, or online on the Bancolombia Panama or Puerto Rico website, with your ID and proof of income; if you are not yet a customer of the subsidiary, you enroll online.
Can I open a dollar account with a passport? At Bancolombia and Davivienda, no: they require a Colombian citizenship ID. At BBVA you need to be a BBVA Colombia customer, so confirm with the bank which document it accepts for enrollment. VIIO accepts a passport as an ID document for the sign-up process; Wise also accepts it, and so does Littio if you live in Colombia, Argentina, Chile, Mexico, or Peru.
Is a digital-asset account the same as a dollar account at a bank? No. At a bank you hold a deposit in dollars. In apps such as VIIO, Littio, or ARQ, your balance consists of digital assets that track the dollar; it is not a bank deposit. In VIIO's case, the digital assets are not covered by FOGAFÍN or any government guarantee.
Team note: this content is for informational purposes only and does not constitute financial or legal advice. Each institution's requirements and conditions may change; confirm them directly with each one before deciding.
Sources
-
- Banco de la República: Compilation of External Resolution 1 of 2018 (international exchange regime, updated to March 30, 2023)
- Banco de la República: External Resolution 1 of 2018 and its amendments
- Bancolombia: How to open a dollar account (help center)
- Bancolombia Panama: Dollar savings account
- Bancolombia Puerto Rico: Dollar savings account
- Bancolombia Panama: Online enrollment
- Davivienda: International Savings Account
- BBVA Colombia: Open your dollar account from Colombia
- Global66: Dollar account in Colombia
- Global66: How do I receive dollars and euros in my Cuenta Global? (help center)
- Global66: Identity document review (help center)
- Wise: Where do I need to live to hold money with Wise?
- Wise: Can I get USD account details?
- Wise: What will you need for ID verification?
- Wise: How our US entity, Wise US Inc., protects customer funds (help center)
- Wise: Can I get the Wise card in my country?
- VIIO: Frequently asked questions
- VIIO: Request your US and Europe bank account (help center)
- Littio: What is Littio? (help center)
- Littio: How do I create my Littio account? (help center)
- Littio: How do I request my US account details? (help center)
- Littio: Who are Littio's main partners? (help center)
- ARQ: What is ARQ? (help center)
- ARQ: Security and regulation, Colombia (help center)
- ARQ: How to send and receive payments from the United States (help center)
- ARQ: Does it work for foreigners? (help center)
- ARQ: What is a Bre-B key? (help center, registration documents)
