Nequi fits most foreigners living in Colombia because it offers an optional physical Visa debit card, free withdrawals across Bancolombia automated teller machines (ATMs), and direct top-ups from PayPal. DaviPlata is the better pick if you receive remittances from abroad or already bank with Davivienda.
Both digital wallets accept a Colombian foreign resident ID (cédula de extranjería, or CE) or a temporary protection permit (Permiso por Protección Temporal, or PPT), while neither wallet lists a foreign passport as an accepted document. Both cap the basic low-amount deposit at 210.50 tax value units (Unidad de Valor Tributario, or UVT) each month, and both send free transfers to other Colombian banks through the central bank’s Bre-B network, settling within 20 seconds.
Nequi or DaviPlata: The Short Answer
Nequi is the better choice for most foreign residents because it pairs everyday mobile transfers with a physical Visa debit card, cash withdrawals across Bancolombia ATMs, and integrated incoming transfers from PayPal. DaviPlata fits foreigners who receive regular remittances from abroad or who already use Banco Davivienda for their personal banking.
Each wallet serves a distinct everyday profile:
- Choose Nequi if you want a Visa card you can swipe in shops and free cash withdrawals with an app code at Bancolombia ATMs. Nequi also converts United States Dollars (USD) from a PayPal balance into Colombian Pesos (COP).
- Choose DaviPlata if you want remittances from Remitly, Western Union, WorldRemit or similar companies credited to your phone number at no cost to you (the sender pays the remittance company’s fee), or if you need a daily ATM ceiling of COP 8,000,000.
- You can hold both wallets at the same time. To receive Bre-B payments in each, give each wallet a different Bre-B identifier (“llave”), because one llave links to only one account.
Nequi does not fit you if you expect more than USD 2,000 a month from abroad: that is the cap on its basic account. Nequi’s help article on converting to an uncapped savings account lists only the Colombian cédula de ciudadanía, so a CE or PPT holder has no published way past that cap. DaviPlata does not fit you if you want a plastic card to swipe in shops, because its tariff page publishes only a digital debit card. Neither wallet fits a tourist on a passport alone. Nequi lists the CE, PPT and Permiso Especial de Permanencia (PEP), and DaviPlata lists only the CE and PPT. Without one of those documents, use a foreign card and cash (credit cards and cash in Colombia).
Our recommendation would flip if DaviPlata published a physical debit card at a price close to Nequi’s COP 23,200, or if Nequi started charging for code withdrawals at Bancolombia ATMs.
Side-by-Side Comparison
Nequi and DaviPlata provide similar core digital wallet capabilities, but their fee schedules, card options, and banking parentage diverge.
| Feature | Nequi | DaviPlata |
|---|---|---|
| Operating Institution | Nequi S.A. Compañía de Financiamiento (Grupo Cibest) | Banco Davivienda S.A. |
| Accepted ID for Foreigners | Cédula de extranjería (CE), PPT, or Permiso Especial de Permanencia (PEP), adults 18+ | Cédula de extranjería (CE) or PPT (adults 18+) |
| Passport Accepted | Not listed on official documentation | Not listed on official documentation |
| Monthly Movement Cap | 210.50 UVT (COP 11,024,727 in 2026) | 210.50 UVT (COP 11,024,727 in 2026) |
| Debit Card | Digital card (COP 0); physical Visa card (COP 23,200) | Digital debit card (COP 0); physical card pricing not published |
| Card Management Fee | COP 0 (Nequi help center) | Not published (digital card activation COP 0) |
| Free Cash Withdrawals | Bancolombia ATMs and corresponsales with app code | ATMs and Davivienda corresponsales |
| ATM Withdrawal Limits | COP 2,700,000 a day, 10 withdrawals a month by default (Nequi article dated July 2025) | COP 2,000,000 per withdrawal, COP 8,000,000 a day |
| Bre-B Transfer Fee | COP 0 | COP 0 |
| Bre-B Transfer Limit | COP 3,000,000 per transaction | COP 3,000,000 per transaction |
| Bre-B Identifiers Supported | Phone number, email, CE or cédula de ciudadanía number, Nequi-suggested @ username (a PPT cannot be a llave) | Phone number, email, ID document (page does not say whether a CE or PPT qualifies), @Plata + phone number |
| Inbound Remittance Options | Allied remittance firms, PayPal USD conversion, Giros a un link | Direct mobile credit from 15+ providers (Western Union, Remitly, WorldRemit, Xoom) |
| Inactivity Charge | None published (no management fee on the basic deposit) | Up to COP 7,357 + IVA every six months after 12 months without movements |
| Deposit Insurance | Backed by Fogafín, per Nequi (Fogafín’s cap: COP 50,000,000 per depositor per institution) | Issued by Banco Davivienda (Fogafín coverage not stated on wallet pages) |
| Money From Abroad Cap | USD 2,000 a month, USD 2,000 per transfer (basic account) | Equivalent of COP 11,024,727 per transfer, day and month |
| Best Fit | You want a Visa card (digital free, physical COP 23,200) and free code withdrawals at Bancolombia ATMs | You receive remittances above USD 2,000 a month or need a higher daily cash ceiling |
Pick Nequi if a Visa card and free code withdrawals at Bancolombia ATMs matter most to you. Pick DaviPlata if you receive remittances above USD 2,000 a month or take out more than COP 2,700,000 in cash on one day.
Signing Up as a Foreigner
Opening either account requires legal residency documentation in Colombia, an active local mobile line, and a smartphone.
To open DaviPlata as a foreign resident, follow the steps published on the DaviPlata foreigner registration page:
- Download the DaviPlata application from your phone’s app store and select the option to register (“Registrarme”).
- Select your document type (cédula de extranjería or PPT) and enter your document number alongside your Colombian mobile phone number.
- Take a photograph of yourself and scan the physical identification card using your phone’s camera.
- Establish your four-digit numeric access key to complete the account creation.
Registration for DaviPlata is completely free. Foreign account holders operate under the same standard limits and fee rules as Colombian citizens, though DaviPlata notes that foreign clients cannot access credit lines or business profiles (“Mi negocio”) inside the app.
For Nequi, the onboarding workflow also requires scanning your physical CE or PPT, completing a mandatory facial-recognition photo, and verifying your local phone number by text message. Our Nequi for foreigners guide walks through each sign-up step.
Neither wallet lists a foreign passport as an accepted identity document. If you only hold a passport, our cédula de extranjería guide explains how residents get a CE.
Fees and Limits Compared
Both wallets operate primarily as low-amount deposits (depósitos de bajo monto), a financial category regulated under Colombian law.
The maximum monthly balance and transaction ceiling on a low-amount deposit is set at 210.50 UVT. The DaviPlata fees and limits page notes that 1 UVT equals COP 52,374 for 2026. Multiplying 210.50 by COP 52,374 establishes the 2026 monthly ceiling at COP 11,024,727. This ceiling covers your total cumulative balance, incoming credits, and outgoing debits within a single calendar month.
National financial transactions tax (Gravamen a los Movimientos Financieros, or GMF), commonly called the 4x1000, applies to both wallets once certain thresholds are crossed. According to Nequi’s 4x1000 regulatory update, transactions on a low-amount deposit incur the 0.4% tax once monthly outflows exceed 65 UVT (COP 3,404,310 in 2026). DaviPlata applies the exact same 65 UVT exemption threshold under national tax law.
Upgrades and other charges differ:
- Nequi allows users to lift monthly balance restrictions by converting the wallet into a full savings account (cuenta de ahorros). However, Nequi’s account conversion guide lists only the Colombian national citizenship card (cédula de ciudadanía) under its prerequisites, and the article does not list cédula de extranjería or PPT holders.
- DaviPlata lists a one-time fee of COP 15,000 including value-added tax (Impuesto al Valor Agregado, or IVA) on its tariff sheet to raise transaction limits.
- DaviPlata charges a maintenance fee of up to COP 7,357 plus IVA every June and December, but only to accounts that have recorded zero financial movements over the preceding 12 months.
- Nequi lists no management fee and no minimum balance on its basic deposit, and none of the Nequi help articles cited here mentions an inactivity charge.
Card fees also present a clear contrast. Nequi provides a free digital Visa debit card inside the application. If you want a physical plastic card delivered to your residential address in Colombia, Nequi charges a one-time fee of COP 23,200 including IVA, according to the Nequi card fee schedule. Nequi’s help center lists no monthly management fee (cuota de manejo) for the card and a delivery time of 7 to 8 business days. DaviPlata offers a free digital debit card for online transactions, but its tariff sheet does not publish pricing or availability for a physical plastic debit card.
Getting Cash Out
Both wallets let you take cash out for free inside Colombia: Nequi with an app code, DaviPlata at ATMs and Davivienda corresponsales.
Nequi lets you withdraw cash by generating a temporary six-digit numeric code inside the app. As detailed in the Nequi withdrawal guide, this code lasts for 30 minutes, is single-use, and requires an available account balance greater than COP 10,000. You enter the code on the screen of any Bancolombia ATM or provide it at an authorized banking correspondent (corresponsal bancario) such as Puntored or PTM.
Withdrawing cash via an app code at Bancolombia ATMs and corresponsales is completely free. Nequi became a separate company, Nequi S.A. Compañía de Financiamiento under Grupo Cibest, on September 1, 2026. Its independence page says withdrawals at Bancolombia ATMs stay free. Nequi’s ATM limits article, last edited in July 2025 before the separation, sets defaults of 10 withdrawals a month (adjustable up to 20), a COP 10,000 minimum and COP 2,700,000 a day. Nequi’s help center says you cannot withdraw Nequi cash outside Colombia.
DaviPlata provides cash withdrawals at ATMs and Davivienda correspondents. Its official tariff schedule lists the fee at COP 0. At ATMs and collection points, DaviPlata allows a minimum withdrawal of COP 20,000 and a maximum of COP 2,000,000 per transaction, up to a daily limit of COP 8,000,000. At Davivienda correspondents, withdrawals are also free, with a minimum of COP 10,000, a per-transaction maximum of COP 1,000,000, and a daily cap of COP 8,000,000.
On default settings, DaviPlata’s ATM ceiling of COP 8,000,000 a day is higher than Nequi’s COP 2,700,000, while Nequi’s COP 10,000 ATM minimum is lower than DaviPlata’s COP 20,000.
Moving Money Between Wallets with Bre-B
On October 6, 2025, Colombia’s central bank, the Banco de la República, launched the mass operation of Bre-B, the nation’s unified instant payment system (Sistema de Pagos Inmediatos).
Bre-B connects approximately 245 financial entities, including commercial banks, financial cooperatives, and digital deposit providers. Under central bank regulations (Resolución Externa 6 de 2023), transfers settle within 20 seconds around the clock, 24 hours a day, 7 days a week.
Transactions through Bre-B rely on unique identifiers called llaves. As established by the central bank, individuals can register four main personal llave types:
- A Colombian mobile phone number (10 digits starting with 3)
- An email address
- A national identification document number
- An alphanumeric username (such as @Plata in DaviPlata or a Nequi-suggested @ username)
Each individual llave can be linked to only one financial account across the entire Colombian banking system at any given moment. Nequi does not accept a PPT as a document llave, so a PPT holder registers a phone number, email or @ username instead. For example, if you register your mobile phone number as a Bre-B llave inside Nequi, you cannot link that same mobile number to DaviPlata. To receive Bre-B payments into DaviPlata, you must assign it a different identifier, such as your email address or DaviPlata’s “@Plata + phone number” handle.
Bre-B transfers are free for individual users sending money between Colombian institutions. According to Nequi’s Bre-B documentation and the DaviPlata tariff page, both wallets cap each Bre-B transfer at COP 3,000,000. The Banco de la República’s own cap is higher: 1,000 basic value units (Unidad de Valor Básico, or UVB) per transfer. At the 2026 UVB of COP 12,110 (Ministerio de Hacienda Resolución 3488 of 2025), that works out to COP 12,110,000.
When sending money from DaviPlata to Nequi, you open DaviPlata, tap “Pasar Plata,” select “Por Bre-B,” enter the recipient’s registered Nequi llave, and authorize the payment. Funds land within 20 seconds. Because Bre-B operates without manual acceptance steps, the money credits automatically into the receiving balance. Learn more about how the system works in our detailed guide to Bre-B in Colombia.
Receiving Money From Abroad
Foreign residents frequently need to move funds from home bank accounts in the United States, Canada, or Europe into their local Colombian wallet. Both wallets accept international inflows through distinct channels.
DaviPlata handles inbound international remittances. The DaviPlata remittances portal connects with more than 15 international money transfer operators, including Remitly, Western Union, WorldRemit, Xoom, Ria, Dolex, and Intermex. Senders enter your DaviPlata mobile number (omitting the +57 country code) at the remittance checkout. Inbound transfers are credited in minutes without receiving fees on the recipient’s end. DaviPlata caps inbound remittances at the equivalent of COP 11,024,727 per transaction, per day, and per month, matching the legal low-amount deposit threshold. If a remittance goes over these limits, DaviPlata says you can collect the money at a Davivienda office.
Nequi supports three primary mechanisms to receive funds from abroad, as outlined in its international money options directory:
- Allied Remittance Operators: Senders abroad can route international transfers directly to your Nequi account using your full name and ID document (CC, CE, or PPT). Funds arrive immediately when recipient details match perfectly, or in up to 2 days if data is incomplete.
- PayPal Integration: Nequi features an integrated link with PayPal, allowing users to pull USD funds from a PayPal balance and convert them directly into COP within the app.
- Giros a un Link: A specialized transfer tool for money originating in the United States, which requires the recipient to hold an active Nequi Visa debit card.
According to Nequi’s foreign incoming funds limits, inbound international transfers on a low-amount deposit are capped at USD 2,000 per month, with a single-transaction limit of USD 2,000. If you need to transfer larger amounts, explore our guide on how to send money to Colombia from the USA.
The Other Wallets: Nu, Dale and MOVii
Several other digital accounts and electronic wallets operate in Colombia.
Cuenta Nu, provided by Nu Colombia Compañía de Financiamiento S.A., is supervised by the Superintendencia Financiera de Colombia. The Nu Colombia home page shows a Fogafín deposit-insurance badge. A January 2024 Nu blog post lists the requirements as being 18 or older, a valid CE or PPT, an email, residence in Colombia and a Colombian mobile number. The Nu home page says you can send money free with Bre-B.
The digital wallet Dale is operated by Aval Soluciones Digitales S.A., a specialized electronic payment and deposit company (Sociedad Especializada en Pagos y Depósitos Electrónicos, or SEDPE). The Dale registration FAQ for foreigners confirms that foreign citizens can register using a cédula de extranjería or a PPT. Dale is the only wallet here that says outright a foreign passport alone is not enough. Dale also connects to Bre-B.
MOVii’s personas page says Colombians and foreigners can open an account, but it does not list which documents a foreigner needs. MOVii’s Bre-B llave registry lets users register llaves using their mobile number, email address, MOVii alias, or identity document (the Colombian cédula, tarjeta de identidad, or PPT). The CE is not on MOVii’s list of document llaves. MOVii emphasizes that registering Bre-B llaves is free and that any third-party request to pay for llave activation constitutes fraud.
Security and Account Protection
Nequi is supervised by the Superintendencia Financiera de Colombia. The Superintendencia Financiera authorized Nequi S.A. Compañía de Financiamiento as a credit establishment in Resolución 2002 of 31 October 2025. Nequi’s independence page says its deposits are backed by Fogafín deposit insurance, which Fogafín’s FAQ caps at COP 50,000,000 per depositor per institution. In official security advisories, Nequi reiterates that its representatives will never contact you by phone, WhatsApp, or email to request your account password, PIN, one-time security codes, or card security digits. If your smartphone is lost or stolen while traveling in Colombia, immediately block your Nequi profile by calling (+57) 300 600 0100.
DaviPlata protects the account with the 4-digit key you set at registration. Nequi’s Bre-B page says Nequi will not call you, send you links, charge you or threaten to block your account over llaves. The Banco de la República told the press that registering a llave is free and has no deadline, so any message demanding a fee or a quick click to register one is a scam.
To keep your mobile funds secure:
- Download wallet software exclusively from the official Apple App Store or Google Play Store.
- Never share temporary SMS codes, facial scans, or numeric PINs with individuals claiming to work for customer support.
- Set distinct PINs for your phone lock screen, your wallet app, and your debit card.
Next Steps for Managing Everyday Spending
If you hold a valid cédula de extranjería or PPT, start by opening Nequi to secure access to its digital and physical Visa cards and free Bancolombia ATM withdrawals. If you frequently receive transfers through international remittance services like Western Union or Remitly, set up DaviPlata alongside Nequi to receive fee-free transfers directly to your phone number.
Review our guide to payment methods in Colombia to understand when to swipe cards, when to scan QR codes, and how merchants process daily purchases. If you plan to move funds between different local banks, read our primer on Bre-B in Colombia to set up your transfer llaves correctly.
If you are moving to Medellín or Bogotá or buying a home there, contact the Colombia Desk team to plan the move with us.