Bancolombia is one of the largest and most recognized financial institutions in Colombia, and offers a wide variety of financial products, from savings accounts to investments, loans, and international services. However, as a Bancolombia customer, it is crucial to know how to withdraw your money quickly and safely, whether to make payments, transfers, or simply have cash available. In this comprehensive guide, we will explain the different ways to withdraw your money from Bancolombia and the details you should keep in mind for each method.
1. Withdraw cash from an ATM
The most common and easiest way to withdraw money from your Bancolombia account is through an ATM. Bancolombia has a wide network of ATMs throughout the country, making it easy to access cash without having to go to a bank branch.
Steps to withdraw money from a Bancolombia ATM:
Find a Bancolombia ATM: You can locate the nearest ATMs using the Bancolombia mobile app or on their website. Most ATMs are located in shopping malls, gas stations, and urban areas.
Insert your Bancolombia card: Insert your debit or credit card into the ATM slot.
Enter your PIN: You will be asked to enter your four-digit personal identification number (PIN).
Select the “Withdrawals” option: Once inside the menu, choose the “Withdrawals” option.
Choose the amount to withdraw: ATMs have a daily limit for withdrawals, usually between COP 400,000 and COP 1,000,000, depending on the type of account. Choose the amount you wish to withdraw.
Confirm the transaction: Review the details and confirm that the amount is correct.
Pick up your money: Once you confirm the transaction, the ATM will issue the cash. Don't forget to pick up your card and receipt.
Additional considerations:
Daily withdrawal limit: Each type of account and card has a specific withdrawal limit. If you need to withdraw more money than allowed, you will have to make several transactions or go to a branch.
ATMs from other banks: You can also use ATMs from other banks, but keep in mind that this may incur additional fees.
Cash availability: In some rural areas or at certain times of the day, ATMs may run out of cash. It is advisable to have alternatives in case this happens.
2. Cash withdrawal at a Bancolombia branch
If you prefer to make a withdrawal directly at a bank branch, Bancolombia also offers this option. Sometimes, this method is useful if you need to withdraw a larger amount of money than allowed at ATMs or if you do not feel comfortable using ATMs.
Steps to withdraw money at a branch:
Go to a Bancolombia branch: Find the nearest branch on the Bancolombia website or mobile app. Be sure to check opening hours, as they may vary by location.
Request your appointment: Once you arrive at the branch, go to the appointment machine and select the "Withdrawals" or "Customer Service" option.
Present your ID: When the teller assists you, you will need to present your ID card or the ID registered in your account.
Indicate the amount to withdraw: Tell the teller the amount of money you want to withdraw from your account. Don't forget to sign a withdrawal receipt.
Pick up the cash: After completing the transaction, you will receive the cash. Make sure to count the money before leaving the branch.
Advantages and disadvantages of this method:
Advantages: You can withdraw large amounts of money and receive personalized assistance in case of questions.
Disadvantages: It can be a slower process due to lines or wait times. Also, branches have limited hours.
3. Bank transfers and withdrawals by other digital means
One of the most convenient options for managing your money at Bancolombia is through electronic transfers, which allow you to send money to other accounts, both within Bancolombia and to other banks. In addition, with the digitalization of banking services, it is now also possible to make withdrawals through mobile applications or services such as Nequi or Bancolombia a la Mano.
Transfers to Bancolombia accounts
Access the app or the Virtual Branch: Log in to the Bancolombia mobile app or the Virtual Branch through a web browser.
Select the transfer option: In the main menu, select the transfer option and choose whether you want to send money to a Bancolombia account or another bank.
Enter the account details: If you are transferring money to another Bancolombia account, you will only need the recipient's account number. If it is to another bank, you will need to provide more information such as the account number, the name of the account holder and the receiving bank.
Confirm the transaction: Review the details and confirm the transaction. In some cases, you will receive a verification code via text message or email.
Money is transferred instantly: Transfers between Bancolombia accounts are usually immediate, while transfers to other banks can take a few hours or up to a business day.
International transfers
If you need to withdraw money from your Bancolombia account to send it abroad, you can also use the international transfer service. It is important to take into account the fees applied by the bank and the processing times, which may be longer than for domestic transfers.
4. Withdrawal without a card: Bancolombia a la Mano and Nequi
Another innovative option is cardless withdrawals using the Bancolombia a la Mano or Nequi apps. These digital platforms allow withdrawals without the need for a physical card, which is ideal if you have lost your card or simply don't have it on hand.
Bancolombia at hand
Download the Bancolombia a la Mano app: If you don't have it installed, you can download it from your smartphone's app store.
Log in to your account: Use your ID number and password to access your Bancolombia a la Mano account.
Generate a withdrawal code: In the main menu, select the “Withdraw without a card” option and generate a withdrawal code that you can use at any Bancolombia ATM.
Go to a Bancolombia ATM: At the ATM, select the cardless withdrawal option, enter the code and choose the amount to withdraw.
Nequi
Nequi is a digital wallet platform linked to Bancolombia. Through the Nequi app, you can transfer funds to a Nequi account and then withdraw the money at Bancolombia ATMs or authorized points.
Transfer money from Bancolombia to Nequi: In the Bancolombia app, select the option to transfer money to Nequi.
Generate a withdrawal code in Nequi: Once the money is in your Nequi account, enter the app and generate a withdrawal code.
Withdraw money: Use the code at a Bancolombia ATM or at an authorized payment point.
5. Commissions and charges associated with withdrawals
It is important to note that some of the withdrawal methods may incur additional fees. For example:
Fees for withdrawals from ATMs of other banks: If you withdraw money from an ATM that does not belong to Bancolombia, a fee may apply.
International transfer fees: Money transfers abroad have higher fees due to exchange rates and bank charges.
Fees for withdrawals abroad: If you use your Bancolombia card at an ATM outside of Colombia, you will have to pay additional fees and take into account currency conversions.
Withdrawing your money from Bancolombia is a simple and safe process if you know the available options and the steps to follow. Whether you prefer to withdraw cash at an ATM, make electronic transfers, or use digital platforms like Nequi, Bancolombia offers multiple ways to access your money efficiently. Always remember to check the fees associated with each method and make sure your banking information is protected. With this guide, you will be better prepared to handle your money with confidence.