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Banks: which ones charge the highest handling fees for their cards?

Some charge up to more than 100 thousand pesos per month for this service.

Financial Inclusion Study
Some banks in Colombia charge up to 100 thousand pesos today to use their credit cards. - Photo: Getty Images | Taken from

Knowing how much banks charge for one service or another, undoubtedly helps to optimize the use of money and to know for sure what is the best option to save it, invest it or request a service without there being room for regret later, when what it has vanishes, without being used for what is really needed.

Whether for a consumer loan, a credit card (which are ultimately very similar things), save money, use an ATM or carry a debit card; banks have fees for each of these items, which are charged through installments or the already known interests.

However, this seems absurd at a time when the so-called 'neobanks' are gaining ground in the financial market, offering these same services without additional charges, demonstrating that it is possible to grow only with the dividends that are achieved from the transactions and without resorting to to charges that many consider unnecessary.

According to the comparison of the main rates of credit establishments for the month of July, delivered by the Financial Superintendence, currently in Colombia there are banks that charge up to 100 thousand pesos for services such as the credit card handling fee.

What are the most expensive banks?

According to this report, Banco de Occidente has the highest rates with its Visa and Mastercard Platinum cards; for which he charges 102,833 pesos per month. This is followed by AV Villas, a financial institution that charges 97,400 pesos for its platinum credit card and again appears, in third place, Banco de Occidente in third place, charging 92,333 pesos for its Gold card.

Banco Caja Social and Pichincha are also part of this top of the banks with the highest charges for credit card handling fees. This is the complete ranking:

1. Banco de Occidente: 102,833 pesos (platinum card).

2. Av Villas: 97,400 pesos (platinum).

3. Banco de Occidente: 92,333 pesos (Gold).

4. Pichincha: 89,900 pesos (platinum).

5. Av Villas: 89,000 pesos (Gold)

6. Banco Caja Social: 89,050 pesos (platinum).

7. Banco Caja Social: 82,300 pesos (Gold).

8. Banco de Occidente: 80,333 pesos (Classic).

9. Av Villas: 79,000 pesos (Classic).

10. Banco Caja Social: 68,350 pesos (Classic).

How much do Colombians still prefer to keep money under the mattress?

Earlier this month, the Superintendencia Financiera (SFC) and Banca de las Oportunidades revealed the results of their 2022 Financial Inclusion Survey, carried out together with the Centro Nacional de Consultoría (CNC) between April and May of this year, in which changes are evident in the trends of use that Colombians currently give to money, as well as the means they take advantage of for this.

Through this survey, information was collected from 5,513 people over 18 years of age from all regions of the country, in order to know the perception of financial consumers regarding the quality and use of the different deposit, credit and insurance options, as well as as your preferences when making payments.

Through this survey it was found that 47.9% of Colombians keep their money in a savings account and, in an equal proportion, use a digital wallet. Likewise, 37.0% use a debit card and 9.2% a current account. The main reasons for choosing these options are marked by the ease and security that they offer to carry out different types of transactions.

According to the information collected, the most used financial channels in the country are ATMs (33.6%), followed by banking correspondents (33%) and digital media (Internet or mobile telephony -24.5%- ). Only 9% of those surveyed reported that physical offices are the option they most frequent to carry out their operations.

According to data from the 2022 Financial Inclusion Demand Survey, virtual channels are more widely accepted in the Central East region (51.3%), while banking correspondents are preferred by consumers in the Coffee Region (41.3%). 5 %). On the other hand, Internet transactions and ATMs are more used in urban areas, while in rural areas the preference prevails in money transfer companies.

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