You've found an apartment. You've negotiated the price. Now the landlord asks: "¿Cómo va a pagar?" How are you going to pay? If you don't have a Colombian bank account — and most nomads in their first months don't — here are your actual options, ranked by practicality.
Option 1: Wise (TransferWise) — Best for Most Nomads
Wise lets you send money directly to a Colombian bank account in COP. The fees are transparent (typically 0.5–1.5% of the transfer amount), the exchange rate is mid-market, and the money arrives within 1–2 business days. Most landlords and agencies accept bank transfers, so this covers the majority of situations.
How it works: Your landlord gives you their Bancolombia or Davivienda account number. You initiate a transfer on Wise from your USD/EUR/GBP account. Wise converts at mid-market rate, deducts a small fee, and deposits COP directly into the landlord's account. Save the transfer receipt — it's your proof of payment.
If your landlord doesn't have a bank account (rare for formal landlords, but common for informal room rentals), Wise can also send to Nequi wallets via Bancolombia.
Option 2: Platform Payments (International Cards)
If you're renting through Blueground, Flatio, VICO, or Airbnb, you pay through the platform using your international credit or debit card. No Colombian bank account needed. This is the zero-friction option — the platform handles currency conversion, receipts, and dispute resolution.
| Platform | Payment Method | Currency | Notes |
|---|---|---|---|
| Blueground | Credit/debit card | USD/local | 15% booking fee, monthly billing |
| VICO | Credit/debit card | COP | All utilities included |
| Flatio | Credit/debit card | EUR | Deposit-free for stays under 180 days |
| Airbnb | Credit/debit card | USD/local | Service fees apply |
Option 3: Cash (Peso or Dollar)
Many direct-with-owner arrangements, especially informal ones, operate on cash. Exchange your dollars at a casa de cambio (exchange house) — never on the street. Major exchange chains in Bogotá include Dollar House and Cambios Country. Rates are typically within 1–2% of mid-market.
Some landlords will accept USD cash directly, applying their own exchange rate. This can work in your favor (if they need dollars) or against you (if they apply a poor rate). Always check the current TRM (tasa representativa del mercado) on the Banco de la República website before agreeing to any cash exchange rate. As of March 2026, the TRM sits around COP 3,675–3,700 per USD.
Cash safety tip: Never carry large amounts of cash through the city. If paying a month's rent in cash, go directly from the exchange house to your landlord's location, ideally with someone you trust. Bogotá is not uniquely dangerous, but visible cash attracts unwanted attention anywhere.
Option 4: Nequi (With Workarounds)
Nequi is Colombia's dominant mobile payment app (think Venmo/Cash App). Full functionality requires a cédula de extranjería (foreign ID card), which you won't have immediately. However, some users report partial functionality with just a passport. If your landlord insists on Nequi payments, try registering — worst case, it doesn't work and you fall back to Wise or cash.
Alternatively, you can have a trusted Colombian friend receive your Wise transfer into their Nequi and pay the landlord on your behalf. This adds a layer of complexity and trust, but it works.
Option 5: Western Union or MoneyGram
Expensive and slow compared to Wise, but available everywhere. The landlord picks up cash at a local branch. Fees run 3–8% depending on amount and speed. Only use this as a last resort if the landlord won't accept bank transfers and you can't do cash.
What About Opening a Colombian Bank Account?
If you're staying 3+ months, opening a Bancolombia or Davivienda account simplifies everything. Requirements vary by branch, but generally you need a valid visa (tourist visa may work at some branches), passport, proof of address in Colombia, and sometimes a RUT (tax ID number). The process can take 1–3 visits. Once open, you can receive Wise transfers at no additional cost and use Nequi with full functionality.
For building local credit history (relevant if you want to eventually sign a formal 12-month lease), use the "una cuota" strategy: request that all credit card transactions be processed in a single installment to avoid Colombia's high consumer interest rates while generating repayment data.
Frequently Asked Questions
Wise (formerly TransferWise) is the most cost-effective option for most people. It charges 0.5–1.5% with mid-market exchange rates and deposits directly into a Colombian bank account within 1–2 business days. Platform payments through Blueground, VICO, or Flatio are also competitive since the conversion is handled at close-to-market rates.
Only through platforms like Blueground, VICO, Flatio, or Airbnb. Traditional landlords and agencies expect Colombian bank transfers or cash. If you're renting direct-from-owner, you'll need to convert your dollars to pesos via Wise or a cash exchange house.
Not for paying rent itself. You can pay via Wise, cash, or platform payments without a RUT. However, you need a RUT to open a Colombian bank account and to sign formal utility contracts in your own name. Your landlord typically handles utilities for furnished short-term rentals.
Cash payments are common for informal and direct-with-owner arrangements. Always exchange money at a licensed casa de cambio (never on the street), go directly to your landlord to deliver payment, and get a signed receipt for every payment. For formal leases through agencies, bank transfers are expected and provide a clear paper trail.
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