Nequi review
Updated September 28, 2026 · DebitCue Editorial Team · Facts checked September 26, 2026
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Our verdict
Nequi is a no monthly fee debit card run by Nequi S.A., aimed at everyday spending from a phone rather than at travellers or business banking. Its one differentiator is the virtual card card, which works alongside a debit card on the visa network. Treat it as a local spending wallet, not a currency account.
Key facts
- Best for
- Colombian residents who want a phone-first card with no monthly charge and a virtual card for online payments.
- Monthly fee
- COP 0 (Source, checked September 26, 2026)
- Card type
- Debit (Source, checked September 26, 2026)
- Card network
- Visa (Source, checked September 26, 2026)
- Legal entity
- Nequi S.A. (Source, checked September 26, 2026)
- Features
- Virtual card
- Official website
- nequi.com.co
Pros and cons
Pros
- The monthly fee is COP 0, so there is nothing to pay for keeping the account open
- A virtual card sits alongside the debit card, which covers online shops where a physical card is not handy
- The card runs on the visa network, so it is not tied to a single domestic scheme
- The provider is Nequi S.A., a named legal entity rather than an anonymous issuer
Cons
- The monthly fee is COP 0 but the account is set in pesos, so it is built for spending in a single market rather than across several
- The virtual card is the only extra capability listed, so there is no multi-currency or travel feature set to lean on
- The only other card detail listed is the visa network, which leaves little room to compare acceptance abroad
Who it suits
- Colombian residents paying everyday bills and shops from a phone
- Anyone who wants a virtual card for online payments alongside a physical one
- People who want no monthly charge and no annual fee to think about
Who should look elsewhere
- Travellers who need a multi-currency account, where Wise fits the brief better
- People building credit or wanting a card linked to a lending product, where Chime Card (Secured Visa Credit Card) takes a different route
- Anyone after a card that carries a rewards scheme, since none is listed for Nequi
How Nequi compares
Where Nequi is available
- Available
- Colombia
Countries from the brand (Source, checked September 26, 2026)
Frequently asked questions
How much does Nequi cost to keep open?+
The monthly fee is COP 0, so the account carries no standing charge. That puts it in the same cost band as most cards in the comparison, where the middle of the range sits at €0. The top of the range reaches €99, so a no-fee account is the cheaper side of the market.
Is Nequi a debit card or a credit card?+
Nequi issues a debit card, so spending draws on money already in the account rather than borrowing. The card runs on the visa network. The account is provided by Nequi S.A., which is the named entity behind the brand.
What can I do with the virtual card?+
The virtual card is the extra capability listed for this brand, and it sits alongside the debit card. It suits online shops and subscriptions where you would rather not hand over a physical card. Debit cards make up 74.3% of the cards on the site, with virtual variants a smaller 5.3% share.
How do Nequi cards compare with other debit cards on fees?+
The monthly fee is COP 0, which matches the debit card median of €0. The debit card range runs up to €83.23, so Nequi sits at the cheap end. The free ATM withdrawal allowance across debit cards has a median of €0, rising to €177.93 at the upper quartile.
Is there a currency conversion fee?+
No conversion fee is listed for Nequi, and the currency conversion fee median across the site is 1%, with a range from 0% to 10.5%. Debit cards specifically show a median of 1%. Since the account is set in pesos, the practical answer is to spend locally.
Is the money protected and who regulates it?+
No regulator, licence or deposit protection scheme is listed for Nequi, so there is no protection scheme to describe. That is worth weighing for anyone holding a balance. The account provider is Nequi S.A. Licence information in this comparison sits only on other brands.
Who is Nequi built for?+
The card is aimed at residents spending in a single market, with a debit card, a virtual card and a COP 0 fee. Business accounts make up 66.1% of the cards on the site and student cards 18.8%, so Nequi is not aimed at either group in particular. Kids cards account for a further 37.5%.
How do I compare Nequi with alternatives?+
All three cards compared here charge a monthly fee of COP 0, £0 and $0 respectively, so cost does not separate them. The differences sit in model: Wise targets multi-currency use, while Chime Card (Secured Visa Credit Card) and Varo Believe Secured Credit Card are secured credit products aimed at building credit.
Sources
- nequi.com.co checked September 26, 2026
Backs: Legal entity
- nequi.com.co/personas/paga-con-nequi/tarjeta-nequi checked September 26, 2026
Backs: Card type, Features, Monthly fee, Card network
Compiled from 2 source pages, checked September 26, 2026. We did not open an account.
Not confirmed yet: Currency conversion fee, Free ATM withdrawals, Protection.
Related by the facts
Nequi
Colombian residents who want a phone-first card with no monthly charge and a virtual card for online payments.