According to experts, One of the main benefits of saving in dollars is the diversification of household finances. In Colombia, opening an account in dollars in a bank is not an easy task, since, for this, the entities must resort to subsidiaries abroad.
(Causes and consequences of the expensive dollar in Latin America, country by country).
To carry out this procedure, entities such as Davivienda, Banco de Bogotá, Itaú, Bancolombia, and Helm Ban, request a minimum opening price, which is between US$5,000 and US$25,000.
Davivienda has its mobile application that works in Miami, United States. From where you can request banking services, such as a credit card.
Banco de Bogotá has subsidiaries, such as New York Agency and Miami Agency, to open an account in dollars and make an unlimited number of transactions. Of course, the minimum opening value for natural persons is US$5,000, and for legal entities it is US$10,000.
Itaú allows the opening of an account abroad through subsidiaries, which functions as a investment account non-transactional in cities like Miami.
Bancolombia does not directly open accounts abroad, but rather through the Group’s subsidiaries in other countries. “Our offer of checking and savings accounts is in countries where Bancolombia has subsidiaries (Panama, Puerto Rico, Cayman), with a minimum deposit of US$7,000. Another requirement is to fill out the product request form – account, with supporting documents,” said the entity.
Helm Bank, for its part, operates in the state of Florida with different representative offices in Latin American countries. “The client can contact us and a commercial manager indicates the papers that are required to open an account from US$25,000,” said Claudia Serna, director of global banking at the bank.