Expat Community > Colombia

ChrisMDE
Joined 2022
Posts: 347

Bancolombia (again)

2 years ago

Bancolombia is incredibly annoying. As of November 1, they started deducting a small amount every day from my savings account with the description "retencion en la fuente." They only take out 1, 2, 3, or 4 pesos, but still. Is anyone else experiencing these small deductions? I know the translation is withholding tax on transactions, but what does that mean?

Add to that they started charging an ATM fee at their own ATMs around 6 months ago to make them one of the most despicable banks in the galaxy.

And fwiw, I'm the anal type and track my banking in a spreadsheet. For the past 3+ years of balancing it almost daily, it is always off at the end of the month by up to 10mil pesos, with no rhyme or reason. I double-checked and there's no error on my end.

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