Between April 2021 and March 2022, more than 370,000 Nequi users have used the PayPal + Nequi alliance to bring dollars from abroad. The total of these users has made 2.9 million transactions per year, with an average transaction of US$83.
With the increase in people working abroad and the digitalization of the world, more and more Colombians see the need for a product like this. María del Pilar Correa, Director of Strategy and Business Development at Nequiexplained that this alliance was created to “accompany our users in their day-to-day life and make their lives easier in managing their money and personal finances.”
He also explained that the platform has competitive costs where they charge 5% for the transaction and we never charge more than US$10. This taking into account that it is a safe and reliable way to bring dollars.
However, people who want to bring their PayPal dollars to Nequi must meet some requirements:
– Be of legal age with a Colombian citizenship card.
– Have a PayPal Colombia account, which must be in dollars.
– The tender ineffectual.
– Use the same email and the same personal data on both platforms.
“It is important that our users know that, being part of Bancolombia, we must share these limits, in case our users also have an account there. Therefore, it is a different scenario for each type of user. The annual limits depend if you are a common client with Bancolombia and if you have broken limits in Nequi or not. If you break limits in Nequi, this annual limit can go up to US$28,000 a year”.
Finally, users are recommended to take into account the hours for the operation of this service, which range from 4:00 am to 11:00 pm At the moment, the service does not apply to other currencies.
