Banco de Occidente Colombia

Banco de Occidente Colombia is a Colombian bank that offers business current accounts, collections and business payments. Its main product for companies is the Cuenta Corriente Empresarial, denominated in Colombian pesos.

Operating settlements The account is intended for day-to-day operating settlements and payment management. The corporate range includes collection of receipts, so that a company can gather customer payments, and related services for automated payments, such as scheduled payments to suppliers and employees.

Overdraft An overdraft is available, but it is granted by a separate decision of the bank rather than automatically with the account. A company that needs working-capital credit should therefore apply for it separately and expect a credit review.

Who it suits The service suits Colombian companies that want to run collections and mass payments from a single current account. The material does not describe monthly fees, transaction charges, card products or opening requirements, and it names the peso as the only currency, so companies that need foreign-currency accounts should ask the bank what is available. Prospective clients should also request the list of channels offered for online administration.