Despite how agile the system can be – of which it is known how withdraw money at ATMs– users should not forget that, even there, they are governed by the rules issued by the Ministry of Finance and Public Credit of Colombia.
Decree 222 of 2020, issued by the regulatory body, indicates that people who make use of banking entities they have to pay taxes if they want to save certain amounts of money.
How much money can a person have in Nequi?
As indicated the entity, a person could have and use —without charges— 8 current legal minimum wages: $ 7,268,208; this cap is free of 4 × 1,000, so no additional costs should be issued on transactions.
Steps to know the caps of nequî, according to the client
The entity adjusts to the needs of each user and, therefore, each account has different characteristics, which are classified as caps; To find out what they are, follow these steps:
- Open the app, which must be in its most recent version.
- In the main menu, tap on the diamond where it appears the available balance.
- Go to ‘All your money adds up‘and check what the maximum balance is.
How are the Nequi caps removed?
Here is the step by step to leave the account free of caps:
- Open the app.
- Double tap on the diamond it is on the available balance.
- Click on ‘All your money adds up‘and tap on’Break buffers‘.
- Once the menu is displayed, follow the menu and accept the terms, among which is the discount —only once— of $ 15.000.
- Close the application and wait for the cap data to refresh. This can take up to 15 minutes.
Note: any Nequi account that does not have caps must pay 4 × 1000.
When do you pay 4×1.000 in Nequi?
When the profile has stops, the person must pay 4x.1000 if they withdraw, send or pay more than $ 2,360,020 per month. If the user has no caps —similar to a savings account—, he only pays a tax when he uses more than $ 12,707,800 each month.
When the user does not have caps, he must pay the 4 × 1,000, unless the account holder makes the movements between Nequi and Bancolombia; This only applies if the owner of the two services is the same person.