Nequi vs Up Bank.
Nequi (N75/100) and Up Bank (U55/100), scored on the same six pillars and compared row-by-row. Every cell is sourced from licence registers and live pricing pages, not opinion. A close tie.
| N Nequi №20 · Full Colombian banking licence via Bancolombia parent 75 /100 | U Up Bank №60 · PRA 55 /100 | |
|---|---|---|
| Score | ||
| Composite score Out of 100 | 75 /100 | 55 /100 |
| Fees | ||
| Monthly fee Cheapest paid tier (€0 if free) | €0 Free tier | €0 Free tier |
| FX markup Debit card abroad | 3.00% | Interbank |
| Free FX / month EUR equivalent | €0 | €0 |
| Free ATM Before fee kicks in | — | — |
| Protection | ||
| Banking licence Tier | Full bank | Payment inst. PRA |
| Deposit guarantee Per depositor | €50,000,000 CO.FOGAFIN | Safeguarded AU.FCS |
| Reach | ||
| Markets served Licensed jurisdictions | 1 country | 1 country |
| Crypto Coins available | No | No |
| Stocks & ETFs Self-directed | No | No |
| UX | ||
| Trustpilot Customer score | — | 4.0 ★ 2k reviews |
| App store iOS + Android avg | 4.5 ★ iOS 4.5 · And 4.4 | 4.8 ★ iOS 4.8 · And 4.7 |
| Read review → | Read review → | |
Pick Nequi if…
Bancolombia's digital banking arm — Colombia's largest neobank by user count (~17M). Operates under the Bancolombia full-bank licence; FOGAFIN cover applies. Mass-market reach + Bancolombia ATM network. The default Colombian neobank for COP-resident readers.
Pick Up Bank if…
Australian neobank built on top of Bendigo and Adelaide Bank's APRA-regulated charter — direct FCS AUD 250,000 cover via the parent. Strongest Australian neobank UX for under-35 consumers; budgeting and pay-day forecasting are best-in-class. No FX markup makes it travel-friendly.
- Best for fees Up Bank won 1 of 4
- Best for protection Nequi won 2 of 2
- Best for reach Tied
- Best for ux Up Bank won 2 of 2
Nequi vs Up Bank — FAQ
Quick answers to the four questions the search-bar asks most about a head-to-head.
Is Nequi better than Up Bank?
Nequi and Up Bank are tied 3–3 across 12 dimensions under our v3 methodology. Composite scores: Nequi 75/100 vs Up Bank 55/100. The right pick depends on which dimension you weight most heavily.
Is Nequi or Up Bank cheaper?
Monthly fee — Nequi: €0; Up Bank: €0. Card FX markup — Nequi: 3.00%; Up Bank: Interbank. Up Bank wins more fee rows (1 of 4). See the Fees section of the matrix above for ATM caps and the rest.
Which is safer for deposits, Nequi or Up Bank?
Nequi holds a Full bank licence under Full Colombian banking licence via Bancolombia parent (Superintendencia Financiera de Colombia regulated); FOGAFIN member, COP 50,000,000 cover per depositor. // TODO(verify).; deposit guarantee per depositor: €50,000,000. Up Bank holds a Payment inst. licence under PRA; deposit guarantee per depositor: Safeguarded. Nequi is the stronger pick on regulatory protection.
Where can I use Nequi and Up Bank?
Nequi operates in 1 country; Up Bank operates in 1 country. Check each provider's signup page for the live country list — eligibility depends on residency, not just the licence footprint.
Want a 3- or 4-way comparison?
The dynamic compare picker handles up to four banks. Add this pair plus one or two more and we'll resolve every row.