For years, users complained that Nequi’s security was too lax—specifically the fact that a SIM swap or a stolen phone could drain an account via a simple OTP (One-Time Password). The SIC sided with a user who lost millions of pesos, forcing Bancolombia to retroactively.
In Colombia, saying “ Nequi ” is almost synonymous with sending money. With over 18 million users, the Bancolombia-owned app became the backbone of the informal economy, handling everything from empanada sales to salary payments. But recently, a new phrase has started trending on social media, causing panic in food stalls and office group chats alike: nequi withdraw
The "Nequi withdraw" phenomenon is not a bankruptcy. For years, users complained that Nequi’s security was