Pay Day
The school salary year begins in August with payday around the 20th of each month. A schedule will be posted at the beginning of the year. On or about the 20th, you will receive an automatic deposit in your bank account (there are many banks in which we can open an account for you; however, there are a few that will expect a minor service charge for direct deposits from the school. The school uses Banco Itaú). Your payroll stub will be emailed to you directly.
The school will open a peso bank account (savings) for you soon after your arrival in Colombia, the details of which will be explained at that time (you need a cédula [Colombian ID card] before you can open an account). Finally, all banks in Colombia offer debit cards which may be used at almost all stores, including grocery stores, and for cash at automatic tellers throughout Colombia and the world, making the need for carrying cash much less important.
Most bank services can also be accessed online, including making transfers (to other Colombian accounts like your landlord) and paying bills. It’s the easiest way to take care of your day to day finances. We’ll have a workshop on accessing and using these services after you arrive.