5 Pesos

Banco de Occidente was a regional Colombian bank based in Cali, one of several private banks of issue that operated under the country's decentralized banking regime before the establishment of the Banco de la República in 1923. The creation of a central bank that year effectively ended the note-issuing privileges of all private Colombian banks — meaning this 1921 issue was printed just two years before the entire system it belonged to was abolished.

Waterlow & Sons handled a large share of Latin American private bank printing in this period. Whether Banco de Occidente managed to issue the full print run before conversion is not conclusively documented.