20 Pesos

Banco de Occidente was a regional Colombian bank headquartered in Cali, one of several departmental institutions empowered to issue currency under Colombia's era of free banking that persisted until the Banco de la República's establishment in 1923. Waterlow & Sons handled a significant share of Latin American provincial bank printing during this period, and the quality of their intaglio work generally outstripped the notes these smaller banks could have sourced domestically.

By 1918, the clock was already running on institutions like Banco de Occidente — the 1923 monetary reforms would extinguish their right of issue entirely, making late-date examples from these regional banks the last of their kind.