Send Money To Colombia

Updated on September 13, 2020
Personal
Business
From
United States Flag
United States
USD
To
Colombia Flag
Colombia
COP
1 USD equals
3716.086 COP
09/13/2020 5:19 PM UTC
 
How much to transfer?
$1-1k
$1k-10k
$10k +
Provider
Features
Fees
Score
Speed
Transfer Now
WorldRemit Logo
  • Check Icon
    Bank account transfers and cash transfers
  • Check Icon
    Mobile airtime and mobile wallets top up
  • Check Icon
    Home delivery of transferred funds
  • Check Icon
    Multicurrency WorldRemit Wallet
  • Check Icon
    Multilingual website
$
$
$

medium

Fees
63
Speed Icon

fast

1-2 days

Less Information
+

Transfer Options

  • Bank Transfer
  • Debit / Credit card
  • Google / Apply Pay
  • POLi (Australia)

Features

  • Check Icon
    Bank account transfers and cash transfers
  • Check Icon
    Mobile airtime and mobile wallets top up
  • Check Icon
    Home delivery of transferred funds
  • Check Icon
    Multicurrency WorldRemit Wallet
  • Check Icon
    Multilingual website

Support

  • Phone
Support
Phone Icon
Phone
$
$
$

medium

Fees
Speed Icon

fast

1-2 days

Best For

  • Circle Check Icon
    Transfers to cash pickup locations
  • Circle Check Icon
    Transparent rates and fees
  • Circle Check Icon
    Low minimum transfer amount
  • Circle Check Icon
    No hedging tools
  • Circle Check Icon
    No scheduled transfers

Payoneer Logo
    $
    $
    $

    high

    Fees
    71
    Speed Icon

    medium

    2-3 days

    Less Information
    +

    Transfer Options

    • Bank transfer
    • Debit card
    • Credit card
    • Bank debit

    Features

      Support

      • Phone
      Support
      Phone Icon
      Phone
      $
      $
      $

      high

      Fees
      Speed Icon

      medium

      2-3 days

      Best For


      TransferWise Logo
      • Check Icon
        Transparent fee structure
      • Check Icon
        Send money to email addresses
      • Check Icon
        Multicurrency account with debit card
      • Check Icon
        Multilingual website & app
      $
      $
      $

      low

      Fees
      75
      Speed Icon

      fast

      1-2 days

      Less Information
      +

      Transfer Options

      • Bank Transfer
      • Credit Card
      • Debit Card
      • Country specific alternatives

      Features

      • Check Icon
        Transparent fee structure
      • Check Icon
        Send money to email addresses
      • Check Icon
        Multicurrency account with debit card
      • Check Icon
        Multilingual website & app

      Support

      • Phone
      Support
      Phone Icon
      Phone
      $
      $
      $

      low

      Fees
      Speed Icon

      fast

      1-2 days

      Best For

      • Circle Check Icon
        User friendly mobile app
      • Circle Check Icon
        Multi-currency account
      • Circle Check Icon
        Travel debit card
      • Circle Check Icon
        No scheduled transfers
      • Circle Check Icon
        No dedicated account manager

      How to send money to Colombia

      How To Step Icon
      Step 1
      Register only after comparing
      Register only after comparing
      Compare the leading companies that let you send money to Colombia.
      Choose the best alternative based on your specific requirements.
      Sign up as a personal or business customer.
      Register by providing some basic personal information and details from a valid form of identification.
      How To Step Icon
      Step 2
      Check exchange rate, initiate the transfer process
      Check exchange rate, initiate the transfer process
      Look at historical COP exchange rates.
      Get an exchange rate quote from your service provider by entering the amount you wish to transfer.
      Determine if you wish to transfer money to Colombia at this point in time. If you do, lock in the offered exchange rate.
      Give your service provider the recipient's bank account details.
      How To Step Icon
      Step 3
      Going through with the transfer
      Going through with the transfer
      Transfer money to your service provider first.
      Select the available payment method.
      The money is transferred to the recipient's bank account within a predetermined time frame.
      Track your transfer online or via text notifications.

      What you need to transfer money to Colombia

      Your service provider will require you verify your identity, for which you will need your driver's license or passport. If sending money to a recipient's Colombian bank account, you will need the bank account details. You will also need your debit/credit card or bank account details to pay for your transfer.
       

      Ways of receiving money in Colombia

      Residents of Colombia may receive money from overseas in different ways.

      • Through a bank account transfer
      • Via a cash transfer
      • As a mobile airtime top-up or in a mobile wallet

       

      Bank account

      The most affordable way of receiving an international money transfer in Colombia is directly into a local bank account. Processing time can vary based on how the sender pays for the transfer, the service provider carrying out the transfer, and the receiving bank. The top Colombian banks that allow incoming money transfers include Bancolombia, Banco Daviviend, Scotiabank, and Banco de Bogotá.

      To receive an international money transfer, the recipient's bank account must be enabled for overseas transfers. The recipient will need to submit an "Abono Automático"  form for this to happen.

      What you need to send money to a Colombian bank account

      The information you need includes the recipient's full name, a local bank account number, the name of the receiving bank, and its SWIFT code.

      • Colombian bank account numbers may have up to 16 digits.
      • A SWIFT code helps identify a particular branch of a bank. Example - The SWIFT code of Banco de Bogotá's Bogota branch is BBOGCOBB.

       

      Cash pick-up

      You might incur an additional fee or get a less favorable exchange rate if you wish to send money to a cash pick up location in Colombia. You will need to provide the recipient's name and select a suitable cash pick up center. The recipient needs to provide a valid form of ID and a transaction/reference number to collect the transferred money.

      Companies such as WorldRemit, Remitly, and Ria let you carry out cash transfers to Colombia. Here are addresses of some cash pick up centers.

      WorldRemit cash pick-up locations in Colombia 

      Bogota:

      Banco BBVA Colombia

      Cra. 9 #7235

      Bogotá

      Super Giros

      18, Cra. 7 #70 A

      Bogotá

      Medellin:

      Banco BBVA Colombia

      Cra. 66B ##34A-76

      Medellín

      Super Giros

      Cra 64A #78-580

      Medellín

      Remitly cash pick-up locations in Colombia 

      Bogota:

      Banco Daviviend

      Cra. 11 ##96-50

      Bogotá

      Exito

      Cra. 15 ##No. 123 - 30

      Bogotá

      Medellin:

      Banco Daviviend

      K43A #8-74

      Medellín

      Super Inter

      Cl. 103 #50-2

      Medellín

       

      Safety tips for picking up cash in Colombia

      Street crime remains prevalent in regions such as Medellin, Bogota, Cali, and the Caribbean coast. Instances of pick-pocketing and mugging are not uncommon. If you plan to collect cash from a physical location or want to withdraw money from an ATM, try doing so inside large commercial buildings, supermarkets, or banks. Remain particularly vigilant after dark.

      Exercise caution when visiting places frequented by foreigners and try to avoid visiting rundown areas of cities. Refrain from carrying large amounts of money and wearing expensive jewelry or watches.

       

      Mobile airtime top-up options

      You may send money to Colombia in the form of a mobile airtime top-up or to a mobile wallet. WorldRemit provides both these alternatives, and Xoom lets you top up mobile airtime. You may add airtime to Colombian phone numbers from service providers such as Virgin Mobile, Movistar, Uff Movil, Tigo, and Claro.
       

      Regulations when transferring money to and from Colombia

      While Colombia does not impose any foreign exchange controls on trade, it requires that some kinds of transactions should be channeled through authorized intermediaries such as banks and other financial institutions. For instance, the Financial Conduct Authority (FCA) that regulates companies registered in the UK also oversees transfers from the United Kingdom to Colombia. Transactions that need to be declared to Colombia’s Central Bank include:

      • Import and export of goods
      • Derivative financial operations such as forwards, floors, swaps, collars and caps
      • Guarantees and endorsements in foreign currencies
      • Overseas loans and related costs
      • Investments in foreign assets and securities and all associated profit
      • Investment of Colombian capital in other countries and associated remittances of yield
      • Investment of capital from other countries and the remittance of profits that follows

      When transferring money to a Colombian business, the recipient might need to provide its certificate of incorporation, its tax registration number, a document that illustrates its shareholding structure, and financial statements verified by an accountant.

      FAQs

      Best way to send money to Colombia

      The best way to send money to Colombia is to transfer it to the receiver's bank account. This is typically the most affordable way. Make your payment using a bank account transfer, as it tends to attract lower fees in comparison to payments made via debit or credit cards. Your best options to transfer money to Colombia include WorldRemit, TransferWise, Remitly, Global Reach Group and InstaReM.

      Cheapest way to send money to Colombia

      The cheapest way to send money to Colombia is via a bank account transfer. You pay through a bank account transfer, and the money reaches the recipient's Colombian bank account. 
       

      Best app to send money to Colombia

      The best app to send money to Colombia is the TransferWise app. The TransferWise app has  an intuitive user experience with its simple sign up and ID verification process.  WorldRemit is the best app to send cash and mobile pre-paid credit top up.

      Can I send money to Colombia using Venmo?

      You can not send money to Colombia using Venmo. Venmo facilitates money transfers only within the United States. Fortunately, you still get several other options from which to choose.

      Does PayPal work in Colombia?

      Yes, PayPal works in Colombia. However, it does not provide all its features in this country. Personal users in Colombia may use their PayPal accounts to shop online. By registering for a PayPal.Me link, they may receive money from friends and relatives who live outside of the country. Davivienda, a Colombian bank, lets PayPal users transfer their PayPal balances directly into their bank accounts, and they get to withdraw the money in Colombian pesos.

      Business account holders in Colombia may use PayPal to get paid for invoices as well as to receive payments through their websites and social networking platforms.

      Can I use PayPal to send money to Colombia?

      Yes, you can use PayPal to send money to Colombia. XOOM, a PayPal company, also lets you transfer money to Colombia.

      Can I use my debit card in Colombia?

      Yes. Foreign debit cards work in Colombia. When using your debit card, always choose to pay in Colombian Peso and not the debit card’s home currency. Paying in your home currency will cost up to 3% more. It is more expensive to let a third party convert your home currency to COP than your card provider. Ideally, you would use a travel optimised card such as the TransferWise debit card.

      Does Zelle work in Colombia?

      No. Zelle does not work in Colombia. Zelle is only available for US residents with US bank accounts.

      Convert USD to COP

      Check out the historical exchange rates for the last thirty days. Learn how much you can save by using a global money transfer company instead of the big banks.
      USD
      COP
      Sending money online through specialist money transfer companies.

      Expect to receive between CO$367892.54 and CO$370122.19 when sending money from USD to COP at today's exchange rate.

      Compare that to sending money overseas through retail banks. Expect to receive approximately CO$353028.19, not including additional banking fees. That is an average saving of CO$15979.17.
      Currency exchange rate in the last 30 days

      Need more information?

      Read useful guides on international remittance and more detailed reviews on the best money transfer services.

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