This article provides information on sending money to Colombia and includes:
- The Colombian government's requirements for first-time recipients
- How recipients complete the Declaración de Pago
- What to do if you're sending to yourself
- The information you'll need to provide about your recipient
- Where you can send from
- How long transfers to Colombia take
- How much you can send
- The currencies you can send
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The payment methods you can use
The Colombian government's requirements for first-time recipients
The Colombian government requires all first-time recipients to complete a Declaración de Pago in order to receive an international money transfer.
This information confirms the identity of your recipient and allows them to receive international money transfers to their Colombian bank account.
How does my recipient complete the Declaración de Pago?
Your recipient should follow the steps below to complete the Declaración de Pago for their bank.
Bancolombia
Your recipient needs to activiate Abono Automatico in order to receive international money transfers.
Recipients should follow these steps to activate the service with Bancolombia:
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Visit www.grupobancolombia.com
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Choose Transactions from the menu on the right
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Click on People Virtual Branch
- Enter your username and password
- Choose Transfers followed by International from the menu at the top of the screen
- Click Set Up Automatic Subscription to start the automatic subscription activation process
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Click Next
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Click Activate automatic payment
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You will then see the Transaction Confirmation screen
After registration, there may be a delay of up to 24 hours before the account is ready to receive international transfers.
Banco de Bogota:
- Banco de Bogota account holders should complete this form to receive an international money transfer for the first time.
Other banks:
Our partner, Banco W, makes payments to all other banks in Colombia.
For large money transfers, senders may be asked to complete a form to show the origin of the funds. We have attached a copy of the form (the Declaración Voluntaria de Origen/Destino de Fondos) and a template which will guide you in completing the form correctly.
What information do I need about my recipient?
We'll need the information below to send money to a recipient in Colombia
- Your recipient's name
- Your recipient's address
- Your recipient's phone number
- Your recipient's email address
- Your recipient's tax identification number (Cedula)
- Your recipient's bank account number
- Your recipient's BIC/SWIFT
- Your recipient's bank account type
This will be the same for a recipient which is a business.
Where can I send from?
You can send money from any of our supported locations, as long as it is from a bank account in your name and matches your business purpose.
For example, If you hold a personal Xe account, you should only book personal transfers on here.
The funds must be settled from your personal bank account which is in the same name as your account with us.
The same applies to business transfers.
How long do transfers to Colombia take?
It takes between 0-3 days for your money to reach Xe, depending on how you pay for your transfer. Once we receive your funds we make payment to your recipient.
From this point, it usually takes 1-4 working days for the funds to arrive. This can vary depending on the recipients bank.
We will send you a notification at each stage of your transfer so you know where your funds are.
Learn more about how long it takes for your money to reach your recipient.
How much can I send?
There is a limit of COP 150,000,000. Please note that we can't facilitate transfers of COP to businesses. Learn more about send limits.
Which currencies can I send to this country?
COP mainly, but we offer multiple currencies as long as the recipient holds a bank account for the currency being sent.
Which payment methods can I use?
You can view our current payment methods page by clicking here.