Read our guide on everything you need to know about sending money to Colombia.
In this article, we’ll cover:
- What information do I need about my recipient?
- What is abono automático?
- Where can I send from?
- How long will it take?
- How much can I send?
- Which currencies can I send?
- Which payment methods can I use?
What information do I need about my recipient?
Information may vary, depending on the country you’re sending to. If sending to Colombia, we will require the following information about your recipient;
- Phone number
- Email address
- Tax identification number (Cedula)
- Bank account number
- BIC/SWIFT code
- Bank account type
This will be the same for a recipient which is a business.
What is abono automático?
The recipient needs to have activated abono automático, a free service, to receive money from abroad with Bancolombia.
This is a service which enables the bank to accept automatic deposits to the receiving account, allowing the recipient to receive the transfer.
Without it, the recipient will need to manually accept the transfer. Otherwise, you'll receive an error message.
How do I activate abono automático on my Bancolombia account?
To read more about Bancolombia and abono automático, please click here.
To activate the service on Bancolombia, just follow these simple steps:
- Go to the Bancolombia site and access your online banking login portal
- Enter your username and password
- On the menu bar along the top of your screen, select Transfers followed by International
- Click on Configure abono automático and you'll be prompted to fill out some information, including which account you want the service activated for, and the reason for receiving transfers
- You'll then be taken to a screen to review your own information
- Click Activate abono automático and you should be good to go!
Please note: It will take up to 24 hours for the recipient account to be able to receive money from this point onwards.
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 will it 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.
How much can I send?
You can view our existing limits on transfers by clicking here.
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.