Sending Money to Colombia
There are several ways to send money from the U.S. to Colombia, one of which is to have a relationship with a US bank that is also present in Colombia.
If the recipient of the funds has an account with one of these banks, it might be a good idea to open an account locally with the same bank, as money being sent between accounts within the same bank is often processed quickly and at little or no cost.
Bank transfers between different banks aren’t difficult, but can entail a waiting period of up to 5 business days with higher costs.
Through banks, you can also initiate wire transfers to Colombia. A wire transfer gets the money to its destination quickly, but there needs to be a corresponding bank to receive the wire transfer. Fees can be very high for international wire transfers, but if the money needs to arrive quickly, this is a viable option.
Yet another way to send money regularly to Colombia is through an ATM or pre-paid debit card. This is not the best method in case of an emergency as it takes time for the card to be sent to the person receiving the funds.
The money can be withdrawn from a large network of ATMs in Colombia if the debit card has the PLUS or CIRRUS logo on the back. Only use an ATM card if you trust that the cardholder is not accessing funds without authorization. A pre-paid debit card is a more secure way of sending the exact amount of money intended for the recipient.
Online payment services such as ATM Cash are also a good way to send money to Colombia. These kinds of services allow you to inexpensively send money 24/7 from your own computer.
The above are some of the ways in which you can send money to Colombia.
Tags: money transfer colombia, wire money, debit card, send money to colombia