Need to send money to Colombia? Are you considering a wire to transfer the money to Colombia? Before you visit your financial institution to do it, make sure you check the wire transfer fees. It might come as a shock as to how much the costs will be and depending on the amount, it might be better to have a look at the alternatives to forward the money by other methods.
What can make it more expensive is in addition to your financial institution adding a fee for sending the money to a place in Colombia, the individual getting the transfer of funds will possibly also incur a fee at their end. One way to reduce the possibility of the charge is to remit the international wire transfer in their designated currency.
To process a wire transfer to Colombia, you might need a SWIFT code. These are different codes for each bank and are based on things including the individual banking institution and country.
Bank wire details for Colombia
- Country – Colombia
- SWIFT Country Code – CO
- Central Bank Name – Banco de la República
- Currency – Colombian Peso
- Currency Code – COP