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 possibilty 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.
SWIFT Country Code
Central Bank Name
Banco de la República