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There are different methods to make international money transfers
Find the validation of El Cazamentiras at the end of the news.
The international remittances They play a crucial role in the economic support of many families. For those who want to send money from the United States to Colombiathere are several options, each with its own advantages and considerations.
Ease of use is essential; If you are not familiar with international transfers, a traditional option may be more suitable. If you're looking for simplicity, Remitly or Western Union are good choices. Ultimately, the key is finding the option that best suits your specific needs and financial circumstances. Here are the three easiest and cheapest ways to do it.
- Traditional bank transfers– This method involves sending money directly to an account in Colombia from a foreign checking or savings account. Although it is a common option, it is also the slowest and most expensive. The SWIFT code of the bank in Colombia is required, along with personal information of the beneficiary, such as name, ID, telephone number, city and account number. It is important to consult with the financial institution abroad about the procedures and associated costs.
- Money transfer companies: Specialized companies, such as Western Union, offer fast and efficient services. You can send money in minutes through physical offices or online platforms. You only need the recipient's personal information, such as their name and ID. Although convenient, be aware of the associated fees and limitations that some companies may have.
- Online platforms: Platforms such as PayPal or Xoom allow you to make shipments from the comfort of your home through electronic transfers between associated banks in Colombia. Although they offer speed and convenience, these platforms do not usually have physical offices to make cash transfers.
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You should choose the option that best suits your specific needs and financial circumstances.
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What to consider when sending money from the United States to Colombia?
The choice between these options will depend on individual needs and preferences. It is important to consider factors such as speed, costs, and ease of use when selecting the best option.
It is necessary to consider the commissions of the different money transfer services.
- Bank transfer fees: between US$12 and US$30.
- Remitly: Flat rate of US$3.99 for amounts from US$0 to US$499.
- Western Union: variable commission depending on the shipping method and amount.
- Wise: does not charge a commission for receiving money, except for wire transfers in dollars with a fixed rate of US$4.14.
- PayPal: The fee charged by PayPal to transfer dollars to Colombian pesos varies depending on the transfer method used. Through PayPal.com, the fee is 2.9 percent of the transfer amount, with a minimum of US$0.30; Through the PayPal App, the fee is 3.5 percent of the transfer amount, with a minimum of US$1.50.
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