Bancolombia

Rikito says on Oct 11, 2007, 16:10:

Nope...it is against the law in Colombia for anyone to deposit money into another persons bank account. I use Western Union and send directly to my mother-in-law....it's very simple and safe. There are other ways also...just do a search in herfe on "sneding money to Colombia and you can see several ways to send.

It is not life that matters, but the journey.

Grateful Dead says on Oct 11, 2007, 16:15:

kthx

Tinto (Moderator) says on Oct 11, 2007, 16:17:

I think you're partially correct, Rikito.

It's easy to use Moneygram and have the person pick up the funds at Carulla or one of the hundreds of other agents. But it's also **possible** to send money to another person's bank account. Maybe not through Moneygram, but I've used the service below before and sent directly to a Conavi account (now part of Bancolombia). I used it two or three years ago and the draw was made on my checking account and deposited into an attorney's Conavi account. It could be that the law has changed...I only used the service once or twice.

http://www.viamericas.com/pa_become.htm

tomtom33 says on Oct 11, 2007, 16:24:

Gee whiz, I deposited money to buy my apartment in Medellin into my novia's Bancolombia account in January. My rental agent in Cartagena regularly deposits my rental receipts into the same Bancolombia account. I have been making deposits into this account for 3 years now.

Rikito, maybe you had better explain Colombian law to Bancolombia.

pedro says on Oct 11, 2007, 16:36:

Depositing money into someone else's bank account is called a consignacion. Go into any Colombian bank and you'll see it happening all day long.

que nota!

Grateful Dead says on Oct 11, 2007, 16:39:

Now I'm REALLY confused.


lol

Rikito says on Oct 11, 2007, 16:40:

Ok folks...let's put it this way.
1) Can you deposit money? Yes. The easiest thing in the world to do is to put money in a bank...but getting it out is another thing.

2) It is against the law to deposit money into someone else's bank account in the Republic of Colombia. The law has not changed and it is not new. If the account holder is found to have had money deposited into thier account by soneone other than themself they can be in deep doo doo if the government finds out. It's another way of money laundering for the FARC drug pricks.

3) It is against Colombian law to deposit money into someone else's bank account. No other way around it.

It is not life that matters, but the journey.

pedro says on Oct 11, 2007, 16:42:

When you pay DAS for visa extensions etc, you go to Bancafe and pay an amount into their bank account. Consignacion. Is that illegal?

Same thing when I got my visa for Brazil while in Bogota. Consignacion into a bank account.

que nota!

Rikito says on Oct 11, 2007, 16:53:

I do not know what 'Consignacion' is unless you take ExLax to get rid of it.

There may be some government or official schemes that allow for some deposits, but what I think "Greateful Dead" is asking is...can he deposit money into a: friends, his novia, his mother, etc. bank account? NO, you cannot! I had this explicitly explained to me by the General Manager of Citibank Colombia.

Just send the money via Western Union or something similar. You are not the one who can get into trouble...the receiver is.

It is not life that matters, but the journey.

Grateful Dead says on Oct 11, 2007, 16:59:

See the thing is I don't want to have the recipient get money from a place where she is going to have to walk with the money on the street and go and make a deposit into another place in the city .

Rikito says on Oct 11, 2007, 17:16:

What city? I go to ATM's all of the time in Bogota and Armenia and never had the hint of a problem. How much are you sending....$10,000USD? If she goes to the location at lunchtime and maybe with a friend she won't have a problem. Get the loot and take a taxi to her bank.

Don't get caught up in all of the crap you read in here and elsewhere about people in Colombia getting robbed of thier money right on the street in the the middle of the day. Does it happen...sure it has, but it happens in Chicago, Denver, LA and Philly too.

It is not life that matters, but the journey.

Grateful Dead says on Oct 11, 2007, 17:28:

"What city? I go to ATM's all of the time in Bogota and Armenia and never had the hint of a problem. How much are you sending....$10,000USD? If she goes to the location at lunchtime and maybe with a friend she won't have a problem. Get the loot and take a taxi to her bank."



yeah right

Morrongo says on Oct 11, 2007, 17:34:

depends on the amount..you can transfer direct Internationally,but there is a ceiling limit so it usually is more economical to wire by Western Union or other.For larger amounts of money ie house purchase ,car, business purchases ...the money has to be give a clean bill of health,by producing a legal contract what the money is needed for. This is then registered with the Banco Repubilca de Colombia. Thats the bones of it!

Rikito says on Oct 11, 2007, 17:43:

This is my last comment. You cannot deposit money into another person's bank account in Colombia. It is against the Colombian law and the reciever is in serious jeaparody if caught.

I have been sending money to Colombia via Western Union for five years to my then novia and now wife, my mother-in-law, and a friend of my wife's. They all had to go to a Western Union office to get the money and no one ever had a problem. And believe it or not, my wife's friend cannot see...he is blind.

As an alternative, you can open a bank account in the US in your sweetie's name and deposit money there. Then she can use the debit card that you send her to get her moeny. But of course she will still have to go through the line of muggers, robbers, killers, rapist's, and druggies that line all of the colmbian streets.

It is not life that matters, but the journey.

Gator says on Oct 11, 2007, 19:03:

Why would anyone use Western Union, especially for FIVE YEARS? The fees would make the Mafia blush. Moneygram is cheaper.

Yes you can transfer funds but getting it set up will be a hassle-swift codes, signature authorizations and the inevitable Colombian screwup at least once. Best bet, as pointed out by Rikito, is an ATM card and you deposit the funds in the USA

"Brevior Sltare Cum Deformibus Mulieribus Est Vita!" .

Robert Jorge says on Oct 11, 2007, 19:26:

I deposited money ($500 US) into a Colombian's bank account once, about two years ago. I went to a little place here in the US that caters to mainly Latinos, told them I wanted to send the money to be deposited into such and such account. I walked out 5 minutes later, called the person in Colombia, said the transfer was done, and the next day she had 1.2 million pesos in her account. If that is illegal ... well there is a dentist / orthodontist in Villavo and Acacias that committed a crime.
*just to put to rest the snide comments before they start - It was a friend who needed money for post grad school. Paid back in full 2 months later, cash.

--"I believe in making the world safe for our children. But not for our children's children, because I don't think that children should be having sex." - Jack Handy

cassini77 says on Oct 12, 2007, 00:53:

Rikito, give us the reference of this law (number, date) ...

tomtom33 says on Oct 12, 2007, 03:00:

Rikito, did it ever occur to you that the manager was wrong or that you misunderstood? Any Bancolombia account holder can make a deposit into the account of another online.

It is not, I repeat NOT, illegal. I guaranfuckingt that Bancolombia would not have a function for all of its online banking customers that would violate Colombian law.

Getting the funds released from my apartment purchase was a hassle. Getting any of the smaller amounts released was never any problem what so ever. I can assure you that my novia is not in jail.

tomtom33 says on Oct 12, 2007, 04:09:

One of the big problems is that no one in Colombia including government officials know what Colombian law says. I have had the laws pertaining to exranjero bank accounts explained to me by 3 different Bancolombia branch managers. Each had a different interpretation. None would admit that they didn't know.

Once I had to pay my attorney to explain Colombian immigration law to the Chicago Deputry Consul of the Colombian Embassy. That was money ill spent as the Deputy Consul took umbrage at the correction and essentially froze me out.

Now this shit happens in the US as well. But it is not nearly so problematic. Even with the IRS, routine questions are answered correctly and uniformly. Yes, the IRS gives wrong answers. But the tax codes were written by committee and reconciled by committee. Then continually changed and re-interpreted. Even scum-bag lawyers have to make a living.

Grateful Dead says on Oct 12, 2007, 08:55:

Yeah the Banking laws in Colombia are dumb.

Gator says on Oct 12, 2007, 08:59:

Riko,

Our bank manager would also like to know the law or decree you cited. Citybank Bogotá

"Brevior Sltare Cum Deformibus Mulieribus Est Vita!" .

robi666 says on Oct 12, 2007, 09:11:

"Getting the funds released from my apartment purchase was a hassle."

The banks are responsible to detect and avoid money laundering.
They will always ask for:
prove of where the money come from (bank documents, work documents, pension documents, etc.)
prove of what the money is being spend for (pre purchase agreements, prediales for real estate, etc.)

Managers will have to file a dossier and wait for an authorization from the central office of their exchange department in Bogotà. Some days required.

Also, at least once when opening your account, you will be asked to sign a document in which you declare that your money are not coming from a narco-traffic related activity.

I had the manager of my bank visiting me at home to check the way how was living.

After one or two transactions, everything will be handled easier. Also, you will be able to receive automatically (that is without visiting the bank) transactions under or equal to 10,000 USD.

"I am a citizen of the most beautiful nation on earth. A nation whose laws are harsh yet simple, a nation that never cheats, which is immense and without borders, where life is lived in the present."

Mr. Hollywood says on Oct 12, 2007, 09:15:

I've certainly wired money from the US into peoples' Colombian bank accounts and never had the bank bat an eye.

Grateful Dead says on Oct 12, 2007, 09:36:

I just called Bancolombia , Rikiti was wrong , you can send up to $20,000 a year from the US into someone's account , it goes thorugh Citibank in New York, this is what you need.

1. Citibank Rounting Number
2. aba Number
3. Central account number for Bancolombia
4. Recipients account number
5 .Recipients Telephone number.

Limit 5k a month total limit 20k a year.

robi666 says on Oct 12, 2007, 09:48:

Jerry Garcia,
I guess that's a limit of money that you can get in Bancolombia without filing form 5 or 4.
You can get as much money as you'll need. Think about when you buy an apartment...
You'll eventually have to pay taxes on it, of course, depending who's receiving money, and the way they are justified with form 5 or 4.

"I am a citizen of the most beautiful nation on earth. A nation whose laws are harsh yet simple, a nation that never cheats, which is immense and without borders, where life is lived in the present."

Grateful Dead says on Oct 12, 2007, 09:55:

Jerry Garcia lol ...............I wish


thanks robi

Viva Italia

robi666 says on Oct 12, 2007, 10:14:

;-)

"I am a citizen of the most beautiful nation on earth. A nation whose laws are harsh yet simple, a nation that never cheats, which is immense and without borders, where life is lived in the present."

Gator says on Oct 12, 2007, 14:13:

Notice"! Still no answer from Riko

Thanks GD, that all we ever provide and though we do make contact with the manager to fill him in on what's taking place..

"Brevior Sltare Cum Deformibus Mulieribus Est Vita!" .

Boatygringo says on Oct 12, 2007, 15:00:

On Tuesday this week I deposited a large amount of Dollars into some one elses account that I control by wire tranfare. The money is now in the account at BBVA and there was no problem.

Boatygringo

bogjudge says on Dec 12, 2007, 16:27:

To get my cédula I had to deposit pesos into the DAS account with Banco Sudameris. I tried to tell DAS that the PBH expert had vetoed this process, but they insisted I follow the law. I also have the option of paying some of my utility bills in the same fashion.

Perhaps the resident PBH legal expert is rethinking his recent opinion. You get what you pay for and his offering was gratuitous - but it was a valiant effort! Good show lad.

What Lies Over Yonder Horizon?