Receiving Wire Tranfers from the US to a Bancolombia Account

I just opened my first Bancolombia Savings account. The Bank Manager explained some strange system where when I receive an international wire I have to call some part of the bank who will give me an exchange rate. I can chose to accept this rate or keep the money in dollars.

Anyways, it wasn´t all that clear to me. If anyone has any experience or tips, I would appreciate hearing it. What percentage does one tend to lose off the traded exchange rate? I think there is some sort of other form I need to be filling out if I ever want to repatriate the money?

Thanks,

Tlop

By tlop on May 22, 2006, 21:29 in Friendly Talkzone.

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Brians says on May 23, 2006, 04:23: You need to fill out Form 4 I have a copy if you give me your email I will forward it to you. Otherwise you can get it from the DIAN website. 0 funny, 0 helpful.

JFS says on May 23, 2006, 05:51: Did a quick search... Banco de la Republica Formularios e Instructivos Go here to find more info... 0 funny, 0 helpful.

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