sending money to colombia from usa and vice versa

My dad has agreed to give me a loan of $2,500. What's the best way to get that amount here in medellin in pesos?

International wire transfer? I have a davividienda account here.

Withdraw from atm? Seems that my bank doesn't charge me for atm's in medellin. On may 5 I withdrew 400.000 pesos and on my bank statement it reads 228 dollars. I think that's pretty close to the exchange rate on that day.

Western union?

Which would be cheaper???

How about sending money back to the states from colombia? Bank transfer? Western union?

By mranderson on May 8, 09:35 in Friendly Talkzone.

lampltr says on May 8, 11:21:

ATM is the way to go but do in a secure location, you can even break up the days of the week instead of the whole amount at once. The Western Union agents will make a good commission on you in both locations should you use. Intl wire is another option but the fee's may be a bit more...My 2 cents anyways.

Robert Jorge says on May 8, 12:04:

A bank to bank wire transfer is easy if you have an account in Colombia - which you do. I sent a similar amount of money to a friend (as a loan) 3 years ago in Acacias, Colombia. I actually went to one of those Latin market shops that sell phone cards and such. They transfered the money, it was recieved the next day in the account holder's account, and I remember it costing something like $5.00 usd. Western Union is reliable - but a rip-off.

Mononoke28 says on May 8, 12:06:

I had to transfer my mom money in Colombia a few years ago. The wire transfer was made from Wells Fargo to Conavi (back in the day) and they only charged me $30.

Diana

mranderson says on May 8, 14:12:

Thanks for the input. I'm going to go talk to my bank first to see what they will charge me and also what they will charge me to send money back to the u.s. to repay the loan.

I'm assuming with atm as long as they don't charge me international transaction fees would be easier. I would probably have to do it in 4 days taking a million a day. we're only talking about 4.5 million depending on the exchange rate. That way I could just skip the whole bank process.

RogueOne says on May 9, 02:14:

Ditto what Mr. Jorge said.
I went to a Brazilian convenience store, with a money transfer terminal. Learned the local Davividienda branch de mi amiga, and they sent for the lowest cost - right into her account.

lampltr says on May 9, 16:44:

Both are great ways to complete transfers (Not Western Union unless emergency). As you stated, make sure your bank will not charge you international transaction fees...there is a major law suit in progress as many were charged this unlawfully. Best to you.

pedro says on May 9, 17:51:

Deposit it into your USA account, and then draw it down via ATM.

¡save pow wow!

mranderson says on May 9, 19:00:

Pedro I'm thinking that is probably the best way. Although I'm getting a little worried about the exchange rate. If the dollar goes back up next year it will be harder to pay back the loan.