Sending money to Colombia

sweetg30 says on Dec 14, 2006, 07:19:

yes you can do that Also you can use delgado travel,ria envia,
depends where you live I only know about N.Y.

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Azul says on Dec 14, 2006, 08:39:

thanks Mario I had no idea bank to bank transfers were so expensive. So far I've been using Western Union (about 20 transfers) and they can get expensive depending upon how much you send. I think MoneyGram is a little cheaper. I'll check out USPS. Thanks.

las cosas caen por su propio peso

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cali373 says on Dec 14, 2006, 09:02:

try using VIGO it has the best rates I have seen compared to any service. http://www.vigousa.com/index.asp

Smile if you are a thinker!

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Miguel says on Dec 14, 2006, 09:35:

"Participating" Is the magic word since it's not available in many cities in the US. I

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ColombianoGringo says on Dec 14, 2006, 10:05:

Cali is right about VIGO As far as money transfer services, they seem to have the lowest rates I have seen for sending money from an agent location. They offer different processing rates. In other words, you can pay a higher percentage to get a better exchange rate. For me, it has always worked out best to use the highest commision as the better exchange rate more than balances out the difference. Have them quote you the rates and just put together a little excel spreadsheet to compare costs.

However, time is money and there aren't many Vigo agents near me. The only one is a hair salon and the girl who does the transfers comes and goes at random. Consequently, I prefer to use MoneyGram.com. Their rates are cheaper than Western Union and they offer a cheaper rate if you can wait a few days for your transfer to get there.

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ColombianoGringo says on Dec 14, 2006, 10:09:

However If you plan on sending money frequently, I would consider opening a US bank account and sending an ATM or debit card to your recipient. Depending on your banks fees, this can be a lot cheaper and a hell of a lot more convenient.

My dad set up such an account for his mother in Bogota. She is able to withdraw money whenever she needs it without the hassle of a transfer. He uses an online bank. I believe it is HSBC.

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Azul says on Dec 14, 2006, 10:27:

that is a great idea ColombianoGringo!! Thanks!!

las cosas caen por su propio peso

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aztec says on Dec 14, 2006, 13:15:

ColombianoGringo has the... ...right solution. My wife opened an account in a U.S. bank and sent the ATM card to her sister. The bank waives any ATM fees or rather the bank absorbs it them selves. In any event there are no fees for the use of the card. I am sure you can find a bank that will waive or otherwise cover the fees for you.

We even use the card here in the States when we can't get to our regular bank ATM machine.

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ColombianoGringo says on Dec 14, 2006, 17:20:

Aztec Would you mind telling us the name of that bank? I have found some that don't charge you, but do not absorb the charges from the Colombian bank.

Thanks,

CG

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