What is the best way to send and receive money via Internet from the US to Colombia

george_in_medellin says on Dec 4, 2008, 08:53:

Yes, Paypal is now approved for Colombia but there are limits on it.

It depends on how much you're sending. Some options are:

- western union or similar
- a debit card with visa/mc logo
- bank transfer to their bank account
- if the sums are more than a few thousand and you need to do it regularly, get set up with a firm on the bolsa. it's the cheapest way and you can move lots and lots of cash. there is a regulatory burden though. basically you have to prove to the central bank that the source of funds is "legit".

George Donnelly Writer, Business Owner, Libertarian, IT Guy georgedonnelly.com

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Paisa/Calena/Luver says on Dec 4, 2008, 09:00:

Moneygram, Always a better rate and cheaper than Western Union.

My Ole Lady has one of my debit cards now,, I control the balance on how much I put into that account and she takes out for emergencies only.. Save $100 on fees over these few years.

"PBH is very entertaining. We have people posing as the opposite sex, great business people and investors, conspiracy nuts, people that have never been in Colombia but claim otherwise, real estate scam artists, white guys using black people as avatars,

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monkeykilla says on Dec 4, 2008, 09:13:

send western union

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dianabrito2002 says on Dec 4, 2008, 09:29:

I have a question,......Could I bring my debit card and open an account in colombia. How fast could this be done. How safe is it to use traveler's cheque. how do they work? ( I am Canadian)

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miamimike says on Dec 4, 2008, 09:54:

George--a big problem with Paypal in Colombia is that Paypal still does not dispense(according to their website) in Colombian Pesos. At least in the below link from their Website, the CP is not listed amongst the 18 currencies they(PP) support. So if that is the case, you are left with the expense of converting to CP. Its a step in the right direction for PP but I believe the lack of transparency and IT security(from hackers/scams) in Colombia prevents PP from going all the way. Yet Mexico is a full PP affiliate as the mexican peso is listed amongst a currency in their 18 currency table.Great for Mexicans. I keep hoping PP one of these days is approved for Mercadolibre.com(an eBay affiliate in colombia) payments as I have a Mercadolibre account and its a pain the shenanigans I would have to go thru to sell and receive payment prior to shipping and paying Mercadolibre for a listing. PP will be good for in country Colombian Consumers once the Security factor is resolved because it will give Colombians options they never had before for secure shopping, banking. I believe the "old money" in Colombia doesn't want this opening in their country as its beyond their control and they DON'T stand to profit from it. One of our very Knowledgeable Posters on this Thread whose identity will remain anonymous could tell you about Mercadolibre in Bogota...

https://www.paypal.com/cgi-bin/webscr?cmd=p/sell/mc/mc_intro-outside

What's the difference between a pitbull and a hockey mom? Lipstick.Sarah PalinAcceptance speech at 2008 Republican National Convention, on selection as party's vice-presidential candidate.

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Paisa/Calena/Luver says on Dec 4, 2008, 09:56:

I think you need a Colombian cedula for that, but There are many gringos here with accounts in Colombia so im not sure how that works! and STAY AWAY from Travelers Cheques ALL I HEAR IS NIGHTMARES on where and how much you can cash and very bad rates.

"PBH is very entertaining. We have people posing as the opposite sex, great business people and investors, conspiracy nuts, people that have never been in Colombia but claim otherwise, real estate scam artists, white guys using black people as avatars,

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Gator says on Dec 4, 2008, 09:59:

Danabirito, Probably you will not be able to this with out a cédula. God knows it's very hard to use/cash US Dollar travelers check so I would think Canadian would be even harder. NOT fast at all based upon your post.

We have used Moneygram through out daughters and have had no problem and it seems to be the best rate.

"Bene, cum Latine nescias, nolo manus meas in te maculare" .

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Mononoke28 says on Dec 4, 2008, 11:33:

The only one I've seen a lot is Xoom.com but the dollar exchange is a lot less than wiring from our local latino store.

Diana

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george_in_medellin says on Dec 4, 2008, 11:42:

at dianabrito2002 you need a cedula to open a colombian bank account. you can only get a cedula if you have a visa that allows you to stay for some work-related purpose.

in '01 I brought traveler's checks and cashed them in downtown Medellin. It became a PITA though. Debit cards with Visa logos are much easier.

at miamimike I despise PayPal, not surprised.

George Donnelly Writer, Business Owner, Libertarian, IT Guy georgedonnelly.com

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ColombianoGringo (Moderator) (Trustee board) (☼Travelguide writer) says on Dec 4, 2008, 12:01:

Pirate2late says on Dec 4, 2008, 12:07:

For me, the cheapest way I've found is using a my bank debit card good only at an ATM. I previously used W. Union, but it was very expensive and the rates are lousy! My novia uses it and the banks in CO charge $1.00 USD for each transaction. Yesterday the exchange was 2310.

There is a max. of $300.00 (usd) per day withdraw, so it's not good if you need lots of cash, but I never keep much in the acct.

"Fly it until the last part stops moving!"

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dianabrito2002 says on Dec 4, 2008, 12:39:

for george in medellin.......how about a debit card with the MC logo?

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ColombianoGringo (Moderator) (Trustee board) (☼Travelguide writer) says on Dec 4, 2008, 13:47:

Pirate2late says on Dec 4, 2008, 13:55:

I forgot to add that I wanted to send an ordinary debit card from my bank (w/visa logo) with her name on it. The only reason I couldn't was the bank needed her signature (which could have been done) before they would issue a debit card in her name. Another bank I use issued me a debit card only (and can only be used at ATM's) without a name on it. I sent it to her the same day and haven't had a problem since. I did tell them that it would be used in Colombia though, just so they wouldn't be calling me and asking me if I was using the card in Colombia! It's worked great and saved a bunch.

"Fly it until the last part stops moving!"

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Pirate2late says on Dec 4, 2008, 13:56:

Oh, and another thing. If I move to Colombia, would any of you be interested/willing to send me a debit/credit card?? Just wondering................:)

el Pirate

"Fly it until the last part stops moving!"

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Mononoke28 says on Dec 4, 2008, 15:18:

Pirate2late says on Dec 4, 2008, 13:56 (today)
Oh, and another thing. If I move to Colombia, would any of you be interested/willing to send me a debit/credit card?? Just wondering................:)
-----------------------------------
Yeah, it's in the mail. =D

Diana

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Pirate2late says on Dec 4, 2008, 15:26:

Ha ha ha ha! Great! I'll be looking forward to it! Thanks! :)

"Fly it until the last part stops moving!"

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davidslc46 says on Dec 4, 2008, 15:34:

If you can get through all the verification xoom.com will let you send $3000 per month right off the bat. I made the mistake of trying to send money through xoom from my USA bank to myself in Colombia. Do not try that.

A debit card is the cheapest method I can find particularly if you pull out 1.5 mill -2.0mill per withdrawl.

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ColombianoGringo (Moderator) (Trustee board) (☼Travelguide writer) says on Dec 4, 2008, 15:36:

jpseast says on Dec 4, 2008, 15:48:

citibank atm's have given me over a million at one shot parque versalles Cali

Life's A Gift

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ColombianoGringo (Moderator) (Trustee board) (☼Travelguide writer) says on Dec 4, 2008, 15:54:

benign.indifference says on Dec 4, 2008, 20:17:

I have also withdrawn over a million at the Citi near parque versalles. I do not have a CitiBank card.

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Buongone says on Dec 4, 2008, 23:29:

Davidslc46, I use Xoom every now and then. What was the problem with you wiring money to yourself? I have used Western Union. The most expensive !! Cashpin it good. Exchange is good, but charge a little. Moneygram: Somebody was hacking my accts a couple of yrs ago. My banks put it all back on them.(Inside Job) Now I'm balcklisted with Moneygram. The best was Ikobo. Excellent rates, and low charge fee. But they shut down about 2 months ago. Some Bank down south was supposed to take ovr. But it seems they backed out. So I'm stuck with Xoom & Cashpin. Xoom, if you set up an acct with them. The ist deal takes 5 days. After that all transfers are like $5.99 each. Low excahnge rate. So all in all Xoom & Cashpin are about the same.

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sanandressi says on Dec 5, 2008, 07:39:

A service called RIAENVIA is cheaper than both moneygram and western union I think? If you have family, it has been said that the best thing to do is get a second ATM card from your bank and give it to a relative and put funds into the account and call the family and tell them how much to take out. You pay a $3 to $5 fee correct?

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ColombianoGringo (Moderator) (Trustee board) (☼Travelguide writer) says on Dec 5, 2008, 07:47:

davidslc46 says on Dec 5, 2008, 16:32:

Buongone

As I remember it put my account into acoount verification which meant I had to provide a valid phone number or utility bill in USA. Well my skype number would not work so despite the fact it looked like the most secure transfer ever = my account to myself, they took three payments of $1000 each out of my account and refunded it about two weeks later. If I could have verified a US address that was not a maildrop I may have been okay.

David

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scumbuster says on Dec 5, 2008, 17:02:

As for opening a Colombian bank account. I had hopes to only be added to my wife’s existing account and was told I could not be added without a cédula.

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davidslc46 says on Dec 6, 2008, 16:11:

Get a student visa, get a cedulla. The only negative is it is a temporary cedulla although your student visa can be renewed for years as far as I can tell.

David

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