Here you’ll find answers to the most common questions about Colombian peso (COP) transfers.
Sending to COP
Who can I send COP to?
You can send COP to personal bank accounts of following banks in Colombia: Bancolombia, Banco de Bogotá, BBVA and Davivienda.
What information do I need about my recipient?
You’ll need their:
full name
account number
account type (current or savings)
address
phone number
ID document type
ID document number
How much can I send?
You can send up to 2,900 USD (equivalent in COP) per transfer.
The amount you can send per calendar month/year varies depending on multiple factors. We'll let you know the maximum amount you can send when you set up your transfer.
Are there any restrictions?
From business accounts, you can't send COP if your business falls under these categories:
Gambling, betting, and online gaming
Adult content
Firearms, weapons, and military goods and services
Fine jewellery and watches
Fashion jewellery
Precious stones, diamonds, and metals
Retail or wholesale
Financial consulting, accounting, taxation, auditing, or other financial services
Investment
Holding company
Money service
Cryptocurrency financial services
Insurance
Crowdfunding
How long does it usually take for the money to arrive?
Once Wise receives and converts your money, it usually arrives in your recipient’s bank account within one working day for most banks.
We’ll always give you an estimate for how long your transfer will take when you set it up.
Learn more about how long transfers take
Payment declaration
If a recipient receives COP from an international money transfer for the first time in their Colombian account, they must submit a ‘Payment Declaration' (Declaración de Pago). This should be completed via the recipient’s bank.
Bancolombia
Your recipient must have Abono Automático turned on to receive money. If you try to send COP to a bank account without it, you’ll get an error message. This is how your recipient can turn on Abono Automático:
Open internet banking
Go to the international transfers section
Choose an account and reason for receiving money
Once they’ve done that, it takes 24 hours until they’ll be able to receive money.
Learn more about Abono Automático
Banco de Bogotá
Banco de Bogotá recipients don’t need to complete a payment declaration form to receive their transfer. As long as the account details are correct, the transfer will be deposited automatically and the recipient will be notified by the bank.
BBVA
Once the transfer arrives, the recipient will be asked to follow the instructions in the app:
Select the menu in the upper right corner and then select Tus transferencias internacionales.
Select the incoming transfer and fill in the reason for the transfer.
Accept terms and conditions and select Transferir.
Your recipient should receive the money in the selected account.
Davivienda
Recipient should do this in the Davivienda app once the transfer arrives.
Select Transferencias y avances
Select Enviar y recibir dinero del exterior, then Recibir dinero.
Select the transfer and the reason for the payment and follow the instructions.