COP Transfers

COP Transfers

Here you'll find everything you need to know about sending to Colombian peso (COP).
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Please note that these transfers are treated on a case-by-case basis, and the documents requested can vary. 

Sending to COP
Additional information and required documents

Sending to COP

Basic information   Notes
Delivery time 1–2 working days After our partner in Colombia receives necessary documentation
Minimum/maximum amount
(per transfer)
62,000 COP/3.63 billion COP  If you'd like to send more than the equivalent of 5,000 USD, we'll need to verify your identity first
Countries we can send to Colombia  
Additional receiving banking fees None  
Required details    
Recipient full name Yes When sending to individuals, please include the first name and the surname
Recipient account number  Yes  
Recipient bank name  Yes  
Recipient account type Yes Savings or current
Recipient phone number Yes  
Recipient email address Yes  
Completed form Yes Please see recipient form
Amount lock transfers Yes The currency you're sending from must also be able to send fixed amounts
Reference None We can't send transfer references to Colombia


Additional information

Recipient form

Due to Colombian regulations, each recipient you send COP to will need to fill in a form that will be sent to our partner in Colombia. They'll also have to provide a copy of their ID that they used to open their bank account. They are required to fill in this form once a year.

Additional documents when transferring more than 5,000 USD (or equivalent) per calendar month

Due to local Colombian regulations, we need to ask for additional documents when you send larger transfers to Colombia. This rule applies to single, one-off transfers, when the same person sends or receives a larger amount over a calendar month. Please note that from time to time our Colombian partner may ask for these documents even when this limit has not been exceeded.
  •  An ID document copy (if you've already completed ID verification with us, then we'll have this on file)
  • Your job title
  • Your bank statements for the last 2 months including your latest transfer to TransferWise — either as PDFs from your online banking, or photos/scans of your paper statements. If you have more than 1 bank account and you've been moving funds between accounts prior to transferring the funds to us, then you'll also have to send us statements from the other accounts
  • Payment receipt of the transfer you’ve made to TransferWise — either as a PDF from your online banking, or a photo/scan of a paper receipt from your bank
  • A brief, 2-3 sentence explanation about why you’re making this transfer
    • If it’s to pay for a service, or buy something, please attach a copy of the invoice or purchase agreement
  • Copies of documents confirming your source of wealth (such as salary, if you’ve sold a house, you’re moving over saved wages, or you’ve received a loan)
    • If the money is from salary, then please provide a copy of your payslip, employment contract or a tax declaration 
    • If the money is from a loan or stocks, then please include the agreement and loan returning schedule
    • If your income is from selling assets, then please provide a copy of the sales agreement/act, and a copy of your bank statement showing the transaction from the sale
    • If the money is from a friend or relative, please include this in your explanation and provide a copy of their photo ID and bank statement
We may need to ask for more documents during this process.

Additional documents when transferring to business

If you're sending to a business in Colombia, the business will need to send the following information in addition to filling in the form for business recipients of COP:
  • Certificate of Incorporation for the company (cámara de comercio)
  • Tax registration (NIT or RUT)
  • A copy of the legal representative's photo ID
  • Document showing the business's shareholding structure
  • Financial statements signed by an accountant (2 documents: “balance general” and “estado de resultados”)
  • A copy of the accountant's certification

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