Transfers to Colombia have very specific verification requirements. Please see below for a full list of what may be asked for.
Please note that these payments are treated on a case by case basis, and the documents requested can vary.
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Sending to COP
|TransferWise Fee||2.5%||For more information, please see the pricing page here.|
|Delivery time*||1 working day||*After our partner in Colombia receives necessary documentation (see below).|
|20 USD*/ 3.63 Billion COP||*Equivalent of 20 USD at the mid-market rate at the time of making a payment order.|
|Countries we can send to||Colombia|
|Additional Receiving Banking Fees||None|
|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 e-mail address||Yes|
|Completed Form||Yes||Please see section below - 'Recipient Form'|
|Amount Lock Transfers||Yes||The currency you're sending from must also be able to send fixed amounts.|
|Reference||None||We cannot send transfer references to Colombia.|
Due to Colombian regulations, each recipient you send Colombian Pesos to will need to fill in a form which will be sent to our partner in Colombia and provide a copy of their ID. They are required to fill in this form once per 365 days. You can find a guide on how to fill this out here. Your recipient can send us this form. You'll find our contact details here.
Additional Documents when transferring more than 5000 USD (or equivalent) per calendar month
Due to local Colombian regulations, we're required to ask for additional documents when larger transfers are sent to this country. This rule applies to single, one-off transfers, or if 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 have already completed ID verification with us, then we will have this on file)
- Your job title.
- Your bank statements for the last two 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 one bank account and you have being moving funds between accounts prior to transferring the funds to us, then the statements will also be needed for 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 (i.e salary, if you’ve sold a house, you’re moving over saved wages, or you’ve received a loan, etc.)
- 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.
Additional documents when transferring to business
If you are sending to a business in Colombia, the business will be asked 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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