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Best Ways to Transfer Money from the USA to Colombia

Country from
Country to
You send
To
  • 650 USD =
    2,573,363 COP
    3-5 days
    Preferential fee and/or exchange rate only on your first transfer
    Best deal
    Monito Score
    9.0
    Go to Remitly
    You pay
    650 USD
    Payment options
    Preferential fee and/or exchange rate only on your first transfer
    Offer valid for Remitly new customers only.
    • Bank transfer 3-5 days
      0 USD
    • Debit card In minutes
      3.99 USD
    • Credit card In minutes
      3.99 USD
    Exchange rate
    Preferential fee and/or exchange rate only on your first transfer
    Offer valid for Remitly new customers only.
    Remitly's exchange rate (1 USD = 3,959.0200 COP) is 1.11% worse than the mid-market exchange rate, adding 7.19 USD to the total cost of this transfer.
    7.19 USD
    2,573,363 COP
    arrives in Colombia
  • 650 USD =
    2,573,357 COP
    Same day
    6.50 COP less than with Remitly
    Monito Score
    8.1
    Go to Small World
    You pay
    650 USD
    Payment options
    • Debit card Same day
      0 USD
    • Bank transfer Same day
      0 USD
    • Credit card Same day
      0 USD
    Exchange rate
    Small World's exchange rate (1 USD = 3,959.0100 COP) is 1.11% worse than the mid-market exchange rate, adding 7.19 USD to the total cost of this transfer.
    7.19 USD
    2,573,357 COP
    arrives in Colombia
  • 650 USD =
    2,532,615 COP
    In minutes
    40,747.92 COP less than with Remitly
    Monito Score
    7.7
    Go to MoneyGram
    You pay
    650 USD
    Payment options
    • Debit card In minutes
      11.49 USD
    • Direct bank payment 3-5 days
      4.99 USD
    • Credit card In minutes
      24.49 USD
    Exchange rate
    MoneyGram's exchange rate (1 USD = 3,966.4454 COP) is 0.92% worse than the mid-market exchange rate, adding 5.87 USD to the total cost of this transfer.
    5.87 USD
    2,532,615 COP
    arrives in Colombia
  • 650 USD =
    2,482,122 COP
    In minutes
    ZERO fees on your first THREE transfers with code 3FREE
    91,240.90 COP less than with Remitly
    Monito Score
    7.8
    Go to WorldRemit
    You pay
    650 USD
    Payment options
    ZERO fees on your first THREE transfers with code 3FREE
    New WorldRemit customers only. Apply the code during the transfer process in the ‘PROMO CODE’ section for each of first 3 transfers to get the discount.
    • Debit card In minutes
      2.99 USD 0 USD
    • Credit card In minutes
      2.99 USD 0 USD
    • Direct bank payment 3-5 days
      2.99 USD 0 USD
    Exchange rate
    WorldRemit's exchange rate (1 USD = 3,818.6494 COP) is 4.61% worse than the mid-market exchange rate, adding 29.98 USD to the total cost of this transfer.
    29.84 USD 29.98 USD
    2,482,122 COP
    arrives in Colombia
  • 650 USD =
    2,419,464 COP
    Same day
    153,898.64 COP less than with Remitly
    Monito Score
    6.4
    Go to Xoom
    You pay
    650 USD
    Payment options
    • Credit card Same day
      9.99 USD
    • Debit card Same day
      9.99 USD
    Exchange rate
    Xoom's exchange rate (1 USD = 3,780.3540 COP) is 5.57% worse than the mid-market exchange rate, adding 35.64 USD to the total cost of this transfer.
    35.64 USD
    2,419,464 COP
    arrives in Colombia

How to send money from the USA to Colombia at the best rate?

Our comparison engine found 10 providers available to make a transfer from the USA to Colombia.

If you need the recipient to receive Colombian pesos in a bank account in Colombia, then the most competitive provider at the moment is Remitly, with no transfer fees and a competitive USD-COP conversion rate (their current exchange rate is 1 USD = 4,007 COP).

In comparison, the total cost of your transfer would be 45.63 USD (which is roughly 6x more expensive) if you were to use Xoom to make the same transfer.

For this transfer to Colombia, it might be worth it to also consider two other competitive providers: Small World and Wise.

If you need the recipient to receive Colombian pesos in cash where they live in Colombia, then the cheapest option currently is Remitly, with zero transfer fees and a very competitive USD-COP exchange rate (their current rate is 1 USD = 3,959.02 COP).

When taking the exchange rate and the fees into account, the total cost of your transfer to a cash pick-up location in Colombia with Remitly is 7.19 USD, but you would pay a total cost of 45.63 USD if you were to use Xoom to make the same transfer with cash pick-up as the pay-out option.

For a cash money transfer to Colombia, it could be interesting to also have a look at two other competitive money transfer providers: Small World and MoneyGram.

This recommendation was updated a few minutes ago.

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Monito's Recommendations for Sending Money from the USA to Colombia

Today's cheapest money transfer service might not be the cheapest tomorrow. Find the one that's best suited to your needs and preference by comparing the best performers on Monito's comparison engine over the past 30 days for transfers from the USA to Colombia:

recommendation icon

Best Ways to Send Money from the USA to Colombia

The Cheapest Ways to Transfer Money From the US to Colombia

  1. Wise with 2.95% total fees
  2. WorldRemit with 3.54% total fees
  3. Remitly with 4.34% total fees
  4. MoneyGram with 6.02% total fees

Ranked by % total fees (incl. exchange rate margin) to send US$1000.00 on average in the past 30 days.

How To Send Money to Colombia from the US Online

  1. Compare money transfer services on Monito’s real-time comparison engine
  2. Open an account online
  3. Set up your transfer using your beneficiary's bank details in Colombia
  4. Fund your transfer by bank transfer, debit or credit card
  5. Click 'Send' and — voilà! Your money is on its way 💸

The Best Ways To Receive Money In Colombia From the US

  1. Via a bank deposit with Remitly
  2. Via mobile wallet with WorldRemit
  3. Via cash pick-up with MoneyGram

The Best Ways to Transfer Money From the United States to Colombia

When you’re transferring money from U.S. dollars (USD) to Colombian pesos (COP), you want to keep your currency exchange fees to an absolute minimum. We help you find the simplest, quickest and most secure ways to convert your money and send it to from the United States to Colombia. 

Whatever your needs, we’ll save you money. Whether you’re paying your salary into your Colombian bank account, send money to family or friends, or planning a holiday, we can help. We’ll share the cheapest and best money transfer providers, that way, the person getting the pesos has more cash in their pockets, and that’s good for both of you.

You’re Probably Paying Too Much To Send US Dollars to Colombia

U.S. residents send around $1.8 billion USD to Colombia every year. Traditional banks, PayPal and some currency exchange businesses do charge unnecessarily high fees. Combined, on the total amount that the United States sends to Colombia each year, these charges could mean up to $90 million USD in unnecessary fees — or $80 each if the 1.1 million people of Colombian descent in the U.S. are converting their dollars to pesos.

Reasons To Send Money From the United States to Colombia

There are around 450,000 people of Colombian descent who were born in the U.S. and live there, and another 700,000 Colombians who were born in Colombia or elsewhere and now call the U.S. home. People of Colombian or U.S. descent have many reasons to send money to this beautiful country:

  • Colombians working in the U.S. may want to repatriate their salary south of the border.
  • Colombians sending money to family and friends to help support them.
  • U.S. or Colombian businesses involved in importing or exporting goods or services.
  • People vacationing in Colombia.

How You Get Charged When You Transfer From USD to COP

There are three main ways you could be overpaying when you’re converting between U.S. and Colombian money:

  • Fixed fee — this is a fixed USD fee that banks and some other providers charge to convert and transfer money to Colombia. It could be as much as $40 USD.
  • Percentage fee — this is a commission that you pay on the total amount you transfer, so the less you send, the less you pay. These percentage fees can range between under half a percent to two percent or more.
  • Difference to exchange rate — this is where a currency provider offers a worse exchange rate than the standard exchange rate. For example, the standard exchange rate states that 1,000 USD is worth 3,288,000 COP, but a currency provider sends 3,230,000 pesos to the beneficiary.

These fees can quickly add up, and your U.S. bank is going to be one of the most expensive ways to transfer money. You’ll save significantly on your fees if you use a specialist currency provider to send money from the United States to Colombia. For example, transferring $500 USD to Colombia would cost you less than five dollars with our top provider, but would cost over $25 with MoneyGram, or over $40 with your bank.

When we compare money transfer providers, we take all the fees into account and recommend the ones where your U.S. dollars go furthest. Note that the least expensive and fastest ways to transfer money between the United States and Colombia does change over time, and can vary depending on how much you’re sending. 

That’s why the simplest and easiest way to make sure you’re getting the best deal is to use our money transfer comparison tool.

How To Send Money From the United States to Colombia

Sending money to Colombia is fast and simple.

Paying-in and Funding Options in the United States

U.S. residents have a few ways to pay for a transfer. You can typically choose to fund a transfer with a bank transfer or a direct bank payment. Several specialist providers also allow you to pay for your transfer with a debit or credit card, although there are sometimes additional fees. 

Money Collection Options in Colombia

Estimates of the number of adults without access to banking or financial services in Colombia vary between a third and half of the population. Whatever the percentage is, it’s clear that Colombians need multiple ways to collect money, as transfers to a bank account won’t work for many people.

Fortunately, several specialist currency providers offer alternative ways to access money including cash pickup at an agent location, cash delivery to a person’s home, and airtime top-ups. Colombians can get access to funds from organizations including exito, BBVA, Carulla, Super Inter, Pagos Internacionales and more. 

Using a Forex Provider for Sending Money From the United States to Colombia

For higher-value transactions to Colombia, you may choose to transfer funds using a foreign exchange (FOREX) broker, as you will receive personalized phone or email service and may be assigned a specialist account manager. A FOREX broker may offer multiple collection options for the person receiving the funds.

The Fastest and Cheapest Providers for Sending Money to Colombia From the United States

The fees you pay to send money to Colombia can change, depending on how much you’re transferring. Because of this, we’ve compared money transfer specialists over four different amounts:

  • Very low-value transfers of 50 USD or less
  • Low-value transfers of 300 USD
  • Medium-value transfers of 1,500 USD
  • High-value transfers of 5,000 USD or more

FAQ About Money Transfers From the Us to Colombia

Everyone wins, except expensive solutions

With our model, the only losers are the expensive banks or providers you’ll stop using!

To ensure our independence, we always use transparent, objective and verifiable criteria in our comparison. No provider can buy their way to the top of our results.

We include as many providers as possible in our comparison and have partnerships with almost all major and innovative providers.

We make sure you never pay more than if you went directly to the provider of your choice. We even negotiate special offers for you with many of our partners.

  • You save money on your transfer by selecting the cheapest provider.

  • The best providers earn new customers without expensive marketing, helping keep their costs (and prices) low.

  • Monito receives a referral fee from the provider you selected. This enables us to offer our service to you for free.

Questions you may have

Why Trust Monito?

You’re probably all too familiar with the often outrageous cost of sending money abroad. After facing this frustration themselves back in 2013, co-founders François, Laurent, and Pascal launched a real-time comparison engine to compare the best money transfer services across the globe.

Today, Monito’s award-winning comparisons, reviews, and guides are trusted by around 8 million people each year and our recommendations are backed by millions of pricing data points and dozens of expert tests — all allowing you to make the savviest decisions with confidence.

Learn more about Monito
  • Monito is Trusted by 15+ Millions Users across the globe.

  • Monito's experts spend hours researching and testing services

  • Affiliate commissions we may receive never impact our independence

Mid-market exchange rate

To calculate the total cost of your transfer, we compare the exchange rate every provider applies to your transactions with the latest mid-market exchange rate data that we source from XE.

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