How our partnerships make it easier and faster to send money to Colombia
A massive part of what we do at Small World is establishing and maintaining good relationships with banks and other financial institutions across the world. These relationships make it easier, cheaper and faster for our customers to transfer money across the globe.
One of our partners in Colombia is Bancolombia. It’s a relationship that was established over a decade ago and remains important to us because we see some of the highest transaction numbers in the world from Small World customers.
Here, we take a closer look at the company and how our partnership with them benefits those who transfer money to Colombia regularly or want to do it for the first time.
Sending money to Colombia? Here’s an introduction to Bancolombia
If you send money with Small World to Bancolombia, you’re in safe hands. This is Colombia’s major bank, offering products and services to both personal and corporate customers. Founded on 24 January 1945, their business headquarters are in Medellin and they employ more than 31,000 people worldwide.
In 2018, Forbes listed Bancolombia as one of the World’s Best Employers.
They have correspondents in 959 towns - 85% of the entire territory - and also have branches in other countries including Panama, El Savador, Guatemala, Puerto Rico, the Cayman Islands and Peru.
As well as working closing with Small World, Bancolombia have partnerships with other well-known names such as Olímpica, Redy, Alkomprar, Argos, Coopenessa, Comfamiliar, Comercial Card and many others – a vast network available to recipients.
What this means for you is that when you send money to Colombia for cash pick-up, your beneficiary can collect cash from one of many locations.
Setting up an account
Bancolombia has always been a popular destination for cash pick-ups, but as of December 2017 they have also been able to facilitate digital international bank transfers – further good news for anyone wanting to send money to Colombia.
The strength of our relationship is passed on to Small World customers. So that you and your beneficiary can enjoy the benefits of this partnership they (the beneficiary) must have an account with Bancolombia, just as you must have an account with us.
Anyone wanting to set up an account can do so via the Bancolombia website.
As well as a traditional account, there is also now the option of using the new Bancolombia A La Mano service, providing customers with the opportunity to open and manage an account from a mobile phone.
How does this partnership help customers sending money to friends and family in Colombia?
Once your recipient has an account, you will be able to transfer money digitally to them via a bank deposit. This is where the strengths of this strong relationship can really be of use to our customers.
The benefits of making a bank deposit to a Bancolombia account include:
- Fast delivery of money – same business day
- Beneficial exchange rates
- Low transaction fees
- An efficient and secure service which is available 24/7
Bancolombia is also renowned for their excellent customer service, with free numbers to call for anyone in Colombia, Spain and USA.
It is this combination of value for money, efficiency and great service that makes sending money to Colombia easier than ever and possible in just a few clicks of a button.
The different ways to send money to Colombia
1. Cash Pick-Up
2. Bank Deposit
3. Mobile Wallet
4. Airtime top-up
Our main partners in Colombia are: Bancolombia; Davivienda; Pagos Internacionales; BBVA; Banco de Bogota and Banco Agrario de Colombia.