Money transfers are a big source of income for Colombians. According to World Bank data, Colombia received a record $6.8 billion in money transfers during 2019. Remittances have become a significant contributor to the economy of the country. More and more people across the world are choosing to send money back to Colombia to support family and friends. Many of them are choosing to do this with Small World.
So, what is the easiest way to send money home with Small World?
In this blog, we’ll explore everything you need to know if you want to send money to Colombia, including which money transfer service to use and our bank partners in Colombia.
Below you’ll learn about:
- Transfer Services
- Why is using Small World beneficial?
- Our Partners in Colombia
- Use Small World
If you choose to use Small World to send money to Colombia there are a number of methods you can use. Below is an overview of the transfer service options we offer when sending money to Colombia:
A bank deposit is exactly what it sounds like. You can send money directly to a bank account of your choice and the transfer is facilitated by Small World to ensure your money is secure and convenient.
One of the easiest ways to receive money in Colombia is through your mobile phone. The service is quick, safe and simple because you can transfer money to a mobile provider as airtime and the recipient doesn't have to take any complicated actions. That’s why Small World has included Airtime Top-Up as an option for people when sending money to Colombia.
Another convenient way to send money online is via mobile wallet. A mobile wallet is a digital wallet that allows you to store payment card information on a mobile device.
With Small World you can quickly and securely transfer money to Colombia by depositing money in the mobile wallet of whomever you want to send money to. It’s a simple, modern service that ensures you can support your loved ones in Colombia.
One of the most simple ways to transfer funds is via cash pickup. All you need to do is to send money for cash pickup to any of our cash pickup collection locations in Colombia. This method is accessible to everyone, especially to any friends and family in Colombia who may not be familiar with receiving money online and prefer to collect physical cash.
Why is using Small World beneficial?
There are many ways to make international money transfer services, so why is using Small World possibly the best option for you? Below we’ve highlighted why using Small World to send money to Colombia is beneficial.
Small World is Secure
Small World is a regulated financial services company handling more than a million transactions a month. We prioritize security and ensure that every transfer is handled with the same level of care and diligence. We follow financial regulations to make sure our customers’ money transfers are managed securely.
Small World is Fast
Small World facilitates instant or same day service to over 90 countries worldwide, including Colombia. We know that you sometimes need to make quick money transfers and the systems we have in place ensures that you can quickly send money to Colombia in a variety of ways including bank deposits and airtime top-up.
Small World is Trusted
Over 15 million customers worldwide trust us with their global money transfer needs. At Small World we take pride in our global reputation. We are a trusted money transfer service for a good reason. Millions of customers trust Small World regularly, which means you can too.
Our Partners in Colombia
So you know how to send money to Colombia, and why you should do it with Small World but you may still be wondering how your beneficiary can collect the money in Colombia. Don’t worry, the process is easy with Small World’s partners.
We operate with major partners including Bancolombia, BBVA, Banco de Bogotā, Banco Agrario de Colombia, Banco de Occidente, Davivienda and Pagos Internacionales.
Bancolombia was founded in 1945. Today the bank provides banking products and services to individuals, companies, and the Colombian government. The bank is international and has a presence in Colombia, Latin America, and the Caribbean region.
Bancolombia is based in Medellin and has around 30,000 employees. Currently the bank operates nine separate segments, including Banking Colombia, Banking Panama, Banking El Salvador, Banking Guatemala, Trust, Investment Banking, Brokerage, Offshore, and Others. The bank operates 1,057 branches, 6,124 ATMs, and around 215 kiosks.
BBVA Colombia was established in 1956 and today is one of the largest banks in Colombia. The bank provides commercial, retail and investment banking services. On top of their standard services, BBVA also offers securities brokerage, asset management, insurance, lease financing, fiduciary and custodial, investment banking, and real estate services.
BBVA has around 5,282 employees and is headquartered in Bogota. The bank is “present in 123 cities and municipalities, operating 106 service points and 1,339 ATMs and serving around two million customers.” (CFI)
Banco de Bogotā
Banco de Bogota was the first of the commercial banks in Colombia and was founded all the way back in 1870. The bank provides a variety of services and operates through Personal, Premium, Small and Medium Enterprises, Microfinance, Official, Social, Corporate, Business, and Institutional segments. Banco de Bogota is headquartered in Bogota and has around 33,000 employees.
Banco Davivienda, incorporated in 1972, is one of the largest commercial banks in Colombia. The bank provides personal, corporate, equity, and international banking products and services. Additionally the bank, which is based in Bogota, has over 17,000 employees.
“The bank operates 675 branches and 2,710 ATMs. It serves around 6.6 million customers and maintains a presence in six countries.”(CFI)
Banco de Occidente
Banco de Occidente is based in Santiago de Cali and provides commercial banking and related financial services throughout the country. The bank was established in 1965 and currently employs around 6,900 staff. It oversees 211 branches in 53 cities, five Payments and Reissues Centers, and 3,800 ATMs.
You can use any of Small World’s partners in Colombia to ensure that your money gets to where it needs to be.
Use Small World
Small World makes money transfers easy. All our services are designed to increase financial accessibility for individuals around the world. So, if you need to send money to Colombia you could do this easily via Bank Deposit, Mobile Wallet, Airtime Top-Up or Cash Pickup.
We facilitate millions of money transfers every year through simple, secure and efficient transfer services. So, if you need to support your loved ones in Colombia you can rely on Small World.
Your first transfer online is always free of fees!