How to send money to Colombia in 2026: pesos at the day's rate to your account and across the country in 20 seconds
A Colombian bank credits a transfer from abroad in pesos at the day's rate, and the money reaches the recipient's account in 1-3 business days. The payment needs the account number, the bank code and the recipient's document number. From $10,000 the bank looks at a 3-6 month statement and an income certificate.
In short
- A transfer from abroad is credited in pesos: 3,216.01 per dollar on 7 October 2026.
- The 4 per 1,000 tax is 0.4% on withdrawals and transfers, with up to 18,330,900 pesos a month tax-free.
- An instant transfer within the country takes up to 20 seconds, around the clock since 6 October 2025.
- The bank registers money for a flat as a foreign investment.
In detail
A transfer to Colombia from abroad reaches an account at a Colombian bank in 1-3 business days, and the bank credits it straight away in pesos at the day's rate: on 7 October 2026 the official rate was 3,216.01 pesos per dollar. Within the country money then moves on in 20 seconds, and withdrawals and transfers from an account carry the 4 per 1,000 tax, that is 0.4%.
| Method | On 8 October 2026 | Currency | Time | What you need |
|---|---|---|---|---|
| Bank transfer from abroad to your own account | works | pesos at the bank's rate on the day of crediting | 1-3 business days | the account number, the bank code, the recipient's document number, the purpose |
| Instant transfer within Colombia | works around the clock since 6 October 2025 | pesos | up to 20 seconds | the recipient's phone, document number or email |
| Money transfer service | works | pesos | from minutes to a day | the recipient's name and document number |
| Paying the seller for a flat | works | pesos | 1-3 business days | the contract, investment as the purpose, papers on the source of the money |
The official rate of Colombia's financial supervisor on 7 October 2026 is 3,216.01 pesos per dollar; dollars in the text are rounded up, and the table was checked on 8 October 2026.
A transfer to Colombia arrives in pesos: the bank's rate and the purpose
A Colombian bank accepts dollars or euros from abroad and credits them to the recipient in pesos. The bank sets its own rate, with the official rate of the day as the benchmark. The difference between them is the main hidden cost of a transfer to Colombia, so the rate is compared before sending, not after crediting.
On crediting, the bank asks for the purpose: family support, rent or tuition, buying a home. The purpose is chosen precisely. The bank registers money for a flat as a foreign investment, and this record later allows the proceeds of a sale to be taken back abroad.
The buyer pays the seller in pesos through a bank, and the notary and the property registry check that the money came from the buyer's account. Moving terms are covered on the pages residence permit for retirees in Colombia and the remote work visa in Colombia, and taxes on the taxes in Colombia page.
Buying a flat in Medellin or Bogota? A manager will tell you which purpose to state in the payment so that after a sale the money can return abroad just as legally.
The 4 per 1,000 tax and instant transfers within Colombia
On every withdrawal and transfer from an account in Colombia the bank withholds the financial transactions tax: 4 pesos for every 1,000, or 0.4%. It is not charged on a person's savings accounts as long as withdrawals in a month do not exceed 350 tax value units. In 2026 a unit equals 52,374 pesos, so 18,330,900 pesos, or $5,700 a month, can be withdrawn tax-free. Since December 2024 this sum can be split between several of your own accounts.
| Transaction | 4 per 1,000 tax |
|---|---|
| Withdrawals from a savings account up to 18,330,900 pesos a month | no tax |
| Withdrawals above 18,330,900 pesos a month | 0.4% on the sum above the limit |
| Transfer from a current account | 0.4% on each transaction |
An example for 2026: withdrawing 50,000,000 pesos ($16,000) from a savings account in a month carries a tax of 126,676 pesos, or $40, only on the sum above the limit. The tax is paid by the owner of the account the money leaves, so it is built into the purchase budget in advance.
A transfer by phone number within Colombia
Since 6 October 2025 Colombia has had an instant payment system: money between any banks arrives in up to 20 seconds, around the clock and at weekends. The recipient is found by a key: a phone number, a document number or an email, and registering a key is free. This is convenient when money from abroad is already in the account and needs to be shared out to the family or used to pay rent.
Life in the capital is described in the Bogota guide, and the country's second city in the Medellin guide.
We will help you send money to Colombia
Mistakes cost more than fees: money for a flat sent with family support as the purpose instead of investment, dollars exchanged at a bank rate far worse than the official one, withdrawals above 18,330,900 pesos a month taxed at 0.4%, a notary without statements on the path of the money. We will help you avoid them: we choose a legal transfer route from your country, prepare documents on the source of the money for the Colombian bank and the notary, and carry out the transfer through licensed partners through to crediting.
Details and terms are with a manager in the chat: the calculation depends on the sum, the sending country and the purpose of the transfer.
The transfer sum and documents for a Colombian bank
The larger the transfer, the more a bank in Colombia asks. The thresholds on 8 October 2026:
| Sum | The Colombian bank's question | Document |
|---|---|---|
| Up to $10,000 | the purpose of the transfer | the details and an explanation |
| $10,000-100,000 | the source of the money | a 3-6 month statement, an income certificate |
| From $100,000 | the path of the money and investment as the purpose | a property sale contract, a tax return, statements |
More on the papers is in the articles on proof of source of funds, sending a large sum abroad and moving home sale proceeds abroad.
Sending $100,000 or more to Colombia for a flat or your own business? A specialist will prepare documents on the source of the money for the Colombian bank and carry out the transfer through licensed partners; whole capital is moved under the plan on the capital relocation page.
Transfers from Bogota and Medellin: where the money goes
From Colombia money is most often sent for study, to family abroad and for a second home:
- United States: an account with a passport, without a social security number
- Spain: a $120,000 deposit guarantee at a bank
- Canada: Canadian dollars straight to an account
Sending money to neighbouring countries
- Ecuador: the US dollar without exchange
- Peru: soles and dollars at one bank
- Brazil: a 0.38% tax on exchange
- Venezuela: bolivars and a currency account
- Chile: home prices in an accounting unit
- Panama: banks in US dollars
Moving all your capital to another country is covered on the capital relocation page.
FAQ
How much is the 4 per 1,000 tax in Colombia?
Does a Colombian bank exchange dollars when crediting a transfer?
How long does an instant transfer within Colombia take?
What is the dollar to Colombian peso rate in October 2026?
Does the purpose of a transfer to Colombia need to be stated?
We will suggest the best way to send your money
We will choose a transfer method for your amount and country, prepare the documents on the origin of the money for the bank, make the transfer through licensed partners and follow it until the money is credited. Ask your question in the chat - the manager will suggest the best terms and the cost. The legal side with banks and government bodies is handled by Murblz specialists and locally licensed partners.
Details and cost are with the manager in the chat. Describe your situation and we will reply right away.
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