If you're sending a transfer to Colombia and your recipient is receiving an international money transfer for the first time, they'll need to submit a form (called a Declaración de Pago) required by the Colombian government.
Continue reading for more information regarding bank transfers to Colombia.
Why does my recipient need to submit this information?
It's used to confirm the identity of your recipient and authorize international transfers to their Colombian bank account.
What happens if this information isn’t submitted?
Your recipient will not be able to receive the transfer directly into their bank account. Banks may allow your recipient to collect the money in-person. However, the transfer could be cancelled by the recipient’s bank if this information isn’t submitted.
How does my recipient submit this information?
Your recipient will need to contact their bank for specific directions. However, it’s typically an easy process using your bank’s online form.
- Bancolombia provides an online service called Abono Automatico. Your recipient may enroll here.
- BBVA doesn't allow online submissions; recipients must fill out the form in-person.
- Davivienda’s instructions are listed here.
- Banco W also has an online registration process.
Do I need to submit added information if I’m sending to myself?
You should check with your bank to confirm if additional information is needed. Most likely, you’ll need to fill out a power of attorney form and send a copy of your photo ID.