You might think that it is pretty simple to send money to Colombia and for many people who use an instant transfer this is the case. Yet not everyone wants to do this and some will instead send travellers cheques or a prepaid credit card to a recipient in Colombia. If you are thinking about sending someone you know a prepaid credit card topped up with Colombian pesos (COP) or a traveller's cheque here are a few things you should know.
When it comes to exchanging foreign currency banks can change their policies on a day-to-day basis. In other words one bank that offers to exchange foreign currency one day might not offer the same service the day after. So if you are looking to transfer money to Colombia you should aim to do it in Colombian currency. Most money exchanges or cambios prefer to exchange US dollars for Colombian pesos, so bear this in mind when sending money to be exchanged.
Keep safe when using ATMs
Sending a prepaid credit card is unfortunately not without its risks in Colombia. Even though a money transfer to Colombia via a prepaid credit card is very safe obtaining the money at the other end can be risky. Although there are more and more ATMs around in the larger cities and towns these can still pose a security risk. Be alert when using an ATM and avoid any that look like they have been tampered with.
Exchanging Travellers cheques can be tricky
Even checking the currency rate Colombia offers and sending traveller’s cheques when the rate is good can be very difficult. This is due to the fact that outside of Bogota there are few places to exchange them. If your recipient does not live in Bogota you should look towards another method of completing a currency transfer to Colombia.
