Highest remittance rate for converting 1 AUD to COP = 2626.44
Technology has greatly impacted the international money transfer industry. It also comes with risks especially for people who are new to the technology culture. There are some people who have been conned by cyber criminals who pose as genuine money transfer agents. The good news is, ERIQ is here to help you find the best way to send money from Australia to Colombia. We help you compare rates, transfer time, and even exchange rates on one page saving you time.
Many people are stuck between options when it comes to sending money from Australia to Colombia because of the many available and confusing options. Thanks to Exchange Rate IQ however, you can quickly select a suitable money transfer service and learn how services like XE Money can make life easier for you.
Australia and Colombia are known to be great business partners, especially in the agricultural sector. Nevertheless, there are plenty of Colombians in Australia living as immigrants. This is evident by the figures shown in the annual remittance report which amounts to many millions per year. However, finding the best way to send money from Australia to Colombia is never easy for everyone and that is why we are here.
If you have to send money from Australia to Colombia today, you are likely to use any of the following methods
Bank transfer: You can always send money directly from your bank to an account in Colombia within a couple of days. One thing about bank transfers is that they are considered to be the safest option especially if you are paying for a property or any other official transaction. If you wish to send money to Colombia from Australia through bank transfer, you may want to consider finding out more about the exchange rates and transfer duration. On the other end, the receiver should confirm with their account if there is a fee charged on withdrawal so that you can send the right amount. There are some banks that are known to operate in more than one country and if you are lucky enough to find one that is available in both countries then you are likely to enjoy a much faster bank transfer.
Online money transfer: Sending money these days is a simple process that can be initiated using a smartphone. At least that is what technology has given this generation. The good thing with online money transfer is that the services are generally cheaper compared to bank transfers and direct cash delivery. However, it also depends on the company that you work with. As much as it is said that online money transfer is the cheapest way to send money from Australia to Colombia, it is best to know that it may not be the fastest option. A service like XE Money for example will allow you to complete your transfer free of service charge but the only problem is that the transaction can take anything between two to five days to clear. Some fo the top online money transfer services that you can use to send money from Australia to Colombia include; Remitly, TransferWise, and Ria
Cash delivery services: for a very long time, cash delivery services were the most popular way of sending money internationally. These services were provided by various companies including the post office because it had a better reach even in remote areas. Today, Travelex and MoneyGram will see you send money to Colombia for pick up. The good thing about these services is that they are one of the fastest ways to send money from Australia to Colombia together with some online money transfer services. It will help to know that the fastest option usually comes at an extra cost and you may want to compare the rates and find a cheaper option.
Sending money from Australia to Colombia is not an easy task for everyone and that is why many people end up using various methods to send money. To make a better choice of the service provider and successfully transfer your money you will need the following into account.