About Canada and Colombia

Canada and Colombia established their diplomatic relations back in 1953. Today, these countries share a lot and this is evident by the number of migrants. It is safe to say that sending money from Canada to Colombia is in high demand especially in a time when some Canadian companies outsource services online from Colombia. Finding the best way to send money from Canada to Colombia is much simpler thanks to the resources available at Exchange Rate IQ.

Cheap way to send money from Canada to Colombia

If you have to send money to Colombia from Canada today, you are most likely to use one of the following services.

Online money transfer: this is the most popular way to complete any international money transfer today. That is because it is considered the cheapest way to send money from Canada to Colombia. Services like XE Money for example will allow you to send your money for free. However, it is good to know that the process can take up to five days to clear. With so many cash apps coming up today, it is hard to tell apart a genuine agent from a fake one and that is why you should take advantage of websites like ERIQ before initiating your transfer. Some of the top online money transfer services that you can use to send money from Canada to Colombia include; Remitly, WorldRemit, Xoom, Ria, and XendPay.

Bank Transfer: Banks have been allowing migrants to send money from Canada to Colombia even before the technology existed. The service is still relevant to date because it offers an option that is ideal for various money senders. Although banks are known to be safe, bank transfers tend to take longer and can wait upto three days before clearing. If possible, try working with a bank that is available in both countries for a better service.

Cash delivery services: Cash delivery services have also served time in the international money transfer industry. For a long time, these services were provided by different agents including the post office. The popular company that is today offering this service is Western Union. With the impact of technology on this field, Western Union has developed the Western Union App. The app allows you to initiate your transfer at your comfort unlike it was in the past where you had to visit a Western Union branch to make your transfer. MoneyGram and Travelex are options that you can consider other than WU.

Factors to consider when sending money from Canada to Colombia

One of the main reasons why some people fail when they want to send money from Canada to Colombia is because:

• They don’t do price research: You have to research and compare the cost of available money transfer agents if you want to send money from Canada to Colombia successfully. At Exchange Rate IQ, we do all this for you so as to save you time and the heavy workload involved. By knowing the service cost, you will avoid disappointments that can lead to you spending more money than planned

• They don’t confirm service availability: With so many online money transfer services around, it is hard to tell which service is available where if you don’t do some research on the same. Know that there are some money transfer services available in Canada that are not in Colombia. Using such a service can prove to be costly and equally inconveniencing.

• They don’t know how long the transaction should take: Sending money is a one-time process and not s many people make an effort to follow up assuming that the transaction will clear at the end of the day. This is not true at all because there are technical problems that can delay your transaction that you can never know without tracking the money by contacting the receiver.