Highest remittance rate for converting 1 EUR to COP = 4352.97
Although there are so many possible ways of sending money from Germany to Colombia, some people are still finding it hard to find the best way to send money from Germany to Colombia. The main reason behind this is that they do not take their time to conduct enough research. At exchange rate IQ, we help such people to find the best international money transfer service to use for GBR to COL transfer. We provide users with a simplified comparison list that will direct them to the beat money transfer service within a few minutes.
Many people are stuck between options when it comes to sending money from Germany 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.
It is without any reasonable doubt that there are plenty of Colombian migrants who reside in Germany. That is according to the amount of money that the migrants send back home to their loved ones. Nevertheless, there are plenty of German companies that have outsourced Colombian freelancers. With all this stated, it is safe to say that the need for a reliable and convenient yet affordable money transfer agent is in high demand. This is perhaps the reason why many people easily fall victim to bad international money transfer services.
Even though money transfer between Germany and Colombia is a practice that goes back into history, there are modern ways that cost much less. Keep in mind that cheap has a wide meaning in money transfer. Some of the cheap ways to send money from Germany to Colombia include;
Online money transfer: online money transfer is the latest form of international money transfer that has changed the world. Today, you can easily send and receive money on your phone with the help of various cash apps. The best part about using cash transfer apps is that they offer competitive rates. Services like XE Money for example, even allow you to send money from Germany to Colombia free of charge. When using money apps, many people forget that the availability of a certain money app in Germany does not automatically mean that it is also available in Colombia. Such instances can lead to complications in your transfer that can mean more expenses on your side. Some of the preferred options to go with include; Azimo, Remitly, WorldRemit, XE Money, and Ria.
Bank transfer: Banks have been around for way longer but the technological impact on the industry has not left banks behind. Through mobile banking, you should be able to send money from Germany to Colombia conveniently. However, you need to ensure that your bank supports your kind of transaction. If you are lucky to find a bank that exists both in Germany and Colombia then you will enjoy better transfer rates and speed. Sending money from Germany to Colombia through a bank transfer can take about twenty-four hours to about three days. It is helpful to know that some cash transfer apps allow you to send money directly from your bank account.
Cash delivery services: there is a way through which you can send money to Colombia from Germany much easier and it is through cash delivery services. The good thing about using cash delivery services is because it is one of the fastest ways to send money from Germany to Colombia. The only disadvantage of fast money services is that they come at an extra cost however, they are the best choice if you want to send money for an emergency. The impact of technology on money transfer does not leave cash delivery services out. Services like Western Union App even allow you to initiate transfers through your phone to be picked up in Colombia within minutes. MoneyGram and Travelex are other alternatives that can complete your transfer.
In order to enjoy a successful money transfer from Germany to Colombia you will need to keep the following in mind;
Transfer cost: As stated, the fastest way to send money from Germany to Colombia is most likely to cost a little more. Without knowing what it costs for your transfer, you can get inconvenienced right when you are ready to initiate the payment. Such disappointments come at a cost since you will spend more than you budgeted for or, you will miss sending the money altogether. You also need to keep an eye out for any hidden charges.
Exchange rates: If you are a regular money sender then you already know that exchange rates can contributor to how much money you need to send. That is why some people look for the highest rates that will give their EUR more value than the COP. That way, they end up paying much less yet, some money transfer agents are not quick to update their exchange rates. Always confirm the rates before settling for an agent.
Transfer duration: knowing how long it takes for your transaction to clear is important because you can know the excellent time to send money. Knowing the duration will also make it easy for you to track your transactions and find out if they have been received. It will also get rid of the anxiety felt by the receiver.