Highest remittance rate for converting 1 EUR to COP = 4193.58
Although there are countless options for transferring money from Spain to Colombia, not everyone experiences a successful transfer. That is because many of them don’t understand that international money transfer requires a strategized approach. At Exchange Rate IQ, we help money senders make the best decision there is in by pointing them to the best way to send money from Spain to Colombia.
Many people are stuck between options when it comes to sending money from Spain 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 no doubt that the number of Colombian migrants in Spain is quite high and it explains why the EUR to COP transfer is always busy. Typically, migrants have the responsibility of sending money back home for upkeep and development purposes. It has been recorded that the international remittance graph from Spain to Colombia has been on a constant rise. With so many money transfer companies ready to help you complete your transfer, you need to ensure that you are on the safe side by working with only genuine transfer agents.
It is safe to say that international money transfer is not new. In the past, getting money across borders was hectic and worst part of all, it took way too long even for expensive services. When it comes to sending money internationally, today, there are three most effective and reliable options that will work for you. They include;
Bank transfers: You can send money directly from your bank account in Spain and have it deposited into a bank account in Columbia. Banks transfers are ideal for transferring large amounts commonly when buying property or any kind of reason. One thing that has attracted many people to use banks to send money abroad is excellent security and easy to track feature. With mobile banking today a possibility, you can send money from Spain to Colombia using bak transfer without going to the bank.
Money transfer apps: Money apps are quite popular these days and they are way too many that you can never claim not to have an alternative. The good thing with money apps is that they provide quick access to your money if you are sending or receiving money. Better yet, some of them allow you to link your bank accounts and debit or debit cards so that you have ease of making your payments. As ideal as these services may sound, it is important to understand that there are risks that come with it. First of all, not all money transfer apps you come across are genuine. Thankfully we are here to point you so a few reliable apps that you can use to send money from Spain to Colombia cheaply. Some include; Remitly, XE Money, Xoom, Azimo, and WorldRemit.
Cash pick up and delivery: We all know about cash pick up services where after the sender has released the money, the receiver goes to pick the cash at a designated pick up point. One of the best things about cash pick up services is that the transfer is instant. Some of the popular cash delivery services that you can use to send money from Spain to Colombia include; Western Union and MoneyGram. Using the Western Union App you get to initiate payments using your smart device and not by visiting their offices physically as it was in the past. If you are looking for the fastest way to send money from Spain to Colombia then you will enjoy what you will get with these services. However, be ready for a transfer fee that is slightly higher than what you will find with money transfer apps.
To make sure that you get a successful transfer, you should consider the following;
How much you need to send: There are some transfer agents that allow you a cheaper cost of service if you are sending large amounts while others will charge you highly for the same service. Knowing who is charging what for your transfer will help you choose the cheap way to send money from Spain to Colombia.
How long it takes: Timely money transfer is always the best and that is why many people prefer instant transactions if they can afford it. However, some money transfer services take days especially the low cost or free ones like XE Money. If you can know how long it will take for your transaction to complete, you can still make timely transfers even with slow options.
How the receiver will access their money: If you send money to Colombia using a service that does not exist in that country, there are high chances that you or the receiver is likely to incur extra processing costs. To avoid this, you can take advantage of the analysis provided on our platform in Spain to the Colombia transfer corridor. You will quickly access the available services including the rates and how long it will take.