Expat Community > Colombia

Colobound
Joined 2024
Posts: 8

Transfer $ from US to buy a car in Medellin

Wednesday

Good morning! Anyone have recommendations and experience for the quickest and most effective way to transfer money to Colombia to purchase a car? We are in the US. We sent money Western Union. They said we could transfer $5,000/day, and the fee is only $30. The problem is Western Union in Colombia will only allow $3,000 to be disbursed...every 30 days! Ugh! The other problem is if we send the money to Bancolombia, there is a substantially high fee (+/-$1,000) to withdraw it in Colombia (to pay the owner of the car dealership). We are going to see if we can get the bank information from the seller although he may not be willing to provide us this sensitive information. Are there any other reasonable options short of flying there (which would be cheaper than paying bank fee) and opening a bank account - which we plan to do in the near future - just not right now. I see there is XOOM, Remity, Wise, Xe...Thanks!

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SJB Global is a top-rated financial advisory firm specializing in expat financial advice worldwide, offering retirement planning & tax-efficient solutions with a regressive fee model.
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Expat Community > Colombia

Transfer $ from US to buy a car in Medellin

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