Cheapest way to send USD to Colombia?

Remitly, Wise, and PayPal Xoom routinely lead USD→COP with margins under 1%. Sendvalu and Small World are also competitive options for smaller transfers.

Are remittances to Colombia taxable?

No — personal remittances to family in Colombia are not subject to income tax. There is no annual cap on inbound personal remittances.

How fast do COP transfers settle?

Most fintech providers credit Colombian bank accounts within 1–4 hours during business days. Mobile wallet (Nequi, Daviplata) credit is typically instant.

Can my recipient receive USD instead of COP?

Yes — many Colombian banks offer foreign currency accounts (cuentas en moneda extranjera) where USD or EUR can be held. Confirm with your provider that they support FX-account delivery.

Why is the COP volatile?

The peso is sensitive to oil prices (Colombia's main export), US Federal Reserve policy, and political risk. The 2023 changes in government economic policy have added another source of volatility.

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Colombian Peso (COP) Live Exchange Rate & Remittance Guide

COP · COL$ · Banco de la República

1 USD =

COL$3456.44

Live (cached)

About the Colombian Peso

The Colombian Peso has been Colombia's currency since 1837, replacing the Spanish-era real. Banco de la República, Latin America's oldest still-operating central bank, manages the peso under an inflation-targeting regime and a free-floating exchange rate since 1999.

Why COP matters for remittance

Colombia receives roughly $10 billion in remittances annually — the third-largest in Latin America after Mexico and Guatemala. The vast majority comes from the United States, with Spain, the UK, Chile, and Ecuador as secondary corridors. Remittances equal ~3% of GDP.

COP cross-rates

Live

What 1 Colombian Peso (COP) is worth in major currencies right now, at the wholesale mid-market rate.

Currency	1 COL$ COP =	Inverse (1 unit in COP)
USD USA	$0.000289 USD	COL$3456 COP
EUR Europe	€0.000252 EUR	COL$3974 COP
GBP UK	£0.000218 GBP	COL$4593 COP
INR India	₹0.027446 INR	COL$36.435 COP
AED UAE	د.إ0.001063 AED	COL$941.14 COP

USD rate is live from Wise's comparison API; other reference rates are derived from the latest USD-anchored mid-market table. Retail providers add a margin on top — see the comparison table on each corridor page for the rate you'll actually receive.

Compare COP corridors

See live rates and the best providers for each pair.

USD→COP EUR→COP GBP→COP CAD→COP MXN→COP

Colombia remittance guide

Country profile for sending money TO Colombia — delivery methods, regulations, recipient guidance.

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COP remittance regulations

Inbound remittances are regulated by Banco de la República. Personal remittances are not taxed and have no annual cap. Recipients may receive USD (held in foreign currency accounts) or COP. Bancolombia, Davivienda, and BBVA Colombia dominate retail remittance delivery.

How to send Colombian Peso (COP)

Use a Colombian-licensed provider — major options include Wise, Remitly, PayPal Xoom, Western Union, and MoneyGram.
Bank deposit to Bancolombia, Davivienda, BBVA Colombia, or Banco de Bogotá is widely supported.
Nequi and Daviplata are popular Colombian mobile wallets; Remitly and others now support direct wallet credit.
Cash pickup is widely available throughout Colombian cities via Western Union and MoneyGram.

Currency facts

ISO 4217: 170
Sub-unit: 100 centavos = 1 peso
Central bank: Banco de la República
Daily FX volume: $3 billion/day
Symbol: COL$
52-week range (vs USD): 4,000 – 4,200

Frequently asked questions

Live rates fetched from Wise's public comparison API. For currency conversion mid-rates we display Wise's quoted rate, which has zero markup. Methodology.