Finances colombia..uk

You can't what? Keep your UK bank account open when you move? Move money from your UK bank to yourself when you're in Colombia? Surely there are ways to do that. I and others regularly send money from US banks to Colombia.

When I was in Colombia I used Western Union to get cash.  I Had them take it out of my checking account and I picked it up at one of the western union locations.  It cost me $5.  And I got a great exchange rate

I have also used western union to put money into other peoples bank account

Money corp say they cant help me once i start living in colombia.i am on the verge of moving permanently to armenia  we have a property there. My wife is from there.how can i  organise a steady income from my uk bank accounts?

The Colombian ATM'S work just fine for bringing money into the country.

spillerbk wrote:

how can i  organise a steady income from my uk bank accounts?

Dear Mr. Spiller,

Welcome to the Colombia forums of expat.com ...

If you need a few hundred pounds per week from each account, you should be able to use your current bank cards in any Colombian city.  Naturally, there will be recurring convenience charges.

If you need more than that, you may have to ask your banks how to get it to you in Colombia.

If you deposit large sums before you move with PayPal or another institution, you should have access to those funds as needed -- or on a 'steady' basis -- when you are in Colombia.

If you are receiving monthly or steady income from sources in the U.K., the embassy that serves U.K. Expats who move to Colombia may be able to route that income to a Colombian bank once you have your visa/cédula.

cccmedia

You can use Revolut they have a Colombian phone number to allow you access to various currencies and linked different accounts. I use this for my life in different countries and am happy with Revolut. There are other services with lower fees and easy as well for example Wise, Remity and similar other providers. I know one problem is PSE payment in Colombia that you have open Colombian account to able purchase things on the internet that Revolut does not have instead you can take out money from ATM instantly. Please tell me if I am wrong.

The actual cost of sending money through Western Union using a debit card amounted to 12% for me. Western Union advertises a really low sending fee but clobbers you with their currency exchange rate. I currently use Wise and routinely send money using my US bank debit card to my Bancolombia account at an honest currency exchange rate and a fee of roughly 3.7%. My money arrives in my Bancolombia account in about 30 minutes after I start the transfer. Wise is a UK company.

Interesting post..i currently use remitly to send money  to colombia for work on our apartment and utilities so there is no reason why  i cant use the same method to and use my uk debit  card to send money to a account in colombia.

R U able to open a USA Account?

CaliRay wrote:

The actual cost of sending money through Western Union using a debit card amounted to 12% for me. Western Union advertises a really low sending fee but clobbers you with their currency exchange rate.

Ray's not the only Expat warning others away from Western Union.

The host of the weekly YouTube program 'Gran Colombia Coffee Time',
Loren Lowe (rhymes with cow),  has lately been warning folks
about exorbitant fees and dubious exchange rates that have
caused him to wave a red flag on W.U.

cccmedia

When I use my U.S. bank debit card at a Colombian ATM, I don't get charged anything by my U.S. bank but sometimes do get charged by the local Colombian bank a nominal amount for their service.  The Western Union fees are ridiculous.

Yeah, keeping a regular UK account seems tricky without a UK address. As I see it there are 2 options.  "Aquire" a UK address or look at an offshore account in the IOM or Jersey.  I'm hoping to get to Colombia soon and I have to admit that managing money, the UK banking and tax system is causing me a little anxiety.

jay.uk wrote:

keeping a regular UK account seems tricky without a UK address. As I see it there are 2 options.  "Aquire" a UK address or look at an offshore account in the IOM or Jersey....

Does the Isle of Man provide offshore accounts for persons lacking a home-country address?

IOM is not part of the U.K., nor the European Union.

cccmedia

Hi there..my move is going to happen next month uk armenia.my bank say if i register with online banking here before i leave i will be able to access and manage my accounts  from colombia and make international transfers once i have a account there. And i will also be able to use my remitly account to send money from here.to a new account in colombia.