Remittance fees for bank account transfers to Colombia were nearly one percentage points higher than those for credit cards. This is according to a Statista estimate that aims to compare the prices charged for sending international money transfers to Colombia. Remitting towards Colombia incurred an average cost of roughly 6.1 percent over the course of 2023. Remittances that were initiated with cash took up approximately 95 percent of all remittances towards the Latin American country in 2023.
Total average cost of sending 200 U.S. dollars worth of remittances towards Colombia as of 3rd quarter of 2023, by remittance instrument
Characteristic
Costs of sending 200 U.S. dollars to this country, as proportion of remittance value received
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FXC Intelligence, & World Bank (Remittance Prices Worldwide), & Statista. (January 11, 2024). Total average cost of sending 200 U.S. dollars worth of remittances towards Colombia as of 3rd quarter of 2023, by remittance instrument [Graph]. In Statista. Retrieved July 22, 2024, from https://www.statista.com/statistics/1455079/cost-sending-low-value-remittances-to-colombia-by-brand/
FXC Intelligence, und World Bank (Remittance Prices Worldwide), und Statista. "Total average cost of sending 200 U.S. dollars worth of remittances towards Colombia as of 3rd quarter of 2023, by remittance instrument." Chart. January 11, 2024. Statista. Accessed July 22, 2024. https://www.statista.com/statistics/1455079/cost-sending-low-value-remittances-to-colombia-by-brand/
FXC Intelligence, World Bank (Remittance Prices Worldwide), Statista. (2024). Total average cost of sending 200 U.S. dollars worth of remittances towards Colombia as of 3rd quarter of 2023, by remittance instrument. Statista. Statista Inc.. Accessed: July 22, 2024. https://www.statista.com/statistics/1455079/cost-sending-low-value-remittances-to-colombia-by-brand/
FXC Intelligence, and World Bank (Remittance Prices Worldwide), and Statista. "Total Average Cost of Sending 200 U.S. Dollars worth of Remittances towards Colombia as of 3rd Quarter of 2023, by Remittance Instrument." Statista, Statista Inc., 11 Jan 2024, https://www.statista.com/statistics/1455079/cost-sending-low-value-remittances-to-colombia-by-brand/
FXC Intelligence & World Bank (Remittance Prices Worldwide) & Statista, Total average cost of sending 200 U.S. dollars worth of remittances towards Colombia as of 3rd quarter of 2023, by remittance instrument Statista, https://www.statista.com/statistics/1455079/cost-sending-low-value-remittances-to-colombia-by-brand/ (last visited July 22, 2024)
Total average cost of sending 200 U.S. dollars worth of remittances towards Colombia as of 3rd quarter of 2023, by remittance instrument [Graph], FXC Intelligence, & World Bank (Remittance Prices Worldwide), & Statista, January 11, 2024. [Online]. Available: https://www.statista.com/statistics/1455079/cost-sending-low-value-remittances-to-colombia-by-brand/