How to Receive Money From Abroad in Colombia: Methods, Costs and Keeping Dollars
The ways to receive money from abroad in Colombia, what actually drives the cost of each one, where Bre-B fits in the final leg, and how keeping the money in dollars instead of converting to pesos works.
The two legs almost nobody separates
When people look up how to receive money from abroad, they compare services by their visible fee. The problem is that this fee describes only part of the journey.
Every dollar entering Colombia from outside travels through two distinct legs:
- The international leg. Getting the money out of the origin country and into an institution that operates in Colombia. This is where sending fees, intermediary bank charges and — almost always the most expensive part — the applied exchange rate live.
- The local leg. Delivering the money into your Colombian account. This is where Bre-B lives, and since its arrival this leg stopped being a problem: it is instant and interoperable across institutions.
The practical consequence is awkward for simple comparisons: the leg that got cheaper is the one that already worked reasonably well, and the one that decides how much money actually arrives is still the international one. A service with "zero fees" that applies a marked-up exchange rate can end up costing more than one with a visible fee and a tight rate.
The methods, and what drives the cost of each
We are not going to publish third-party numbers: other companies' fees and margins change without notice, and an out-of-date table is worse than no table. What we can state precisely is what drives the cost in each method, which is what lets you compare for yourself with same-day figures.
| Method | Who applies the exchange rate | What to check before choosing |
|---|---|---|
| International bank transfer (SWIFT) | Your Colombian bank, on credit | Fixed inbound fee, possible intermediary bank charges, and the bank's FX spread |
| Money transfer companies | The transfer company, when setting the rate | The offered rate against the market rate that day; the cost usually sits there, not in the fee |
| Local wallets (receiving money from abroad) | The partnered money transfer operator | Same as above: the rate is the real price |
| Multi-currency platforms | The platform, on conversion | Whether they force conversion to pesos or let you hold the currency |
| Digital dollars | You, when you choose to convert | Inbound fee, outbound fee, and whether the FX is included or charged separately |
The column that matters most is the second one. In four of the five rows, someone else picks the exchange rate and applies it before you ever see the money. That is the structural difference between these routes — not the fees in the first column.
Bre-B: what it solved and what it did not
Bre-B is Colombia's interoperable instant payment system, operated by Banco de la República. It works with keys — your phone number, national ID, email or an alphanumeric code — instead of account numbers, and settles between institutions in seconds, at any hour.
For anyone receiving money from abroad, Bre-B matters for one concrete reason: it is the fastest final leg Colombia has ever had. Once the money is already in pesos inside a Colombian institution, moving it to your account stops costing time.
What Bre-B does not do, worth stating plainly because it is often misread:
- It does not cross borders. Bre-B moves Colombian pesos between Colombian institutions.
- It does not convert currencies. There is no such thing as "sending via Bre-B from abroad": someone has to do the international leg and the conversion first.
- It does not undo the exchange rate you were given. If the conversion went badly upstream, Bre-B delivers money that already lost value, quickly.
We cover the system in detail in what Bre-B is.
The option almost no guide mentions: not converting
Every classic route shares one assumption: that money arriving from abroad has to end up in pesos. In most of them that conversion is mandatory and happens the moment the money lands, at that day's rate.
If your income is in dollars — remote work, clients abroad, family support — that forces you to convert at a moment you did not choose. The alternative is to receive the money as digital dollars and decide yourself when, how much, and whether to convert at all.
A digital dollar is a stablecoin: an asset that holds a 1:1 peg to the US dollar. USDC is the one we use. It is not an investment and it does not generate yield: it is a way to hold dollars.
How it works with D-ONE CASH
The flow, with the fees exactly as published today on our fees page:
1. You verify your identity. Without approved KYC you cannot receive or withdraw.
2. You receive the money. You have two inbound routes, and they cost differently:
- In dollars, with USD bank details to receive ACH or wire transfers from abroad: 1.00%.
- In Colombian pesos, over Bre-B or transfer: 1.75%.
In both cases the balance is credited as USDC. These fees cover what it costs us to receive your money, plus a small margin. Our main margin is on bank withdrawals.
3. You hold the balance. Holding digital dollars costs nothing. There is no custody or inactivity fee — and no yield either: the balance does not grow.
4. You decide what to do. Three exits:
| Exit | Fee | Time |
|---|---|---|
| Withdraw to a Colombian bank (Bre-B) | 2.10%, FX included | 1–2 business days |
| Withdraw to a US bank (ACH) | 1.50%, in dollars | 1–2 business days |
| Send to another person or a wallet | 0.40% | Under 2 minutes |
To withdraw over Bre-B, your 16-digit key is enough: no other bank details needed. If you prefer a traditional account, you provide the holder, document type and number, bank and account type.
Three conditions worth knowing before you count on this:
- The minimum bank withdrawal is 20 USD. It is a floor on the amount, not on the fee: below that, a bank withdrawal cannot be made. Sending to a wallet has no minimum.
- Currency conversion is not charged separately. When you withdraw to Colombia, the FX is already inside the 2.10%: one operation, one fee.
- The exchange rate is applied when the order is processed, not when you create it.
The arithmetic, without rounding in our favour
Say a client abroad pays you 1,000 USD by dollar transfer, and you decide to move all of it into pesos:
- USD inbound: 1.00% → 10.00 USD
- Balance credited: 990.00 USDC
- Withdrawal to a Colombian bank over Bre-B: 2.10% on 990.00 → 20.79 USD
- The peso equivalent of 969.21 USD reaches your account, at the rate at processing time
Total cost of the full journey: 3.08%. If instead of converting everything you keep the balance in dollars, the journey stops at the first step and the cost stays at 1.00% until you decide to move the money.
That is the whole point of this route: exit fees are only paid when you exit.
Before subscribing: check whether we can serve you
This comes before any price comparison, because it does not depend on what you choose.
What decides is where you live, not your nationality or where your card was issued. There are countries where we cannot open a wallet today, and without a wallet there are no deposits and no withdrawals. Colombia is not among them — but if you live outside Colombia, or whoever pays you wants to open an account from another country, check first: the subscription is charged before the account becomes operational.
Two cases that surprise people, worth naming here:
- In the United States we do serve customers, except if you live in New York or Texas. What counts is your residential or principal place of business, not the state where a company was incorporated.
- In the European Economic Area we cannot open wallets today.
The full, dated list is on country availability. And being able to open a wallet is not the same as being able to withdraw to a bank: today withdrawals go to the US, Europe, Mexico and Colombia.
Exchange declaration: what it is and why it comes up
Colombia has an FX control regime, and cross-border operations carry reporting obligations. Anyone receiving money from abroad eventually runs into the term declaración de cambio (exchange declaration).
The honest answer we can give: the obligation and the form depend on the concept of the operation and the channel the money arrives through, and a payment for exported services is not the same as a family transfer. Authorised FX market intermediaries have defined procedures for this and are the right source for your specific case.
What we will not do is give you a form number or tell you what to declare. We are not a supervised entity in Colombia, we are not your tax adviser, and this article is informational. If you receive foreign income regularly, talk to a Colombian accountant — it is cheap compared with fixing it later.
What to check on any route
A short list that works for comparing any service, ours included:
- What is the exchange rate today, against the market rate? It is almost always the largest component of the real cost.
- Is conversion mandatory, or can you hold the currency?
- How many fees are there across the whole journey, not just the first step?
- Do you see the exact cost before confirming, or after?
- Are there minimums or maximums that affect your typical amount?
- Can the service legally operate where you live?
D-ONE CASH is a product of DIGITALROCKETS LLC. We are not a bank or a licensed financial institution in Colombia, and this article is informational — not financial, tax or FX advice. Stablecoin balances are not bank deposits and are not covered by the FDIC, SIPC, Fogafín or any deposit or investor insurance. Availability of each rail is enabled progressively, and the app shows the real status of your account.
Frequently asked questions
Can you receive money from abroad directly over Bre-B?
No. Bre-B moves Colombian pesos between Colombian institutions and does not cross borders or convert currencies. For money from abroad to arrive via Bre-B, someone must first complete the international leg and the conversion into pesos. Bre-B is the final leg, not the whole journey.
How much does it cost to receive money from abroad at D-ONE CASH?
It depends on the currency it arrives in. Receiving a dollar transfer costs 1.00% and receiving Colombian pesos over Bre-B costs 1.75%. In both cases the balance is credited as USDC and holding it costs nothing. If you later withdraw to a Colombian bank, that withdrawal costs 2.10% with currency conversion already included.
Can I keep dollars instead of converting to pesos?
Yes, and holding the balance costs nothing. The money is credited as USDC, a stablecoin pegged 1:1 to the dollar, and you convert to pesos only when you choose to withdraw to a Colombian bank. Keep in mind that holding digital dollars generates no yield, and that these balances are not bank deposits and are not covered by any deposit insurance.
How long does it take to reach my bank in Colombia?
A withdrawal to a Colombian bank account is processed in 1 to 2 business days, and the exchange rate is applied at the moment the order is processed. Wallet-to-wallet transfers are different: they usually complete in under 2 minutes.
Is there a minimum withdrawal amount?
Yes: 20 USD for withdrawals to a bank account. It is a minimum on the amount, not on the fee — below that, a bank withdrawal cannot be made. Sending to a wallet has no minimum.
Do I need an exchange declaration to receive money from abroad?
It depends on the concept of the operation and the channel the money arrives through, and the correct answer for your case sits with a Colombian accountant or your authorised FX market intermediary. We are not a supervised entity in Colombia and we do not give tax or FX advice.
What do I need to withdraw over Bre-B?
Your Bre-B key is enough: the 16 digits, with no other bank details. If you prefer a traditional account, you provide the holder, document type and number (CC, CE or NIT), bank and account type.