With ARQ, you can easily send Colombian Pesos (COP) to any bank account in Colombia via interbank transfers with no additional costs. Here's how to do it and what to keep in mind.
How to send Colombian pesos via bank transfer?
Add new recipient:
Once you are in the app, go to the Send tab.
Tap on New recipient, and then choose Colombia
Introduce the recipient’s details, such as their name, document number, account number, bank, and nickname.
Enter the amount:
Input the exact amount you want to send to the recipient.
Confirm transfer:
Review the details and confirm the transfer.
Considerations
Cost
Transfers to Colombian bank accounts are free.
Minimum amount
There's a minimum amount of 10,000 COP
You can send any amount above the minimum amount. There's no maximum.
Credit times by bank
Near instant transfers (within 30–60 minutes), 24/7:
Bancolombia, Nequi
Fast transfers (within 2 hours):
BBVA, Banco de Occidente, Banco AV Villas, Banco de Bogotá, Banco Popular
Transfers in 1 business day:
All other banks
Except for Bancolombia and Nequi, all transfers are processed on business days only. Transfers requested outside business hours, on weekends, or on holidays will start processing the next business day.
Important note: as of Thursday, 30th April, our payment partner has disabled the direct connection for Davivienda and DaviPlata to improve stability of transfers with these banks. What this means is that transfers to and from them will be processed through the ACH network, which typically takes 1 business day.
The times mentioned are estimates and may vary. In some cases, bank transactions may take up to 24 additional hours due to external processing times.
Note: once a withdrawal is initiated, it cannot be cancelled.