How to calculate taxes on foreign payments?
If for some reason the bank's rate on that day was higher than the Central Bank's rate (the rarest
case), the "service" received is also taxed. It is easier to follow this point than to deal with
additional calculations.
Do I need a bank account in Colombia to send money to Italy?
Not necessarily. Many international services operating in Colombia offer cash transfers to Italy, so you can send money without a bank account. However, if you’re using online banking or bank-to-bank transfer from Colombia to Italy, an account will be required.
When sending money from Colombia to Italy, you can typically pay using a bank card issued in Colombia, a bank account transfer, or cash at a local agent location. The available payment methods may vary depending on the service you choose to transfer money to Italy.
Yes, many international money transfer services allow you to send money from Colombia directly to a bank account in Italy. You will usually need the recipient’s full name, bank name, IBAN, and sometimes the SWIFT/BIC code for Italy banks.
How much is the commission for your service?
We do not charge any commission from the users of our system.
