🇨🇴 Pay Suppliers in Colombia
Pay Colombian suppliers for coffee, flowers, textiles, oil, emeralds
T+0 (2.3s avg within Unicorn network). Save 83% vs traditional banks.
What you need to send money to Colombia
What details do I need to pay suppliers in Colombia?
To pay suppliers in Colombia you need the recipient's Account Number (SWIFT/BIC and account number (no single national code)), plus account number and beneficiary name. Payments typically settle in 2.3 seconds and cost 0.5% FX spread + £5 per payment.
How fast are payments to Colombia?
Payments to Colombia settle in an average of 2.3 seconds when using local rails such as PSE (Pagos Seguros en Línea), compared to 2–3 days via traditional SWIFT.
How much does it cost to send money to Colombia?
Unicorn Currencies charges 0.5% FX spread and £5 per payment. You save about 83% versus banks (e.g. £505 vs £2924 on a £100k transaction).
Cost Comparison: Banks vs Unicorn Currencies
See how much you save on £100,000 payment to Colombia
| Cost Item | Traditional Banks | Unicorn Currencies |
|---|---|---|
| FX Spread | 2.9% | 0.5% |
| Payment Fee | £24 | £5 |
| Total Cost (£100,000) | £2,924 | £505 |
| YOUR SAVINGS | N/A | £2,419 (83%) |
| Settlement Time | 2-3 days (SWIFT) | T+0 (2.3s avg within Unicorn network) |
Local Payment Rails in Colombia
Avoid expensive SWIFT fees. We use local payment systems in Colombia for faster, cheaper settlement.
PSE (Pagos Seguros en Línea)
Colombia instant online payment system
CUD (Cuenta de Depósito)
Colombian electronic funds transfer
Sistema CEDEC
Banco de la República clearing system
Who Uses This Payment Corridor
Key Industries in Colombia
- Coffee
- Flowers
- Textiles
- Oil & Gas
- Emeralds
Average Transaction: £30k-£145k
Typical Monthly Volume: £195k-£1.95M
Popular Supplier Types
- Coffee exporters (Eje Cafetero region)
- Flower growers (Bogotá savanna)
- Textile factories (Medellín, Bogotá)
- Emerald traders (Bogotá)
What You Need to Know: Colombia Payments
Regulatory Considerations
- Banco de la República de Colombia regulations
- DIAN (Tax Authority) documentation
- IVA (VAT 19%) on goods and services
- Customs declaration requirements
Payment Tips for Colombia
- Colombia = Coffee leader (3rd globally), flower exporter (2nd globally)
- PSE widely adopted for COP payments
- Bogotá + Medellín + Cali = Main business centers
- Improving security situation - verify supplier locations
Why Choose Unicorn for Colombia Payments
Local Rails, Not SWIFT
We use PSE (Pagos Seguros en Línea) and other local systems in Colombia. Avoid 3-4% SWIFT fees and 2-3 day delays.
83% Lower Costs
Save £2,419 on every £100,000 payment. On £195k-£1.95M monthly volume, save up to £72,570 annually.
Bank of Canada Supervised
Registered Payment Service Provider (PSP) and FINTRAC MSB. Full regulatory compliance for Colombia payments.
Real-Time FX Tracking
Upload supplier invoices in COP. See live P/L as GBP/COP rates move. Lock rates for 15 seconds before committing.
£1,000,000+ Paying Suppliers in Colombia? Save 83%
Enterprise treasury for import/export businesses with T+0 (2.3s avg within Unicorn network) settlement to Colombia
For businesses with high annual FX volume. Not consumer transfers.