Bancolombia publishes its SWIFT code as COLOCOBM, or COLOCOBMXXX if your sending bank requires an 11-character format. At Colombia Desk, we line up the money transfer for buyers and movers so each step happens in the right order. To complete the transfer, the sender enters the code alongside the recipient’s full name, account number, account type, and transfer purpose.
Once the money arrives in Colombia, the recipient has 30 days to claim the transfer and accept Bancolombia’s exchange rate in Sucursal Virtual, unless Abono Automático is active on the account. Bancolombia’s receiving page says there is no charge to receive the funds, though other banks along the route can deduct charges.
Bancolombia’s SWIFT Code
Bancolombia’s SWIFT code, the bank identifier used for international wires, is COLOCOBM. When a sending bank interface requires an 11-character code instead of the standard 8-character string, Bancolombia instructs users to append three X’s, making the entry COLOCOBMXXX.
In an analysis published on April 30, 2026, the Bancolombia Blog explained the breakdown of its identifier:
- COLO represents the banking institution.
- CO designates the country code for Colombia.
- BM identifies the principal office cities of Bogotá and Medellín.
The same publication notes that COLOCOBM serves as the code for Bancolombia’s main offices. Bancolombia does not say whether that one code covers every branch, and its receiving pages list only COLOCOBM. Use COLOCOBM and confirm the account details with the recipient before you send the wire.
Required Details for a Bancolombia SWIFT Code Wire
The sender needs specific details about the recipient. A wire to a Colombian account uses the SWIFT code and the account number, with no International Bank Account Number (IBAN) and no US routing number.
Colombia does not appear in the IBAN structure table published by IBAN.com. On May 29, 2024, the Bancolombia Blog reiterated that IBAN strings, which span between 16 and 34 characters, apply only when customers send transfers outbound to European institutions. Bancolombia’s receiving pages publish no US intermediary bank name, SWIFT code or routing number. The sending financial institution determines the international routing chain independently.
| Wire instruction field | Required entry | Official source |
|---|---|---|
| Beneficiary bank name | Bancolombia S.A. | Bancolombia Empresas |
| SWIFT / Business Identifier Code (BIC) | COLOCOBM or COLOCOBMXXX | Bancolombia Recibir Transferencias |
| Recipient legal name | Full names and surnames (nombres y apellidos completos) | Bancolombia Cómo Recibir el Giro |
| Account type | Savings (cuenta de ahorros) or checking (cuenta corriente) | Bancolombia Centro de Ayuda |
| Account number | Recipient’s direct Bancolombia account number | Bancolombia Cómo Recibir el Giro |
| Recipient location | Destination city and country | Bancolombia Centro de Ayuda |
| Recipient telephone | Active contact phone number | Bancolombia Centro de Ayuda |
| Transfer purpose | Motivo de la transferencia | Bancolombia Blog |
On its corporate wire portal, Bancolombia Empresas lists Carrera 48 # 26 - 85, Medellín, Colombia, as a contact address and does not label it as the beneficiary-bank address for wire instructions. When wiring to a corporate beneficiary, senders must provide the registered corporate name (razón social) alongside the checking or savings account number.
Incoming Transfer Steps for the Recipient
A wire sent with the Bancolombia SWIFT code does not land in the account on its own unless the account holder has turned on Abono Automático. Without it, the recipient accepts the wire in Sucursal Virtual.
According to Bancolombia’s product documentation, recipients can process incoming funds through Sucursal Virtual Personas, Sucursal Virtual Negocios, the specialized international commerce telephone line, or a physical branch office for cash or check settlements. Inside the web portal, the recipient navigates through:
Inicio > Transferencias Internacionales > Recibir
During this review step, the recipient must examine and accept the foreign exchange valuation before Bancolombia credits the balance. Bancolombia’s receiving guidelines establish that the account holder must actively accept the transfer within a 30-day window. Bancolombia does not say what happens to a transfer left unaccepted after 30 days, so accept it inside that window or turn on Abono Automático before the money arrives.
Inside Sucursal Virtual Personas, incoming transfers reflect specific status labels detailed by the Bancolombia Help Center:
- Aceptar transacción: The wire has arrived and awaits manual exchange rate acceptance by the recipient.
- Abonado: The transfer has been accepted and credited to the designated account.
- Abonado automáticamente: The system credited the transfer immediately under an automated profile.
- Entregada: The funds have been disbursed to the beneficiary.
Account holders can automate this workflow by activating Abono Automático. The Bancolombia Help Center explains that clients can turn this feature on through the “Activar Abono Automático” button inside Sucursal Virtual Personas or at a physical branch office. For a first-time branch request, the applicant must present their original identification card alongside a photocopy enlarged to 150 percent. Enrollment takes effect immediately across both channels.
Sucursal Virtual Personas processes inbound transfers up to a ceiling of 249,999 United States dollars (USD). If an inbound wire exceeds that limit, the recipient must contact Bancolombia’s international commerce line to present transaction documentation. Bancolombia accepts account wire transfers denominated in USD, euros (EUR), British pounds (GBP), Japanese yen (JPY), Canadian dollars (CAD), Mexican pesos (MXN), and Swiss francs (CHF). International physical checks are accepted only in USD, GBP, and CAD.
Transfer Costs and Exchange Rates
An incoming wire can lose value in two places: charges taken by banks along the route, and the exchange rate Bancolombia uses to convert it to pesos.
Bancolombia states on its receiving portal that receiving international transfers carries no service charge from Bancolombia itself (“Recibir transferencias no tiene costo, pero pueden existir cargos de otros bancos”). Bancolombia Empresas notes that several foreign banks may take part in routing the payment and each may deduct charges, so the amount that arrives in Colombia can be lower than the amount sent.
On May 29, 2024, the Bancolombia Blog explained how wire fee allocations operate:
- BEN (Beneficiary pays all charges): The recipient absorbs all intermediary bank fees abroad, which are deducted directly from the gross transfer sum before arrival.
- OUR (Sender pays all charges): The remitter pays the originating and third-party fees up front, protecting the transferred principal.
- SHA (Shared charges): The sender covers originating bank costs, while subsequent processing charges fall to the recipient.
Foreign exchange conversion introduces a separate cost. When crediting an international payment, Bancolombia converts the foreign currency into Colombian pesos (COP) using its own proprietary commercial exchange rate, which Bancolombia sets daily. This commercial rate differs from the official market benchmark, the Tasa Representativa del Mercado (TRM).
Outbound transfers follow an entirely different pricing structure. The Bancolombia Help Center puts the fee for sending a wire out through Sucursal Virtual Personas at 4.5 percent of the USD amount plus 5 USD. That charge has a minimum of 12 USD and a maximum of 29 USD, plus value-added tax (IVA). Outgoing personal transfers carry a general daily ceiling of 10,000 USD. The 4.5 percent fee is for money leaving a Bancolombia account, and Bancolombia does not charge it on a wire you receive.
Colombian Foreign Exchange Regulations and Numerals
Money entering Colombia from abroad is classified under exchange rules set by the central bank, Banco de la República. Commercial banks operating as foreign exchange intermediaries (Intermediarios del Mercado Cambiario, or IMC) report incoming international transfers to the central bank.
Recipients used to file an exchange declaration known as Formulario No 5. Under Concepto JDS-12379, issued on June 10, 2011, a resident paid in pesos for a transfer from abroad filed that declaration with the IMC. The declaration carried the numeral matching the transfer’s purpose. Formulario No 5 has since been replaced by reporting of minimum transaction data (datos mínimos de las operaciones de cambio) under circular DCIP-83.
Banco de la República DCIP-83 Anexo 1, as amended on December 16, 2025, defines the standard foreign exchange concept codes (numerales cambiarios) used for statistical tracking:
- Numeral 1809 (Remesas de trabajadores): Foreign currency inflows originating from remittances sent by Colombian nationals working abroad.
- Numeral 1810 (Donaciones y transferencias que no generan contraprestación): Sums received, such as gifts, that generate nothing in return for the recipient.
- Numeral 1812 (Remesas de trabajadores para la adquisición de vivienda): Worker remittances directed toward residential property acquisition in Colombia.
- Numeral 1813: Remittances sent by non-resident Colombians into simplified savings accounts.
- Numeral 1814: Foreign currency purchases dedicated to remittance dispersion accounts, added to the regulatory framework in December 2025.
Bancolombia does not publish which numeral its receiving process assigns to a transfer, so ask Bancolombia through its receiving page which one applies before you accept the wire. When individuals transfer capital to purchase Colombian real estate, the transaction must follow specialized foreign investment registration procedures rather than routine personal remittance channels. Review our guide on sending money to buy property in Colombia for legal and central bank requirements governing real estate acquisitions.
Transfer Timing and Delivery Channels
The time required for an international transfer to clear into a Bancolombia account depends on the routing network and the recipient’s account configuration.
| Transfer channel | Settlement timeframe | Conditions |
|---|---|---|
| Interbank SWIFT wire (manual acceptance) | 1 to 3 business days | Recipient must review and accept the exchange rate in Sucursal Virtual |
| Interbank SWIFT wire (Abono Automático) | Immediate upon bank clearance | Requires pre-enrolled savings or checking account |
| Remittance service provider | 20 minutes to 1 calendar day | Sent through a money remittance company |
According to the Bancolombia Help Center, a standard interbank wire requires 1 to 3 business days to become available if the recipient must manually claim it. With Abono Automático turned on, Bancolombia credits the funds immediately once it receives the wire.
A transfer sent through a money remittance company takes between 20 minutes and one calendar day. To evaluate digital transfer providers against bank wire paths, read our comparisons on sending money to Colombia from the USA and Wise versus Remitly for Colombia.
Receiving Money from Abroad Through an Agent
When a Bancolombia account holder is abroad, Bancolombia provides a branch-based proxy procedure.
The Bancolombia Help Center outlines that an authorized representative (apoderado) can process an international wire on behalf of an absent beneficiary at a physical branch office. The representative must present:
- A copy of the identification document enlarged to 150 percent.
- A formalized power of attorney (poder).
If the power of attorney is executed abroad, it must carry an apostille or be granted before a Colombian consul. If you also need a Colombian ID to bank locally, see our guide to the cédula de extranjería in Colombia.
Bancolombia Presence in the United States and the Next Step
Bancolombia has group entities outside Colombia, but its site names no retail branch on the US mainland.
In its institutional disclosures on foreign entities, Bancolombia notes that its group products and services are available through international entities operating across Panama, Guatemala, El Salvador, the United States, and Puerto Rico. Its international structural roster lists specialized subsidiaries including:
- Bancolombia Puerto Rico
- Sucursal Panamá and Bancolombia Panamá
- Banistmo, Banco Agrícola, and BAM
- Cibest Capital and Valores Banistmo
Bancolombia Puerto Rico is a separate group entity, and Bancolombia publishes no domestic US route through it into an account in Colombia. A transfer from a US bank to a Bancolombia account in Colombia goes as an international wire using the SWIFT code COLOCOBM.
Before you send, get the recipient’s full name, account type and account number exactly as Bancolombia holds them, then give your bank the Bancolombia SWIFT code COLOCOBM. Ask the recipient to accept the transfer in Sucursal Virtual within 30 days, or to switch on Abono Automático first. If you are moving to Colombia or buying property and want help lining up the transfer, contact our team.