Charging in euros from Colombia can cost between 3% and 8% of the amount, depending on the route the money takes. Here we tell you the difference between SEPA and SWIFT, what details your European client needs, and when each option is best.

Download the belo app and check how to charge in euros according to your account and current conditions.

What changes when a European client pays you

Charging in euros from Colombia can cost between 3% and 8% of the amount, depending on the route the money takes between your client's account and yours.

On a charge of 1,000 euros, that means receiving between 30 and 80 euros less than what your client sent, and most freelancers only discover this when they look at the credited amount.

The problem is rarely the currency. It lies in the transfer network used to move the money.

When a European client wants to pay you, they have two main routes available, and each works differently in terms of costs, times, and the number of intermediaries involved.

SEPA Transfer in Colombia versus SWIFT

SWIFT is the global network that banks use to send payment instructions between countries. It works with almost any currency and reaches practically any destination, but that flexibility comes at a cost. 

A SWIFT transfer can involve more than one intermediary entity along the way, and each can add charges.

The sending bank charges its commission, the correspondent banks can hold back a portion of the amount, and the receiving bank in Colombia usually applies an additional fee for receiving foreign currency.

SEPA is a payment system in euros designed to make transfers more agile and with fewer intermediaries. 

When your client pays via SEPA, the money travels within a unified network that reduces the links in the chain, which can translate into lower costs and shorter times.

An important point: some digital wallets, including belo, only accept SEPA payments when the sender is a business (legal entity), not a personal account.

Before asking your client to use this method, it is advisable to confirm whether they operate as an individual or as a company.

Cost comparison for a 1,000 euro charge

This does not mean that SEPA is automatically cheaper in all cases, because the final cost depends on the provider you use to receive, the exchange rate applied, and the current fees.

Details your European client needs to pay you

Your client will need specific information to complete the transfer, regardless of whether the payment travels via SWIFT or SEPA. 

An incorrectly entered detail can result in a rejection or a delay of several days, so it is best to check every field before sharing it.

Information you must share with your client

• The IBAN is the identifier of the receiving account in European format, composed of the country code, check digits, and the account number.

• The BIC code (also called SWIFT in a banking context) identifies the financial institution receiving the funds.

• The full name of the account holder must exactly match the registry of the receiving institution.

• In some cases, they may ask for the holder's address and a payment reference or concept that allows linking the transfer to a specific invoice or service.

Receiving euros in Colombia requires an account that accepts that currency, whether it is a foreign currency account at a local bank or an account with a digital provider enabled to operate with euros.

The preliminary step is always the same: verify what details are assigned to you to share with your client and confirm that the receiving method (SEPA or SWIFT) is enabled.

When each option is best for charging in euros

The choice between SEPA and SWIFT depends on three variables that are worth evaluating before agreeing on the payment method with your client.

Key variables for choosing between SEPA and SWIFT

• The first is who pays. If your client is a European company with a bank account in the SEPA zone, they can probably send you euros through that network with no significant costs on their side. If they work with a bank outside the Eurozone or need to send in another currency, SWIFT may be the only viable option.

• The second is which provider you use to receive euros in Colombia. Colombian banks usually receive international transfers in euros via SWIFT, with costs and times that vary depending on the institution.
  
  Digital solutions like belo allow you to receive euros via SEPA from the app, simplifying the process and allowing you to see the conditions before confirming each operation.

• The third is what you need to do next with those funds. If you are going to convert the euros into Colombian pesos, the exchange rate applied at the moment of conversion matters as much as the receiving fee. 
  
  Before choosing a provider, check the total cost of the transaction, including visible fees, potential third-party charges, and the exchange rate spread.

Receiving euros in Colombia as a freelancer charging from abroad is no longer an exclusively banking procedure. 

The combination of a European client paying via SEPA and a digital provider that accepts that network reduces intermediaries, shortens times, and makes the amount that arrives in your account more predictable. 

What hasn't changed is the need to check every detail before confirming, because in international transfers, the cost you didn't look at is the one that hurts the most.

Download the belo app and check how to charge in euros according to your account and current conditions.

Frequently asked questions about how to charge in euros from Colombia with a SEPA transfer

Do all digital providers in Colombia accept SEPA transfers?

Not all. Some digital providers only receive funds via SWIFT, which is the traditional banking network. Others, like belo, accept SEPA but only when the sender is a business, not a personal account.

Before sharing your details with a European client, check with your provider if SEPA is enabled for your account and what type of sending account it accepts.

Can my European client send you Colombian pesos directly?

In practice, almost no European bank operates with Colombian pesos. The most common scenario is that your client sends euros and the conversion happens on the Colombian side.

The exchange rate applied by your provider determines how many pesos you ultimately receive, so it is advisable to check that condition before confirming the payment method.

How long does it take for a SEPA transfer received in Colombia to be credited?

The time depends on the provider you use to receive. Within the SEPA zone, the movement can be completed in a few hours.

The final leg to your account in Colombia can add one or two business days depending on the receiving institution.

What happens if my client entered the IBAN incorrectly?

A transfer with an incorrect IBAN is usually automatically rejected by the system, although the return process can take several business days.

That is why it is recommended that your client confirms the details with you before executing the payment.

Is it better to receive euros and convert them later, or ask the client to send in pesos?

Receiving in euros and converting locally usually gives you more control over the timing and the exchange rate you apply. Asking a European bank for Colombian pesos means that bank sets the conversion rate.

Generally, that rate includes a less favorable spread for you, so local conversion is usually the more convenient option.