WorldRemit Promotions: $20 Sign Up & $20 Per Referral

This is the “Working 2020” link to get the $20/€25/A$35 bucks when you transfer atleast $100/€125/A$100 bucks

Referral code – MEENAG7
or use link https://www.worldremit.com/en/r/MEENAG7

Thanks for using referral

This the latest 2021 referral code – JOHNM395. Direct link – https://www.worldremit.com/en/r/johnm395

Once you have signed up and sent 150 CAD or more, you’ll be emailed a 30 CAD WorldRemit voucher code

I recently learned that my US bank, TD Bank, as of March 2019 has been charging a 3% foreign transaction fee on top of a $3 fee on foreign ATM withdrawals. That is nuts! Needless to say, I am moving my money to another bank/brokerage. After researching the issue, I found that the Charles Schwab high interest checking account was the most recommended. They don’t charge foreign transaction or monthly maintenance fees and ATM fees are reimbursed. To receive a signup bonus of $100 from Schwab go to http://www.schwab.com/public/schwab/nn/refer-prospect.html?refrid=REFERHYX2XDR6

In the meantime, I tried several money transfer services including XE, ShareMoney, Transferwise and WorldRemit to transfer money to myself in Colombia. So far I find WorldRemit https://www.worldremit.com/ the cheapest and fastest, especially if you use promo codes. You can send money from a credit card, debit card or bank to bank for direct deposit or for cash pickup. The exchange rate was better than XE or Sharenoney. The transfer cost is usually $2.99 to $3.99 per transfer but if you use the promo code 3FREE, 3GRATUIT or 3GRATIS at the checkout, you get the first three transactions fees waved. You must apply the code to your first, second and third transactions each time at checkout in order to benefit from the discount. Also, if a person signs up with a referral code, they get a $20 credit for the first $100 that is transferred and so does the person who gave them the referral code. I searched on the web for a referral code when I first signed up. I have no idea who the person was that offered the code but sure enough, I got a voucher for $20 credit for my next transfer. If you do sign up, use my referral code JORGEQ43 and you will get the $20 voucher as well. Once you’ve registered you can get your own referral code to give to people that need to transfer money to you.

One thing I learned when transferring funds using Worldremit directly into a Colombian bank account, the account needs to have been pre-authorized to receive funds from outside the country. My experience has been primarily with BancoColombia. In their jargon, the recipient account must be authorized to receive an “Abono Automático”. This can be authorized in person at the bank by completing a form. Otherwise the money needs to be sent for cash pick up and the recipient must pick up the cash at a local branch. In that case, they will make the recipient fill out a special form if there is not already one on file.

While I could use my US based credit and debit cards in person at stores in Colombia, they were being rejected online. This was an issue for me because sometimes products or sale items are only available online. Plus, it was not possible to pay for services like utilities online without a Colombian based debit or credit card. I therefore opened a Bancolombia savings account so that I could have a Colombian debit card that I could use online in Colombia. In my case, a Colombian cédula de extranjería was required to open the account which in turn requires a non-tourist visa. They also wanted proof of income. Tax returns should work. I own a rental apartment in Colombia and so all I had to provide was a certification from the inmobiliaria that manages the property that in fact I owned the rental property and certifying how much rent I was collecting. The account was supposedly active when I left the bank but in fact the card would not work until after a full working day had past. While at the bank, I would also ask about setting up the account for “abono automático” which as previously mentioned is required for direct deposits from foreign accounts. Finally, you will want to activate “clave dynamical” which is required for making online payments through Colombian services like PSE.

Getting a credit card in Colombia, as opposed to a debit card, will not be possible until you have some credit history. You can’t even signup for postpaid internet or phone services until you have some credit history. The other advantage of opening a banking account, or so I understand, is that you create a sort of credit history simply by paying with the debit card and by making regular deposits. I will have to see about that since I just opened the bank account.

This is the “Working 2020” link to get the $20/€25/A$35 bucks when you transfer atleast $100/€125/A$100 bucks

Referral code – DIPAKB32
or use link https://www.worldremit.com/en/r/DIPAKB32

Thanks for using referral 🙂