MoneyGram was used the most for incoming remittances to Colombia, although its market share stayed relatively unchanged in 2024. This is according to a custom-made calculation from Statista, based on the number of reported remittance channels going towards Colombia. The three countries from which Colombia received the highest value of remittances are the U.S., Venezuela, and Spain. Remittances are a relatively uncharted topic, though. While figures exist on the total traffic between individual countries ("corridors"), exact numbers on how much of this comes from banks, money transfer organizations (MTOs), or digital sources (blockchain, etc.) is typically not known. All figures on remittances are therefore estimates.
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Biggest brands for remittances in Colombia from 1st quarter 2011 to 3rd quarter 2024, based on remittance inflow from any other country
Figures are based on the number of remittance channels that exist in a remittance sending and/or receiving country, due to limited information on remittance transactions - be it the value or the number of transactions; From Q3 2024 onwards, the source removed Small World from its tracking - as this company entered administration in July 2024.
Supplementary notes
The figures provided have been calculated by Statista based off the Remittance Prices Worldwide from the World Bank and a methodology shared in a report from the OMFIF. This source reports the remittance channels that exist in a remittance sending and/or receiving country. The figures are shown are therefore not based off the number of remittances or the transaction value of remittances.
The World Bank launched a work group in 2023 to standardize remittance data in the future and better map out the topic. This includes an attempt at providing more detailed remittance flow information. The initial results of this work group are expected in the second half of 2024. More information can be found here.
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Statista. (March 27, 2025). Biggest brands for remittances in Colombia from 1st quarter 2011 to 3rd quarter 2024, based on remittance inflow from any other country [Graph]. In Statista. Retrieved June 27, 2025, from https://www.statista.com/statistics/1451086/remittance-inflows-by-brand-in-colombia/
Statista. "Biggest brands for remittances in Colombia from 1st quarter 2011 to 3rd quarter 2024, based on remittance inflow from any other country." Chart. March 27, 2025. Statista. Accessed June 27, 2025. https://www.statista.com/statistics/1451086/remittance-inflows-by-brand-in-colombia/
Statista. (2025). Biggest brands for remittances in Colombia from 1st quarter 2011 to 3rd quarter 2024, based on remittance inflow from any other country. Statista. Statista Inc.. Accessed: June 27, 2025. https://www.statista.com/statistics/1451086/remittance-inflows-by-brand-in-colombia/
Statista. "Biggest Brands for Remittances in Colombia from 1st Quarter 2011 to 3rd Quarter 2024, Based on Remittance Inflow from Any Other Country." Statista, Statista Inc., 27 Mar 2025, https://www.statista.com/statistics/1451086/remittance-inflows-by-brand-in-colombia/
Statista, Biggest brands for remittances in Colombia from 1st quarter 2011 to 3rd quarter 2024, based on remittance inflow from any other country Statista, https://www.statista.com/statistics/1451086/remittance-inflows-by-brand-in-colombia/ (last visited June 27, 2025)
Biggest brands for remittances in Colombia from 1st quarter 2011 to 3rd quarter 2024, based on remittance inflow from any other country [Graph], Statista, March 27, 2025. [Online]. Available: https://www.statista.com/statistics/1451086/remittance-inflows-by-brand-in-colombia/
