How Remote Colombian Employees Can Access Euro Payments and Withdraw Funds in Crypto or Colombian Pesos

More so than ever before, employers are offering remote positions to freelancers globally. As a result, a significant number of Colombian remote employees are being paid in euros (EUR). However, the process of receiving Euro payments in Colombia and converting them to local currency or crypto is not straightforward. In this article, we discuss how Colombian freelancers and remote employees can receive Euro payments and convert them into cryptocurrency or cash out as Colombian pesos using the most efficient methods available.

Why Colombian Remote Workers Are Getting Paid in Euros

Colombian freelancers and remote professionals are becoming increasingly popular in Europe. Alongside the growing opportunities comes a change in the way payments are processed. More employers are sending Euro payments for Colombian freelancers because their business bank accounts are based in Europe or are located in the Eurozone.

But here’s the issue. Other than some payment applications, banks have high conversion fees and poor exchange rates. Remote workers in Colombia receiving EUR payments are looking for smarter payment options.

Most Common Obstacles When It Comes to Euro Payments in Colombia

1. Exorbitant Transfer Fees

Banks and money transfer services still make international transfers within the range of 5 per cent to 10 per cent.

2. Low Euro to Colombian Peso Conversion Rate

3. Outdated Processes

Certain types of international wire transfers can take as long as 5 days to post to your account in Colombia.

4. Inadequate Integration of Cryptocurrency

No Euro payment platform in Colombia enables conversion into cryptocurrency.

Best Methods of Receiving Payment in Euros while in Colombia

This has remained one of the most preferred options for remote employees in Colombia as it allows them to receive payments for international freelance projects.

1. Digital Bank Accounts or Fintech Platforms

Fintech platforms or Neobanks such as Wise, Payoneer and BizPay now offer Virtual IBAN accounts to receive Euro payments. These accounts provided are specifically for freelancers looking to get euro payments in Colombia with minimal fees, aiding traditional banking.

2. Crypto Payout Platforms

Other remote workers simply prefer to hold onto their euro freelance income and convert it into crypto once in Colombia.

Some people use platforms like BizPay that permit them to convert the Euro balance to stablecoins such as USDT or USDC, which can later be withdrawn in Pesos.

3. Withdrawal Payment Gateways Linked To Local Bank Accounts

Direct payout to Colombian bank accounts or digital wallets can be accessed through some services, which is a great advantage for users who need to cash out Euros to COP while in Colombia.

Integration of Products: How BizPay Assist Colombian Freelancers in Receiving Payment in Euros

The TransFi product BizPay is certainly a very helpful tool for remote workers in Colombia who receive payment in Euros. The platform allows freelancers to receive Euro payments directly into their BizPay wallet while in Colombia.

What makes it different?

The ability to convert EUR into crypto (like USDT) instantly
Or withdraw directly in COP to a local Colombian bank account
IST supports invoicing in Euros, which is ideal for freelancers dealing with clients from Europe
Real-time invoicing, tracking payments and competitive transfer fees

BizPay remains one of the best options available for Colombian freelancers who wish to enjoy prompt receipt of international payments without the high charges associated with banking services.

How to Receive Euro Payments as a Freelancer in Colombia

Follow these steps:

Create a BizPay account and obtain your Euro payment processing details (IBAN/SWIFT)
Invoice your client in EUR with clear payment instructions
BizPay Euro wallet: You will receive the payment in your wallet
Convert to Colombian Pesos (COP) and withdraw to your Colombian bank account or crypto
Withdraw in minutes, enjoy competitive rates, and rapid contract processing

This approach facilitates transactions for remote employees in Colombia who prefer being paid in euros and wish to withdraw in pesos or crypto.

Learn more: How Do Tariffs Get Paid?

What Makes Crypto Cashouts More Appealing?

Cashing out through cryptocurrency is much more straightforward. Some freelancers may prefer this method when cashing out Euro payments in Colombia for the following reasons:

Bypasses slow processes and limitations imposed by banks
Provides access to global investments and DeFi applications
Ideal for freelancers collaborating with blockchain or Web3 clients

There are many reliable crypto cashout services for Colombian freelancers who receive payments in EUR, especially with compliant payment options offered by BizPay.

Advantages of Employing Current Payout Platforms

Improved Financial Exchange: Fintechs outperform traditional banks on FX rates
Faster Processing: Payments are processed faster, enabling funds to be received in hours instead of days
Invest Flexibility: Earnings can be converted to stablecoins
Crystal Clear Fees: Understand how much is paid and received with accuracy

Final Thoughts

Colombia’s freelance economy is expanding at pace. This growth comes alongside a shift towards advanced payment systems. Carefully selecting the right platform means increased income alongside faster access to funds and novel financial opportunities for remote employees from Colombia receiving Euro payments.

BizPay is designed for the contemporary freelancer. Whether it is for converting EURO freelance income to crypto or cashing out in COP, BizPay has got you covered.

Frequently Asked Questions (FAQs)

1. What is the most suitable method for getting Euro payments in Colombia as a freelancer?
BizPay provides virtual Euro accounts alongside local cashout services.

2. Can I directly convert my Euro freelance income to crypto in Colombia?
Yes, BizPay enables direct conversion to stablecoins such as USDT.

3. Can you get paid in cryptocurrency for freelancing in Colombia?
Yes, because receiving and holding crypto is permitted even if it is not classified as legal tender in Colombia.

4. How long does it take to withdraw Euros to Colombian Pesos?
Depending on the platform, it can take anywhere from a few minutes to one business day.

5. Do international payments received while freelancing attract tax obligations in Colombia?
Yes, the foreign income needs to be reported to DIAN. It is advisable to get assistance from a tax professional.

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