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You may deposit directly to your recipient's Colombian Peso bank account.
The following major banks in Colombia are supported:
Banco Agrario
Banco Av Villas
Banco de Bogotá
Banco de Occidente
Banco GNB Sudameris
Bancolombia
Bancoomeva
Banco Popular
BBVA
Caja Social
Citibank
Colpatria
CorpBanca (formerly Banco Santander)
Davivienda
Helm Bank (formerly Banco de Crédito)
HSBC (formerly Banistmo)