In this post we will analyze how to send money to Ukraine from different countries, using the cheapest and the fastest ways available
Do you need to transfer money to Ukraine quickly and without paying too much on fees? Check our guide below on the fastest and cheapest ways on how to send money to Ukraine from the US, the UK, Europe, Australia and other countries.
Sending Money to Ukraine: Overview
Before we list our options on how to send money to Ukraine there some factors you should consider and options to shop around. There are many money exchange servivces and many different types of optios to send money to Ukraine. However, transfers time and transactions fees vary greatly. For that reason, it is important to analyze whether you want to prioritize time, or if you can wait a bit longer to get a lower transfer price.
Another aspect you should consider is if the person receiving the money has a bank account in Ukraine. If the recipient does have a bank account in Ukraine this will usually reflect in lower transaction rates. On the other hand, if you need to send money fast to someone who is just visiting Ukraine on a short trip, it is still possible to do it. In that case, the transaction are usually much higher.
Finally, you should also consider where are you sending money to Ukraine from. If you are based in one of the EU, EEA countries or Switzerland, there are many services available. There are many options also to send money to Ukraine from the US, Canada, Australia, and other developed countries. If you are sending money to Ukraine from smaller Asian or Latin American countries, as well as most African countries, there are less options.
Sending Money to Ukraine: Costs
There are usually two types of costs involving sending money between countries, one of the transfer fee, and the other are incurred costs from the exchange rate. While some companies just have a transfer fee and have a pretty accurate exchange rate, others do not have a transfer fee and earn money on the exchange rate.
Some companies have transfer fees and also earn on the exchange rate. It is important to note that Ukraine’s currency is the hryvnia, so double check the exchange rates to make sure your transfer is cost effective. The code for the Ukrainian currency is UAH.
Ukraine Currency and Exchange Rates
The currency in Ukraine is the Ukrainian Hryvnia. Here are the currenct exchange rates for the UAH as of September 30, 2020.
1 USD to UAH: 28.29 UAH.
1 GBP to UAH: 36.32 UAH.
1 CHF to UAH: 30.69 UAH.
1 AUD to UAH: 20.13 UAH.
1 CAD to UAH: 21.10 UAH.
Sending Money to Ukraine: Cheap and Fast Options
Now let’s get to our list of the cheapest and fastest ways to send money to Ukraine:
Cheapest and Fastest Ways to Send Money to Ukraine
TransferWise is one of the most popular money transfer services in the world, due to its strong marketing campaigns. The service itself is also pretty fast efficient. One of the advantages of TransferWise is to use its Borderless account, which enables you to speed up receiving money. They also offer a debit card, which can be pretty handy.
Azimo is a pretty affordable option to send money from Europe to Ukraine. As of June 2018, it is still not possible to send money from the US, Canada or Australia to Ukraine using Azimo.
Transfergo is one of the newest players among the money exchange companies and an excellent choice if you want to send money to the Ukraine, especially from European countries.
Ria Money Transfer
Ria Money Transfer is another option for those willing to send money to Ukraine fast. You can use several options to send money to the Ukraine using Ria Money Transfer, including cash, debit and credit cards, and bank transfer.
Moneygram is another of the major players in the money transfer market. While it may not be the cheapest options, it has pick up locations everywhere in the Ukraine and globally.
XE money transfer
XE.com is one of the oldest foreign exchange and currency information websites. It also offers international money transfers at pretty competitive rates.
Payoneer is a great option especially for those working online. It is also a great option if both the sender and the person receiving have a Payoneer account. Payoneer also offers debit cards which are very handy.
Biggest Banks in Ukraine and Swift Codes
Privatbank – Swift: PBANUA2X
Oschadbank – Swift: COSBUAUK
Ukreximbank – Swift: EXBSUAUXXXX
Raiffeisen Bank Aval – Swift: AVALUAUKXXX
Alfa Bank Ukraine – Swift: ALFAUAUKXXX
Other Ukraine Resources
If you are traveling or moving to Ukraine any time soon, you may want to check some guides to Ukrane here. Have you transferred money to Ukraine or are you planning to do it? Leave your thoughts on the comment box below.