5 Popular Services for Money Transfer in Ukraine

A pile of dollars

While PayPal isn't officially available in Ukraine, many banks and online money transfer services give an opportunity to regularly receive and send money through this system in Ukraine.

Western Union

A pile of dollarsWestern Union is one of the most used money transfer systems in Ukraine. Customers use Western Union for both transfers in and outside the country. The system supports transactions in almost 130 currencies and over 200 countries. Online services are 24/7 all the year round.

Western Union partners with many banks in Ukraine, including PrivatBank, Raiffeisen Bank Aval, UniCreditBank and Pravex Bank. Customers collect money at agent locations available in many cities in Ukraine. You can pay with Visa and MasterCard debit and credit cards and the fees depend on the bank.

SWIFT

British poundsSWIFT is one of the most popular international transfers in the world. As a rule, payments are executed within 1-3 business days. In Ukraine, SWIFT is especially popular thanks to the support from numerous banks in all regions of the country. Customers can make SWIFT transactions with major banks like Raiffeisen bank Aval, Credit Agricole, PrivatBank, Alfa-Bank. Fees differ depending on the bank. To give an idea, PrivatBank charges 0.5% of the transferred amount (minimum UAH 5, not exceeding USD 500 + USD 12 in UAH at the NBU rate).

MoneyGram

Person counting money in front of a laptopThe leader among money transfer systems, MoneyGram, allows transferring and getting money on the territory of Ukraine. The system is supported by many large Ukrainian banks, such as PrivatBank, OschadBank, UkrEximBank, as well as Ukrainian postal service Ukrposhta. You can use the website to transfer money online 24/7 or at MoneyGram agents. Note that at agent locations only cash is accepted for transactions.

Besides, only EUR and USD are allowed for transactions. Fees depend on the payment method. The lowest fee is attached to an online bank account, which takes about 3-4 business days to go through. Visa and MasterCard are more expensive but it takes minutes to complete the transfer. Fees for a cash pickup depend on the location.

Payoneer

People signing papersPayoneer is a popular solution for money transfers among the freelances based in Ukraine that work for foreign marketplaces. Thus, Payoneer lets their clients receive money from top international enterprises like UpWork, Shutterstock, Airbnb, Amazon and others.

The fees depend on transfers: for instance, transfers of USD, EUR, GBP and JPY between Payoneer users are free. This global payment service lets you receive EUR, GBP, JPY, AUD, CAD and CNY for free and USD for 1% fee as if you had an account in a respective country. Marketplace fees like Upwork, Airbnb and Fiverr depend on the network.

iPay.ua

Person holding moneyThe online payment service iPay.ua along with MasterCard and payment service provider Fenige has launched a new money transfer service that covers Europe, including Ukraine. MasterCard clients with cards issued by European banks can now make online transfers directly to Mastercard cards of any Ukrainian bank in a matter of minutes.

The service currently allows making transfers in EUR, USD, GBP and PLN and the Polish zloty, and receiving money in UAH, EUR and USD. The transfer can range from EUR 1 to 1000 per day, but shouldn't exceed EUR 5000 per month. The transfer fee is 2% + EUR 1 from the amount of the transfer.

Photo source: unsplash.com. All images belong to their rightful authors.

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