Send money internationally to Ukraine (UAH) using the mid-market exchange rate. Check and compare the rates from the major financial providers.
Send money to Ukraine
What is the best UAH exchange rate today?
How much does it cost to send money to Ukraine?
- International money transfers shouldn’t be expensive.
- Make sure your provider doesn’t add hidden fees or bad exchange rates to your money transfer.
- You should choose a provider that uses the mid-market exchange rate to convert your money.
Economic and political situation in Ukraine
According to the UN report 2013, 5.5 millions of Ukrainians live outside their country. Among those migrants more than the half actually live in Russia for almost 3 millions of people. Then we find Ukrainians in the United States, Kazakhstan , Germany, Belarus, Poland and Italy.
But these figures are nothing compared to the number of migrants and refugees who left the country over the last two years because of the crisis that the country is experiencing.
We cannot talk about money transfers in Ukraine without speaking first of the political and economic situation in Ukraine. Since the Russian annexation of Crimea and the outbreak of the conflict in eastern Ukraine of 2015, the country is in the middle of a crisis, and not a small one. Because of the civil war many Ukrainians have been forced to leave their country to find refuge mainly in Russia or Poland.
In 2015 the country received 5.9 billions of US dollars, of which 3.1 billions were sent from Russia.
Alternatives to send money to Ukraine
First option is the banks, ask your bank if they allow you to send money to a bank account in Ukraine. However be aware that banks provide a low exchange rate and are usually slow and expensive. Famous ukrainian banks are Alfa bank, Idea bank, Artem bank and Donetsk.
Another option is to use a money transfer company as you'll get a better exchange rate. Several kinds of operators exist. There are the online services which are useful for small amounts to send, there are the brokers who only deal with large amounts of money, and there are the cash services which allow to receive cash almost everywhere in Ukraine in minutes. Western Union, MoneyGram and Ria money transfer have agencies there. In the big cities you'll find them inside banks' offices.
Note that it is not uncommon that banks and money transfer companies only allow to send Euros or US dollars in Ukraine. In that case you'll have then to convert your euros or dollars into the local currency in Ukraine.
Ukraine is primarily a cash economy so if you're travelling there it is better to have cash than a credit card because the credit card will not be accepted everywhere. However don't drag too much on you as the country remains with a high rate of theft. If you're travelling you can exchange your money at the airport but the exchange rate will be less favorable than exchange agencies in Kiev.