How Can I Send Money to Someone in Ukraine?

Sending money across international borders requires careful consideration, particularly when sending funds to Ukraine. This guide clarifies the various methods available, the information required for a successful transfer, and how recipients access funds, to ensure funds reach recipients efficiently.

Understanding Your Money Transfer Options

Several types of services facilitate international money transfers, each with distinct characteristics regarding speed, cost, and convenience. Evaluating these options can help you select the most suitable method for your specific needs.

International bank transfers, via the SWIFT (Society for Worldwide Interbank Financial Telecommunication) network, are a traditional method for sending funds. These transfers are reliable and secure, suitable for larger amounts. Funds typically arrive within one to five business days. Fees can range from approximately $25 to $50 per transaction, and the exchange rate applied may include a markup on the interbank rate.

Online money transfer services, such as Wise, Remitly, Xoom, and TransferGo, offer a digital approach to international remittances. These platforms are favored for their competitive exchange rates, closer to the mid-market rate, and lower fees compared to traditional banks. Funds sent through these services can arrive quickly, often within minutes or hours. Senders typically fund these transfers using a bank account, debit card, or credit card, and the recipient can receive funds directly into their bank account or debit card.

Traditional money transfer operators like Western Union and MoneyGram offer widespread cash pickup through extensive agent networks. These services are chosen for their speed, as funds are often available within minutes. While convenient, these operators may have higher fees or less favorable exchange rates compared to online-only services, with costs ranging from 0.9% to over 2% of the transfer amount. Senders can initiate transfers online, via an app, or in person at an agent location.

Peer-to-peer (P2P) payment applications like PayPal and Revolut facilitate international transfers, with varying capabilities for Ukraine. PayPal has temporarily waived fees for transfers to and from Ukrainian accounts until March 31, 2025. Revolut supports bank transfers to Ukraine and offers fee-free card transfers up to a certain limit per month, with a 1% fee thereafter. However, some P2P services may have limitations on regions within Ukraine.

Essential Information and Preparation

Before initiating any money transfer to Ukraine, gather precise information and understand the financial implications. This preparatory phase helps ensure a smooth and compliant transaction.

Accurate recipient information is essential for a successful transfer. You will need the recipient’s full legal name, as it appears on their government-issued identification. Their address and phone number are also necessary. For transfers directly to a bank account, you must obtain the recipient’s International Bank Account Number (IBAN) and the bank’s SWIFT/BIC code. If sending to a debit card, the full card number is often sufficient.

The sender must also provide personal details and may undergo verification to comply with anti-money laundering (AML) and “Know Your Customer” (KYC) regulations. This involves presenting government-issued identification, such as a driver’s license, passport, or proof of address. For transfers of $3,000 or more, financial institutions are required to collect records of the sender’s name, address, and taxpayer identification number (e.g., Social Security number).

Understanding the total cost of a transfer involves more than just the upfront fee; it also includes the exchange rate applied. Financial institutions and money transfer services often apply a markup to the interbank exchange rate, the rate at which banks trade currencies. This markup represents an additional cost to the sender, reducing the Ukrainian Hryvnia (UAH) the recipient receives. Comparing the exact amount the recipient will receive in UAH across different services provides a clearer picture of the true cost.

Transfer limits are imposed by both the service provider and financial regulations. Financial institutions are required to report transfers exceeding a cumulative total of $10,000 to government agencies under the Bank Secrecy Act (BSA). Some services may have lower individual transaction limits; for example, Wise has limits up to 399,999 UAH for PrivatBank and 29,999 UAH for non-PrivatBank accounts. Confirm these limits before initiating a large transfer.

When choosing a service, consider the recipient’s access to banking facilities or cash pickup locations in Ukraine, the urgency of the transfer, and the total cost. For recipients without traditional bank accounts, cash pickup services may be more practical. For those with bank accounts, online transfer services often provide a cost-effective and convenient option. Some services may also have restrictions on sending funds to certain regions within Ukraine.

Executing Your Money Transfer

Once you have gathered all necessary information and selected a transfer method, the next step involves initiating the transaction. The specific process varies depending on whether you choose an online platform or an in-person service.

Online money transfers typically begin by logging into your chosen service’s website or mobile application. Select the option to send money, specify Ukraine as the destination, and enter the amount. The system will display the exchange rate, fees, and the exact amount the recipient will receive. Input the recipient’s details, such as their full name and bank account or card number. Finally, select your payment method, such as a bank transfer, debit card, or credit card, and confirm the transaction.

If you opt for an in-person transfer at an agent location, bring your government-issued identification. At the counter, provide the agent with recipient details and the amount. Complete a transfer form and pay the total amount, including fees, usually in cash or via debit card. The agent will provide you with a transaction number, such as a Money Transfer Control Number (MTCN), which is essential for tracking the transfer.

After the transfer is initiated, most services provide a tracking or reference code. This code allows you to monitor the status of your transfer online. Share this tracking number with your recipient, as it is needed for them to inquire or pick up funds.

Keep all receipts and confirmation emails. These documents contain important information about your transaction, including the amount sent, fees paid, exchange rate, and tracking number. These records can be helpful if any issues or discrepancies arise with the transfer.

Ensuring Successful Receipt in Ukraine

The final stage of the money transfer process involves the recipient successfully accessing the funds in Ukraine. This step also has specific requirements and can be influenced by local conditions.

The recipient must be ready to claim funds using the tracking number and valid identification. For cash pickups, the recipient must present an original Ukrainian passport (internal or international) or a Ukrainian-issued driver’s license at the designated agent location. For bank transfers, the funds will be deposited directly into their Ukrainian bank account.

Funds can be accessed in various ways within Ukraine. Direct deposits are common for transfers to major Ukrainian banks like PrivatBank, Monobank, and Oschadbank. Cash pickup remains a widely used method through networks like Western Union and MoneyGram, often available at bank branches or post offices. Some services may also support direct deposits to Visa or Mastercard debit cards linked to Ukrainian bank accounts.

Most international money transfers to Ukraine are ultimately received in Ukrainian Hryvnia (UAH), the national currency. While some services might allow sending in EUR or USD, the funds are typically converted to UAH upon receipt, and the exchange rate applied is determined by the receiving financial institution or service provider.

Recipients in Ukraine may face logistical challenges. Power outages can affect the operation of ATMs and bank branches, causing delays or limiting access. The National Bank of Ukraine has identified specific bank branches designed to operate during blackouts. Senders should communicate with recipients about these potential issues and confirm service availability at their intended pickup or receiving location.

If the money does not arrive as expected, sender and recipient should first contact the money transfer service’s customer support. Having the tracking number available will expedite troubleshooting. Recipients should also be cautious of scams and only provide personal or financial information to trusted sources, such as official bank representatives or known agents.