The Best Options for Sending Funds to Ukraine

Ukraine's ongoing conflict has led to many disruptions in the economy, including banking and financial services provided to the region. It is not uncommon to see restrictions and added scrutiny on regular money transfers at a time when Ukrainians could do with the additional foreign income.

Despite these challenging circumstances, there are ways to get your money to Ukrainians in need, whether family or business partners. Let's explore the available methods and the best platforms to get your money across.

Money Transfers to Ukraine

Conventionally, money transfers to the region are handled through any of these options:

• International Wire Transfers: Money is transferred from your bank account to a Ukrainian bank account. This method is secure and reliable but may involve fees and exchange rate considerations. The longer wait times of wire transfers are also a major drawback compared to other methods.

• Online Money Transfer Services: Platforms like PayPal, Western Union, TransferWise (now Wise), and Remitbee provide convenient ways to send money to Ukraine with competitive exchange rates. However, it's essential to be aware of any fees associated with these services.

• Cryptocurrency: Bitcoin and other cryptocurrencies can be sent directly to a recipient's digital wallet, providing a decentralized and potentially faster option. However, the volatility of cryptocurrencies should be taken into account when considering this option.

The Best Money Transfer Services for Sending Funds to Ukraine

Remitbee

Remitbee offers competitive exchange rates at minimal fees, allowing users to transfer funds directly to Ukrainian bank accounts.

Wise (formerly TransferWise)

Wise is known for its low-cost international transfers. It provides real exchange rates with minimal fees, making it a popular choice for sending money to Ukraine.

PayPal

PayPal is a widely used online payment platform that allows users to send money internationally. Both the sender and the recipient need to have PayPal accounts.

Western Union

Western Union has a vast network and offers both online and offline options for sending money to Ukraine. While it may have higher fees compared to some online platforms, it is widely accessible, and recipients can pick up cash at local Western Union locations.

Skrill

Skrill provides online money transfer services, allowing users to send money to Ukraine and other countries with competitive fees. Skrill also offers a prepaid card that can be used for various transactions.

Why We Recommend Remitbee

Remitbee is an online money transfer service that allows convenient and efficient transfer of funds to Ukraine. The platform offers competitive exchange rates at low fees, making it an attractive option for users looking to transfer funds internationally. Users can initiate money transfers through the Remitbee website or mobile app, with a focus on transparency of fees and exchange rates involved.

Sending Funds Through Remitbee

Sending funds to Ukraine is as simple as: 1. Creating a Remitbee account 2. Entering the desired amount 3. Choosing the destination for your transfer 4. Filling in the recipient's banking details 5. Selecting one of Remitbee's available payment options

Payment Options with Remitbee

Remitbee offers versatile payment options, including e-transfers, EFTs, Interac Online, or Visa and Mastercard debit cards, to enhance its overall user experience and usability.

Fees When Sending Funds to Ukraine with Remitbee

Remitbee offers free transfers on any amount exceeding 500 CAD. The fee structure is as follows: - E-transfer (Bill Payment): $2.99 CAD (Transfers less than 500 CAD) / Free (Transfers greater than 500 CAD) - EFT: $2.99 CAD (Transfers less than 500 CAD) / Free (Transfers greater than 500 CAD) - Interac: $2.99 CAD (Transfers less than 500 CAD) / $2.99 CAD (Transfers greater than 500 CAD) - Visa Debit/Mastercard Debit: Starts from $2.99 CAD (Transfers less than 500 CAD) / $8.99+ CAD (Transfers greater than 500 CAD)

Variables to Keep in Mind When Sending Money to Ukraine

Exchange rates and fees play a crucial role in determining the value of the converted amount in Ukrainian hryvnia. Users should consider both factors when choosing a service.