Send Money to Russia Cheaply

Russia

Find a reliable and affordable way to send an international money transfer to Russia from Canada.

In the 2011 census, over 550,000 Canadians claimed to have full or partial Russian ancestry. With such high numbers of immigration between the two countries and many business opportunities, there is a great need for affordable and speedy money transfer services between the two nations.

If you ever need to send an international money transfer from Canada to Russia, perhaps to provide financial support to friends or family or to pay business expenses, there are several banks and money transfer companies who can help. Keep in mind that it is important that you compare your options and shop around for competitive exchange rates and low transfer fees, otherwise your international transfer could end up costing you a whole lot more than it should.

Compare Money Transfer Services

Rates last updated February 19th, 2018
Name Product Min. Transfer Amount Transfer Speed Services Online Transfer Fee Rate Amount Received Description
TorFX International Money Transfers
USD 150
1 day
Online, Phone, Agent
TorFX guarantee to beat any competitor's exchange rate for a transaction. Conditions apply.

Send money overseas in 45 currencies.
Exclusive: World First International Money Transfers
USD 1,000
1 day
Online, Phone
Exclusive offer: $0 transfer fee and discounted exchange rates for your first trade only.
A higher exchange rate applies to non-finder customers. Send money in more than 130 currencies.
TransferWise International Money Transfers
$5
1 - 2 days
Online
Make online transfers with transparent exchange rates, low fees and low minimum amounts.
Exclusive: OFX (Ozforex) International Money Transfers
USD 150
1 day
Online, Phone, Agent
Exclusive offer: Discounted exchange rates for your first and ongoing transactions. $0 transfer fee.
A higher exchange rate applies to non-finder customers. Send money in 45 currencies.
FC Exchange International Money Transfers
FC Exchange International Money Transfers
GBP 1,000
1 day
Online, Phone, Bank Account to Bank Account
FC Exchange can save you money with its Best Exchange Rate Guarantee. Conditions apply.

No transfer fee when transferring more than £10,000 or equivalent. Send money in 43 currencies.
Compass Global Markets International Money Transfers
$1,000
1 day
Online, Phone
Send money overseas in at least 140 currencies.
The ‘Rate’ and ‘Amount Received’ displayed are indicative rates that have been supplied by each brand or gathered by Finder.

Exchange rates are volatile and change often. As a result, the exchange rate listed on Finder may vary to the actual exchange rate quoted for the brand. Please confirm the actual exchange rate and mention “Finder” before you commit to a brand.

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Save money on your personal or business international money transfer today. Fill in the form and you’ll be contacted by a foreign exchange expert to have an obligation-free discussion about your options. Our foreign exchange experts offer a best rate guarantee, are ASIC authorised and never charge transfer fees.

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Banks versus money transfer services

Many people forget to compare their money transfer options and instead head straight to their banks thinking that if the bank handles all of their other financial needs, why not see if it can handle an international transfer to Russia as well? Unfortunately, banks are notorious for providing poor exchange rates on international wire transfers, not to mention charging high fees on each transaction. Furthermore, bank transfers generally take anywhere from two to five days to arrive.

The banks offer such a raw deal on international money transfers that recent years have seen the emergence of several specialist online money transfer companies. With expertise in moving funds overseas, these companies, such as TorFX and WorldRemit, offer competitive exchange rates and lower fees than the banks. There are plenty of other reputable specialist online transfer providers available – you can find a list of them at finder – but many of them don’t offer any support for Russian Rubles from Canada. With that said, a fair number of companies do offer this service between Russia and Canada including TorFX, FairFX and TransferWise. These companies should allow you to send Russian Rubles.

Another option is to use a money transfer company with a cash pickup option, such as Western Union or MoneyGram. These two companies offer large worldwide transfer networks and allow your recipient to pick up the cash you send within minutes. You can usually send bank transfers with both of these companies too.

Case study: Vera sends money to Russia

Vera has been working in Canada on a contract and after working here for six months, she’s decided she will one day apply to become a permanent resident. Although she loves Canada, Vera still maintains strong ties with her homeland, specifically with her parents who still live in Russia. So when they need money to help pay their mortgage, Vera offers to send $1,000 Canadian dollars as soon as possible. Instead of accepting the low exchange rate offered by her bank, Vera compares two money transfer companies to see which one will offer a more affordable solution.

Money transfer company 1Money transfer company 2
Exchange rate$1 CAD = 45.79 RUB$1 CAD = 42.98 RUB
Transfer fee$15$40
Transfer methodDirect depositCash pickup
Transfer timeLess than 24 hoursJust minutes
Amount received45,120.86 RUB42,988.00 RUB

As you can see, Vera can send the money cheaper with transfer company 1, however the money will take up to one day to arrive. If she chooses the slightly more expensive option with a less competitive exchange rate, she will be able to send the money in just minutes and have her parents pick it up in cash. Money companies that can send the cash faster tend to charge higher fees.

How do I compare transfer companies when transferring money to Russia?

  • Exchange rates. What exchange rate does the company offer when converting Canadian Dollars to Russian Rubles? Keep in mind some companies will convert your CAD to USD and then to RUB, meaning you will lose more to the exchange rate.
  • Transfer fees. Compare how much each company will charge you for sending your money overseas. Some companies will completely waive fees if you send over a certain amount of money, however this is usually somewhere around the $10,000 mark.
  • Transfer time. How long will it take from the moment you pay for your transfer to the moment your recipient gets the cash in hand or in their bank account?
  • Transfer methods. Will you place your transfer online, over the phone or will you need to visit a branch?
  • Pickup methods. Does the company offer a cash pickup option or transfers directly into bank accounts? If they offer cash pickups, do they have locations convenient for both you and your recipient to access?
  • Flexible options. Can you place forward contracts and limit orders, or perhaps schedule regular payments to provide extra convenience?
  • Minimum transfer limit. Does a minimum limit apply to all transfers and will you be able to exceed it? Keep in mind some companies may also set a maximum limit.
  • Customer service. Will you be able to access phone, email and online support if you ever need help with a transaction? Some companies will be available 24/7, while other companies may only be available for a few hours a day. Finding a company with a reputable customer service team is important.

How do I send money to Russia from Canada?

  • Bank-to-bank transfers. Ask your bank about sending an international money transfer to Russia. Most of the big Canadian banks like RBC, TD, Scotiabank, CIBC and BMO will allow you to send money from Canada to Russia.
  • Online money transfer providers. Compare online transfer companies to see which ones offer transfers to Russia. As mentioned above, FairFX, TorFX and TransferWise should allow transfers from Canada to Russia.
  • Money transfer providers with cash pickup option. Companies like Western Union, MoneyGram and Xpress Money offer this service between Canada and Russia.
  • International money order. Ask your bank if they can provide you with an international bank draft. Keep in mind that this is the slowest way to send money overseas.

Emergency cash transfers in Russia

While sometimes you have the luxury of being able to wait several days for your funds to arrive, there are other times when you need to send your money to Russia as quickly as possible. When you find yourself in such a situation, always remember to check the exchange rate and any fees that apply to your transaction, as urgent transfers will usually cost more. Read and understand all of the details of your transaction before you hand over your money, as this will prevent any nasty surprises in the future.

Cash pickup locations in Russia/ Western Union / MoneyGram branches in Russia

If you want to send a cash transfer to Russia, Western Union and MoneyGram both offer plenty of agent locations throughout Russia. Some popular cash pickup locations are listed below, but ask your recipient to confirm the addresses and opening hours before visiting. Taking along a transaction tracking number and photo ID is also essential to pickup the funds without any problems.

Western Union

Moscow

  • MTC Bank
    Москва, 129010
    +7-495-2251520
    Open 9:30am to 8pm Monday to Friday, 9:30am to 3pm Saturday
  • ВТБ 24
    Красная Пл., 3
    Москва, 109012
    +7-495-9602424
    Open 10am to 10pm seven days

St Petersburg

  • BelarusBank
    Leninskaya Ul 2
    Krasnopole, 213560
    +375-2238-22760
    Open 8:30am to 7pm Monday to Friday, 8:30am to 4pm Saturday
  • MTC Bank
    Сенная Пл., 5
    Санкт-Петербург, 190031
    +7-812-3333443
    Open 9am to 10pm Monday to Friday

MoneyGram

Moscow

  • MTS
    Menzhinskogo Dom 36 Korpus 2
    Moskva G
    4957108606
    Open 9am to 9pm seven days
  • MTS
    Pyatnitskoe Sh 39
    Moskovskaya Obl
    Moskow G,
    4957108606
    Open 10am to 10pm seven days

St Petersburg

  • MTS
    Nauki Pr-Kt Dom 14
    Sankt-Peterburg G
    4957108606
    Open 9am to 10pm seven days
  • Bank Viking
    Nevskiy Prospekt 35
    Saint-Petersburg, 191011
    8127105433
    Open 10am to 10pm seven days

Tips for picking up cash in Russia

The Government of Canada recommends that Canadian travellers in Russia exercise a high degree of caution, explaining that petty crime, pickpocketing, mugging and threats of terrorism are all common problems in high tourist areas. With this in mind, make sure to exercise extreme caution when picking up a cash transfer in Russia. Only visit a transfer agent in an area where you feel safe and make sure to stay aware of your personal security at all times. Don’t display your money in public and leave it somewhere safe as soon as possible. Try to avoid public transportation with lots of cash and always withdraw funds in the daylight.

How to send money to Russia

As you can see, there are several options at your disposal when you need to send money to Russia. Transfer processes will vary depending on the provider you choose, but you will usually have to provide your name, address, contact details and proof of ID before you can send a transfer.

Next, you’ll need to supply your recipient’s information, such as their name and contact details, and in some cases their bank account information. Once you’ve entered how much money you would like to transfer and in which currency, you can pay for your transfer and wait for the funds to be sent to your recipient.

You will also usually be given a tracking number to allow you to check up on the progress of your transfer.

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