
Currencies Direct Multi-Currency Account for online sellers
Your detailed guide to the Currencies Direct Multi-Currency Account for online sellers, including exchange rates, fees, supported currencies and security. Read more…
Last updated:
If you’re looking to send money to Russia, you’ve come to the right place. We’ve compiled this handy guide to help you compare a number of reputable money transfer services to find the most competitive exchange rates and lowest transfer fees.
WorldRemit can help you get your money where it needs to go in minutes, with upfront exchange rates and low fees.
Use promo code FINDERCA on your first transfer and pay zero fees. T&Cs apply.
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.
Vera has been living and working in Winnipeg for a couple of years and she intermittently sends money home to her parents, who are retired in Russia but need help to make their mortgage payments from time to time. For many years, Vera has used her Canadian bank to facilitate wire transfers, but a friend recommends that she try an online money transfer company to avoid her bank’s steep $55 fee. She decides to compare two online money transfer providers to see if she can track down a better deal. The comparison below is based on exchange rates in the spring of 2018, so check current rates before making your choice.
Money Transfer Service 1 | Money Transfer Service 2 | |
---|---|---|
Exchange rates | CAD$1 = RUB 51.5 | CAD$1 = RUB 49.9 |
Transfer fees | $15 | $10 |
Amount received (for $1,000) | RUB 51,500 | RUB 49,900 |
Transfer speed | 2 – 5 days | 1 – 2 days |
Options available | Bank-to-bank transfer | Bank-to-bank tranfer or cash pick-up |
Vera realizes that she can save RUB 1,600 (around $30) in the exchange rate with the first money transfer option, but will need to pay an additional $5 in fees. This amounts to a total savings of $25.
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 overseas as quickly as possible. If you want to send a cash transfer to Russia, Western Union and MoneyGram both offer plenty of agent locations throughout Russia. Pro tip: Always remember to check the exchange rate and any fees that apply to your transaction, as urgent transfers will usually cost more.
The Government of Canada recommends that Canadian travellers in Russia exercise a high degree of caution (as of 29 August 2018). Petty crime like pickpocketing and mugging are common problems in high tourist areas. Make sure to exercise extreme caution when picking up a cash transfer in Russia and only visit agents located in safe neighborhoods. Visit during daylight hours in the company of a good friend and return to your hotel to stow your cash in a safe place as quickly as possible.
The basic steps you’ll need to follow when sending money to Russia are as follows:
Your detailed guide to the Currencies Direct Multi-Currency Account for online sellers, including exchange rates, fees, supported currencies and security. Read more…
The complete beginner’s guide to selling on eBay, including how to set up a store, eBay fees, shipping options and money-saving tips. Read more…
Find out everything you should know about telegraphic transfers and how safe they are. Read more…