A comparison of XE and PayPal money transfer providers. Which offers better fees and exchange rates? Find out here. Read more…
Save big on your next money transfer to Ukraine
How to send a fast, secure and affordable money transfer to Ukraine from Canada.
While Ukraine isn’t necessarily a hot spot for Canadian tourists due to ongoing political unrest in the country, there are over 1.3 million Ukrainians living in Canada. This has created a demand for affordable and convenient ways to send money between the two countries. Compare available money transfer services with our handy money transfer guide to find the most competitive exchange rates and lowest fees on your next money transfer to Ukraine.
WorldRemit International Money Transfers
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.
- Transfers to 150+ countries
- Send to bank account, cash pickup, mobile money, airtime top up
- Pay with card, Interac or Apple/Android Pay
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.
Many Canadians opt to send wire transfers with their banks instead of using another service, but this can end up costing an arm and a leg in the long run. Banks tend offer sub-par exchange rates and typically charge fees between $20 – $100 (which are high by industry standards). Money transfer services like TorFX or World First are often much more affordable option, with competitive exchange rates and low to no fees.
Case study: Bohdan sends money to Ukraine
Bohdan was raised in Canada and decides to stay in Toronto after his parents move back to Kiev to take care of his grandfather. Bohdan has a well-paying job with an accountancy firm and wants to help his parents with their move overseas. He decides to compare two online money transfer providers to see which one will offer the best 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|
CAD$1 = UAH 21
CAD$1 = UAH 20
Amount received (for $1,000)
|UAH 2,100||UAH 2,000|
2 – 5 days
1 – 2 days
or cash pick-up
Bohdan realizes that he can save UAH 100 (around $4.50) in the exchange rate with the first money transfer option, with an additional $15 in fees. This amounts to a total savings of around $19.50.
When looking at transferring money to Ukraine, there are things that you should consider. Some factors you might wish to consider are:
- Exchange rates and fees. Find a service that combines low fees and competitive exchange rates. Lock in the best deal by comparing quotes from 3 – 4 services or by selecting a provider from our comparison table.
- Transfer methods. Send money to Ukraine via bank-to-bank transfers, online transfers to a bank account or cash deposits to be collected at an agent location.
- Turnaround time. Use a cash transfer service to send money to Ukraine within minutes, or opt for a money transfer service like TransferWise to facilitate a cheaper transfer in 1 – 3 days.
- Customer service. Make sure you can contact your money transfer service directly – whether through phone, e-mail or online chat options – 24 hours per day.
There are only a handful of money transfer options that will send CAD to UAH, which include the following:
- Bank transfers. Many Canadian banks won’t organize wire transfers to Ukraine, but you may be able to order an international cheque or draft from your bank to send overseas using snail mail.
- Money transfer companies. TransferWise is one of the only money transfer companies that can offer convenient and affordable international transfers to Ukraine.
- Cash pickup transfers. Western Union and MoneyGram offer easy and fast cash transfers to Ukraine, although they typically charge higher fees than money transfer companies.
If you find yourself in need of emergency funds while in Ukraine, there are a few ways to have money sent to your location.
- Cash pick-up options. Transfer companies like MoneyGram and Western Union can send money to a number of cash collection points across Ukraine. Money is usually available within minutes of the transaction being sent overseas. Just beware that while these companies can be a lifesaver when you’re in a tight spot, they’re often more expensive than a bank-to-bank transfer.
- Credit cards or travel insurance. Major credit cards sometimes offer emergency cash to travelers (which is typically extended as a loan). You may also be able to purchase a travel insurance policy to cover loss and theft while on vacation.
The Government of Canada recommends that Canadian visitors to Ukraine exercise a high degree of caution (as of 11 September 2018). Petty crime like pickpocketing is common, particularly on public transportation and in crowded places like tourist areas, bars and nightclubs. If you do need to collect cash, find ab agent location in a safe neighborhood and call ahead to make sure they’ll have cash on hand. 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.
When sending money to Ukraine, you’ll need to supply the following information:
- Your name, email address and mobile number
- The recipient’s name and contact details
- Your bank account details
You’ll receive a tracking number and a notification once the money has reached its destination. Keep the receipt in case of any problems with the transfer.
You may also be interested in
Read our complete guide to dropshipping to discover how it works, how to find a reliable supplier and the pros and cons of this popular fulfilment method. Read more…
Check out this side-by-side comparison of XE and OFX to find out which provider offers the best value on international money transfers. Read more…
Ask an Expert
You must be logged in to post a comment.