Find the best way to send money to Russia

Looking for the best way to send money from the United States to family, friends or businesses in Russia (or even to your own overseas bank account)?

Unfortunately, Finder doesn't have any providers that can help you send money to Russia from the United States. Transferring money to countries like Russia is challenging, but services like Western Union and MoneyGram might be able to help.

Best ways to send money to Russia from the US

The best way to send money to Russia depends on your payment method, how you want your money to be received and how fast you need it to arrive.

• Online money transfer provider. When buying US dollars or Russian rubles , money transfer specialists typically offer better rates and cheaper fees than a local bank.
• Bank transfer. Bank transfers are an easy way to send money to Russia, but they charge extra for the convenience and are often slower than other methods. US banks generally add a 3% to 6% markup onto exchange rates.
• Cash pickup. If you need your money to arrive fast, cash pickup gives your recipient instant access to the money you've sent when they collect it from their agent location in Russia.
• Mobile wallet. Essentially an electronic wallet service, mobile wallets allow users to store, send and receive eligible currencies using their phone, often with fees attached.
• Home delivery. If your recipient may struggle to get to a cash pickup location, you may be able to opt for door-to-door cash delivery.

Cheapest way to send money to Russia

Bank transfers are typically the cheapest way to get your money to Russia. Remitly and HSBC Global Money have some of the lowest bank transfer fees of the brands we've compared.

When you're hunting down the cheapest ways to send money to Russia, it's more important to look at the overall cost of your transfer. This has a couple of elements:

• Transfer fees. While still cheaper than your American bank, some money transfer services charge either a fixed or percentage-based fee for making your transfer.
• Exchange rates. Another way money transfer providers make money is to add a margin to the mid-market USD/RUB exchange rate.

Some providers may charge the mid-market rate but add fees on top. Others may have very low fees but apply a markup on the exchange rate. This means it is important to compare exactly how many Russian rubles your recipient will end up with.

Safest way to send money to Russia

The safest way to get your money to Russia is to use a provider registered with the United States's industry regulator, the Consumer Financial Protection Bureau. All the companies we've compared in our table are overseen by a local regulator and comply with the relevant laws and regulations in both the United States and Russia.

A great way to dive deeper is by reading our extended reviews of each transfer service and researching first-hand customer feedback on Trustpilot and similar platforms.

Large money transfers to Russia

If you need to make a sizable money transfer to Russia, consider using a provider such as Remitly or Xe to benefit from its expertise in handling larger transfer amounts.

Using a large transfer specialist can have the following advantages:

• Tax guidance. Large transfers to Russia may have tax implications for you or your recipient. A transfer specialist can help get you up to speed on the IRS's latest advice.
• Foreign exchange (forex) tools. Advanced tools such as forward contracts, limit orders and stop-loss orders can help you lock in the RUB exchange rate you want.
• Account manager. Some money transfer providers assign a personal account manager who can help and advise you on your transfer needs.
• Phone service. If you want to talk your transfer through with someone, providers such as Remitly and HSBC Global Money can give you support over the phone.

How to send money to Russia from the US

To send money to Russia, you'll need the necessary documentation, your recipient's details and a way to pay.

1. Compare your options.
   
   Use our table to find a money transfer provider that sends funds to Russia. One may be better for cash pickups, while another may suit a bank transfer. Once you've found the best one for your requirements, click "Go to site".
2. Create an account.
   
   You'll need to give your name, address, contact details, proof of ID and method of payment.
3. Provide your recipient's details.
   
   Enter your recipient's name and contact information. If you're sending straight to their Russian bank account, you'll need the account number, SWIFT or IBAN plus their bank branch's address.
4. Enter your transfer amount.
   
   Make sure you're happy with the fees, exchange rates and transfer speed, then enter the amount you wish to send. Double-check the total Russian rubles your recipient gets.
5. Complete your transfer.
   
   Send your money transfer to Russia. Keep your transaction reference number safe so you can track your transfer. Your recipient may need it, too.

Example: Anastasia transfers money to Russia

Anastasia is working in the United States as a film producer and she stays in regular contact with her elderly parents back home in Russia. Her parents need some funds to help pay off a mortgage, so Anastasia plans to send them $2,000 from the United States.

She decides to compare a bank and a money transfer specialist to see which one can save the most money on her transaction.

	Bank	Money transfer company
Exchange rate	1 USD = 109.76 RUB	1 USD = 111.22 RUB
Transfer fee	$10	$2.50
Transfer method	Bank account deposit	Bank account deposit
Processing time	2 - 5 working days	Next day
Amount received	218,428.47 RUB	222,154.21 RUB

The money transfer company enables Anastasia to send an extra ₽3,725.74, which is transferred straight to her parents' Sberbank account.

How to choose the best money transfer companies to send money to Russia

When choosing a money transfer provider to send money from the United States to Russia, it's important to consider the cost, how you want your recipient to receive the funds and the turnaround time. Here are other features to review:

• Exchange rates. Banks and transfer services use the mid-market rate to trade with one another. It is the best rate you can get. However, not all money transfer providers offer you this mid-market rate so compare the RUB you're offered to the mid-market rate and look for the smallest difference.
• Transfer fees. Are you being charged a flat fee or a percentage of your transfer amount? For example, a provider offering to transfer your money to Russia for a flat or low fee might work out better if you plan to send a large amount.
• Transfer type. Does your recipient have a Russian bank account or is cash or cell phone top-up a better option? Each transfer type has different fees. For example, instant cash pickups tend to be more expensive than bank transfers .
• Transfer speed. If you need your transfer to arrive quickly, you can pay for an express delivery. Companies such as Remitly offer instant cash pickups but may charge more. If you're not in a rush, online money transfer services offer the best value and get your money to Russia faster and cheaper than banks.
• Transfer limits. Find out how much you can send with each service.
• Discounts. Some providers may offer you a free transfer simply for signing up. Others may offer a discount if you transfer more than a specific amount of Russian rubles.

Frequently asked questions

• How can I pay for my transfer to Russia?

  There are multiple ways to pay for your money transfer to Russia. The most common payment methods include bank transfer, credit card and debit card.

  How you pay can influence how quickly your Russian rubles arrive and the total cost of your transfer, so consider both when deciding.

• What details do I need to send money to Russia?

  • Photo identification: Most providers require a driver's license, passport or other American government-issued ID.
  • A way to pay: Your options depend on the provider's services. Popular methods include cash, debit or credit card and bank account transfers.
  • Recipient information: You'll need their name (matching their ID) plus contact details. If sending to a Russian bank account, you'll need their account number, SWIFT and branch details.

• What is required to receive money in Russia?

  • Transfer number: The reference number – sometimes called a PIN, MTCN or tracking number.
  • Government-issued ID: An official ID, such as a Russian passport or driver's license.
  • The transfer amount: To know how much has been sent, usually to within 10% of the total.
  • Sender information: The sender's name and address and the transfer's country of origin.

• How much money can I send online to Russia?

  This depends on your chosen provider, as each will have a sending limit. For example, services such as HSBC Global Money and Remitly allow you to transfer as little as 0, while others will have a significantly higher minimum threshold.

  Remember that some providers will have maximum transfer amounts as well, either as a result of American tax policies or because their service is more limited. If you need to send a large transfer, look for a provider with higher or no sending limits to Russia.

  Conversely, providers such as Taptap Send are better at sending smaller, regular amounts of money to Russia rather than large, one-off transfers.

• How long will it take for my money to arrive in Russia?

  The turnaround time for a money transfer to Russia depends on the provider and how you pay for the transfer. Expect your transfer to arrive within minutes if you pay using cash or with a debit or credit card. Paying by bank transfer can take longer – usually 2–5 days.

• Can I send money to Russia without a bank account?

  Yes, you can still send a money transfer if neither you nor your recipient in Russia has a bank account. Look at cash transfer providers such as Remitly, where you can pay with cash, and your recipient can collect it as cash or as a mobile phone reload on the other end.