Tips for Sending Money to Russia

Information verified correct on January 23rd, 2017

Russia

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

When you need to get money to a loved one overseas, the last thing you want to have to deal with is navigating a potentially complicated and expensive process. Sending money from the United States to Russia doesn’t have to be expensive. Compare the transfer fees and exchange rates of the many options available to you to get the most Russian rubles for your dollar.

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Rates last updated January 23rd, 2017

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Min. Transfer Amount Transfer Speed Services Online Transfer Fee Rate Amount Received
Payoneer International Money Transfers
Send Mass Payments To Your ... Send Mass Payments To Your Payees Worldwide
USD 20
OnlinePhone
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changing, click to check
your price today
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WorldRemit International Money Transfers
An online money transfer service ... An online money transfer service with cash pickup, bank account to bank account and airtime transfers available.
USD 1 Within an hour
OnlineCash Transfer
Rates are always
changing, click to check
your price today
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World First Foreign Exchange
Exclusive offer: $0 transfer fee ... Exclusive offer: $0 transfer fee
Transfer money into a range of currencies online and over the phone.
USD 500 2 days
OnlinePhone
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changing, click to check
your price today
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Transferwise International Money Transfers
Make online transfers in a ... Make online transfers in a range of currencies and enjoy high maximum transfer amounts.
USD 1 1 day
Online
Rates are always
changing, click to check
your price today
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HiFX International Money Transfers
Transfer money between 20 currencies ... Transfer money between 20 currencies and enjoy scheduled regular transfers. No fee for transfers over US $5,000.
USD 100 2 days
OnlinePhoneAgent
Rates are always
changing, click to check
your price today
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Currencies Direct International Money Transfers
$0 online transfer fee that ... $0 online transfer fee that you can access 24/7.
USD 100 2 days
OnlinePhone
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changing, click to check
your price today
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OFX International Money Transfers
Exclusive offer: Special exchange rates ... Exclusive offer: Special exchange rates and $0 transfer fee
OFX is currently offering finder.com exclusive exchange rates and $0 transfer fee on all transfers.
USD 150 1 day
OnlinePhoneAgentInternational Money Order...
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TorFX International Money Transfers
TorFX guarantee to beat any ... TorFX guarantee to beat any competitor's exchange rate for a transaction. Conditions apply
USD 150 1 day
OnlinePhoneAgent
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changing, click to check
your price today
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Banks versus money transfer services

If your bank handles all of your other financial needs, why not see if it can handle an international transfer to Russia for you as well? Unfortunately, banks are notorious for providing quite dismal exchange rates on international wire transfers, not to mention charging high fees on each transaction.

However, in recent years we have seen the emergence of several online money transfer companies. With expertise in moving funds abroad, these companies offer better exchange rates and lower fees than banks.

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.

Case study: Vera sends money to Russia

Vera has received a job in the U.S., and after working here for six months, she’s decided she will one day apply to become a permanent resident. Although she loves her new country, Vera still maintains strong ties with her homeland, specifically her parents. So when they need money to pay for repairs to their car, Vera offers to send the $1,000 as soon as possible. Instead of accepting the low exchange rate offered by her bank, Vera compares two money transfer companies with cash pickup options to see which one will offer a more affordable solution.

Money transfer company 1Money transfer company 2
Exchange rate$1 USD = $59.38 RUB$1 USD = $58.624 RUB
Transfer fee$10$0
Transfer methodOnline, phoneOnline
Transfer time2 days1 hour
Amount received$58,786 RUB$58,624

As you can see, although the second transfer company doesn’t charge a transfer fee, the first company’s better exchange rate allows Vera’s family to receive more money.

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

  • Exchange rates. What exchange rate does the company offer when converting U.S. dollars to Russian rubles?
  • Transfer fees. Compare how much each company will charge you for sending your money overseas.
  • Transfer time. How long will it take from the moment you pay for your transfer to the moment your beneficiary gets the cash in their wallet or 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 to bank accounts? If they offer cash pickups, do they have locations convenient for you and your recipient to access?
  • Flexible options. Can you lock in an ideal exchange rate now and transfer the money later, known as a forward contract? Does the institution offer limit orders, which allows you to take advantage of changing market conditions by executing the money transfer when a certain exchange rate is met? Can you schedule recurring payments?
  • Minimum transfer limit. Does a minimum limit apply to all transfers?
  • Customer service. Will you be able to access phone, email and online support if you ever need help with a transaction?
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Foreign exchange rates explained
The exchange rate determines how much one country’s currency is worth in another currency. When a country’s currency is strong, it will yield more money when exchanging it in a country with a weak currency. For example, in December 2016, the U.S dollar was worth approximately 19 Mexican pesos. However, most countries’ exchange rates are flexible, which means it can change from moment to moment. Factors that influence the exchange rate include interest rates, economic stability and inflation.

What are my options for sending money to Russia from the U.S.?

  • Bank-to-bank transfers. Ask your bank about sending an international money transfer to Russia.
  • Online money transfer providers. Compare online transfer companies to see which ones offer transfers to Russia.
  • Money transfer providers with a cash pickup option. Companies like Western Union, MoneyGram and Xpress Money offer this service.
  • International money order. Ask your bank if they can provide you with an international check or money order.
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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. Reading all the details of your transaction before you hand over your money will prevent any nasty surprises in the future.

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Tips for picking up cash in Russia

Picking up cash from a transfer agent in Russia? Follow a few simple steps to ensure that you and your money stay safe:

  • Avoid any areas where crime is known to be a problem.
  • Keep your wallet and/or bag safe and secure at all times.
  • Take a friend along to provide additional security and peace of mind.
  • Don’t flash your cash around in public.
  • Don’t carry large sums of money around for any longer than is absolutely necessary.
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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 explained 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 beneficiary.

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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US International Money Transfers Offers

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WorldRemit International Money Transfers

An online money transfer service with cash pickup, bank account to bank account and airtime transfers available.

OFX International Money Transfers

Exclusive offer: Special exchange rates and $0 transfer fee
OFX is currently offering finder.com exclusive exchange rates and $0 transfer fee on all transfers.

World First Foreign Exchange

Exclusive offer: $0 transfer fee
Transfer money into a range of currencies online and over the phone.

Transferwise International Money Transfers

Make online transfers in a range of currencies and enjoy high maximum transfer amounts.

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