How to Send Money to Ukraine Cheaply

Information verified correct on January 20th, 2017

ukraineFind an affordable international money transfer provider to help you send money to Ukraine from the United States.

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 Ukraine doesn’t have to be expensive. Compare the transfer fees and exchange rates of the many options available to you to get the most Ukrainian hryvnias for your dollar.

Rates last updated January 20th, 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
Rates are always
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
Go to site More
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
Rates are always
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
Rates are always
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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changing, click to check
your price today
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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
Rates are always
changing, click to check
your price today
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How do international money transfers work?

An international money transfer allows you to send money to a recipient overseas. Generally, a transfer involves you providing funds to a bank or an independent transfer provider, which then sends the money to your recipient in another country — in this case, Ukraine. This can be done in person, over the phone, through a mobile app or online. You can use cash, a credit or debit card, or transfer funds from your bank account, which will then either be deposited into your recipient’s bank account or mobile wallet, or made available as cash for them to pick up at a location in their country.

Banks versus money transfer companies

The Ukrainian hryvnia is quite a rare currency in global markets, so you might not be able to transfer it overseas through your bank. Instead, you may have to send U.S. dollars from your financial institution, which can then be converted into the local currency when they arrive at your recipient’s bank.

However, banks are well-known for charging high fees and providing poor exchange rates when they handle international money transfers, so it’s often a much better option to consider using a money transfer company. These companies usually provide much better exchange rates and much more affordable fees, while also allowing you to make your cash available for collection from an agent location.

It’s also worth pointing out that some companies will only allow you to send U.S. dollars or euros instead of Ukrainian hryvnias. These two currencies are easy to exchange in the Ukraine.

Case Study: Oleg Sends Money to Ukraine

Oleg may have been living in the U.S. for more than 10 years, but that doesn’t mean he’s forgotten his roots. Once every six months or so he sends a sum of $1,000 to his parents in Kiev. He’s used his bank to perform these transfers for the past decade, but he is slowly becoming aware that there are money transfer companies available that might offer a cheaper alternative. He compares two well-known money transfer providers to try to find the best deal.

Money transfer company 1Money transfer company 2
Exchange rate$1 USD = $26.683 UAH$1 USD = $29.59 UAH
Transfer fee$0$25
Transfer methodOnlineBank account deposit
Processing time1 day1-2 days
Amount received (in UAH)$26,683 UAH$29,565 UAH

As you can see, even though the first provider doesn’t charge a fee, because of its poorer exchange rate, Oleg will save money by going with the second provider.

How to compare transfer companies when transferring money to Ukraine

  • Exchange rates. The higher the exchange rate, the more money you’ll be able to send to your recipients. Just remember that companies with high exchange rates will sometimes also have higher fees.
  • Fees. Fees can vary substantially from one company to the next, so don’t forget to factor any fees into the equation when choosing a provider.
  • Transfer methods. Online, over the phone, via a mobile app or by visiting a branch — some companies offer multiple transfer methods while others will only offer one.
  • Transfer options. Can you place a forward contract to lock in an attractive exchange rate for a future transaction? Can you schedule regular transfers or place limit orders, which allow you to take advantage of changing market conditions by executing the money transfer when a certain exchange rate is met?
  • Turnaround time. Processing times can vary from 10 minutes to multiple working days, so your choice of company may be influenced by how quickly you need your funds to arrive to your recipient.
  • Minimum transfer amount. If you only need to transfer a minimal amount, keep an eye out for companies that impose high minimum transfer limits.
  • Pickup methods. Some companies will send the funds to your recipient’s bank account, while others will make them available for collection from agent locations across Ukraine.
  • Customer service. Check to see what customer support options will be available 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.

Options for sending money to Ukraine from America

  • Bank transfers. Many U.S. banks will allow you to transfer funds to a Ukrainian bank account.
  • Online money transfer providers. There are some online-based money transfer companies who can send funds to Ukraine. Just make sure to choose a trusted provider.
  • Money transfer companies with cash pickup options. MoneyGram, Western Union and Ria are three companies with cash pickup locations in Ukraine.
  • Checks. Ask your bank if you can obtain an international check to send overseas.
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Emergency cash transfers in Ukraine

If you need to send an urgent transfer to Ukraine, be wary of the fact that you’ll usually have to pay a little extra for the privilege. Make sure that you double-check the fee and exchange rate that apply to your transaction before you hand over the cash.

In most cases, the quickest way to send a money transfer to the Ukraine is to use a transfer company with a cash pickup option. Such companies can often make funds available for collection within 10 minutes, allowing you to send funds overseas as quickly as possible.

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Cash pickup locations

Western Union, MoneyGram and Ria all have several agent locations across Ukraine where your recipient can pick up the funds you send. Your recipient will need a transaction reference number and photo ID in order to access the money, while phoning ahead to confirm opening hours is also recommended.
Find a money transfer location near youBack to top

Tips for picking up cash in Ukraine

Whether you’re picking up cash in Kiev or Kansas, it always makes sense to take a few simple safety precautions, such as:

  • Keeping an eye on your surroundings at all times and avoiding any high-crime areas.
  • Avoiding displaying your cash to strangers.
  • Keeping your purse, wallet or bag safe and secure.
  • Taking a friend with you to deter thieves.
  • Taking the funds to your bank as soon as possible.
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How do I send money to Ukraine?

Depending on the transfer method you choose to send money to Ukraine, you may need to sign up for an account with your money transfer provider. In addition to your name and phone number, you may have to provide other details such as your date of birth, email address and residential address. A valid form of photo ID may also be requested. If you are not using cash for this transaction, you will need to provide your banking info in order to have funds drafted from your account.

After you’ve placed your transfer request, you will receive a reference number that you can use to track your transaction. This will allow you to ensure a safe, secure and quick money transfer from the U.S. to Ukraine.

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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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