Send money to Ukraine
Safely send hryvnias to friends and family.
Updated . What changed?
Need to send money to Ukraine from the UK? Transferring money online instead of through your local bank will save you on fees and give you access to stronger exchange rates and faster turnaround times.
Compare services that send money to Ukraine from the UK
What's in this guide?
- Compare services that send money to Ukraine from the UK
- How to send money to Ukraine online
- What's the best way to send money to Ukraine?
- How to get the most out of your money transfer to Ukraine
- Ukraine's exchange rates explained
- Documents needed for money transfers to Ukraine
- What to watch out for
- Bottom line
How to send money to Ukraine online
Sign up and send money with a digital money transfer specialist in four steps:
- Sign up for a free account. Pick a provider and sign up for a free online account using your contact information, proof of ID and your preferred payment method.
- Provide transfer details. Submit your recipient’s contact information and pick a delivery method. If you’re transferring to a bank, you’ll need your recipient’s Ukrainian bank account details.
- Confirm transfer details. Double-check your payment method, expected fees and destination.
- Save your receipt. Record your receipt’s confirmation number to track the progress of your transfer to Ukraine. Some money transfer providers send a text or email when your transfer is complete.
What’s the best way to send money to Ukraine?
Online money transfer providers typically offer the strongest exchange rates and lowest fees on money transfers to Ukraine. Some offer transfers straight to Ukrainian bank accounts, while others allow the money to be picked up in Ukrainian hryvnia in person. Banks, PayPal and other options are available but come with high fees, weak rates and longer turnaround times.
Digital money transfer services
Companies like OFX and CurrencyTransfer specialise in foreign currencies, making them some of the most cost-effective transfers. Most offer transfers directly to your recipient’s Ukrainian bank account, often in as little as a day or two.
Services like MoneyGram allow you to transfer cash for pickup at a local branch in Ukraine – often in 15 minutes. While it’s a fast way to send money, you’ll pay for the convenience in weak exchange rates and high fees. If a cash pickup is necessary, look to digital services like WorldRemit or XE when possible.
Ukrainian hryvnia probably isn’t carried by your local bank. Even if your local bank can convert your pound sterling into Ukrainian hryvnia, beware of high fees and wide margins on the exchange rate compared to digital and other options.
Let’s crunch the numbers: Sending £1,000 to Ukraine
Let’s say you need to send £1,000 to a friend in Ukraine. Here’s what you might face as far as fees and exchange rates as of 30 April 2020.
|Digital money transfer||Cash transfer||Bank transfer|
|Fee||£2||£3.99||£20 + additional correspondent bank fees|
|Exchange rate||1 GBP = 33.72 UAH||1 GBP = 32.40 UAH||1 GBP = 31.74 UAH|
|Transfer speed||1-2 days||Minutes||2-5 days|
|Amount received||UAH 33,656||UAH 32,405||UAH 31,743|
The bank option ends up being both the slowest and gets the smallest amount of money to your recipient. If you go with the online transfer service, your recipient ends up with UAH 1,913 more than the bank offers. But if you’re in a rush, the cash transfer should have your transfer to Ukraine in as little as 15 minutes.
How to get the most out of your money transfer to Ukraine
Weigh costs and fees against convenience, and learn how to compare money transfer providers that send to Ukraine to meet your needs:
- Exchange rates. The GBP-UAH relationship fluctuates daily, so using a service that allows you to lock-in exchange prices may help you save money down the line if exchange rates take a turn for the worse in the future.
- Transfer fees. Transferring money overseas nearly always requires fees, but they might be hidden in the exchange rate. When sending large amounts, it may be cheaper to pay a flat fee to secure a stronger exchange rate.
- Transfer limits. How much you can send varies by company, and different amounts can attract higher or lower fees. Shop around for the best deal on the number of Ukrainian hryvnia you’re sending.
- Turnaround. Transferring money through a local bank can take a business week or longer. If you need the funds delivered quickly, seek out a digital specialist that offers instant transfers to Ukraine.
- Maximum limits. When exchange rates are favourable, sending more money can save you money in the future. If you plan to send large amounts of money to Ukraine, be sure to pick a provider that won’t limit you.
- Transfer methods. Whether you want money sent to a Ukrainian bank account or picked up as cash at a local agent, narrow down a company that matches your preferred delivery method.
Emergency cash transfer to Ukraine
When it’s more important to get your money to Ukraine quickly, look for money transfer companies that support cash pickup in minutes.
You can pay with a credit or debit card for fast pickup, but fees are higher than other methods.
How to send money to Ukraine without a bank account
If you don’t have a bank account, you can still use cash transfer services to get the money to its destination. Similarly, a recipient can get the money with a cash transfer if they don’t have a bank account.
These cash transfer services are widely available around the world and although they’ll typically not be the cheapest available service they can be fast, convenient and can be used without bank accounts.
Ukraine’s exchange rates explained
The exchange rate determines how much one country’s currency is worth in another country’s currency. When a country’s currency is strong, it yields more money when exchanging it in a country with a weaker currency. Ukraine’s exchange rate often fluctuates when compared to the pound sterling, so expect exchange rates today to be different than those you’ll see tomorrow. Factors that influence the exchange rate include interest rates, economic stability and inflation.
Track how the Ukrainian hryvnia trades against the pound sterling in our historical rate chart.
Documents needed for money transfers to Ukraine
To send money to Ukraine from the UK, you’ll need government-issued ID and other documents, while documents needed to pick up money in Ukraine may be different by company.
Documents to send money from the UK
To send money from the UK to Ukraine, you’ll need documentation and details that include:
- Identification. Most services require a driver’s licence, passport or other government-issued ID.
- Payment method. Your service may accept credit or debit cards, cash, bank accounts or personal checks.
- Recipient information. Submit your recipient’s name as it appears on their ID, along with their phone number, Ukrainian bank account and routing number if sending to their bank.
Documents to receive money in Ukraine
To pick up money in person, documentation can include:
- Transfer number. The person sending you money can forward the transfer’s confirmation details – called a PIN, a MTCN, a reference number or a tracking number, depending on the company.
- Government-issued ID. A Ukrainian passport, Ukrainian driver’s licence or a similar government-issued ID is typically required to pick up cash.
- Amount sent. You may need to know how much was sent, usually within 10% of the total.
- Sender’s information. Take along your sender’s full name, the sending country and their address, if known.
What to watch out for
Most money transfers between the UK and Ukraine shouldn’t have any specific tax obligations attached to them, so long as they are for personal use and kept under £10,000.
Sending your hard-earned money to Ukraine shouldn’t cost a fortune. Compare transfer companies that specialise in foreign for the strongest rates, lowest fees and flexible delivery. For transfers to other countries, rely on our country specific guides the next time you need to make a transfer.
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