- Make your first three transfers for free using code AZ-FIND
- Send money to bank accounts, phones or cash pick-up locations
- Transfer to 195 countries in 60 different currencies
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.
Sign up and send money with a digital money transfer specialist in four steps:
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.
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 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.
Weigh costs and fees against convenience, and learn how to compare money transfer providers that send to Ukraine to meet your needs:
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.
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.
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.
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.
To send money from the UK to Ukraine, you’ll need documentation and details that include:
To pick up money in person, documentation can include:
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.
finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. While we are independent, the offers that appear on this site are from companies from which finder.com receives compensation. We may receive compensation from our partners for placement of their products or services. We may also receive compensation if you click on certain links posted on our site. While compensation arrangements may affect the order, position or placement of product information, it doesn't influence our assessment of those products. Please don't interpret the order in which products appear on our Site as any endorsement or recommendation from us. finder.com compares a wide range of products, providers and services but we don't provide information on all available products, providers or services. Please appreciate that there may be other options available to you than the products, providers or services covered by our service.