Are you looking for ways to transfer money to Ukraine via a bank account number or international money transfer companies? You are not alone. Many people are unsure whether it is even possible to send money to Ukraine due to the ongoing crisis, but you’ll be relieved to learn that you can do so and assist those in need.
Even though there are several ways to send money to Ukraine, not all of them are reliable and safe to try. Thus, we have developed an article to help you find the ones you can trust. This guide will let you find the cheapest and quickest ways to send money to Ukraine with a trusted provider.
Moreover, we will discuss the factors you should look out for when deciding on online money transfer services. Also, how can you avoid the transactional fees involved in these transfers? So, give this article a read to get answers to all your questions and send money safely.
Why Do People Transfer Money to Ukraine From the USA?
You may want to send money to Ukraine for many reasons, including family finances, paying for someone in need, a medical emergency, or trade-related stuff. Thus, whatever the case, this article will elaborate on what method you should choose and why. So, read below to find out.
What Are the Most Inexpensive Ways to Send Money to Ukraine?
The cheapest way to transfer money to Ukraine from the USA is via a bank deposit. However, opening a bank account while living abroad is not as easy as it seems, and thus, we have international money transfer services to aid the process.
Many platforms offer good exchange rates and have reasonable transfer fees that most people can afford. Some outstanding international money transfer services include Profee, TransferGo, Xoom, Wise, and WesternUnion. You might be familiar with a few of them, if not all.
No matter how reputable the company names are, that does not make them a safe choice. Moreover, they also involve complicated registration processes that take time for account approval. Thus, what companies should you opt for then? Let us compare each of them below and go through the process of a bank transfer:
Opening a Bank Account to Send Money to Ukraine
A bank account may be handy when transferring money abroad from the United States. However, most people are not much familiar with the process. So, if you decide to open a bank account for money transfers, below are a few steps that entail the whole procedure.
- Recipient’s name: When transferring money from the USA to Ukraine, you must know the person at the receiving end and their name to complete the transfer.
- Recipient’s address: Their address must be known for legal reasons. Most banks ask for a postal address, and this is usually mandatory.
- Recipient’s Bank Account Number (IBAN): When using a bank transfer method, you should provide the receiver’s bank account number. For our case, most banks will allow you to pick a bank name associated with the country, Ukraine. Then, you have to choose the available banks from a dropdown list to enter the account number.
- Reason: Next, you may be asked to mention the basis for making a transfer. Although this is usually optional, it may be required if you make a massive transfer.
Ways to Send Money Via Online Service Providers
If you are not comfortable creating a bank account or have no plan to do so in the future, there is another way. Transferring money from the USA to Ukraine can also be done through online providers like PayPal and Wise.
Cash pickup locations are a great alternative if you are comfortable with sending money via a bank account. Moreover, you may use a debit card to make a quick transaction whenever you want. We will be discussing a few methods below that can help you send money to Ukraine:
One way to send money is using the most used cash pickup locations in Ukraine. Although it falls under the bank transfers category, cash pickups come in handy when you do not want to get involved in many complications.
Another method is using a debit card. Most international money transfer companies allow you to create a Visa debit card for making money transfers; all you require is the recipient’s debit card number. It works similarly to bank transfers, but it is safe and easy.
Most banks have a method called SWIFT. You can request your bank to transfer money abroad via a global network. However, there are some intermediary banks involved during the process before your money reaches its destination.
How to Find the Most Suitable Way to Send Money From the USA?
To find the best way to transfer money to Ukraine, ask yourself a few questions keeping the recipient in mind. What will be the most suitable method for both of you? Do you value safety?
Are transfer fees a significant drawback for you? Also, how fast do you want to send money? The answers to these questions will help you think about a few things that can help you come to a conclusion. Moreover, we have also mentioned a few factors in the following section.
What Information Should You Know Before Sending Money to Ukraine?
Until now, we’ve been talking about how and where to send money to Ukraine with the lowest possible cost. We haven’t seen, though, what considerations you should make when settling on a strategy. In light of this, we have compiled a list of criteria that can be used to compare the various platforms and arrive at a decision.
Safety is an essential feature and always serves as the focal point in making decisions. We do not want to forget about our transactions but instead keep track of when and who made them. Thus, it is always a good practice to go for platforms or banks that support a check on their customer’s safety and privacy.
Transfer fees always come into play when you use an international money transfer service since no one provides services for free. Every platform earns profit no matter the percentage, but you can minimize it to some extent by choosing the right one. Thus, when deciding the method to send money to Ukraine, choose the platform with the most nominal transfer fees.
Mobile Phone Application
A mobile application can come in handy if you are looking to send money frequently to any country. Since you do not have to log in to the desktop application every time, it all happens from the ease of your couch. Therefore, choosing a platform with a mobile application can be the icing on the cake.
Wrapping It Up
Are you struggling to find the correct way to send money to Ukraine from the USA? Finding a reliable money transfer service among all the available options can be difficult, but for some countries, like Ukraine, we have a few viable alternatives. We’ve elaborated on delivering money to Ukraine bank accounts or an e-banking program.
Moreover, we have reviewed the best, most inexpensive, and fastest ways to transfer money. So, go through the article, sign up for the platform that suits you and send money to Ukraine safely.
Paul Martinez is the founder of EcomSidekick.com. He is an expert in the areas of finance, real estate, eCommerce, traffic and conversion.
Join him on EcomSidekick.com to learn how to improve your financial life and excel in these areas. Before starting this media site, Paul built from scratch and managed two multi-million dollar companies. One in the real estate sector and one in the eCommerce sector.