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Digital money transfer providers can beat the rates offered by your bank. Transferring money online to Ukraine from the US, instead of through your local bank, will save you on fees and give you access to stronger exchange rates and faster turnaround times.
Send money to Ukraine with WorldRemit
Send money to 110+ countries for bank deposit, instant e-wallet, mobile top-up or cash pickup at 30,000+ agent locations worldwide.
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 TorFX specialize 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, compare MoneyGram 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 US dollars 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 our northern neighbors. Here's what you might face as far as fees and exchange rates with two different money transfer services.
Money transfer service 1
Money transfer service 2
1 AUD = 12.674 UAH
1 AUD = 12.398 UAH
Faster but more expensive
Slower but cheaper
If you go with the slower money transfer service, your recipient ends up with UAH 127 more than the faster service offers on a transfer of AU$1,000.
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 AUD-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 favorable, 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
Cash transfer services can help you if you're unbanked or marginally banked. If you don't have a bank account, look for a local company that supports storefronts for cash payments. These services include agent locations in other countries that allow your recipient to pick up cash without a bank account.
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 Australian dollar, 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 dollar trades against the Australian dollar in our historical rate chart.
Documents needed for sending to and receiving money in Ukraine
To send money to Ukraine from Australia, 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 Australia
To send money from the US to Ukraine, you'll need documentation and details that include:
Identification. Most services require a driver's license, 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 License 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.
Sending your hard-earned money to Ukraine shouldn't cost a fortune. Compare transfer companies that specialize 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.
Shirley Liu is Finder's global program manager. She was previously the publisher for banking and investments and has also written comparisons for energy, money transfers, Uber Eats and many other topics. Shirley has a Master of Commerce and a Bachelor of Media, Journalism and Communications from the University of New South Wales. She is passionate about helping people find the best deal for their needs.
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