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About Unistream
Unistream offer money transfers across Russia and other CIS countries, including Armenia, Kazakhstan, Moldova, Uzbekistan, Kyrgyzstan, Tajikistan, Belarus, Bulgaria, Vietnam, Germany, Greece, Georgia, Israel, Italy, Cyprus, and Mongolia. They boast over 150,000 cash withdrawal points worldwide.
So, let’s go ahead and look at exactly what Unistream offers its customers, starting with their rates.
Unistream Exchange Rates and Fees
Unistream makes its profits in two different ways. Firstly, by selling currency at over the rate they purchase it at, and then through charging transfer fees on transactions.
Exchange Rate
Let’s look at the example of sending money from Russia to Greece. As of 14th July 2022, the interbank rate is currently 1 Ruble (₽) to 0.0164 Euros. This means that if you wanted to send a recipient in Greece EUR 500 it would cost you RUB 29,222.68. If you used Unistream to send the remittance you would end up paying RUB 31,252.95. This is a margin of 6.49% above the interbank rate. On average, most online currency exchange companies charge margins of between 1-3% so Unistream is on the more expensive end of the scale. However, it is worth noting that Unistream does not charge transfer fees on this transaction, which brings the price more in line with its competitors.
Transfer Fees
For some transfers, you will be charged a transparent transfer fee. This seems to only be the case for RUB transactions. That makes sense because without converting foreign currencies into Russian Rubles, they would not make a profit on the transaction.
The exact fees depend on both the country that you’re transferring to and the amount of money being sent, with Russia, Moldova and Mongolia all allowing transactions in rubles. Generally, the smaller transactions incur fees of RUB 50 with this rising in increments right up to RUB 1900 for the largest possible transaction of RUB 200,000.
Additional Costs
There are no additional costs for sending money.
Top Destinations for Sending Money With Unistream
Unistream was founded in Moscow in 2006 and mainly serves customers sending money to and from Russia and the Commonwealth of Independent States. Unistream is particularly geared towards customers making remittances in rubles due to their low transfer fees.
With low transfer fees and payments all made and sent in rubles, Unistream is a great option for customers living or working in Russia.
83% of all remittances in the Kyrgyz Republic come from Russia and the mountainous country is highly dependent on Russian outflows.
In 2021, 55% of remittances in Uzbekistan came from Russia. This equates to 11.6% of their GDP.
How Do Unistream Transfer Fees Compare to Using a Money Transfer Provider?
This really depends on which country you’re sending money to. International transfers sent with RUB are extremely affordable, as you’ll only be charged a flat RUB fee, and you’ll be charged in RUB. That means that your currency exchange fees will be charged by the bank you use to pay for the transfer. Bank currency exchange rates normally range from 1.5% to 2.5%, which are below the rates Unistream charges.
The total costs of Unistream make one thing clear: They offer great rates if you’re sending money from Russia in Russian Rubles. Their flat fees to countries where you can send RUB are quite low. You also don’t pay any currency conversion fees. This keeps the cost far lower than what many other money transfer providers cost.
In the end, you end up paying lower-than-average rates with Unistream. But you have to consider their high exchange rates. If Unistream has to exchange currencies for you, they will charge you a high margin.
Unistream Pros and Cons
- Transparent exchange rates are easy to compare. You can find out how much Unistream charges from their website’s home page. You don’t need to create an account. This makes it very easy to compare their rates to other providers. They also list their transfer fees on the same interface.
- The company offers low costs for Russian Ruble transfers. If you just want to make domestic transfers within Russia, you only pay one fee. This fee is not large, but it can work out expensive if you send small transfers. RUB transfers from Russia to nearby countries are the cheapest option, and even the most expensive fee costs less than 1% of the total transaction. This is an extremely low cost for international transfers.
- Wide global network for transfers. You can send money to over 150,000 locations in 90 countries.
- High exchange rate margins. Exact exchange rates vary widely from currency to currency. This means that their exchange rates alone can make their transfers cost a lot. The total amount taken in their exchange rate margins is equal to average to far-above-average costs.
- Limited currency options. All transactions are paid for and sent in RUB. Then, the recipient can usually only receive a select few currencies. This is fine for many transfers from Russia to CIS countries. But if you want to send money to Vietnam from anywhere outside Russia, you will need to have your funds converted into RUB, then the recipient must convert either USD or EUR into Vietnamese Dong.
How to Send and Receive Money With Unistream
Unistream allows users in up to 90 different countries to make instant money transfers to 15 key destinations worldwide. These destinations are largely in countries served by the ruble and with 150,000 cash pick-up destinations worldwide, Unistream is a key player in the Russian and CIS markets. Our simple key steps should help to make sending and receiving money even more straightforward.
How to Send Money Through the Unistream Website
English speaking countries can translate the Unistream website by selecting the UK flag in the top right-hand corner. The website is easy to navigate and sending money to your beneficiary should take less than ten minutes.
Select the Country, the Transfer Amount and the Currency
Fill Out the Key Details of the Beneficiary
Review and Confirm
Track Your Transaction
Does Unistream Have an App?
Unistream has its own app. You can download it from Google Play, the App Store, or App Gallery. Links to all three can be found on the Unistream home page.
How to Send Money Through the Unistream Mobile App
Whilst users in the United Kingdom are currently not supported on the mobile phone app, customers in the United States, Canada and Australia can use the app to transfer money on the go. The mobile app works in an identical way to the website and users can make payments in less than ten minutes.
Select the Country, the Transfer Amount and the Currency
Fill Out the Key Details of the Beneficiary
Review and Confirm
Track Your Transaction
How to Send Money Through a Unistream Cash Location
Unistream cash locations are a great option for those who want to make their remittances in cash. There are over 150,000 locations worldwide and once you’ve arrived at your nearest Unistream point, the process should take around 15 minutes.
Visit the Unistream Website
Fill Out the Relevant Information
Pay
How to Receive Money From Unistream
Whilst Unistream supports payments from customers in the United Kingdom, Canada, the United States and Australia it doesn’t allow participants in these countries to receive remittances. Following the Russian invasion of Ukraine, many money transfer firms including Western Union, Wise, Remitly and Revolut have now suspended all operations in Russia. Customers from Russia wishing to make remittances can currently still use Xe.
Customer Service Details for Users of Unistream
Phone: +7 (495) 744 5555
Email Support Ticket: click here
Can I Use Unistream for International Bank Transfers?
Yes, Unistream can be used for international bank transfers.
Summary
Unistream has won awards for its money transfer services. Indeed, if you’re trying to send money in Russian Rubles, it’s a very cheap and fairly fast option. But you can send money to a long list of countries as well. However, it’s a more competitive choice if you only look at it as an option for RUB transactions.
Unistream offers bad exchange rates for most currency conversions. But if you are fine with that, and primarily send RUB, it’s worth your consideration.
