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Syria

If you have friends or relatives living in Syria, you might hope to send money to make their lives a little easier. Unfortunately, most countries have imposed sanctions on Syria for human rights abuses and terrorism. Those penalties have made it illegal to send money to Syria.

However, in the wake of the disastrous February 2023 earthquake, some nations have temporarily lifted sanctions to help Syrian citizens receive personal humanitarian aid.

While the money transfer providers that can send money to Syria are limited, MoneyTransfers.com can help you find one.

Sarah Edwards
Author 
Sarah Edwards
8 minutes
January 16th, 2024
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What Ways Can I Send and Receive Money in Syria?

You’ll be able to make a money transfer to or from Syria in the following ways.

Ways to Send Money to Syria

There are three main ways to send money to Syria:

Money transfer providers

This is the most convenient (and often least expensive) option. You can send money from any internet-connected device, 24/7. Fees are usually low, and because multiple providers compete with one another, rates are typically very affordable.

Bank wire transfers

Not all banks offer wire transfers, and the ones that do, may charge significant fees. The transfers themselves often take days, as they’re sent through the Society for Worldwide Interbank Financial Telecommunications (SWIFT) system, a global network of banks.

Over the course of the transfer, your money may move through several different financial institutions. Unfortunately, each one may charge an additional fee.

International money orders

This method is secure but takes some time. Most have very low limits for how much you can send, and they come with high fees. Once you’ve purchased an international money order, you send it through the mail.

You can sometimes integrate a digital wallet for convenience; however, this option will usually have extremely high fees.

Check out MoneyTransfers.com for great low-rate options.

Ways to Receive Money in Syria

Your recipient has three options for picking up the money you send:

  • Bank deposit: If the money is deposited into the recipient’s bank account, they won’t need to make a separate trip to the bank to get it (although it may take one to two days to process)

  • Cash pickup: With this method, you send money to an agent at a participating financial institution, and the recipient visits the agent to pick up cash

  • Digital wallet: If your recipient sets up a digital wallet and integrates PayPal or similar accounts, they can receive funds as well

Before sending money, ensure you trust your intended recipient and the two of you have agreed upon a method.

Currency Exchange Rates for Syria

The Syrian Pound (SYP) is the currency used within Syria. According to XE, the most popular Syria Pound exchange rate is the USD to SYP rate. However, use or possession of any currency other than the Syrian Pound is illegal, and penalties will be imposed by regime authorities. Due to the severity of Syria’s economic crisis, the value of the Syrian Pound has dramatically decreased, while prices have rapidly increased.

Further Information

Residents of the UK: For more information, please visit the website of the Office of Financial Sanctions Implementation, HM Treasury and UK sanctions on Syria.

Members of the EU: Information about the EU Restrictive Measures in Syria can be found on the European Commission website

Citizens of the US: To find out what Syrian sanctions are implemented by the US Department of the Treasury, visit the official website.

How can I pay for my money transfer to Syria?

Fortunately, you can use several payment methods to send money to Syria:

  • Bank account: The easiest way is to have the payment drafted right from your bank account

  • Credit card: You can pay with a credit card, though some providers may charge you a cash advance fee and a currency conversion fee, and interest rates may cost you more over time

  • Debit card: Debit cards won’t charge interest, but providers may still charge you a cash advance and/or currency conversion fee

  • Digital wallet: You can connect many money transfer apps to your Apple Wallet or Google Wallet to make paying easier

Sending money overseas often involves more fees than most people think, so take the time to investigate and compare possible charges before choosing a payment method. You’ll always get the best rates when you use MoneyTransfers.com.

What is the best way to send money to Syria?

By far, the easiest and most efficient way to send money to Syria is through a money transfer provider. Paying with your bank account can also streamline the process and help you avoid excessive fees.

When you use a money transfer provider, you can avoid both the fees with debit and credit cards and the delays that come with SWIFT network transactions.

How long does it take to send money to Syria?

A few different factors can influence the time it takes for a transfer to clear:

  • The provider you go with: Some can send money in a few hours, while others may take a day or two

  • The amount you’re sending: Larger transfers will usually take more time to clear, and extra security checks can sometimes delay them

  • When you initiate the transfer: If your transfer starts after a bank’s cut-off time, it probably won’t be processed until the following day

MoneyTransfers.com will give you an estimate of how long a given transfer will take. If time is of the essence, you can select the fastest option easily.

What is the fastest way to send money to Syria?

In almost every case, the fastest way to send money to Syria is via a money transfer app. These apps operate outside the often-sluggish SWIFT network of banks.

Notably, paying with a credit or debit card may be faster than paying by bank transfer, but these methods usually come with higher fees. If you send your transfer as a cash pickup, your recipient will likely be able to get it even more quickly.

How much does it cost to send money to Syria?

You may be charged a transfer fee when you send money to Syria. Some providers will charge a flat fee, while others will charge a percentage of your total transfer, and some charge no fees at all. If you want to know exactly how much a given transfer will cost you, look closely at each provider’s exchange rate.

At MoneyTransfers.com, we show you each provider’s exchange rate. We’ll also show you exactly how much money your recipient will get after deducting fees and exchange-rate costs.

What is the cheapest way to send money to Syria?

In almost every case, the cheapest way to send money to Syria is using a money transfer provider (like Western Union) and paying with a bank draft. Credit and debit cards might be faster, but card providers could charge currency conversion and cash advance fees.

You can see all fees before you pay when you use MoneyTransfers.com.

What do I need to send money to Syria?

To send money to Syria, you’ll need several pieces of information, including:

  • Your personal info: This usually includes your name, address, phone number, and email address, as well as a copy of a valid photo ID

  • Your recipient’s information: You’ll need the recipient’s name, address, contact info, and bank account details, as well as the bank’s SWIFT code and possibly the international bank account number (IBAN)

  • Your payment information: This is usually your bank account information or a credit or debit card

If you can’t find a bank’s SWIFT code, you can typically look it up on the institution’s website. You can also ask the recipient to check their account.

What do I need to receive money in Syria?

Your recipient will need a valid photo ID to prove their identity and accept a money transfer that hasn’t been deposited directly into their bank account. Remember that there may be additional requirements depending on where the recipient picks up the money.

Do I pay tax on money transfers to Syria?

You won’t ordinarily have to pay taxes if you send money to Syria or another foreign country. However, you might if the amount you send exceeds your country’s gift allowance.

For example, in the USA, you can give someone a gift of up to $17,000 (or $34,000 if you’re married and file your taxes jointly). You’ll have to pay a gift tax if you exceed that amount. Ensure you fully understand your country’s tax implications before sending money to Syria.

If you’re looking for more details, MoneyTransfers.com includes articles and other information related to taxes and sending money internationally.

What reasons do people send money to Syria?

Many countries have partially lifted the sanctions they imposed on Syria following the recent earthquake.

For example, American citizens can send personal remittances to Syrian citizens needing aid. Recipients can use that aid to cover the cost of housing, food, medical care, and other necessities.

Note that it’s illegal to send money to Syria for commercial purposes.

If you hope to send money to loved ones in need quickly, MoneyTransfers.com can help you pick the provider with the fastest processing time.

Sending money to major banks in Syria

Syria is home to one major bank, the Central Bank of Syria. There are several local banks, but transfer providers usually route funds to major banks when sending money internationally.

What apps can I use to send money to Syria?

Although some countries have temporarily suspended Syria’s economic sanctions, many money transfer providers still won’t send money to Syria. Currently, you can use Western Union, and if you’re sending money from the UK and the recipient picks it up in USD, you can use Atlantic Money.

You can read about these and other money transfer providers at MoneyTransfers.com.

Useful links for Syrians abroad

If you’re a Syrian expat, you might find some of these links useful:

Sending different amounts of money to Syria

Very few money transfer providers will send money to Syria. The ones that will don’t charge a fee; however, both have an exchange rate of 3% higher than the mid-market rate at the time of writing.

The method you use to send money will likely vary based on how much you send. Here are some general guidelines.

Sending under $1,000 to Syria

These transfers are relatively uncomplicated; even a percentage fee won’t be exorbitant. If you’re sending $700 or less, you also may be able to send an international money order.

Sending $1,000 or more to Syria

Different providers have different transaction limits, so if you’re sending more than $1,000, check to ensure you can still send your chosen amount.

Sending $10,000 or more to Syria

Thanks to exchange rates (and sometimes percentage fees), sending this much to Syria can quickly get expensive. Most people turn to specialist providers for transfers this large. However, because so few providers send money to Syria, that may not be possible.

Sending $100,000 or more to Syria

This amount will likely exceed most money transfer providers’ transaction limits, so breaking it into several smaller transactions may be necessary. Even so, with a sum this large, fees and exchange rate costs will still probably cost thousands of dollars.

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Contributors

Sarah Edwards
Sarah is a proficient Content Writer who specialises in the financial sector. Her expertise lies in delivering clear, informative articles that help readers navigate the complex world of financial transactions and currency exchanges.