While there are fewer options than normal for sending money to Ukraine, the options available to you are quite diverse and unique. Many of the companies that are available in many other countries are either absent or offering completely different deals in Ukraine. That being said, several other companies are offering great options.
The currency exchange situation for the Ukrainian Hryvnia is fairly stable now but has been unpredictable in recent years, during which time serious fluctuations in currency exchange rates have occurred. All things considered, Ukraine is not the easiest or most stress-free country for money transfers, but there are some great options available to you.
The current exchange rate for the Ukrainian Hryvnia (UAH) is 24.6205 per American Dollar (USD). The average exchange rate over the last 90 days was 25.4185 UAH per USD. The UAH reached a high of 26.2975 UAH per USD, and a low of 24.6205 UAH per USD during the last 90 days.
The average volatility rate of the UAH against the USD was 0.51% for the last 90 days. This is a moderate volatility rate; however, the currency exchange rates have gone through larger-than-average fluctuations during the last few years. Going forward, you can reasonably expect the exchange rate to fluctuate moderately, barring unforeseen circumstances. It should be noted that Ukraine has experienced many unforeseen events in the last few years, and they have affected the exchange rates.
The fastest way is through either Ria Money Transfer’s fast service or Western Union’s fast service. The former costs far less than the latter, but Western Union is more popular and easier to use. Regardless, both of these options will see to it that your money reaches its Ukrainian destination in a matter of minutes.
The cheapest way is to go with Ria Money Transfer’s slow option. While this isn’t always the case, Ria Money Transfer doesn’t carry any hidden currency conversion costs for either the slow or fast version. The upfront fee for Ria Money Transfer’s slow option is very low, and in the end, it is the cheapest option available to you.
The main drawback to Ria Money Transfer’s slow option is that it’s… wait for it…slow. You can expect to wait 3-5 days for your money to reach its Ukrainian destination.
The easiest way is using TransferWise. The peer-to-peer money transfer system makes it very easy to transfer money. All you need to do is tap the amount of money and the destination. After that, you need to pay TransferWise, and from that point, the money should get to its destination in a day or two.
It should be noted that the stated fees for using TransferWise to send funds to Ukraine are higher than they are for many other countries.
The overall best way to transfer money to Ukraine is through Ria Money Transfer’s fast option. While it isn’t the most convenient method, the balance between speed and cost is quite good. You pay more for Ria Money’s fast option than you do for their slow option but the difference in timing is under an hour versus 3-5 days. For these reasons, Ria Money Transfer’s fast option is the best choice for sending funds to Ukraine.