Compare the best ways to send money to Ukraine

Pay attention to UAH exchange rates, as it determines how much UAH your recipient will receive.

For instance, today’s average USD to UAH rate is 41.222 but the highest rate over the past 3 months was 41.5004 UAH/USD.

Your aim is to transfer when UAH reaches a higher value so waiting a few days could result in a better rate, hence more UAH received.

If you have to send money to Ukraine now, we recommend Revolut. It consistently provided the best UAH rates over the past six months.

How you fund your transfer affects the cost, speed, and the amount of Hryvnia the recipient will receive.

The cheapest way to fund your transfer to Ukraine is with a Bank transfer via Revolut, which is 0% cheaper than the next cheapest service.

Based on our six-month analysis of a $2,000 transfer from to Ukraine, here are the top options:

• Revolut (bank transfer): Costs $0 + 0.11% markup on top of the UAH mid-market rate.

• Wise (debit card): Costs $6.52 + 0% markup.

• Wise (credit card): Costs $17.02 + 0% markup.

Credit card are the most expensive funding method when sending money to Ukraine, so we recommend avoiding it to maximize the amount of UAH received.

Credit card transfers may result in cash advance fees and higher interest rates for transfers to Ukraine.

For instance, Wise charges $19.1 for credit card deposits, while Revolut charges $0 for bank transfers.

Avoid using the SWIFT network for transfers to Ukraine, as it's slower and more expensive. Instead, consider cheaper options like ACH or account balance for UAH transfers.

Money transfer companies often have minimum and maximum limits on how much UAH you can send to Ukraine.

The amount of UAH you send can impact the fees and exchange rate. Some services such as Wise may offer a better exchange rate for large UAH transfers.

There may also be government-imposed restrictions, commercial limitations, and other factors that may affect how much UAH you can send.

To ensure your money transfer to Ukraine goes smoothly, especially if sending large amounts of Hryvnia, use our comparison tool to find the service that best fits your needs.

The speed of sending Hryvnia to Ukraine depends on factors like the amount of UAH sent, the chosen deposit and withdrawal methods, and when you send UAH.

As a rule of thumb, faster transfers come with higher fees.

Let’s imagine you want to send 2,000 USD from the US to Ukraine, here are your options:

• For the fastest transfers, use Paysend - Out of 8 companies serving Ukraine, Paysend appeared 50 times in our searches as the fastest service in the past 6 months.

• For bank and card deposits, use Wise - Wise provides fast and affordable UAH transfers, with fees around $7.95 for bank account deposits and $7.64 for debit/prepaid card deposits, with a small 0% markup on the ‘real’ UAH exchange rate.

• For credit card transfers, use Wise - Wise charges $20.91 for credit card transfers to Ukraine with 0% markup. However, beware of potential cash advance fees and higher interest rates from your credit card company.

• For urgent transfers, use cash transfer services - If you need Hryvnia to be delivered urgently, services like Western Union, MoneyGram, or Ria Money will have it ready within minutes for collection in Ukraine.

Avoid using the SWIFT network for UAH transfers, as intermediary banks slow the process. Instead, opt for faster and more cost-effective alternatives discussed above.

There are four main ways you can send money to Ukraine:

1. Money transfer company - You can transfer money online using an FX broker (managed service) or a self-managed online company like Wise. Based on our 6-month analysis, Wise ranked as the top provider for transfers to Ukraine, appearing in 115 comparisons involving UAH.

2. Mobile apps and digital wallets - Many services that support transfers to Ukraine offer mobile apps, often giving transfer offers on UAH rates.

3. Cash transfers - You can send cash to Ukraine through services like Ria Money, MoneyGram, or Western Union. Cash transfers are typically instant, but the recipient must visit a local agent in Ukraine to collect the Hryvnia.

4. Wire transfers - While you can send money to Ukraine through your bank, we advise against it. Banks can charge up to $60 per transfer to Ukraine and add 5% - 6% to the UAH exchange rate. Instead, use bank transfer to deposit money to Wise and send UAH from there.

There are several ways to receive money in Ukraine, and choosing the right one will help the recipient get the most UAH. Mainly, these are:

• Deposit to bank account - For direct bank deposits in Ukraine, we recommend Revolut, which appeared in 53.1% of UAH searches as the cheapest option for bank transfers. UAH will arrive directly to the recipient's bank account in Ukraine.

• Deposit to digital or mobile wallet - UAH can be sent directly to digital wallets like PayPal, though this option often has more limitations and higher costs compared to services like Revolut. Recipients in Ukraine will need to transfer it to their account, which may incur more fees.

• Cash pickup or home delivery - If the recipient needs UAH urgently or doesn't have access to a bank account in Ukraine, cash pickup or door-to-door delivery is a good alternative. Be sure to check if these services are available in Ukraine. This will require the recipient to visit a nearby agent in Ukraine.

When making large UAH transfers or sending Hryvnia for cash pickup, the recipient may need the following:

• Government-Issued ID: This can be a non-expired and valid passport, driver’s license, or national ID of Ukraine.

• Sender’s Details: The sender's full name, address, and other personal information.

• Transfer Details: The amount being received in UAH.

• Transfer number: This is given to the sender at the time of transfer. They should give it to the receiver.

• SWIFT Code / IBAN: This may be required for bank transfers to Ukraine from some countries.

*The exact documents may vary depending on the transfer method and service used.

For bank accounts, debit cards, or wallet deposits, the recipient typically doesn’t need to do anything. Hryvnia will arrive without their involvement.

For larger transfers, companies may request additional documents like proof of funds and address verification in compliance with Anti-Money Laundering policies.

We recommend using Wise for sending large amounts of Hryvnia.

When sending money to Ukraine, there may be tax implications and government-imposed limits on Hryvnia transfers.

Some Hryvnia transfers may be subject to gift tax, commercial tax, and other types of taxes.

Even if no immediate taxes or limits apply, larger UAH transfers may need to be reported to tax authorities in Ukraine or your home country.

To be fully safe, we strongly recommend consulting with a tax professional in either Ukraine or your home country to ensure compliance with relevant regulations and tax laws.