How to send money to Russia
Discover how to transfer money to Russia at the most competitive cost with these 4 steps
1. Check the RUB exchange rate against your sending currency
Although the evolution of the currency market is unpredictable, it is a good idea to follow it in order to maximize how much you will receive for your money. Follow the evolution of the Russian ruble mid-market and transfer your money when the exchange rate reaches your target level.
2. Select the best deal by comparing the available money transfer companies.
Monito's comparison engine lists 14 companies offering money transfer services to Russia, such as TransferGo, TransferWise, Western Union, MoneyGram, Currencies Direct. Get the most of your transfer by comparing them all and find the most competitive deal for your upcoming transfer.
3. Select the best service for your transfer
Which criteria is the most important for you? Total cost, speed, user ratings? Examine the different criteria before making your decision.
In addition, you may want to pay attention to the payment solution and pay-out options. You can often find money transfer companies allowing you to pay by bank transfer, some will also allow you to pay with your cards. At the other end, in Russia, you can decide if your want the money to be deposited on a local bank account or available for pick-up in cash at an agent location.
4. Sign up and get started wih your money transfer to Russia with the company you selected
The last step is to fill the sign-up form on the money transfer provider's website (you most of the time have to provide some ID documents to prove your identity), and configure your transfer.