Find the Cheapest Way To Send Money to Ukraine in Real Time

Over the past three months, we compared 8 providers for transfers to Ukraine from a wide range of sending countries and found that on average Skrill was most often the cheapest provider (in 53.0% of the searches).

But Skrill might not be available in the country you're sending money from, and it might not be the cheapest for your transfer to Ukraine as the provider's pricing change depends from country to country and changes over time. This means it's always best to launch a live comparison to find the cheapest provider for your transfer.

The Cheapest Ways to Send Money to Ukraine

The cheapest way to send money to Ukraine is almost always to make an international bank transfer to a local bank account Ukrainian bank account from your bank account overseas via a specialist money transfer provider (which you can pay by debit card or local bank transfer).

Money transfer apps such as Profee, TransferGo, and Wise are good examples of such solutions; they offer reasonable exchange rates very close to the mid-market rate and apply transparent and low fees. These solutions will be much cheaper than making an international bank transfer to Ukrainian with your bank or using PayPal, which comes with higher costs and take a considerable margin on the exchange rate when converting your money into hryvnia.

Fortunately, there are dozens of excellent options out there. Run a search on Monito's real-time comparison engine to compare them all and find the best way to send money to Ukraine now:

Inward remittances have historically been an essential part of the Ukrainian economy. Even before the 2022 Russian invasion and the subsequent influx of foreign aid and donations and refugees sending money back home, there was already a sizeable diaspora of millions of people converting local currency into Ukrainian hryvnia on a very regular basis.

It's therefore natural that finding the best way to send money to Ukraine is an important question for many people. Fortunately, there are plenty of options on Monito for sending money back to Ukraine. Our website ranks, reviews, and compares over 90 specialist money transfer providers and banks for converting your money into hryvnia and sending it home. We know there are many options to transfer money to Ukraine, so we compare all of the most popular ones side-by-side so you can make an informed choice!

Ultimately, the best money transfer provider for you will depend on several areas like how much you want to send, which country you're sending from, the currency you are exchanging into hryvnia, and a few other factors. We consider all those details and more when recommending the best way to send money to Ukraine. This page will help you find the fastest and cheapest ways to send money home. For example, we can tell you the best providers for sending money to Ukraine from the USA or the UK.

Information Needed To Send to a Bank Account in Ukraine

The following pieces of information will be needed whenever you send money to a Ukrainian bank account from overseas:

• Recipient's name: The name of the holder of the receiving bank account in Ukraine.
• Recipient's address: For legal reasons, it's necessary to enter the postal address of the recipient (including street, city, and postal code).
• Recipient's bank: You will need to enter the bank's name, often by selecting the name in a list, e.g. PrivatBank or Oschadbank.
• IBAN: The 24-digit IBAN bank account number of the recipient.
• Reason: Some providers might ask why you're transferring to Ukraine.

There are more than 70 banks in Ukraine. Some money transfer providers can send money to any bank in Ukraine, while others will only allow you to send it to certain banks. In most cases, however, if the recipient's bank account is with one of the most used banks in Ukraine, it should work with any of the providers we recommend.

Best Ways To Send Money to Ukraine

There are several good options for currency exchange, depending on how the person you're sending money to wants to get access to their hryvnia.

Sending From Europe

If you're sending money to Ukraine from a European country, the Profee is very often the best deal. Profee only supports card-to-card payments, so if you want to transfer from or to a bank account in Ukraine, we recommend Wise instead.

Sending From The Americas & Asia

On the other hand, if your money transfer originates from the US, Canada, Asia, or pretty much any other country outside of Europe, Wise is by far and away the best money transfer app. The online platform is smart and speedy and offers some of the best exchange rates on the market.

How to Transfer Money to Ukraine

There are several ways to transfer money to Ukraine. You can use the following methods to get the job done:

1. Bank transfer: While bank transfers are not instantaneous like debit or credit cards are, they are often the cheapest way to send money to Ukraine. International money transfer services can offer this affordable service because they specialize in these transfers.
2. Debit card: Some international money transfer companies can process payments with your local debit card, convert the currency, and send your recipient Ukrainian hryvnia (UAH).
3. Credit card: These payments are processed like debit cards but are often more expensive. Like debit cards, they are also instantaneous transactions.
4. PISP: You can designate some international money transfer services as a Payment Initiation Service Provider (PISP). This means you allow them to withdraw money directly from your bank account, which is usually cheaper than charging your debit or credit card.
5. SWIFT: You can request your bank to use the SWIFT system, a global network of thousands of banks, to transfer your money abroad. Monito does not recommend SWIFT because your transfer will go through expensive middlemen banks before arriving at your destination.

To find the best money transfer app to suit your needs and preferences, regardless of your transfer and payment methods, run a search on Monito's real-time comparison engine below: