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Traveling to Russia and beyond

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  • 1. Visa
    • 1.1. Visa to Russia
      • How to obtain a Russian Visa in an easy and cost-effective way in 2018
      • Is it possible to travel to Russia without a visa?
      • Flight Stopover in Moscow: What to See and How to Obtain a Transit Visa
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    • 1.2. Registration and immigration
      • Registration in Russia: What it is and how it is done
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    • 1.3. Visa to China and post-Soviet states
      • How to travel to Belarus without a visa (visa-free) and with visa
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  • 2. Transport
    • 2.1. Arriving by plane
      • How to go from the airport to the center of Moscow or the Red Square
      • How to find the cheapest flights to Moscow and St. Petersburg
      • How to go from Pulkovo Airport to St. Petersburg
      • Russian airports: immigration card and customs formalities
    • 2.2. Russian trains
      • Traveling between Moscow and St. Petersburg: Which is the best way?
      • Trains in Russia: How to buy tickets on-line without the middle-man
      • Train stations in Russia: luggage storage, Wi-Fi and other services
    • 2.3. Metro, bus and taxi
      • How to use the Moscow Metro and what stations to visit
      • How to catch a taxi in Moscow, Saint Petersburg, or in other Russian cities
      • Moscow’s Troika Card: paying all public transport costs with a card
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    • 2.4. Car rental
      • Is it worth to rent a car in Russia? Recommendations and requirements
  • 3. Sleep and eat
    • 3.1. Accommodation in Russia
      • Accommodations in Russia: How to choose and where to make a reservation cheaply
      • Ostrovok: the best alternative to Booking.com
    • 3.2. Restaurants in Russia
      • Where to eat in Moscow: from Teremok to Café Pushkin
      • How to book a restaurant in Moscow, St. Petersburg or other Russian cities
  • 4. Destinations
    • 4.1. Moscow
      • What is the Kremlin and how to buy tickets online
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      • Russia Travel itineraries: Big capitals, the Trans-Siberian Route and the Golden Ring
      • Places to enjoy the best views of Moscow
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      • Moscow in Space: from the Museum of Cosmonautics to the Planetarium
      • What is a Russian banya and why you should visit it
      • The Seven Sisters of Stalin of Moscow (and their secrets)
      • The Cathedral of Christ the Saviour of Moscow: you will not believe its story
      • What to see in Red Square in Moscow (and best things to do)
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      • The Hermitage of St. Petersburg: What to see and how to avoid queues
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      • Russia Travel itineraries: Big capitals, the Trans-Siberian Route and the Golden Ring
      • St. Petersburg’s Public transport: the Podorozhnik card
      • How to buy tickets for the Russian circus in Moscow and St. Petersburg
      • Russian Folklore Shows in Moscow and St. Petersburg
      • The Church of the Savior in St. Petersburg: How to buy tickets and schedules
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    • 4.4. The Golden Ring of Russia
      • The Golden Ring of Russia: from Sergiyev Posad to Suzdal
    • 4.5. Veliky Novgorod
      • Trip to Veliky Novgorod: the birthplace of Russia
    • 4.6. Kazan
      • The Kazan Kremlin: it will captivate you
  • 5. Practicalities
    • 5.1. Ruble exchange and prices
      • How to send money to Russia: WesterUnion, PayPal or TransferWise?
      • Is Russia an expensive or cheap country to travel? Tips to reduce expenses
      • Where is it better to change dollars for rubles?
      • How to request a VAT refund in Russia (Tax Free)
    • 5.2. Weather, health and safety
      • Is Russia a safe country for tourists? Travel tips
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      • Which souvenirs to buy in Russia? From Matrioskas to Cheburashka
      • 15 maps that will give you a better insight of Russia
You are here: Home / 5. Practicalities / 5.1. Ruble exchange and prices / How to send money to Russia: WesterUnion, PayPal or TransferWise?

How to send money to Russia: WesterUnion, PayPal or TransferWise?

Posted on: 02.14.17 | by Irena Domingo

In this article I tell you my experience sending money to Russia using different methods: bank transfer, Western Union, PayPal and TransferWise. You will see how the price differences between one method or another are very noticeable.
Invia denaro alla Russia

On several occasions I have had to send small amounts of money to relatives to Russia or Georgia. Sending money abroad always means paying commissions, and if you do it to countries of the former USSR (Russia, Ukraine, Georgia, Armenia, Azerbaijan, etc.) these commissions are even higher.

Let’s analyze what it costs today to send $300 to Russia, with the recipient receiving the money in rubles, by comparing 3 methods:

  • Traditional methods: such as WesternUnion or MoneyGram.
  • Online payment services: such as PayPal, WebMoney or Yandex Money.
  • P2P money transfer services: like TransferWise.

For comparative purposes, all calculations were made on February 14, 2017.

The first thing I have to say is that for small amounts of money, a bank wire transfer is the worst method, since the fees charged by the banks (from both the issuing bank and the receiving bank in Russia) are usually very high. For this reason, I have stopped using bank transfers for sending money to Russia for many years, since these are very expensive.

TABLE OF CONTENTS

  • 1. Traditional methods: WesternUnion or MoneyGram
  • 2. Online payment services: PayPal, WebMoney and Yandex Money
  • 3. P2P Money Transfer Services: TransferWise

1. Traditional methods: WesternUnion or MoneyGram

WesterUnion or MoneyGram are specialized companies in sending money abroad. They have an extensive network of offices, which I have used on different occasions, though they are now offering the money transfer service through their Internet website.

Well, sending $300 to Russia through Western Union has a high commission if you send it by bank transfer ($23) and very high if you do it by debit or credit card ($32), but it applies a favorable exchange rate (close to the real exchange rate). This means that if you send $300 to Russia today, you would be charged an exchange rate of 57.6589 rubles per dollar, so that the recipient in Russia will receive 17,297.70 rubles.

USA Send money now Western Union

2. Online payment services: PayPal, WebMoney and Yandex Money

PayPal is a payment method already known by virtually anyone, which allows you to buy in many websites, as well as transferring money between users by email. Other similar methods implemented in Russia are WebMoney and Yandex Money.

PayPal, contrary to what many people think, is not an economic method to send money to Russia (or to countries in which it implies a currency change), mainly due to two reasons:

  • Firstly, when it comes to international personal money transactions to Russia, the commission is not free, as PayPal charges a fee of 0.5% if it’s being sent from a bank account, and 3.9% if it’s sent from a credit card, whether debit or credit. In the case of commercial transactions, commissions are even higher. You can consult the commissions at this link.

Commissioni soldi invio di Russia - PayPal

  • Secondly, when you send dollars to a recipient in Russia, Paypal applies a rather unfavorable exchange rate. Today it applies an exchange rate of 55.5599 rubles per dollar.

USA dollars Send Money - PayPal

Thus, if you send $300 to a relative or friend of Russia, the commission would be $1.5 ($12 if you use your bank card), but your friend or Russian family member would receive in its Paypal account a total of 16,667.97 rubles. Also, keep in mind that if the recipient wants to transfer this money to its Russian bank account, it would have to wait a couple of days to have the money available.

3. P2P Money Transfer Services: TransferWise

Recently, several financial peer to peer (P2P) online services have emerged, offering money transfers with low commissions and that apply the actual exchange rate of the moment. The most popular of all is TransferWise (from the creators of Skype).

For example, sending $300 to Russia today has a commission of 1.49% (4.47 USD) but the good thing about TransferWise is that it applies an exchange rate close to the real exchange rate (57.23350 rubles per dollar). As a result, the recipient in Russia receives 16,914.22 rubles (having discounted already the applied commission). In addition, note that TransferWise allows you to make the payment by card without additional costs:

USA Transfer Money Online Send Money Abroad with TransferWise

 

 

In summary:

Western Union:

  • You send $300 and the recipient in Russia receives 17,297.70 rubles.
  • In addition, you have to pay a commission ranging from $23 to $32.

PayPal:

  • You send $300, and the recipient in Russia receives 16,667.97 rubles.
  • In addition, you have to pay a commission that varies between $1.5 and $12.

TransferWise:

  • You send $300 and the recipient in Russia receives 16,914.22 rubles (with the commission of $4,47 already discounted of this amount in rubles).

Conclusion: Western Union applies a good exchange rate but high commissions; Paypal applies a bad exchange rate and acceptable commissions; and TransferWise applies a good exchange rate and low commissions.

 

All calculations were made on February 14, 2017.

 

Have you sent money to Russia or to countries of the former USSR? You can tell me your experience below.

 

 

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Categories: 5.1. Ruble exchange and prices

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Irena Domingo's avatar

Hello, my name is Irena. I was born in Russia in 1974 during the Soviet era. I worked as a Russian teacher and as a translator and interpreter for the past 15 years. One of my main hobbies is traveling. Therefore, through this blog I want to help those people who want to travel to Russia.

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Categories

  • 1. Visa
    • 1.1. Visa to Russia
    • 1.2. Registration and immigration
    • 1.3. Visa to China and post-Soviet states
  • 2. Transport
    • 2.1. Arriving by plane
    • 2.2. Russian trains
    • 2.3. Metro, bus and taxi
    • 2.4. Car rental
  • 3. Sleep and eat
    • 3.1. Accommodation in Russia
    • 3.2. Restaurants in Russia
  • 4. Destinations
    • 4.1. Moscow
    • 4.2. St Petersburg
    • 4.3. Trans-Siberian
    • 4.4. The Golden Ring of Russia
    • 4.5. Veliky Novgorod
    • 4.6. Kazan
  • 5. Practicalities
    • 5.1. Ruble exchange and prices
    • 5.2. Weather, health and safety
    • 5.3. Telephone and Internet
    • 5.4. Russian products

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