Sending Money To Belarus: What Are The Options?

Sending money to Belarus from the US can be done through specialist money transfer services, which often offer better BYN exchange rates and lower fees than American banks. One of the cheapest options is MoneyGram, which offers competitive exchange rates and transfers money to Belarus within minutes for a starting fee of $0. Western Union stopped its money transfer service to Belarus on March 24, 2022. Other options include Paysend, which charges a fee of €1.50 to transfer money to Visa or Mastercard cards in Belarus, and fin.do, which charges a fee of about 4%.

Sending money to Belarus from the US

One option for sending money to Belarus is Paysend. Paysend allows you to transfer money online directly to Visa or Mastercard cards in Belarus. The fee for using Paysend is €1.50, and the money is usually transferred on the same day. Paysend is available on the App Store, Google Play, or AppGallery, and it allows you to send money and track your transfers anytime, anywhere. Paysend also displays the currency exchange rate, transfer fee, and receivable amount before you make the transfer.

Another option to consider is Remitly. However, as of October 2024, they do not support sending money to Belarus due to international sanctions. They have stated that they will notify users via email if the service is restored.

When choosing a money transfer service, it is important to consider factors such as fees, transfer speed, ease of use, and the availability of customer support. It is also essential to be aware of any applicable international sanctions or restrictions that may impact your ability to send money to Belarus.

Additionally, keep in mind that the specific steps and requirements for sending money to Belarus may vary depending on the platform you choose. Be sure to review the instructions and requirements of the chosen platform carefully to ensure a smooth and successful transfer.

Using a specialist money transfer service

Money transfer specialists such as MoneyGram offer competitive exchange rates and low fees, and can deliver money to your recipient in Belarus within minutes.

Other options include Paysend, which charges a fee of €1.50 to send money to Visa or Mastercard cards in Belarus. The money is usually transferred on the same day.

When choosing a money transfer provider, it's important to consider the cost, how you want the recipient to receive the funds, and the turnaround time. Some providers may also offer discounts or promotions, so be sure to compare the options before choosing a service.

You will need to provide your name, address, contact details, proof of ID, and payment method. For the recipient, you will need their name, contact information, and, if sending to their bank account, their account number, SWIFT or IBAN, and bank branch address.

It's also worth noting that some apps and websites, such as Wise or Paysend, do not allow transfers from the US to Belarus.

Bank transfers

If you're sending money from the US, it's best not to go straight to your American bank. Instead, compare specialist money transfer services, which usually offer better BYN exchange rates and lower fees.

Wise, for example, offers a low fee of $46.26, 0% markup on BYN exchange rates, and fast transfer speeds.

If you're transferring large amounts of money, consider using a provider such as Wise to benefit from its expertise in handling larger sums. Using a large transfer specialist can offer tax guidance and advanced foreign exchange tools.

To send money to Belarus, you'll need the necessary documentation, your recipient's details, and a way to pay. Compare your options and provide your name, address, contact details, proof of ID, and payment method. Then, enter your recipient's name, contact information, and bank account details. Double-check the fees, exchange rates, and transfer speed, then complete your transfer. Keep your transaction reference number, as your recipient may need it.

When choosing a money transfer provider, consider the cost, how you want your recipient to receive the funds, and the turnaround time. Review the exchange rates, transfer fees, transfer type, transfer speed, transfer limits, and discounts.

While bank transfers are typically the cheapest way to send money to Belarus, they are not the fastest. Online money transfer providers can often offer transfers within minutes, although you'll likely pay a premium for the convenience. Bank transfers usually take 2-5 days.

Cash pickup

If you need to get money to someone in Belarus quickly, cash pickup is a good option. This gives your recipient instant access to the money you've sent when they collect it from their agent location.

Remitly

Remitly is the provider most often deemed to be the cheapest for cash pickups in Belarus. It offers low fees and fast transfer speeds.

Ria Money Transfer

Ria Money Transfer offers fast and affordable cash pickups. Fees are around $4 for bank deposits and $Wise for debit card deposits, plus a small 2.8% markup on top of the Belarussian Ruble rate.

MoneyGram

MoneyGram is another option for cash pickups. It can get money to your recipient in Belarus within minutes. Fees start from $0.

Western Union

Western Union stopped its money transfer service in Belarus on 24 March 2022. However, money transfers sent to Belarus before this date can be refunded.

Fin.do

Fin.do provides money transfer services between different cards in different countries, including Belarus. It takes a fee of around 4%.

Crypto

Crypto is another option for sending money to Belarus. However, amounts over 7500 BYN may be taxed.

Mobile wallet

To use a mobile wallet to send money to Belarus, you will need to follow these general steps:

• Select any mobile wallet service and download its mobile app. Some of the most popular P2P payment services include PayPal, Apple Pay, Venmo, Cash App, Google Pay, Square Cash, and Zelle.
• Sign up for a personal account in the app and link it to your bank account, credit or debit card.
• Do all the actions required by the mobile wallet app for security purposes, such as entering a password or providing private information.
• Enter the recipient's details, such as their name, phone number, and email address.
• Enter the amount you want to transfer. You might also be prompted to enter the reason for the transfer.
• Confirm the payment by following the required steps in the app.

It is important to note that some mobile wallet services may charge fees for sending funds, and there might be restrictions on the amount of money you can send or receive. Additionally, it is usually not possible to cancel a payment and get a refund if you make a mistake.

When choosing a mobile wallet service, it is essential to review the main characteristics, terms, and conditions offered by each provider. You should also consider factors such as security, speed of transactions, ease of use, exchange rates, and fees charged by the service.

Some mobile wallet services that you can use to send money to Belarus include Paysend, Remitly, and Remitout. These services offer low fees, fast transfers, and competitive exchange rates.

Frequently asked questions