Lyla Lindsey
There are several ways to send money from Australia to Ukraine. You can use a bank transfer, a card, PayID, or a money transfer service such as Wise, Western Union, Paysend, Remitly, or OFX. The cost of transferring money from Australia to Ukraine varies depending on the method used and the amount being transferred. Bank transfers are generally considered to be safe and convenient, but they can be slow. Money transfer services offer a fast and affordable alternative, with some services allowing you to transfer money in seconds.
| Characteristics | Values |
|---|---|
| Companies | Western Union, OFX (formerly Ozforex), Wise |
| Transfer Fee | OFX: flat fee for smaller amounts |
| Exchange Rate | OFX: adds a margin to the exchange rate when converting AUD to Euros |
| Minimum Transfer Amount | OFX: AUD$250 |
| Average Total Cost | Western Union: 0.7% of the amount sent; Cheapest online services: 0.6%; Average total cost to send to a bank account: 2.4%; Wise: most often the cheapest for transfers to bank accounts in Ukraine |
| Transfer Methods | Online, via app, in-person |
| Payment Methods | Cash, bank-issued debit card, credit card |
| Transfer Time | Western Union: minutes; Bank transfer: minutes to one banking day |
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What You'll Learn
Using a money transfer service
Revolut
Revolut is a well-known money transfer service with over 40 million customers worldwide. It allows you to send money from Australia to Ukraine quickly and safely. To use Revolut, you need to download the app on your Android or iPhone, sign up, and top up your account via your card or bank account. When sending money, you will typically need to provide the recipient's full name, bank account number, and sort code. Revolut also allows you to track your transfer status and provides transparent information about rates and fees.
Wise
Wise (formerly known as TransferWise) is another popular money transfer service with over 12.8 million users. It offers a fast and secure way to send money from Australia to Ukraine. With Wise, you can pay in Australian dollars by bank transfer, card, PayID, or directly from your Wise account. The recipient does not need a Wise account to receive the money, but if they do, you can transfer funds to them in seconds. Wise provides transparency in fees and exchange rates, allowing you to see exactly how much your recipient will receive.
Western Union
Western Union is a trusted money transfer service that allows you to send money from Australia to Ukraine through their website, app, or agent locations. You can transfer funds to your recipient's bank account or choose a cash pickup option at a nearby agent location. Western Union offers real-time transfer tracking and provides a price estimator tool to calculate transfer fees and exchange rates.
Paysend
Paysend is a money transfer service that enables you to send funds online directly to Visa and Mastercard or to regular bank accounts in Ukraine. The Paysend fee starts at €1.50 for card-to-card transfers and AUD 2.00 for bank transfers, with same-day delivery for most transactions. You can use the Paysend app to track your transfers anytime, anywhere.
Remitly
Remitly is a fast and secure money transfer app that allows you to send money from Australia to Ukraine. It offers multi-level security to protect your data and provides a hassle-free experience. With Remitly, you can choose the currency, amount, delivery speed, and payment method.
OFX (formerly Ozforex)
OFX is a well-respected global company founded in Australia, offering money transfer services with a good track record for security. They typically charge a flat fee for smaller amounts and add a margin to the exchange rate when converting Australian dollars to other currencies.
When choosing a money transfer service, it is important to compare rates, fees, transfer speeds, security, and customer support options to find the best option for your specific needs.
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Bank transfers
When choosing a bank transfer service, it is important to consider the overall cost, which includes transfer fees and exchange rates. Transfer fees can be either a fixed amount or a percentage of the transferred sum. Some banks may offer a flat fee for smaller amounts, while others may charge a percentage of the total amount transferred. Additionally, banks make money by adding a margin to the mid-market AUD/UAH exchange rate. As a result, it is crucial to compare not only the fees but also the final amount that the recipient will receive in hryvnias.
To initiate a bank transfer, you will need to gather specific information about the recipient. This includes their bank branch name, account number, and full address. Additionally, you may be required to provide the purpose of the transfer and, in some cases, additional information about your source of funds and occupation, especially for larger amounts. It is always recommended to double-check the recipient's information to avoid any delays in the transfer process.
When sending money through a bank transfer, you can usually choose the currency and the amount you wish to send. Some banks may offer the option to lock in a specific UAH exchange rate through advanced tools like forward contracts, limit orders, or stop-loss orders. This can help protect against volatile exchange rates. Additionally, some money transfer providers may assign a personal account manager who can offer advice and facilitate transfers.
It is important to be cautious when transferring money internationally, as there may be tax implications for large transfers. Consulting a transfer specialist or seeking the latest advice from the Australian Taxation Office can help you understand any potential tax consequences. Additionally, using a secure internet connection when performing bank transfers can help safeguard your information and protect your funds.
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In-person transfers
If you're looking to transfer money from Australia to Ukraine in person, there are several options available to you. Here are the steps you can take and some providers you can consider:
Western Union
Western Union is a popular provider for international money transfers, including from Australia to Ukraine. They have a large network of agent locations in Ukraine, making it convenient for your recipient to pick up the cash.
To send money through Western Union, you can follow these steps:
- Find a Western Union agent location near you in Australia.
- Bring a valid government-issued ID or your phone number to the counter.
- Provide the receiver's bank and account details, as well as their full address.
- Use cash or a bank-issued debit card to pay for the transfer.
- Share the tracking number (MTCN) on your receipt with the receiver, so they can track their money.
Western Union offers quick and repeat payments, real-time transfer tracking, and custom exchange rate alerts. You can also use their price estimator to calculate the cost of sending money, including transfer fees and the current AUD to USD exchange rate.
MoneyGram
MoneyGram is another option for in-person money transfers to Ukraine. They have locations in Ukraine where the recipient can pick up the money in cash.
Wise
Wise (formerly known as TransferWise) is an online money transfer service that offers low fees for international transfers. However, be aware that some banks in Ukraine, such as Privatbank, may charge additional fees for incoming transfers.
Xoom
Xoom provides fast, secure, and affordable online money transfers to Ukraine. They offer cash pickup at various locations across Ukraine, including Oschadbank, Privatbank, and Ukrgasbank. You can pay using PayPal, a bank account, credit card, or debit card.
Ria Money Transfer
Ria Money Transfer has a network of locations across Ukraine, offering both cash pickup and bank deposit options. They provide an app and website for convenient transfers and real-time tracking of your transactions.
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Exchange rates
When transferring money from Australia to Ukraine, it is important to consider the different exchange rates offered by money transfer providers. The exchange rate can make a significant difference in the amount of money that is received in Ukraine. Some providers may offer a less favourable exchange rate, which can result in a lower amount of money being received. It is, therefore, beneficial to compare exchange rates and fees from leading banks and money transfer services to find the best option.
One popular provider for international money transfers is Wise, which offers the same market rate as seen on XE or Google without any hidden exchange rate markups. This means that you will get the best possible exchange rate with Wise, and there is no need to worry about margins. However, due to volatile exchange rates, Wise cannot guarantee this rate.
Another popular provider is Western Union, which offers a vast network of agent locations in Ukraine for cash pickups. The average cost of online money transfers from Australia to Ukraine with Western Union is 0.7% of the amount sent, while the cheapest online services average 0.6%. Western Union is often the cheapest option for money transfers to a cash pick-up location, with an average cost of 4.5% (including fees and exchange rate margins).
It is worth noting that some providers, like OFX, add a margin to the exchange rate when converting Australian dollars into Euros. This can result in a lower amount of money being received in Ukraine.
To ensure you are getting the best exchange rate, it may be helpful to use a price estimator or a tool that compares deals and tracks rates, such as the Monito App.
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Online transfers
Online money transfer services are a popular method of sending money from Australia to Ukraine. These services are often more cost-effective than banks, with lower fees and more favourable exchange rates.
One such provider is Western Union, which offers online, in-person, and app-based money transfer services. To use their online service, you must first register for a free profile and confirm your identity with a passport or government-issued ID. You will also need your receiver's account number and information about the purpose of the transfer. Western Union allows you to transfer money to a qualifying bank account or a participating location for cash pickup.
Wise (formerly TransferWise) is another well-known company that offers online money transfers from Australia to Ukraine. Wise has over 12.8 million users and provides a secure platform with industry-leading security systems and 2-step verification. To use Wise, you need to open a free account, enter the amount you want to send in Australian dollars, review the fees and exchange rate, and then pay by bank transfer, card, PayID, or your Wise account balance. Wise will then convert the money to Ukrainian hryvnia and send it to your recipient.
Other online transfer services include Paysend, which allows you to send money online directly to Visa and Mastercard or to any bank account in Ukraine, and Remitly, which offers both an app and a website for transferring money. OFX (formerly Ozforex) is another Australian company with a good track record for security and local customer support over the phone.
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Frequently asked questions
Some safe ways to send money to Ukraine from Australia include Wise, Revolut, Western Union, Paysend, Remitly, and OFX (formerly Ozforex).
Wise allows you to transfer Australian dollars to Ukrainian hryvnia quickly and safely. You can pay via bank transfer, card, PayID, or using money already in your Wise account.
With Revolut, you can send money online to Ukraine from Australia quickly and safely. Download the Revolut app on your Android or iPhone, sign up, and top up your account via your card or bank account. Then, enter the recipient's details and the amount you want to send in Ukrainian hryvnia.
The cost of transferring money to Ukraine varies depending on the provider. Some providers, like Wise, allow you to check the fees and exchange rate before initiating the transfer. Paysend, for example, charges a fee of 2 AUD for transfers to bank accounts in Ukraine.
