Sending funds to loved ones in Ukraine under the new rules

[Photo Guy]

Moneygram online has been working fine for me. Maybe I'll try the Walmart approach if it's cheaper.

[Wayne]

If you send more than a certain amount with Moneygram, you must show you social security card. It seems than the information is reported to our government. Moneygram fees are always cheaper than Western Union.
 
A wire transfer from bank to bank usually has a fixed fee, so it depends upon the amount you are sending.
 
Neither Moneygram nor Western Union work in Crimea now.

[AkMike]

  We went a different route to be able to send emergency funds to my step son in Kyiv. We opened an account here in our names and sent a debit card to him. Make sure that it's noted in the bank records that it's use is allowed in UA! Then funds are deposited as needed here, he hits an ATM there to withdraw the funds. We emailed the PIN after the card was received in the mail. There is a small fee for the use of the conversion, but not much compared to the ones shown above.

 

[ML]

We have opposite problem . . . getting money out of Ukraine and into USA.

[calmissile]

  We went a different route to be able to send emergency funds to my step son in Kyiv. We opened an account here in our names and sent a debit card to him. Make sure that it's noted in the bank records that it's use is allowed in UA! Then funds are deposited as needed here, he hits an ATM there to withdraw the funds. We emailed the PIN after the card was received in the mail. There is a small fee for the use of the conversion, but not much compared to the ones shown above.

We do exactly the same thing with Wells Fargo.  The only issue is that get charged $5 for every foreign ATM withdrawal (regardless of amount).  There is almost no charge to use it as a credit card for purchases.

[AkMike]

We have opposite problem . . . getting money out of Ukraine and into USA.

There's some new laws being considered right now to allow this.

[ML]

There's some new laws being considered right now to allow this.

Mike, do you have a reference to where discussion of this possible law is found ?

[AkMike]

Great News folks!

 This should open the doors for transferring money in and out of UA.

Central bank widens road for cross-border e-commerce

"The legal firewall blocking access for Ukrainians to international banking and online payment systems is set to come tumbling down as the National Bank of Ukraine removed a number of barriers in e-commerce.

E-payment systems like PayPal can now fully operate in Ukraine. Previously, Ukrainians could purchase goods abroad using PayPal, but it was illegal for them to receive payments on their accounts.

Only three global payment systems – MasterCard, Visa and American Express – and six global money transfer systems – MoneyGram, Western Union, MEEST, RIA, Caspian Money Transfer and Khazri – are currently on the NBU’s list of registered money transfer systems that have permission to make both inbound and outbound transfers. The relaxing of the rules should let more register."

For much more info click the link.




http://www.kyivpost.com/content/business/central-bank-widens-road-for-cross-border-e-commerce-394705.html