Send Money To Ukraine

Currency Symbol and Swift Codes

What currency does Ukraine use? The Ukrainian hryvnia or hryvnya (UAH) is the officially used currency in Ukraine. One hryvnia is divided into 100 kopiyky. The hryvnia has been the country’s official currency since 1996.

Does Ukraine use euros? While exchanging euros, U.S. dollars, and Russian roubles is easy when you are in Ukraine, you cannot use currencies other than Ukrainian hryvnia to pay for local transactions. Some private establishments accept payments in foreign currencies, although such businesses are few and far in between.

If you wish to transfer money to a bank account in Ukraine, you will need to provide the SWIFT code of the receiving bank. Listed below are SWIFT codes of some popular banks in Ukraine.

Case Study

Anna’s employer required that she move to Russia on a long-term assignment. Her younger sister was still in college so she continued living in Ukraine with their mother. Since their mother did not earn much, Anna was to send them some money each month. She could use the services of her local Russian bank, but she decided to run an online comparison first. This is what she found out.

Not only did Anna’s mother stand to receive some extra money every month, the money also got to her account sooner when compared to the bank. Besides, Anna could schedule her transfers through the money transfer company, so she did not have to go through the entire process each month.

Cash Pickup Locations in Ukraine

Sending money to Ukraine in a hurry is possible if you get the recipient to collect funds from a cash pickup location. You can also use this method if the recipient does not have a bank account. Popular overseas money transfer companies such as MoneyGram, Western Union, and Ria have agent locations in Ukraine.

Safety Tips for Picking up Cash in Ukraine

While most trips to Ukraine go trouble-free, you should remain open to the possibility of petty crime such as bag snatching and pick-pocketing, particularly in and around Kiev. If you want to collect a large sum from a cash pickup location, do so during daylight, and try to take someone along.

Avoid venturing out alone at night, especially in dimly lit areas. Keep your valuables carefully when using public transport, or when you visit tourist spots and crowded areas. Do not leave your bags, wallet, or documents in vehicles and thefts from parked vehicles are common. Do not leave your drinks unattended because there have been instances of drinks being spiked.

When exchanging currency, use official booths. Hold on to the receipts if you plan to exchange money on your way out of the country. If you wish to exchange more than UAH 150,000, you will need to present your passport.

Debit and credit card cloning is common so do not leave your cards out of your sight at any time. If you plan to travel outside of cities, carry enough local currency.

What Information Do I Need to Transfer Money to Ukraine?

Sending money to Ukraine requires that you provide different kinds of information, which varies depending on the desired transfer method.

• Bank account. Details you need include the name of the recipient, the name of the recipient’s bank, the recipient’s bank account number, and the receiving bank’s SWIFT code.
• Cash pickup. You will need the location from where the recipient wants to collect the cash as well as the recipient’s complete name. The recipient may collect the money by providing a reference number and a valid form of photo ID.

Regulations When Transferring Money To and From Ukraine

The Ukrainian government imposed a number of temporary currency restrictions in December 2014, with the aim of minimizing outflow of capital from the country and regulating the forex market. The National Bank of Ukraine (NBU) liberalized some of the restrictions in 2016 and 2017, although the following still apply.

• The interbank forex market is still regulated by the NBU.
• Early repayments toward loan agreements between foreign creditors and Ukrainian borrowers when bonds and banks are not A rated are not permitted.
• When purchasing or making payments over U.S. $50,000, the NBU requires additional documentation.
• Barring a few exceptions, the NBU does not permit the purchase of foreign currency in case a bank’s client holds U.S. $25,000 or more in a foreign currency account.

Foreign nationals in Ukraine may transfer up to UAH 15,000 in one day without opening a bank account.