One of the accessible and widespread variants of transferring money to Ukraine that appeared not so long ago — is the payment system TransferGo. The online service allows for making international money transfers in real-time mode. The sender can make a transfer in euros, and in Ukraine the money arrives in any of the chosen currencies (euros, dollars, or hryvnias), being converted at a certain tariff. Everything depends on which currency is supported by the recipient's card.
TransferWise engages in international money transfers in 59 countries of the world. At this time, one of the systemic banks in Ukraine cooperates with this payment system.
TransferWise transfers money at the average exchange rate, and therefore transferring funds to Ukraine turns out to be several times cheaper. At the same time, the rate is fixed at the moment of sending, and therefore its changes in the next hours will not affect the transfer amount.
TransferWise charges a fairly small commission for the transfer of funds in Ukraine; however, the size depends on the amount and type of currency. The client can review the percentages and the total amount during calculation. The cost of transferring money to Ukraine is as follows: in dollars - 2.35% + 1 USD, in euros - 2.3% + 0.5 EUR, in zlotys — 1.35% + 2 PLN, in pounds — 4.15% + 1 £, in Canadian dollars — 2.25% + 0.25 CAD.
To make a transfer, the client needs to register at TransferWise. Then deposit the desired amount from their bank card or account.
The companies apply the average exchange rate. This makes transfers almost 5 times cheaper than in analogous payment systems.
A money transfer of the company TransferGo takes from 30 minutes to 5 business days (depending on the method chosen by the sender).
Both with banks and with transfer systems, tariff policy depends on a multitude of factors.
Therefore, each client chooses the transfer system according to their criteria — method of transfer, commission (min), Amount (min), and time of delivery of the transfer.
This is either a classical SWIFT transfer, or a money transfer using instant widespread international transfer systems, or «newcomer» companies using the Internet (such as TransferGo, TransferWise, Spoko, etc.)
As a rule, the duration and method of delivery of the transfer determine its cost: transfer to a card or in cash. The faster the client wants to receive the money, the more expensive will be the delivery.
Anna Ruzhynska,
Head of the Sales Department of Payment and Money Products of the Department for Work with Retail Clients of JSC «CIB»
