Money Transfers in Ukraine

Are you planning to study in Ukraine or do you want to come to Ukraine for some reason? Worried about bank transactions and how to transfer money in Ukraine? Don’t be afraid anymore! In this article, I will tell you how to handle money transfer in Ukraine!

Receiving Money to Ukraine from Turkey

First of all, I would like to mention the students in Ukraine, who are the majority. If you regularly receive money from your family; The best method for you would be to work with Turkish Banks. In this way, money transfer in Ukraine will be easier.

Turkish banks are a good alternative as they are more advantageous in terms of commissions for low amount of money transfers. So, are all Turkish banks equally advantageous? No! Unfortunately, not all are advantageous as most Turkish banks do not have agreements with the Ukrainian government. Well, which Turkish bank is more advantageous in Ukraine, through which bank should money be transferred in Ukraine?

First of all, TEB Bank in Turkey, known as Ukrsibbank in Ukraine, is the best option for students. You can transfer money with almost 0 commission as if you were sending money domestically. Secondly, Ziraat Bank is one of the banks most used by students in Ukraine. You can transfer money in Ukraine with these banks.

From which bank in Ukraine can I withdraw with a Turkish Debit Card?

The answer to this question will surprise you a little, but since the commission in Ukrainian banks is higher than in Turkish banks, there will be a lot of money spent on commission in frequent withdrawals. If all the money is to be withdrawn at once, then the money spent will be different since the commission will be calculated only once. Let’s come to the conclusion…

If you withdraw your money in one go, it is better to choose OshadBank first and then Ukrsibbank. If you cannot find one of these at the moment, I recommend Privatbanki as a third alternative. If you want to keep your money on the card and withdraw as much as you need, then you should definitely choose Ukrsibbank.

As you can imagine, there are dozens or even hundreds of options for sending money abroad. In my 6 years of education life, the option I used the most was Western Union. For a long time, I was attracted to the fact that it can be found in every bank, that it is a well-established structure, and that it can withdraw money directly in dollars with low commission. Apart from Western Union, there are also options such as MoneyGram, UPT, Transferwise, Swift.

Sending Dollars to Ukraine with Western Union

Money to be Sent (USD) —————— Commission

• 0.01 – 200.00 ————————4 USD Commission
• 200.01 – 400.00———————8 USD Commission
• 400.01 – 500.00———————14 USD Commission
• 500.01 – 700.00———————18 USD Commission
• 700.01 – 1,000———————22 USD Commission
• 1,000.1 – 1,500 ———————30 USD Commission
• 1,500.01 – 5,000———————40 USD Commission
• 5,000.01 – 7,500.00——————50 USD Commission

Sending Dollars to Ukraine with UPT

• 0.01 – 200.00 ——————5 USD Commission
• 200.01 – 300.00——————6USD Commission
• 300.01 – 400.00——————7 USD Commission
• 400.01 – 500.00——————9 USD Commission
• 500.01 – 700——————12 USD Commission
• +1000 —————– 16 USD Commission
• +2500 —————- 42 USD Commission