How to send money to Russia

 

How you decide to send money to Russia depends on a number of factors, including the amount of money to be sent, the frequency with which you intend to make transfers and who you are sending the money to. 

If you want to send money to a Russian bank account, with Sberbank or Gazprombank for example, then it might be worth enquiring with a bank in your country of residence. 

Their services are likely to be quite expensive, with a poor Russian ruble exchange rate and enforced per-transfer fees, but they will provide you with a secure and convenient service. 

Indeed, you can usually set up a transfer with just one phone call or a visit to your local branch. 

But if you need to send rubles to Russia when your recipient does not have access to an account, banks are not going to be much help. 

Money Sending Bureaus, on the other hand, could allow you to send money to Russia. 

These establishments are found on high streets around the world and will help you move money internationally without using banks. 

Unfortunately, they are generally even more costly than banks. You can expect to pay per-transfer fees of between ten and 15 per cent of your transaction and the currency exchange rates on offer will be nowhere near the best consumer rates on the market. 

If you want to avoid this issue, it could be worth looking into using a foreign exchange broker to send money to Russia. 

Brokers tend to have the some of the most competitive ruble exchange rates available to consumers and they are usually well regulated services. 

RationalFX, for example, is authorised by the UK's Financial Services Authority. 

We also have the added benefit of offering a low fee service when you send rubles to Russia with us. 

Why not open an online account with RationalFX today? Then you can compare our currency exchange rates with other service providers and ensure that you pick the best way for you to send money to Russia.