Whether you need to transfer money to Russia to move your pension, to cover payments on a property or just to send cash to friends and family, you will save money if you research your options.
While calling in at your local bank can be a handy way to transfer money to a Russian bank account, perhaps with the Bank of Russia or Alfa Bank, there are some hidden costs involved in the process.
The foreign exchange rates on offer to consumers tend not to be the most competitive on the market. But in addition to this you will find that most banks charge per-transfer fees each time you move money internationally.
If you need to make more than one transfer, these costs will soon pile up, which could prompt you to look for alternative methods to transfer money to Russia.
A Money Sending Bureau is one such alternative. But unfortunately these small establishments, seen on high streets around the world, also tend to charge high fees – sometimes as much as 15 per cent!
It could be well worth your time opening a free online account with RationalFX, if you are determined to avoid these high transfer fees. Even other foreign exchange brokers sometimes enforce per-transfer fees, but with RationalFX you can be sure that we will not charge you high fees to transfer money to Russia and the foreign exchange rates on the Russian ruble are very competitive.
So why not open an online account today? Then you can compare currency exchange rates and pick the best option for you to transfer money to Russia.