After moving to Europe, many people face the need to support their families financially. Sending money to Ukraine or CIS countries can be expensive, but choosing the right service can help you save significantly.
This article provides a comparison of transfer methods, personal experiences, and practical tips on how to minimize fees.
📌 This article is part of the guide for migrants: “How to Move to the EU in 2025 — Visas, Housing, Work, Finances“.
It complements the section on financial adaptation abroad.
Table of Contents
- Bank Transfers
- E-Wallets
2.1 PayPal
2.2 Wise
2.3 Skrill
2.4 Revolut
2.5 Paysend - Cryptocurrency Transfers
- Specialized Services
- Personal Experience
- FAQ
1. Bank Transfers
Bank transfers are the classic method, but not always the most economical. Some European banks offer special rates for transfers to Ukraine and the CIS.
✅ Pros:
- Reliable and secure
- Suitable for large amounts
- Some EU banks have partner programs with Ukrainian banks to reduce fees
❌ Cons:
- Generally high fees
- Slow delivery (1–3 business days)
2. E-Wallets
E-wallet systems are a popular choice for sending small to medium amounts with minimal fees. Here’s a look at the top 5 platforms for sending money to Ukraine and the CIS.
2.1. PayPal
- Fee: 2.9–5.4% + fixed fee (country-dependent)
- Speed: Instant (if the recipient has an account)
- Limits: Up to $10,000 per transaction
- Notes:
- Only works between PayPal accounts
- Withdrawals to Ukrainian banks possible via PrivatBank (1–2% fee)
2.2. Wise (formerly TransferWise)
- Fee: 0.5–1.5% (lower than banks)
- Speed: 1–2 business days
- Limits: Up to ₴1 million/month
- Notes:
- Direct card transfers to Ukrainian banks (PrivatBank, Monobank)
- Uses real mid-market exchange rate, no hidden markup
2.3. Skrill
- Fee: 1.45–3.99% (depends on sender’s country)
- Speed: Within 24 hours
- Limits: Up to €5,000/day
- Notes:
- Supports crypto transactions
- UAH withdrawals via partner banks
2.4. Revolut
- Fee: 0–1% (free within limits)
- Speed: Instant (within Revolut) or 1–3 days (to external accounts)
- Limits: Up to €5,000/month (free)
- Notes:
- Multi-currency transfers (USD → EUR → UAH)
- SWIFT available but with higher fees
2.5. Paysend
- Fee: 1–2% (fixed €1–2)
- Speed: Up to 15 minutes
- Limits: Up to $10,000/month
- Notes:
- Direct transfers to Visa/Mastercard in Ukraine
- Supports transfers in KZT and RUB (for CIS)
📌 Comparison Table:
| Criteria | PayPal | Wise | Skrill | Revolut | Paysend |
|---|---|---|---|---|---|
| Fee | High | Low | Medium | Low | Low |
| Speed | Instant | 1–2 days | < 1 day | Instant | < 15 min |
| Limits | High | Medium | Medium | Medium | Medium |
| UAH Withdrawal | Via Bank | Yes | Yes | Yes | Yes |
3. Cryptocurrency Transfers
Cryptocurrencies offer an alternative way to send money fast and affordably, especially if access to banking is restricted.
3.1. Top Cryptos for Sending
| Cryptocurrency | Fee | Speed | Where to Exchange in Ukraine/CIS |
|---|---|---|---|
| USDT (TRC-20) | ~$1 | 2–5 minutes | Binance, Kuna, WhiteBIT |
| Bitcoin (BTC) | $3–10 | 10–30 minutes | BTCUAH, LocalBitcoins |
| Ethereum (ETH) | $1–5 | 5–15 minutes | Exmo, KUNA |
3.2. How to Send Crypto to Family
- Buy USDT/BTC/ETH on an exchange (e.g. Binance, Coinbase)
- Transfer to recipient’s wallet address
- Cash out via:
- P2P platforms (e.g., Binance P2P)
- Crypto ATMs (in Kyiv, Odesa)
- Exchangers (BestChange, OKX)
3.3. Pros & Cons
✅ Pros:
- Low fees (from $1 per transfer)
- No banking restrictions (relevant for Russia/Belarus)
- Anonymity (if not using KYC platforms)
❌ Cons:
- Price volatility (risk of losses due to market swings)
- Not beginner-friendly
- Some recipients may not accept crypto
📌 Tip: If your family is unfamiliar with crypto, use USDT (a stablecoin) — its value is pegged to the US dollar.
4. Specialized Services
Services like Wise, Revolut, and Paysend offer some of the best rates and speeds for international transfers.
| Service | Fee | Speed | Limits |
|---|---|---|---|
| Wise | from 0.5% | 1–2 days | Up to ₴1 million |
| Revolut | 0–1% | Instant | Up to €5,000 |
| Paysend | 1–2% | Up to 1 hour | Up to $10,000 |
5. Personal Experience
I used Wise to transfer money from Germany to Ukraine. The fee was just 0.7%, and the funds arrived the next day.
Alternative: Revolut — also fast, but with lower limits.
Summary
- Banks — reliable but expensive
- E-wallets — faster and cheaper
- Crypto — lowest fees, but requires experience
- Specialized services — best overall balance
6. FAQ
❓ What is the cheapest way to send money?
Cryptocurrencies and services like Wise offer the lowest fees.
❓ Can I send money without any fees?
Rare, but some banks and services offer free transfers under certain conditions.
❓ How fast will the money arrive?
Anywhere from a few minutes (crypto, Revolut) to 3 days (bank transfers).
❓ Are there limits?
Yes, each service has its own limits — typically from €5,000 to ₴1 million.
❓ What’s the safest option?
Bank transfers and licensed services like Wise and Revolut.
📚 Also Read:
📚 Sources and References
- Wise Official Website — Fee calculator, transfer terms, and supported countries
- Revolut Fees and International Transfers Comparison — Updated tariffs and conditions for sending money abroad
- National Bank of Ukraine (NBU) — Regulations and restrictions for international money transfers to Ukraine
