russia money transfer

How to Send Money to Russia with PayPal

There are a lot of different methods that you can use to transfer money abroad to Russia, and it can be difficult to narrow in on the best one to use. PayPal offers fast, reliable international money transfers that can be easily initiated and completed from your mobile device here is a handy step-by-step guide to help you successfully complete your PayPal money transfer to Russia.

  1. Start by downloading the PayPal app or visiting Paypal.com and creating a free account if you don’t already have one. If you do, log into your account to proceed.
  1. Select the ‘send and request’ tab and then click on the ‘send money abroad’ section.
  1. Select the country that you want to transfer money to. In this case, you’ll select Russia.
  1. Choose how you want your money to arrive for your recipient. Xoom is PayPal’s new platform for sending money abroad, so PayPal may prompt you to use this to directly send money to your loved one’s Xoom PayPal account, but there are a few other receipt options.
  1. Transferring money will be easiest if your loved one also has a PayPal account where they can receive the funds. It isn’t impossible to send money if they don’t have this, but having an account will make it simpler.
  1. Input the amount of money that you want to send in your international money transfer to your loved ones back home and confirm the amount before continuing.
  1. Next, you should see the fees automatically populate that indicate how much of the amount that you send will be received by the recipient and how much will be collected for the conversion of currency and service fee.
  1. Enter the recipient’s name, address, and phone number. Make sure you double-check this information since it is difficult to change if you enter it incorrectly and you don’t want your money to go to the wrong person or get held up in the process.
  1. Once you’ve confirmed the details of the transfer, click “Send Money,” and your transfer will be completed as soon as possible!

Further Considerations

PayPal is super convenient to use. The platform has been around for a while and has been improved considerably since it was created. Users can now transfer money to more than 200 countries around the world, and the interface is clear and easy to use whether you are on the app or have visited their website.

The downsides to this platform however also arise from the fact that it is so well established and popular. Their fees are definitely on the higher side in terms of options because they don’t have to worry about staying competitive. They charge a fee of 4% if you are sending funds from a credit card or debit card, which can add up quickly if you are sending a larger sum. For example, if you send $5,000, then $200 will be taken in fees. If you are sending via a commercial transaction, these fees are even higher.

You may not be aware that PayPal attaches even higher fees for the exchange rate, which come out to approximately 70 rubles per 1 USD, which means they take about 3 rubles per dollar on top of the 4%.

As always, it is important to weigh the positives against the negatives. PayPal offers a reliable, well-vetted service that transfers your money to Russia quickly and securely. Unfortunately, though, a pretty significant portion of your funds is lost to transfer and conversion fees.

We Can Help

Remitbee was founded by immigrants for immigrants, and we understand the complexities of needing to send money home to your loved ones and the challenges that come with finding a reliable way to do this. We ensure that as much of your money arrives as possible and keep our fees transparent and as low as possible.

**To get started, download our app or visit Remitbee.com and create a free account

From there you can see our different verification transfer limits, transfer methods and the fees associated with those international money transfers. If you have any questions, our support staff are knowledgeable and happy to help.

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