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Home Can you send money to Russia via PayPal/how to send money to Russia PayPal?
10 May 2023 By PAYCEC
PayPal is currently unavailable in Russia. PayPal has ceased accepting new Russian accounts and has blocked the ability to send or receive payments from Russian accounts. PayPal previously only allowed Russians to make cross-border payments, and it will halt operations in the Russian Federation on March 6, 2022, joining other fintech companies that support sanctions against Russia.
Following this, Visa, Mastercard, and American Express (AmEx) all suspended business in the country. As a result, according to top data and analytics firm GlobalData, these large payment processors will lose $2.4 billion in revenue from Russia and Ukraine.
However, you can choose from several alternative payment methods to send money to Russia:
- Traditional methods: such as WesternUnion or MoneyGram.
- Online payment services: such as WebMoney or Yandex Money.
- P2P money transfer services: like TransferWise.
How To Send Money to Russia in 2023
People’s ability to transfer money to Russia has been hampered by international sanctions and private boycotts. The following are some options for sending money to Russia from abroad:
1. Emergency Fund Transfer to Russia
If you know a foreigner who is residing or is temporarily homeless in Russia, the embassy of their home country may be able to assist you. Funds can be transmitted to US residents in Russia in rare situations through the US Department of State.
One alternative is to contact the relevant embassy and request case-by-case help for foreign nationals (or dual citizens) in Russia.
2. Cryptocurrency
Some people have reported sending money to persons in Russia using cryptocurrencies. This is, however, a fragile and frequently changing industry. It is advisable to contact your cryptocurrency company and crypto wallet directly.
3 . Transfer Money to Russia Using Profee
MasterCard, Visa, and other card payment systems have stopped operating in Russia. Cards issued in Russia, on the other hand, will continue to function as long as the transactions take place in Russia.
Profee may be ideal if you or a family member owns a Russian-issued MasterCard, Visa, or MIR card. Profee is Russia’s lone provider of international money transfers.
Profee’s GBP-RUB exchange rate is around 2.5% higher than the mid-market rate, and you must pay an exchange rate fee for the service.
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