Money moved from Russia to the world on the rise – If you are a money mover, be smart about your choices
In an era of digital globalization, sending money digitally has become as natural and easy as buying from a convenience store. With Western Union you can send money with your credit or debit card to an account back home from virtually anywhere, with a 1% minimum fee.
Money flows from Russia to the world are on the rise. In 2017, individuals sent USD 20.5 billion personal remittances, up from USD 16.2 billion in 2016, with Russia within the Top Four remittance sending countries in the world after the US, Switzerland and Germany. Remittances are sent partly in cash and partly through digital channels based on senders and receivers’ preferences.
There are many ways to send money digitally from Russia, the most customary being via your bank. However there are many questions to ask: What are the fees? Can I send from my mobile or laptop or do I have to visit a location to send in person? Do I have to open an account? Can I do the transaction myself from beginning to end or will I need someone to help me? Are there any limits or restrictions? How long will it take for my money to arrive? Will the receiver receive the entire sum? Does the receiver pay a fee?
Money Transfer businesses such as Western Union have evolved to give customers the choice to send cash in person at a retail Agent location as well as via the company’s digital channels. Over the past year customers in Russia sent money to over 190 countries and territories through Western Union.
Can I send digitally with Western Union and have the funds paid out into a bank account?
You can send online on https://www.westernunion.ru/ru/en/home.html from any banking card, for pay-out into bank accounts in over 50 countries and territories.
Can I send digitally with Western Union and have the funds paid out into cash?
You can send online from https://www.westernunion.ru/ru/en/home.html and pay for the transaction using card, for pay-out in cash in over 200 countries and territories.
Can I send cash with Western Union and have the funds paid out into account?
You can send in cash from one of our more than 42,000 retail Agent locations across the Russian Federation, for pay-out into accounts in over 50 countries and territories. Check Western Union for a nearby location
Can I send cash with Western Union and have the funds paid out in cash?
You can send in cash from one of our more than 42,000 retail Agent locations across the Russian Federation, for pay-out in cash in over 200 countries and territories. Check Western Union for a nearby location
Can I send via Western Union from my current bank account?
How fast will the money be received?
Money can be received in minutes.
What is the maximum amount of money I can send?
You can send up to 50,000 RUB per online transaction or even more after profile data verification.
If you need to send more you can also visit a bank and ask for a Western Union® transfer, which many banks in Russia offer. Please note that for a transaction over 7,499 USD the operator can require additional information and documents -and that Russian residents can send no more than 5,000 USD per day.
What forms of identification do I need to send and receive money?
You will need to show a valid ID in order to send and receive money. To receive money you will also need the money transfer control number (MTCN) provided to the sender.
What does it cost to send and receive money?
Fee calculation is easy: only the sender pays a transfer fee, and the exact fee appears on your screen if using westernunion.ru. For online money transfers, the minimum fee is 1%. If using retail locations, the Agent representative will advise you on the fee.
How reliable is Western Union?
Western Union processes 32 transactions every second throughout the world and moves money to almost every country in the world.
The company has a brand heritage of 160 years and money moving experience of over 145 years. The combined experience and innovation of Western Union translate into moving money with speed, reliability and convenience.
- World Bank Data.
- Agent location count valid as of 31 March 2018.
- Agent location count valid as of 31 March 2018.
- Funds may be delayed or services unavailable based on certain transaction conditions, including amount sent, destination country, currency availability, regulatory and foreign exchange issues, required receiver action(s), identification requirements, Agent location hours, differences in time zones, or selection of delayed options.
- Additional restrictions may apply. See Send Form for details Western Union also makes money from currency exchange. When choosing a money transmitter, carefully compare both transfer fees and exchange rates. Fees, foreign exchange rates and taxes may vary by brand, channel, and location based on a number of factors. Fees and rates subject to change without notice.