Transferring money from Russia to another country is not as challenging as it sounds. There are plenty of companies offering money transfer services. According to Moneytransferguide.com, three of the most widely used companies for transferring money are PayPal, MoneyGram, and Western Union.
- Skill level:
Visit any money wiring website, such as PayPal, MoneyGram or Western Union (see References) and register on them. You will be required to provide your name, address, e-mail address and bank account/credit card details.
Click on “Transfer Money” or “Send Money.”
Select the country (Russia) and city that you are sending the money from.
Determine the type of money-transfer services you prefer. You can have the recipient pick up the money from an agent location, or you can directly have it deposited into the recipient’s bank account.
Add the name, address and e-mail address of the recipient.
Pay the fee for the transfer. The rates of every company are different and are deducted from the amount of money you are sending.
Contact the recipient and tell them where to collect the money. If you have chosen a direct-transfer to the bank account, then it should not be a problem for the recipient to access his personal bank account. If you have chosen a company like MoneyGram, the recipient will be required to visit the nearest MoneyGram agent location, give the reference number to the agent and receive the money.
Tips and warnings
- Some companies, such as MoneyGram, give you a special reference number that the recipient has to provide to the company while receiving the money. Other companies like Western Union share an MTCN number with the sender. These measures ensure the money reaches the right person. Share the reference number in case of MoneyGram, or MTCN number in case of Western Union with the recipient.
- PayPal transactions can only be processed if the recipient has a valid PayPal account. Enter the recipient's e-mail address, and if he doesn't have PayPal account, PayPal would send an e-mail notifying him to open a PayPal account to receive the transferred funds.
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