The strategy of how to save money when sending euros to Russia

Remittance

2020-11-16

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Did you know that of the 146 million Russians, almost 11 million live abroad? Among them 3.4 million are in Ukraine, 2.3 million in Kazakhstan, 1 million in Germany, those people send money back home every year. Today we are going to talk about how to save energy, time, and money if you work in Germany, or if you hold Euros and need to transfer it into Russian rubles.

The best-known solution as most people uses their bank to send money abroad. However, this is not the cheapest option as banks take their margin on the exchange rate used and the transfer can take days. You’ll only know that when the money is received.

Another option is Western union and MoneyGram who are well-known for the cash pick-up service. The advantage of these two companies is that they have outlets almost all over the world, so whenever you want to send money, just take the cash to their service place. and the transfer speed is fast.  But they charge a very high fee. They are not recommended if you are not in urgent need.

Those two types of money transfer are not suggested.

Today, I have a better way to recommend. If your transfer is not very urgent, these companies are probably your best option as they provide the best rates on the market and all the steps of the transfer can be made online. Many money transfer companies exist on the market. Below 2 companies allowing remittances to Russia:

Transferwise: if you are willing to wait for a little, this is a cheap option for both small or large transfer but the transfer can take a few days. They have different payment ways, such as bank transfer, credit card, etc.

Epay.com: You can pay Euro via Wire Transfer or SEPA transfer, and then send it to Russia, Epay has the best exchange rate, and the funds can be sent on the same day or the next day.

Sending money to Russia with a money transfer company you’ll need first to create an account with these money transfer providers and provide them some information: your personal details, residency details, identification documents (ID card, passport, or driving license.

The secure, fast, and low-cost way to send euros to Russia, do you get it?

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