Transfering Money From Ukraine to the US

[Grid 0]

Hi Everyone,

Does anyone have ideas about the best way to transfer money from Ukraine to the US. My finacee will receive monthly rental income from her apartments and would like to have money sent to her in the US. We are not sure how much per month the Ukrainian laws will allow to be transfered out of the country. We are also not sure of the cheapest way to transfer money. Does anyone have experience with this?

Thanks.

Grid

[Brad and Vika 129]

Hi Everyone,

Does anyone have ideas about the best way to transfer money from Ukraine to the US. My finacee will receive monthly rental income from her apartments and would like to have money sent to her in the US. We are not sure how much per month the Ukrainian laws will allow to be transfered out of the country. We are also not sure of the cheapest way to transfer money. Does anyone have experience with this?

Thanks.

Grid

How will the income be collected? I know that both Western Union and MoneyGram work both directions, but can be expensive. I suggest having the funds deposited directly into an account and drawing it with an ATM transfer or draft. Banks on both ends will make some money, but it will be less expensive than wires. Avoid bank wires, as this direct account to account transfer will be very costly and also allow folks in Ukraine access to account data. Also, have a separate account in the US just to receive the funds - then transfer them out immediately to insulate funds. There should be little or no cost for that. This is my field, so PM me if you need more details

Edited July 28, 2008 by Brad and Vika

[1HappyGuy 45]

If you are talking about a fairly small amount, then using Western Union with 48 hour delay is pretty cheap in comparison to its premium service. I just sent $200 to my father in law in Russia for $7.99. Yeah, I know that's still a lot, but way cheaper than the fast service. Otherwise, maybe you should have it deposited into a bank over in Ukraine where it can earn pretty high interest. Then withdraw it either in smaller amounts through the banking system or when you go back to Ukraine for a visit. Just inflat the amount of cash you arrive with and make sure you will have enough room to bring the cash back from your original declaration.

[Brad and Vika 129]

I sent a PM

[victor+natasha 0]

We are not sure how much per month the Ukrainian laws will allow to be transfered out of the country.

Ukrainian citizen may transfer as much money as they want. As far as the way to do it I would agree with Brad, make an ATM card account and you can withdraw money out of it anywhere in the world. It will only cost you 1% to do it.

[payxibka 10,045]

With 17.0 - 19.5% interest rate currently from UA banks, just deposit it there and forget about it... it is a better return than you can get here... Both Nadra Bank and Privat Bank offer deposit insurance as well (others may as well).