Sending Money to Russia in 2023 (2024)

One of the international sanctions that hit Russia in 2022 came fromthe SWIFT network, also known as the Society for Worldwide Interbank Financial Telecommunication.SWIFT connects over 11,000 banks and financial institutions in over 200 countries and is governed by the G-10 central banks.

On March 1st, 2022, the SWIFT network cut Russian banks from its system, making it very difficult to buy Russian rubles, convert foreign currency into Russian rubles, transact with businesses in Russia, or remit money to Russian friends and family. But even nearly a year and a half after Russia was expelled from SWIFT, there is still a way to access the ruble exchange market withProfee, although restrictions may apply.

In this guide, you will learn if you can transfer money to Russia now and how to send money to Russia with Profee's mobile money transfer andmulti-currencymobile app.

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Key Facts About How to Send Money to Russia

Can I Send Money to Russia in 2023?

While there are still methods to send money to Russia in 2023, which we will describe in detail below, traditional banks and well-known money transfer services no longer allow you to transfer funds into Russia.

In addition to sanctions from SWIFT network banks such as HSBC or Lloyds, international money transfer companies have also engaged in private boycotts against Russia. This means that they have suspended their services to and from the country.

The following are some of the most popular money transfer services which no longer support transfers to Russia as of 2023:

• Revolut as of March 2022
• Remitly as of February 2022
• Wise as of February 2022
• OFX
• Western Union as of March 2022 (learn more here)
• MoneyGram as of March 2022
• XE Money Transfer as of February 2022

How To Send Money to Russia in 2023

International sanctions against Russia varied depending on the country imposing them. Common sanctions targeted Russian individuals, entities, and sectors such as energy, defense, and finance. These measures have included asset freezes, travel bans, and restrictions on certain exports.

It's important to note that government sanctions typically do not extend to private enterprises. The private boycotts made by a majority of the global money transfer industry, including Western Union and Remitly, were decided independently by the companies.

Since this is a rapidly changing environment, we recommend directly inquiring with the companies or your bank for updates. Below, we discuss potential ways to send money abroad to Russia:

Option 1: Emergency Transfer of Funds to Russia

If you know a foreigner living or temporarily destitute in Russia, then their nation's embassy in Russia may be able to assist you. For example, in some cases, funds can be wired through the U.S. Department of State to U.S. citizens in Russia.

This option will require contacting the relevant embassy and requesting case-by-case assistance for foreign nationals (or dual citizens) in Russia.

Option 2: Cryptocurrency

Some people have reported resorting to cryptocurrencies to send money to individuals in Russia. However, this is a rapidly changing and volatile industry. It is best to inquire directly with your cryptocurrency company and crypto wallet about money transfers into or out of Russia.

Option 3: Send Money to Russia With Profee

Profeeis the only money transfer provider offering international transfers to Russia. It is only available to EU/EEA and UK residents.

Mastercard, VISA, and other card payment systems have suspended operations in Russia, meaning that Mastercard and VISA cards issued outside of Russia will not work at Russian ATMs or vendors.However, cards issued inside Russia will continue to work as long as the transactions made with the card are done within Russia.

If you or a family member has a Mastercard, VISA, or MIR card issued in Russia, thenProfeemay be your best option.

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Profee'sGBP-RUB exchange ratehovers around 2.5% above themid-market rate, an exchange rate fee you must pay for the service.

Learn more about their product, fees, and customer service with our in-depthreview of Profee.

How to Send Money to Russia With Profee

Here's how to send the Russian ruble withProfee:

1. Download theProfeeapp and sign up for an account;
2. Input your EU or UK debit or credit card details;
3. Inputreceiver's card details (must be issued in Russia);
4. Specify the amount you want to send to a Russian card;
5. Confirm the quick card-to-card transfer.

Sanctioned Banks in Russia

The following are Russian banks that were sanctioned and removed from the SWIFT communication system on March 1st, 2022, meaning you cannot send money to cards from any of these banks, even via Profee:

• SberBank,
• Tinkoff,
• Gazprombank,
• Bank Otkritie,
• Novikombank,
• Promsvyazbank,
• Rossia Bank,
• Sovcombank,
• VEB,
• VTB.

If a sanctioned bank issued your recipient's card, then we recommend that the recipient in Russia applies for a card with an unsanctioned bank.Money transfers and card transfers may still be possible with Profee if you send money to a Russian card issued by an unsanctioned bank.

According to Profee's website as of June 28th, 2023, the company continues to transfer funds to VISA, Mastercard, and MIR cards issued by non-sanctioned banks in Russia, which include:

• Raiffeisen,
• Pochta,
• UniCredit,
• Home Credit Bank,
• Citibank,
• Russian Standard Bank,
• Renaissance Credit,
• Credit Europe Bank,
• Ozon,
• Qiwi.

How Can I Send Money to Russia Now From the USA?

It is not possible at the moment for you to send money to Russia from the USA. Case-by-case exceptions may be made if you contact the US State Department to send emergency transfers. You can also read our guides on how to open a bank account in the UK without residency or how to open a bank account in Germany as a foreigner to learn about your options.

Can I Send Money to Russia Now From the United Kingdom?

You can open an account with Profee if you have residency or a bank account in the EU, UK, or European Economic Area (EEA).

You may also speak with bank representatives in the EU/EEA and the UK to find solutions to send money to an unsanctioned bank in Russia. This will likely require considerable consultation and documentation, but you should reach out to your bank for specific details.

Can I Send Money to Russia From Other Countries?

Other major regions that send money to Russia include Canada, Australia, and India. Unfortunately for customers in these countries (and most others around the world), money transfers and SWIFT wires are not available to Russia.

Since the situation in Russia is continuously evolving, we recommend contacting your bank or money transfer company directly for the latest updates.

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FAQ About How to Send Money to Russia in 2023

• Can I send money to Russia?

  There are strong restrictions on sending money from Russia due to government sanctions and political tensions. Profee is one of the only online money transfer providers that allows limited transfers to Russia. You must be an EU/EEA or UK resident to sign up.

• Can I send money from Russia?

  Due to international sanctions against Russia banks, SWIFT wire transfers cannot be initiated from Russia. All major money transfer companies have closed operations in Russia, making it extremely difficult to send money from the country.

• Is Western Union still working in Russia?

  No, Western Union suspended its operation in Russia across all channels in March 2022. Learn about your alternatives to Western Union in Russia here.

• Does PayPal still work in Russia?

  PayPal suspended the ability to send or receive funds with Russian accounts in 2022. It also stopped signing up new accounts in Russia.

• Is MoneyGram working in Russia?

  No, MoneyGram has stopped sending transfers to Russia as of March 2022.

• Can I send money to Russia with Wise?

  Wise has stopped operations in Russia and has set restrictions on customers in Russia. Learn more at wise.com.

• How to send money from India to Russia?

  Money transfer companies in India are not operating transfers to Russia.

• Can you send money from UK to Russia?

  It is possible to send money from the UK to Russia with Profee. However, there are still many restrictions due to government sanctions and political tensions.

References Used In This Guide

1. Wikipedia. SWIFT ban against Russian banks. Accessed 20 September 2022.
2. U.S. Embassy & Consulates in Russia. Emergency Transfer of Funds to Russia. Accessed 20 September 2022.
3. Gov.uk. Foreign travel advice: Russia. Accessed 20 September 2022.
4. Wise. Send money to Russia. Accessed 20 September 2022.
5. CDLA. Is it Illegal to Send Money to Russia? 30 April 2022.
6. Protocol.com. Money-transfer companies are getting swept into the Russian invasion of Ukraine. Accessed 20 September 2022.
7. Profee. Send money from France to Russia. Accessed 20 September 2022.

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