How To Send Money On Paypal Using Credit Card

In this article I tell you my experience sending money to Russia using different methods: bank channelize, Western Jointure, PayPal and TransferWise. You will see how the terms differences 'tween one method acting or another are very noticeable.

Updated May 17, 2022

0. The different ways of sending money to Russia

Happening several occasions I have had to direct teensy amounts of money to relatives to Russia or Georgia. Sending money abroad always means paying commissions, and if you do it to countries of the late USSR (Russia, Ukraine, Georgia, Armenia, Azerbaijan, etc.) these commissions are even higher.

Let's analyze what IT costs today to send $1,000 to Soviet Russia (the results are the same if you send euros, pounds, Australian dollars, Canadian dollars or Indian rupees), with the recipient receiving the money in rubles, away comparing 3 methods:

Traditional methods: such as WesternUnion or MoneyGram.
Online payment services: so much every bit PayPal, WebMoney operating theater Yandex Money.
P2P money transfer services: like TransferWise.

I possess used these three methods to send money to Russia. For relation purposes, all calculations were made on English hawthorn 17, 2022.

The first thing I have to say is that for small amounts of money, a bank wire remove is the worst method, since the fees charged by the Banks (from both the issuance bank and the receiving bank in Russia) are usually very high. For this reason, I have stopped using bank transfers for sending money to Russia for many years, since these are very pricey.

1. Traditional methods: WesternUnion Beaver State MoneyGram

WesterUnion or MoneyGram are specialistic companies in sending money beyond the sea. They have an extensive network of offices, which I have used on different occasions, though they are now offering the money transfer service through their Internet website.

Good, sending $1,000 to Russia finished Western Union has a utmost commission if you send it by bank carry-over ($25) or by debit or course credit card ($25), but it applies a good exchange rate. This agency that if you send $1,000 to USS today, you would be charged an rate of exchange of 71.9160 rubles per dollar, so that the recipient in Russia testament undergo 71,916.00 rubles.

Send money to Russia by Western Union USD dollars

2. Online payment services: PayPal, WebMoney and Yandex Money

PayPal is a payment method already illustrious by virtually anyone, which allows you to buy in more websites, likewise every bit transferring money 'tween users by email. Opposite similar methods implemented in Russia are WebMoney and Yandex Money.

PayPal, contrary to what many people think, is not an system method to send money to Russia (operating theatre to countries in which information technology implies a currency change), principally due to two reasons:

Firstly, when it comes to international personal money transactions to Russia, the commission is not free, as PayPal charges a fee of 2.15 USD if it's being sent from a bank account, and 4% if it's conveyed from a quotation card, whether debit or credit. In the case of commercialised transactions, commissions are even higher. You can balk the commissions therein link.

Secondly, when you mail dollars to a recipient role in Russia, Paypal applies a kinda unfavorable exchange rate. Today it applies an rate of exchange of 70.0678 rubles per dollar bill.

Send money to Russia by PayPal USD dollars 1

Send money to Russia by PayPal USD dollars 2

Thus, if you send $1,000 to a relative or friend of Russia, the commission would be $2.15 ($40 if you use your bank card), but your champion or Russian family member would receive in its Paypal account a total of 70,067.81 rubles. Also, keep in mind that if the recipient wants to transfer this money to its Crapette account statement, IT would get to wait a couple of days to have the money useable.

3. P2P Money Transferral Services: TransferWise

Recently, several financial match to peer (P2P) online services have emerged, offering money transfers with low commissions and that apply the actual exchange charge per unit of the moment. The most popular of all is TransferWise (from the creators of Skype).

This is the method I currently economic consumption to base money to Russia because it is cheaper and easier for me.

For example, sending $1,000 to Russia today has a commission of 1.6% (16.01 USD) but the good thing nigh TransferWise is that information technology applies an rate of exchange close to the echt substitution rate (73.4870 rubles per dollar). As a leave, the recipient in Russia receives 72,310.47 rubles (having discounted already the applied commission, unlike late methods where commission is paid separately). In addition, note that TransferWise allows you to make the payment past card without extra costs:

Send money to Russia by TransferWise USD dollars

4. In compact

Western Union:

You send $1,000 and the recipient in Soviet Union receives 71,916.00 rubles.
In addition, you have to pay a commission of $25.

PayPal:

You charg $1,000 and the recipient role in Russian Soviet Federated Socialist Republic receives 70,067.81 rubles.
In addition, you undergo to pay a commission that varies between $2.15 and $40.

TransferWise:

You send $1,000 and the recipient in Russia receives 72,310.47 rubles rubles (with the commission of $16.01 already discounted of this amount in rubles, dissimilar previous methods where commission is paid one by one).

All calculations were ready-made on May 17, 2022. As you can see, the price differences are same large between these distinct methods.

Have you sent money to Russia or to countries of the former USSR? You can tell apar me more or less your experience at a lower place.