Russia has a different limit with money sent from other countries.
The options are restricted, so what you can do is to go online and check out what options you have.
You will also see the criteria when you want to send money to Russia.
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- Wise is a very good provider for overseas transfers. The transfers are easy, convenient and secure. The most important thing is that the transfers are also much cheaper than with the bank.
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- Azimo is a very competent partner for the international transfer. Azimo has a large selection of countries and the transfers are safe and cheap.
Duration: Send Money from Canada to Russia
The time your recipient will receive the money varies, some may take less than a day, while other remittances can take up to three days.
- Fees can range from $5.99, where the recipient can get hold of the money in less than 24 hours. For any inconsistencies, it may take 2-days before the money is processed completely.
- Some rates can go up above $10, and yet the duration can take a day up to three days.
- Sometimes some may cost you more since this is sending money to Russia.
Sending money to Russia costs more than sending money to different parts of the world.
There is also a big difference between sending money using a bank transfer and from using a certain money transfer company.
There are traditional methods you can use since these methods can offer it at a cheaper price, and they can do the sending faster than other methods.
There are 3-options you can use to send money to Russia, and these are via money transfer services, cash transfers, by using any bank that has a branch from the country of origin to the host country – in this case, it is Russia.
Transfer money from Canada to Russia with the bank
Sending money using a bank transfer may not be the smartest thing to do when you are sending money to Russia. This is more true if you are sending just a small sum of money. The bank charges higher both from the issuing bank and the receiving bank in Russia. Yes, it is safe most especially if you are using a reputable bank to do the transaction.
It may be too expensive for you though, more so if you are going to do this by schedule or more frequent.
Transfer money to Russia with a money transfer provider
Traditional methods are available for sending money to Russia from Canada. This method will give you a preference since they have an extensive network and offices around the globe. They also offer a good exchange rate for your money, so even if you are to pay a bit to send money to Russia, you are getting more when it comes to the exchange rate.
There are online payment services as well, although you need to double-check first cause it will cost you as they also charge a fee, another issue that you need to be wary of is the exchange rate as some online payment services have a low exchange rate.
Then there is a peer-to-peer or P2P money transfer service. They require a low commission, and they apply the actual exchange rate, which is the real-time rate.
Some senders find this the most suited for them as they find it cheaper and the process is easy. There is not much required for the sender to complete the transaction online. Another positive edge by using this money transfer is that you can pay using your card with no extras you need to pay.
So if you are to use a bank to transfer, it will cost you more, and the exchange rate is low.
The traditional method, on the other hand, will also charge you a bit of the process of sending your money, but they will give you a good exchange rate.
Russia may have a different take on money received from other countries, they have their restrictions that are strictly followed. When you need to send money to Russia, you should know your options first and which company will be able to do it safely and legally. Some banks can process the money transfer, but be ready to pay more when you require the bank’s services.