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According to tariffs from the 2024 review: fee comparison of 10 banks for money transfers to Ukraine
Choosing a bank for international transfers to Ukraine is not only a matter of convenience, but also of cost savings. With a variety of banking institutions offering different fees and terms, it is important to understand where you can save the most money. In this review, we analyze the fees of Ukrainian banks to identify the most advantageous options for sending money from abroad, paying attention to hidden charges and exchange rates that can significantly impact the final amount.
PrivatBank: Fees and Terms
PrivatBank: "A Bank for Everyone"
PrivatBank is Ukraine's largest commercial bank. According to the 2024 review: it has more than 1,000 branches, 5,000 ATMs, and 10,000 self-service terminals across the country. According to the 2024 review: more than 19 million Ukrainian citizens use the bank's services annually, with about 13 million using the Privat24 mobile app. PrivatBank also has one of the largest partnership networks in Ukraine for international money transfers to Ukraine: SWIFT, SEPA, Western Union, Ria, MoneyGram, IntelExpress, Payoneer, Welsend, Sigue, TransferGo, Wise, and others.
From a foreign bank card to a PrivatBank card
Hryvnia cards:
According to tariffs from the 2024 review: Card for Payouts: incoming transfer fee is 0.5%.
According to tariffs from the 2024 review: Universal Card and Internet Card: incoming transfer fee is 0%.
Foreign currency cards:
According to tariffs from the 2024 review: any foreign currency card: incoming transfer fee is 2%.
Top-up via SWIFT transfer:
Hryvnia accounts:
According to tariffs from the 2024 review: Card for Payouts and Internet Card — 0% fee.
According to tariffs from the 2024 review: Universal Card — also 0%.
Foreign currency accounts:
According to tariffs from the 2024 review: Card for Payouts and Internet Card — 1% fee.
According to tariffs from the 2024 review: Universal Card — 0%.
Monobank: Terms and Fees
Monobank: "A Bank in Your Smartphone"
Monobank is an innovative Ukrainian neobank (mobile bank) that launched in 2017 and quickly gained popularity thanks to its user-friendly and intuitive mobile app. In monobank's history, reaching 10 million customers was recorded. It operates without physical branches, entirely through a mobile app. Monobank also has many partners for cross-border money transfers: SWIFT, SEPA, Western Union, MoneyGram, Ria, Payoneer, TransferGo, Wise, and others.
Topping up a Monobank card:
According to tariffs from the 2024 review: top-up on request from a foreign bank card: fee is 1.8% of the transfer amount.
According to tariffs from the 2024 review: top-up of "Jar" (savings pot) from a foreign bank card: fee is 2%.
Top-up via SWIFT: no fee.
Oschadbank: Fees and Terms
Oschadbank: "Your Financial Assistant"
Oschadbank confidently holds a position as one of Ukraine's leading banks, possessing the country's second-largest asset volume. According to the 2024 review: the bank's network includes more than 1,000 branches, an extensive ATM network of 2,800 devices, and 2,500 payment terminals. According to the 2024 review: the bank has issued over 11.5 million cards, of which more than 6 million are active. For international transfers, the bank has entered into partnership agreements with prominent providers such as SWIFT, Western Union, MoneyGram, RIA, and Intel Express.
Top-up via SWIFT:
According to tariffs from the 2024 review: payout of a SWIFT transfer to an active card account — 0%.
According to tariffs from the 2024 review: payout of transfers received via SWIFT from abroad without opening an account — 1% of the transfer amount + min. 5 USD (equivalent in UAH).
A-Bank: Fees and Terms
A-Bank: "A Bank for Every Day"
A-Bank (prior to 2007, Ukrainian Credit Bank, or UCB) is one of Ukraine's oldest banks, having begun operations back in 1992. According to the 2024 review: more than 3.1 million customers use the bank's services. It does not have very many branches, but A-Bank has well-developed consumer lending services. And, naturally, the bank provides cross-border transfer services. Transfers can be received at A-Bank via SEPA, Western Union, MoneyGram, Ria, IntelExpress, Welsend, SWIFT, and P2P.
From a foreign bank card to an A-Bank card:
Check the current incoming transfer tariff for your selected banking product; an old generic promise of no commission does not replace the official tariff.
Top-up via SWIFT:
According to tariffs from the 2024 review: "Zhovta", "Virtual Debit", "Children's", "Pension", and "ePidtrymka" cards — 0%.
Raiffeisen Bank: Fees and Terms
Raiffeisen Bank: "Best Bank in Ukraine"
The bank began operations on March 27, 1992, under the name "Aval". Years later, in October 2005, it became part of Raiffeisen International Bank-Holding AG. Following this, the bank underwent two name changes: first becoming known as "Raiffeisen Bank Aval", and later transitioning to "Raiffeisen Bank". In its history, the bank has received numerous awards, including being recognized as "Best Bank in Ukraine" and earning a reputation as "Most Reliable Bank in Ukraine". In international financial transactions, the bank offers services via Western Union, Meest, and Raiffeisen Express, ensuring reliable and convenient cross-border transfers.
From a foreign bank card to a Raiffeisen Bank card:
Check the current incoming transfer tariff for your selected banking product; an old generic promise of no commission does not replace the official tariff.
Top-up via SWIFT:
Check the current incoming transfer tariff for your selected banking product; an old generic promise of no commission does not replace the official tariff.
Universal Bank: Fees and Terms
Universal Bank: "A Bank of Your Opportunities"
Universal Bank is a moderately sized yet influential bank that began operations in 1994. It gained widespread prominence through its collaboration with Dmytro Dubilet and Fintech Band in creating Monobank. According to the 2024 review: Universal Bank is part of the TAC Group and has only 13 branches in Ukraine. The bank stands out for its reliability, stability, and premium service quality, regularly earning high scores from international rating agencies and being recognized as one of the most reliable banking institutions in Ukraine.
For international transactions, Universal Bank uses SWIFT, Western Union, MoneyGram, and Ria, and also provides transfer options via Visa and Mastercard.
From a foreign bank card to a Universal Bank card:
Check the current incoming transfer tariff for your selected banking product; an old generic promise of no commission does not replace the official tariff.
Top-up via SWIFT:
According to tariffs from the 2024 review: the bank charges 1% of the payment amount.
Ukrsibbank: Fees and Terms
Ukrsibbank: "Your Reliable Partner"
UKRSIBBANK, also known as BNP Paribas Ukraine, has established itself as one of the leading financial institutions in the Ukrainian market. Founded in 1990, the bank is now part of the world-renowned BNP Paribas Group. According to the 2024 review: UKRSIBBANK's network includes over 200 branches and approximately 1,000 ATMs, providing broad access to banking services across the country. In 2023, the bank was recognized in the Forbes Ukraine top 50 employers ranking and named "Most Resilient Bank" based on evaluations by FinAwards and Dragon Capital, reinforcing its reputation as a reliable and stable financial partner.
From a foreign bank card to a Ukrsibbank card:
Not supported.
Top-up via SWIFT:
Check the current incoming transfer tariff for your selected banking product; an old generic promise of no commission does not replace the official tariff.
Sense Bank: Fees and Terms
Sense Bank: "A Bank for Life"
Sense Bank, formerly known as Alfa-Bank Ukraine, was one of Ukraine's largest banks prior to 2022. Founded in 1992, the bank operated under the Alfa-Bank name for a long time. In 2022, it changed its name to Sense Bank, and in 2023, it was nationalized due to sanctions. Despite this, Sense Bank continues to operate and provide services to clients. Overall, Sense Bank remains an important player in the Ukrainian banking market. For transfers, it uses SWIFT.
From a foreign bank card to a Sense Bank card:
According to tariffs from the 2024 review: the bank charges 1% of the transfer amount + min. 80 UAH or 2 USD or 2 EUR.
Top-up via SWIFT:
Check the current incoming transfer tariff for your selected banking product; an old generic promise of no commission does not replace the official tariff.
FUIB: Fees and Terms
FUIB: "Your Best Choice"
Established in 1991, FUIB (First Ukrainian International Bank) is today one of Ukraine's leading financial institutions. According to the 2024 review: it has 200 branches and serves 1.7 million customers. FUIB focuses on consumer lending and online services, providing convenient web services and a mobile app. In addition, the bank offers a broad range of deposit products and money transfers tailored to customer needs. In particular, FUIB partners with SWIFT, SEPA, Western Union, and many others.
From a foreign bank card to a FUIB card:
Check the current incoming transfer tariff for your selected banking product; an old generic promise of no commission does not replace the official tariff.
Top-up via SWIFT:
Check the current incoming transfer tariff for your selected banking product; an old generic promise of no commission does not replace the official tariff.
OTP Bank: Fees and Terms
OTP Bank: "A Bank for Everyone"
OTP Bank has been on the market since 1998. Originally called "Raiffeisenbank Ukraine", it was acquired in 2006 by the Hungarian bank OTP Bank (13 million customers across more than 1,500 branches) and renamed OTP Bank Ukraine. According to the 2024 review: in Ukraine, OTP has only 70 branches and just over 300,000 customers. For international transfers, OTP offers its proprietary OTP Express system, which allows fast and convenient payments in EUR, USD, and Hungarian Forints (HUF) if the counterparty (transfer recipient) holds an account with one of the OTP Group banks. The bank also collaborates with SWIFT, Western Union, and MoneyGram for transfers between clients outside OTP Express.
From a foreign bank card to an OTP Bank card:
Check the current incoming transfer tariff for your selected banking product; an old generic promise of no commission does not replace the official tariff.
Top-up via SWIFT:
According to tariffs from the 2024 review: 0.5% of the transfer amount.
Conclusion
The best terms for receiving transfers from abroad are offered by Monobank. Good terms are also available at PrivatBank, A-Bank, FUIB, and Raiffeisen Bank, though some have a less developed digital infrastructure or a narrower selection of other services. If you want to receive money without opening an account or issuing a card, Oschadbank is the better option.