Transfer Money to Russia

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About Money Transfers to Russia

Whether you are undertaking a work placement in Moscow or sending money to relatives in Saint Petersburg, you will want to maximise your money saving and find the best exchange rates. By sing our simple currency comparison tool, you can find the best deal developed to suit your needs and requisites for your money transfer to Russia.

We have helped thousands of people find the most equitable rates when transferring Ruble to Russia as we focus solely on currency transfer, unlike banks, which offer very low and unfair rates. Our specialist knowledge and reputable currency brokers will ensure that you receive the outstanding service you deserve when transferring money to Russia.

Last updated: May 08, 2014 Our methodology

Quick Facts: Russia

Key information for sending money to Russia

Transfer Speed
1 working day
Local Currency
RUB
Income Tax Rate
13-30%
Avg. Property Price/m²
82,040.18 RUB
Avg. Monthly Rent (3 bed)
49,494.31 RUB
IBAN Required
No

Money Saving Tips for Russia

Expert advice for your international transfer

There are no restrictions on foreigners purchasing property in Russia however prices are amongst the highest in Europe.

The use of a solicitor when buying property is crucial as they can help ensure that the buyer is adequately informed.

Saint Petersburg is the hot spot for expats seeking work, home to some of the best business and employment possibilities in the Nation.

Not many expats purchase property in Russia however, the current economic climate makes it an ideal time to invest in Moscow properties.

What You Need to Send Money to Russia

Checklist of recipient bank details required

Routing Number e.g.
Bank routing number
SWIFT/BIC Code e.g. BANKRUXX
Bank identifier for international transfers
Account Number
Recipient's bank account number
Account Holder's Name
Full name as it appears on the bank account

Popular Banks in Russia

Sberbank VTB Gazprombank Russian Agricultural Bank VTB24 Bank of Moscow

"When sending money to Russia, always compare multiple providers. The exchange rate is important, but don't forget to factor in transfer fees and delivery times. For larger amounts, even small rate differences can translate to significant savings."

— MyCurrencyTransfer Editorial Team

Frequently Asked Questions

Common questions about sending money to Russia

What is the cheapest way to send money to Russia?

The cheapest way to send money to Russia depends on your transfer amount. For larger transfers (over £1,000), specialist providers like Wise or OFX typically offer better rates than banks. Compare providers above to see which offers the best deal for your specific amount.

How long does it take to transfer money to Russia?

Most transfers to Russia are completed within 1-3 working days. Some providers offer same-day or next-day delivery for an additional fee. The exact time depends on the provider, payment method, and whether the recipient's bank processes weekend transfers.

What information do I need to send money to Russia?

You'll typically need: the recipient's full name (as it appears on their bank account), their bank account number, the bank's SWIFT/BIC code, and for some countries an IBAN. You may also need the recipient's address and the bank's name and address.

Are money transfer services safe to use?

Yes, the providers we compare are regulated by the Financial Conduct Authority (FCA) or equivalent regulators. They must keep your money in segregated accounts and follow strict anti-money laundering procedures. Always check a provider's regulatory status before sending money.

Should I use my bank to send money to Russia?

Banks are generally more expensive for international transfers due to higher exchange rate margins and fees. Specialist money transfer providers typically offer rates 2-4% better than banks. Use our comparison to see how much you could save.

How to Transfer Money to Russia

  1. Compare providers

    Use the comparison table above to find the best exchange rate and lowest fees for your transfer amount.

  2. Create an account

    Click through to your chosen provider and register for a free account. You'll need your email address and basic personal details.

  3. Verify your identity

    Upload ID documents as required (passport, driving licence, or national ID). Most providers verify within 1-2 business days.

  4. Enter recipient details

    Add your recipient's bank account details including their name, account number, and SWIFT/BIC code.

  5. Fund and track your transfer

    Pay by bank transfer or debit card, then track your money until it arrives. Most transfers complete within 1-3 working days.