Once OFX receives your funds, 80% of all major currency transfers are processed in 24 hours
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How to Send Money to Russia
- Gather the relevant banking information, including the name on the recipient’s bank account, the IBAN number, and the SWIFT/BIC code.
- Create a free online account with OFX, or login to get a live quote for your money transfer.
- Enter your details and those of your recipient.
- Choose ‘finalise transaction’ to process your payment.
It’s easy and affordable to send money to Russia using OFX. Even if you’re not ready to transfer funds today, you can sign up now, so your account is active and ready when a great exchange rate comes up.
When sending money to Russia, keep in mind that different tax regulations may apply to sending large sums of money overseas depending on many factors including:
- how the money is going to be used
- how much you are sending
- the source of the funds
- if the money has been taxed elsewhere
For example, supporting family members by paying for living expenses is usually considered different from sending large sums of money abroad as a gift. See our Guide to Sending Money to Family Abroad for more details.
How to send money to Russia at a great exchange rate
When looking at exchange rates, it’s important to know that the value of the (RUB) may be influenced by the country’s managed float monetary policy, which uses inflation targets and allows for a flexible response to unpredictable events that affect the economy. It could also be affected by the value of the EUR, as Russia's top trading partners include European countries. If you want to read up on the factors that influence the value of other currencies, head over to the Exchange Rates section of our site.
Russian Money Transfers – FAQs
Wondering how to send money to Russia? We've got the smart, secure way to exchange your U.K pounds for Russian rubles (RUB).
Is there any limit on how much money I can send to Russia?
Nyet. OFX works well for both businesses and individuals when transferring money to Russia from the United Kingdom
Can I send money from a Russian bank account to the U.K?
Unfortunately not. OFX can only send money to Russia at this time.
Can I send British pounds to Russia?
Does OFX transfer money to all Russian banks?
There are limitations in our ability to transfer to certain Russian banks. Please contact our customer service agents to discuss your money transfer.
What do I need to send money to Russia?
Once we have confirmed that we can make the transfer to your recipient’s bank, we will usually need you to provide additional documentation required by Russian law. Transfers may take up to 5 business days once OFX receives your funds.