Having friends, relatives, or employees from other countries is a common thing for many people. Many people in the USA and Europe have a lot of connections with Russian people. However, when they need to send money to Russia, they always face a lot of challenges, especially when they want to do everything fast.
Today, we are going to show you the main issues you might face while sending money to Russia.
Table of Contents
Delays Will Always Be With You
When you decide that it is time to send money to your friend or employee from Russia, you have to be aware that it might take a really long time to complete the transaction.
In fact, everything depends on the banking services your mates from Russia use, but in most cases, the delays in sending money might take about a week or two. For this reason, if you know that your contact needs money on a certain day, you should think about it in advance.
However, if you are using the same banking application, you will be able to send money nearly immediately, which would be much more convenient for you.
Horrible Commissions While Working With Russian Banks
Sending money to Russia would be much more expensive than you think. The main reason is commission. Nowadays, Russian banks have provided a horrible commission system that is really harmful for international money transfers.
For example, they can take up to $200 for a simple transaction. If the amount of money sent is lower, they will just take 100% of it. That is horrible. If you are paying $150 for some services, you have to take care that the bank your recipient uses would not take it all.
However, these issues might be fixed by using a similar application. It would provide a minor commission that might be only 1% of the whole transaction, and it would be taken only for converting your dollars into rubles.
Inconvenient Russian Services: What About Additional Accounts?
Additional accounts are one of the most common things in Russian banking. Many modern Russian banks provide their users with some extra accounts, such as keeping ones. They just take a part of the transaction and store it somewhere, common users cannot reach it.
And that creates a lot of problems, especially when you are working with someone from Russia. Usually, the existence of such an account is a secret for users, and they think that their employer sent less money than is needed. For this reason, ask your employee to check everything out to make sure that all the money was received.
Why Are These Facts Essential For Users?
People who send money to Russia might recognize that this is not a simple process, but a real labyrinth, full of various traps. However, when you are aware of these issues, you will find more ways to overcome them.
And the best one is to use simple and convenient services that are focused on the creation of beneficial conditions for both sides of the transaction.