Sending or transferring money to Russia can be done via a variety of methods. The safest money transfers are done through a bank or well-known independent wire-transfer service. Service fees apply, but the security and timely completion of your transfer are well worth the price.
Things You'll Need
- Recipient's name
- Bank name
- Account number
- International bank code (IBAN)
- SWIFT code
- Recipient's address
- Transfer fee
Choose a wire-transfer service or bank that offers online services, and find out what information they require to complete the money transfer.
Gather the information you will need for the transfer. For a bank transfer, you will need the Russian recipient's name, bank name, account number and international banking code, often called an IBAN. International banks might also have a SWIFT code. If the bank has both, include both.The fee will be taken directly out of your account, and another fee will usually be taken by the recipient's bank. In the case of an independent wire transfer, you will need the recipient's name, address, city and country of residence.
Enter the details on your online banking's wire-transfer page, specifying the account number from which you would like the money taken. Alternatively, pay online with a credit card if you have opted to use an independent wire service.
Write down the transfer number on the online wire-transfer form. The Russian citizen or business receiving the money must give the transfer service in their area the number you have given to them in order to receive the money. For banks, this is unnecessary. The money will appear in their bank account in the prescribed amount of time.
Remember to call the independent wire-transfer company to confirm the transaction. Banks, on the other hand, will send a confirmation e-mail to verify that the transfer has been completed.
Call or e-mail the Russian recipient to let them know when the money will arrive at the local wire-transfer service office or in their bank account.