Transferring money from Canada to Ukraine remains an important need for thousands of Ukrainians living in Edmonton who support their families back home. Modern technology has made international money transfers much more accessible, faster, and cheaper than traditional banking methods. In 2026, there are many services on the market that offer different combinations of delivery speed, cost, convenience, and reliability. Understanding the advantages and disadvantages of each will help you choose the best solution for your specific needs.
Key criteria for choosing a transfer service
Before choosing a specific service, it is important to understand the key factors that influence your choice. The exchange rate plays a critical role in determining how many hryvnia the recipient in Ukraine will receive. As of January 2026, the CAD to UAH exchange rate fluctuates between 30.65 and 31.18 hryvnia per Canadian dollar. Most services add a margin to the interbank rate, which can range from 0.3% to 5% depending on the provider.
Transfer fees also vary significantly. Some services charge a fixed fee regardless of the amount (e.g., $2.99-3.00 CAD), while others use interest rates or offer free transfers under certain conditions. The speed of delivery varies from a few minutes to 5 business days, depending on the method and service chosen. Methods of receiving money in Ukraine include direct transfer to a bank card, cash through partner locations, home delivery, or transfer to a bank account via SWIFT/IBAN.
New generation online platforms
RemitBee
RemitBee stands out as one of the most competitive options for transfers from Canada to Ukraine, especially for Edmonton residents. This Canadian service, founded by immigrants, is specifically designed for the needs of the diaspora and offers clear advantages.
RemitBee's fee structure is transparent and affordable. For transfers over $500 CAD, the platform does not charge any fees for the transaction itself. For amounts under $500 CAD, the fee depends on the payment method: Interac e-Transfer costs $2.99, electronic funds transfer (EFT) also costs $2.99, and debit card payments can cost between $2.99 and $8.99 or more, depending on the amount.
RemitBee's exchange rate is competitive. As of early 2026, the service offers a CAD/UAH rate of around 30.53, which is one of the best on the market. This means that when transferring $1,000 CAD, the recipient in Ukraine will receive approximately 30,530 hryvnia after all fees are taken into account.
RemitBee offers several methods of receiving funds in Ukraine. The main method is a direct transfer to a bank card or account at partner banks, including Universal Bank and other Ukrainian financial institutions. Most transfers are credited within 24-72 hours after receiving payment from the sender. The platform uses 256-bit encryption, two-factor authentication, and is fully compliant with FINTRAC (Financial Transactions and Reports Analysis Centre of Canada) requirements.
Wise (formerly TransferWise)
Wise is deservedly considered one of the most transparent services for international transfers thanks to its use of the real interbank exchange rate without additional margins. This is a key difference from most competitors, who earn money on the difference in exchange rates.
Wise's fee structure consists of two components: a fixed fee (usually $1-3 CAD for major currencies) and a variable fee (usually 0.4-2.5% of the transfer amount). To transfer $1000 CAD to Ukraine, the total fee is approximately $74.46 CAD, which includes both the fixed and variable parts. Wise's exchange rate as of January 2026 is approximately 30.53 CAD/UAH, which corresponds to the interbank rate.
Wise operates on a unique principle: instead of physically moving money across borders, the service uses local accounts in different countries. When you send dollars to Ukraine, the money is credited to Wise's US account, and the recipient receives hryvnia from Wise's Ukrainian account. This speeds up the process and reduces costs. Transfers usually take from a few minutes to 2-3 days, depending on the delivery speed you choose.
Wise supports receiving funds via SWIFT and IBAN transfer directly to a bank account in Ukraine. The platform also offers a multi-currency account that allows you to store money in over 40 currencies and receive local bank details for 9 currencies.
TransferGo
TransferGo specializes in fast transfers and offers several delivery speed options at different prices. The service operates in over 170 countries worldwide and has positive user reviews, especially for transfers to Ukraine.
The platform offers three speed options: “Instant” (funds arrive within 30 minutes, usually 2-3 minutes), ‘Standard’ (within one business day), and “Economy” (several days, but with a lower commission). The transfer limit to Ukraine is approximately $2,500 USD (or equivalent) per transfer.
Users particularly note the convenience of TransferGo for transfers from European countries to Ukraine, where the transfer can take place in just a few minutes. The platform is regulated by financial authorities in various countries and has over 35,000 verified reviews on Trustpilot with an overall rating of 4.7 out of 5.
Paysend
Paysend positions itself as a service with a fixed and transparent commission of only CAD 3 per transfer, regardless of the amount. This makes the platform particularly attractive for small transfers, where a fixed commission is more advantageous than a percentage-based one.
The service allows you to transfer funds directly to Visa or Mastercard cards in Ukraine, as well as to bank accounts. Transfers are usually processed on the same day, although in some cases they can take up to 3 business days depending on the recipient's bank processing time.
It is important to note that although Paysend advertises a fixed fee, the service earns money on the exchange rate by adding a margin to the interbank rate. This margin is not always clearly stated in advance, so the actual cost of the transfer may be higher than it seems at first glance. Some users also report a lengthy verification process and delays in processing transfers.
Traditional international money transfer systems
Western Union
Western Union remains one of the best-known and oldest money transfer services in the world, with a huge network of partner locations. In Ukraine, Western Union operates through numerous branches, banks, and partner locations in Kyiv, Kharkiv, Odesa, and other cities.
Western Union's commission depends on the transfer amount, payment method, and receipt method. To transfer $1,000 CAD from Canada to Ukraine, the commission can be $25 CAD or more when paying with a debit card. Added to this is a margin on the exchange rate, which is usually 2-4% of the interbank rate. This makes Western Union one of the most expensive options compared to new online platforms.
The main advantage of Western Union is the ability to receive cash in virtually any corner of Ukraine within minutes of sending. To receive the funds, the recipient only needs a valid ID and the transfer tracking number (MTCN). This makes the service convenient for those who do not have bank cards or need immediate access to cash.
MoneyGram
MoneyGram is the second-largest money transfer provider in the world, with a network of over 350,000 agents in 200 countries. In Canada, the service is available online, via a mobile app, or at physical locations.
MoneyGram's pricing is similar to Western Union's — fees and exchange rates depend on many factors. The service offers several delivery speed options: instant (within minutes), next day (about one business day), and standard (several business days). Faster options are more expensive.
The transfer limit for most countries, including Canada, is $10,000 USD every 30 calendar days. If you need to send more, MoneyGram partners with Walmart locations where you can make additional transfers in person.
Users appreciate MoneyGram for its reliability, extensive network, and the ability to send money both online and through physical locations. The platform uses advanced security, encryption, and fraud protection technologies to ensure transaction security.
Xoom (PayPal service)
Xoom is a money transfer service owned by PayPal that allows you to send funds from Canada to Ukraine online or through the app. Recipients can receive cash at partner banks, including Oschadbank, PrivatBank, and Ukrgasbank.
The main advantage of Xoom is its integration with the PayPal ecosystem, which makes it easy to pay for transfers via your PayPal account, bank account, credit or debit card. The platform promises competitive exchange rates, although exact fees and rates may vary depending on the amount and payment method.
It is important to note that PayPal's full functionality is limited in Ukraine. Ukrainian users can receive transfers through the “Friends and Family” feature, but cannot use all of the service's features due to regulatory restrictions. PayPal has temporarily waived fees for Ukrainian accounts until March 31, 2025, although exchange rates and third-party fees may still apply.
Specialized services for the Ukrainian diaspora
Meest
Meest is a special option for the Ukrainian diaspora in Canada, as the company specializes in serving the Ukrainian community and offers not only money transfers but also parcel delivery services.
Meest's money transfer rates depend on the amount and are the same across Canada. For transfers via PrivatBank or home delivery, the structure is as follows: $6 CAD for amounts of $10-100, $10 CAD for $101-200, $12 CAD for $201-300, and so on, increasing to 2% for amounts over $1000. These fees are relatively high compared to online platforms, but they include an additional benefit — the ability to deliver cash directly to the recipient's home in Ukraine.
Meest offers three ways to send money: through a bank (deposit to an account at PrivatBank, Raiffeisen Bank, or through the Privat24 system), home delivery of cash, and transfers in three currencies (Canadian dollars, US dollars, or Ukrainian hryvnia). The ability to deliver money directly to the recipient's home is a unique advantage, especially for the elderly or those living in rural areas without easy access to banks.
There are Meest offices in Edmonton where you can make a transfer in person, or you can do it online through the Meest portal. The company has a long history of serving the Ukrainian community and is trusted among the diaspora thanks to its cultural understanding and support in the native language.
Remitly
Remitly is an international money transfer service from the US that operates in Canada and allows you to send funds to over 40 countries, including Ukraine. The platform offers two service levels: “Express” for faster transfers and “Economy” for more affordable options.
Remitly's fees and exchange rates depend on the service level you choose. For the ‘Economy’ rate, the CAD/UAH exchange rate is around 30.04, while for “Express” the rate may be slightly lower. The total cost of transferring $1,000 CAD through Remitly can be around $183.18 CAD, making it significantly more expensive than Wise or RemitBee.
Remitly's advantages include the ability to choose the delivery speed, support for various receipt methods (bank transfer, cash pickup, home delivery, mobile wallets), and availability in many countries. However, higher fees and worse exchange rates make the service less competitive for transfers from Canada to Ukraine compared to other options.
Banking options
Ukrainian Credit Union (UCU)
Ukrainian Credit Union in Ontario offers specialized banking services for the Ukrainian community, including international money transfers. UCU has a special “Welcome Ukraine” package for new Ukrainian immigrants, which includes free savings and checking accounts for three years, as well as free money transfers to family or friends in Ukraine.
To send an international bank transfer from UCU to Ukraine, you need to visit your local credit union branch with the following information: the recipient's full name and address, account number, bank name and full address, institution number, SWIFT/BIC/IBAN code, and routing number. The process is more complicated than online platforms, but it offers additional security and personalized service.
UCU also offers Ukrainian-language support, financial seminars, and financial literacy programs for newcomers, making the credit union a valuable resource for the Ukrainian community in Canada. Although UCU is based in Ontario, their services may be useful for Edmonton residents looking for specialized services for the Ukrainian community.
Traditional Canadian Banks (SWIFT Transfers)
All major Canadian banks, including RBC, TD, CIBC, Scotiabank, and BMO, offer international bank transfers through the SWIFT system. These transfers are secure and reliable, but they are typically much more expensive than online alternatives.
Fees for outgoing international SWIFT transfers at Canadian banks typically range from $30 to $80 CAD, depending on the bank, the amount, and the method of transfer. CIBC charges $30 CAD for transfers up to $10,000, $50 CAD for transfers between $10,000.01 and $50,000, and $80 CAD for transfers over $50,000. RBC charges from $45 CAD for international transfers from a Canadian dollar account.
A margin is added to the exchange rate on top of the direct fees. Banks typically add 2-4% to the interbank rate, which can significantly increase the total cost of the transfer. For a transfer of $1,000 CAD, the total cost can be $36-62 CAD in fees plus hidden costs due to a worse exchange rate.
The advantages of bank SWIFT transfers include a high level of security, the ability to transfer large amounts (banks do not have upper limits like some online services), and personalized service. However, the process is usually slower (1-5 business days) and significantly more expensive compared to digital alternatives.
Scotiabank offers Scotia International Money Transfer with a $1.99 fee for most customers, although Ultimate Package customers and new immigrants can send funds for free. However, foreign exchange rates still apply, which can make the total cost higher than it appears.
Receiving funds in Ukraine
Understanding how receiving money works on the Ukrainian end is important for choosing the best service. Most modern Ukrainian banks support various methods of receiving international transfers.
PrivatBank
PrivatBank is Ukraine's largest bank and supports numerous international transfer systems, including PrivatMoney, Western Union, Ria, MoneyGram, Meest, and IntelExpress. The bank has a partnership with Canadian fintech company RemitBee for the PrivatMoney system, which provides fast and affordable transfers from Canada.
PrivatBank changed its rules for transfers from Canada in early 2024, making the first transfer up to CAD 250 through its new PrivatMoney partner free of charge. The minimum transfer amount is only $10, making the service accessible for transfers of any size.
Recipients can receive PrivatMoney transfers automatically to their bank card (if the sender has provided the recipient's card details), via the Privat24 website or mobile app with a control number, at ATMs, via self-service terminals, at bank branches, or through customer support.
PrivatBank also supports SWIFT transfers using the international IBAN account number. It is important to note that all international transfers received by Ukrainian citizens, regardless of the transfer method, are classified as income subject to personal income tax at a rate of 18% plus a 5% military levy.
Monobank
Monobank is a popular mobile bank in Ukraine, serving over 8 million customers. The bank supports sending and receiving international transfers in foreign currency through various systems, including SEPA, Ria, MoneyGram, Western Union, Payoneer, and SWIFT.
Monobank's fees are competitive: transfers between Monobank customers are free, transfers to credit cards are charged at 4%, and transfers to foreign bank cards are charged at 1% of the amount, but not less than $1 for debit cards and 4% for credit cards. For receiving a transfer from a foreign bank, the commission is 1.8% of the amount.
Monobank supports SWIFT transfers, which usually arrive within a day or the next day, although sometimes they can take up to 5 days if several intermediary banks were involved in the transfer. SWIFT can be received on both hryvnia and foreign currency cards.
The platform also supports SEPA transfers in euros from European countries, which usually arrive within a day or the next day. SEPA transfers can only be received on euro cards.
Other Ukrainian banks
Most major Ukrainian banks support international transfers through various systems. Raiffeisen Bank Aval, OschadBank, UkrGazBank, and other institutions work with Western Union, MoneyGram, Ria, and other fast transfer systems.
For SWIFT transfers, the recipient must provide the sender with the following information: the name of the recipient's bank, the SWIFT code of the recipient's bank, the account number or international IBAN account number, the recipient's first and last name and address, and the purpose of the payment. Some banks may also require details of the correspondent bank.
Restrictions and important details
Regulatory changes and service availability
It is important to note that the financial services landscape for Ukraine is constantly changing due to regulatory requirements. For example, Revolut, which was popular among Ukrainians, announced that it would close all accounts of Ukrainian residents as of February 22, 2026, due to the inability to obtain a license from the National Bank of Ukraine. This highlights the importance of using services that have clear regulatory approvals in both countries.
Xe Money Transfer, another popular platform, has also stopped providing transfer services to Ukraine and Belarus due to the situation in the region. This demonstrates that even large international services can suddenly change their policies regarding servicing certain countries.
Tax implications
All international money transfers received by Ukrainian citizens, regardless of the transfer method (deposit to a current account, including a card account, or cash), are classified as income subject to personal income tax. The Tax Code of Ukraine sets a tax rate of 18% on total annual taxable income. An additional 5% military tax is levied on such income.
This means that the recipient in Ukraine is technically required to pay 23% tax on the transfers received, although in practice the tax administration of these transfers may vary. It is important to consult with a tax professional regarding specific obligations.
Transfer limits
Different services have different limits on the maximum amount of a single transfer. TransferGo limits transfers to Ukraine to approximately $2,500 USD (or equivalent) per transfer. MoneyGram has a limit of $10,000 USD every 30 calendar days for most countries. Wise allows transfers of up to $1,000,000 USD per bank transfer.
There are also currency restrictions on the Ukrainian side. The National Bank of Ukraine sets limits on the receipt of foreign currency, which may change depending on the economic situation. At the time of writing, transfers of up to €200,000 per calendar year can be received without additional supporting documents via SWIFT.
Security and fraud protection
When choosing a transfer service, it is important to ensure that it has the appropriate licenses and is regulated by financial authorities. In Canada, legal money transfer services must be registered as a Money Services Business (MSB) with FINTRAC.
Use two-factor authentication where possible, never share your passwords or PIN codes, verify the recipient's identity before sending large amounts, and keep all transfer receipts. Most major services use 256-bit encryption to protect data.
Comparison table of major services
| Service | Commission | Exchange rate (CAD/UAH) | Speed | Methods of receipt |
|---|---|---|---|---|
| RemitBee | $0 for >$500, $2.99-8.99 for <$500 | ~30.53 | 24-72 hours | Bank, card |
| Wise | ~$74 for $1000 | ~30.53 (interbank) | Minutes-2 days | IBAN, SWIFT |
| Paysend | $3 fixed | Margin not specified | Same day-3 days | Card, bank |
| Western Union | From $25+ | Margin 2-4% | Minutes | Cash, bank |
| MoneyGram | Varies | Margin applies | Minutes-several days | Cash, bank |
| Meest | $6-$12+ or 2% | Varies | Several days | Bank, cash to home |
| TransferGo | Varies | Competitive | 30 min-1 day | Card, bank |
| SWIFT (bank) | $30-80 | Margin 2-4% | 1-5 days | Bank account |
Recommendations for different scenarios
Choosing the best service depends on your specific needs and priorities. For the lowest total cost on large transfers (over $500), RemitBee offers free transfers with a competitive exchange rate, making it one of the most cost-effective options. Wise is also an excellent choice thanks to its interbank rate with no margin, although the total fee may be slightly higher.
If speed is a priority and the recipient needs the money immediately, Western Union and MoneyGram deliver cash within minutes through their extensive network of pickup locations throughout Ukraine. TransferGo also offers instant transfers that arrive within 30 minutes.
For small amounts (less than $100), Paysend with a fixed fee of $3 may be the most cost-effective option, as the percentage fees of other services will be lower in absolute terms but higher relative to the amount. However, be sure to check the exchange rate, as hidden margins can reduce the benefits of low fees.
For seniors or those living in rural areas without easy access to banks, Meest, with its home cash delivery option, may be the most convenient option, despite higher fees. This is especially true for the Ukrainian diaspora, who value culturally oriented service and support in their native language.
For regular transfers of large amounts, consider opening a business account with services such as Wise Business or RemitBee Business, which offer better rates and higher limits for corporate clients. You can also consider creating a multi-currency account with Wise to store funds in different currencies and convert them at the interbank rate when needed.
Conclusion
Sending money from Edmonton to Ukraine has become much more affordable and diverse thanks to competition between numerous services. Traditional giants such as Western Union and MoneyGram maintain their positions thanks to their speed and extensive networks, but new-generation online platforms such as RemitBee, Wise, and TransferGo offer significantly better value and convenience for most use cases.
When choosing a service, it is important to consider not only the advertised commission, but also the total cost including the exchange rate, delivery speed, reliability, convenience for the recipient, and regulatory compliance. The best choice will depend on individual circumstances: the amount of the transfer, urgency, the recipient's capabilities, and personal preferences.
Regularly reviewing and comparing options can help save significant money over time, especially for those who send transfers regularly. Given the constant changes in the regulatory environment and competitive landscape, it is useful to stay informed about new options and changes to existing services.