The reasons for sending money to Russia differ from person to person. Most people choose to send money to family who are in need of financial support. Others may be sending money to students who are studying in Russian Universities. Yet another reason is to offer funding to small business ventures that are developing in Russia. Regardless of the motive, using a reloadable debit card to send money to Russia gives you: affordability, ease of access to money, and swift delivery of funds.

Cost of Using a Re-Loadable Debit Card

When transferring money to Russia cost is a major concern. Using the example of a 1000 USD transfer will help us to better understand the importance of cutting high fees out of your transaction. A company that offers re-loadable debit cards charges 5 USD per each transfer. This means that when sending 1000 USD you will be adding on an additional 0.5% to the total amount you send. Comparably, Bank Of America charges 45 USD for a wire transfer to a Russian Bank. This means that instead of paying.5% you will be paying an additional 4.5% to transfer your funds.

Accessibility to ATM Machines

When making a money transfer via a reloadable debit card your funds will arrive in Russia in the form of a VISA debit card. The intended recipient will then be able to go to any ATM machine that accepts VISA cards to withdraw the money. Since Russia has the fastest growing ATM market in Europe there will be many ATM machines available to choose from. In fact there are over 137,000 ATM’s in Russia. This number is expected to keep growing in the next few years. The number of bank cards in Russia is predicted to grow 14% per year through 2013. The growing amount of bank cards will create an even higher supply of ATM machines. This means that instead of having to enter a bank and wait in line to withdraw the money, your recipient will be able to quickly find an ATM machine to withdraw their funds

Speed of Delivery

Another advantage that a re-loadable debit card offers is close to instantaneous transfer times. The first time you make a money transfer your recipient will have to wait between 3-7 business days for the card to arrive in Russia via Federal Express. However, after the card has arrived, each subsequent transfer can be made in under a minute. For example a student studying at St. Petersburg University can call their parents in Los Angeles and tell them that they are at the University book store and that they need money to buy books. The parent can then make a transfer online and within a matter of seconds the money will be available for the student to make their purchase.

Amount of Money to Send to Russia

Now that you know the best way to send money to Russia you need to decide on the amount you would like to transfer. Knowing the average prices of common goods in the country will help you get a better feel for what your money will help your recipient attain. The following is a list of average prices in Russia in the local currency or Russian Ruble (RUB).

• Liter of Milk-30 Rub
• Load of Bread- 15-20 RUB
• Pint of beer - 25-30 RUB
• 750 ml of Vodka - from 100 RUB
• Bus ride within city limits: Between 10-25 RUB
• Renting a studio: Between 5.000 - 7.000 RUB per month
• Renting a studio in Moscow or St. Petersburg. Between 10,000-15000 RUB per month

This information should allow you to estimate how much money to include in every money transfer you make.

Affordable prices, convenience and instantaneous delivery times make sending money to Russia on a reloadable debit card a great option.

Oded Porat is a writer who strives to inform people about the most efficient ways to conduct business on the internet. To learn more about how you can send money to Russia visit the ATMCASH website.

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