What do Russian sanctions mean for my money transfers?

By Maria Gil · · 1 min read
Fact Checked
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The current climate of uncertainty in Europe is making international money a bit tricky. But how does the conflict affect us here in Australia?

If you're routinely sending money to that region then you might run into some issues. For example, PayPal shut down its services in Russia and many Russian banks are barred from SWIFT .

For those who don’t know, SWIFT is the messaging system banks use to facilitate money transfers worldwide. Without a SWIFT, you can't receive or send money to specific bank accounts.

Other companies who have suspended any sort of money transfers to Russia include (this is not an extensive list):

  • Wise
  • Western Union
  • Visa
  • Mastercard
  • Amex
  • Apple Pay
  • Google Pay

If you do find yourself needing to send money to Russia, you’ll need to double-check with the money transmitter to confirm that it's still making ruble transactions or continuing its services in Russia.

Transfers to other countries

If you're looking to send money to countries other than Russia, you can check out our international money transfer comparison table below to find a money transfer service that could best work for your needs.