The international payment system PayPal has made cross-border transfers available for citizens of Ukraine. Transfer of funds is only available from the USA and only unilaterally.
Cross-border transfers from the USA are now available in Ukraine. Enthusiasts are confident that the launch of the Xoom service in the country is the beginning on the path to the full launch of PayPal.
Xoom is a separate international money transfer service that PayPal acquired in 2015. Previously, Ukraine was not listed among the countries with which Xoom worked. Today, Xoom has expanded its capabilities and covers 130 countries, among which Ukraine has finally appeared. Funds can be transferred using the Internet or mobile phone.
Even though Xoom is a subsidiary of PayPal, it is a completely separate service, and there is no option on the site to choose how to send money through PayPal. The Xoom service is not a business system and is intended for limited personal transfers from loved ones and family. On the one hand, documents confirming family ties are not required for translation, but on the other hand, these are personal translations, not intended for businesses and freelancers. This is rather support for the Ukrainian “workers” who have scattered all over the world in recent years. According to the NBU’s conservative estimates, they pump about $9 billion into the country’s economy annually.
The service also makes it possible for relatives from the United States to pay the bill or balance of a Ukrainian’s mobile phone. Using Xoom you can send funds to Ukraine, but vice versa - you cannot.
Cash Pickup service has been launched to receive funds in Ukraine. Through it, the recipient can withdraw funds from one of the banks listed on the Xoom website. Now this list consists of five banks: Oschadbank, Privatbank, Universal, Pravex, Ukrgasbank.
Transfer limits in the system are limited. Up to $2999 is available for shipping, but not more than $6 thousand in 30 days. If absolutely necessary, you can increase the transfer limit. To do this, fill out a form on the website and provide an additional package of documents upon request.
Xoom is not quite PayPal yet, but it is a convenient service for receiving funds from the USA. Especially considering the three-year attempts to establish the operation of the international payment system in the country and the growing need of citizens for a system of international transfers.
According to https://news.xoom.com
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