Need to send money to Russia? Thinking about a bank wire to transfer the money to Russia? Before you go your bank to do it, be sure to check the wire transfer fees. You might get a shock how much the costs will be and depending on the dollar amount, it might be better to forward the money by other methods.
What makes worse is in addition to your financial institution charging a fee for sending the money to a place in Russia, the individual getting the transfer will probably incur a fee from the bank at their end. A way to minimise the likelihood of the charge is to send the international wire transfer in their designated currency.
To make a bank wire transfer to Russia, you will possibly need a SWIFT code. These are different for each bank and are based on a number of things such as the bank and country.
SWIFT Country Code
Central Bank Name
Central Bank of the Russian Federation