PayPal changes conditions for Ukrainians: what to expect in July

In early March, the international debit electronic payment system PayPal began its work in Ukraine. The world uses it for purchases and money transfers on the Internet, these services are also available for Ukrainians. But recently there was information that the service will be available in Ukraine only until the end of June.

Minister of Digital Transformation Mykhailo Fedorov told in an interview with Economic Truth what changes Ukrainians are actually waiting for in using PayPal.

Changes apply only to the commission

In March, there were rumors that PayPal accounts would accept money until June 30th. This was explained by the fact that the banking license for the operation of the system in Ukraine is temporary. However, Fedorov denied this information.

“We made an official request to PayPal, and they did not confirm this information. This concerns a purely commission (for a transaction and withdrawing money from an account to a bank card – ed.)”, the minister explained.

So far, there are no commissions for Ukrainians. However after June 30, our users will see the regular commission for all clients. In this case, the service will not be closed.

Fedorov added that Ukraine already has plans to cooperate with PayPal in the future. The Minister recently spoke with Dan Schulman, CEO of PayPal, in Davos.

“We talked with him, and I asked him that legal entities also have the opportunity to use PayPal. So that our online stores, our manufacturers can sell to the whole world, accepting money on PayPal”, Fedorov said.

How to send or receive an international transfer

Earlier, “Today” was told that there are at least 6 services through which you can send money or receive it from abroad.

An example of one of these is Western Union. The payment system allows you to make both transfers within Ukraine and international ones. You can send money in dollars, euros and hryvnia (in Ukraine).

But the tariffs depend on the country to which the client makes the transfer:

• neighboring countries (from 25 to 150 UAH);
• non-CIS countries, Israel (from 25 UAH to several thousand);
• Turkey (UAH 350 – about UAH 1,400);
• China, UAE (up to 600 UAH).

However, almost all payment systems canceled fees for transfers from abroad to Ukraine during martial law.

Read in our analysis what other services for international transfers are.

We also talked about what is happening with deposits in Ukraine, how to make a deposit, and when the NBU will release the official dollar rate.