Remittances to Ukraine Decreased: Which Countries Send the Most Money.

National Bank of Ukraine: Domestic Remittances in Ukraine Increased by Nearly 83% in 2024

New data from the National Bank of Ukraine shows that the volume of domestic remittances in Ukraine significantly increased in 2024. Ukrainians made transfers totaling UAH 1,336.58 billion within the country, which is 83% more than in 2023.

In 2024, 24 payment systems operated in Ukraine, of which 15 belonged to Ukrainian residents and 9 to foreign companies. The most represented international payment systems came from the USA and the UK.

The average amount of domestic remittance rose significantly to UAH 1,231 compared to UAH 862 in the previous year. The most popular payment system in the domestic market is 'PrivatMoney', through which nearly 57% of all remittances in Ukraine passed.

Regarding international remittances, about USD 2.5 billion arrived in Ukraine, which is 4.6% less than in 2023. The most money came from the USA, Israel, Germany, Italy, and the UK. The average amount of a single transfer from abroad was USD 267.

Among international payment systems, American companies lead the market: Western Union with a share of 37.58%, MoneyGram - 19.20%, and RIA - 18.33% of the total volume of international remittances.

According to estimates from the National Bank of Ukraine, the total volume of money transfers to Ukraine for 2024 amounted to approximately USD 9.6 billion, including official and unofficial channels.

It is important to note that payment systems were actively used for humanitarian aid payouts to Ukrainians from international organizations. The regulator also reminds about the preservation of restrictions on transfers abroad during the martial law period.

Earlier, the National Bank announced the possible cancellation of limits on card transfers.