You're reading: How to get money out of Ukraine

According to new customs rules approved by the National Bank of Ukraine, as of Oct. 1, you can take a maximum of $6,000 with you when you leave the country.

You can take up to $1,000 out of the country simply by declaring verbally that you possess no more than that sum. You can take an additional $5,000 over the border if you have documents stating where you got the money.

To get more than $6,000 out of the country, the new rule states that all persons, foreigners and Ukrainians alike, must go through a local bank.

However, if you declared an amount up to $10,000 on your customs declaration when you entered the country, you may freely exit the country with the entire sum you declared. Additional cash may be taken out in accordance with the rules stated above.

Thus, if you declared $10,000 (the maximum amount of cash you are allowed to freely bring into the country) coming into Ukraine, you may legally take $16,000 with you when you leave, according to the human rights group Helsinki 90.

To avoid problems, it is advisable when you enter Ukraine to fill out a customs form that clearly states how much money you are carrying. Then save the form and bring it with you when you leave the country.

To transfer more than $6,000 (above what you brought in) out of the country, your only option is wiring that money through a local bank, Ukraine’s State Customs Service reports.

Both a Ukrainian and a foreigner can wire money from Ukraine but on different terms. There is no limit on how much money foreigners can wire, but for large sums they must submit documents stating clearly where that money originated and proof that all taxes have been paid on that sum. If you earned that money legally and paid the proper taxes, you should have no problem obtaining a document from the State Tax Administration or your workplace. Of course, foreign citizens can wire the money they declared when entering the country without proof of origin.

Locals may wire only $200 out of the country without restrictions (or $500 if they can prove that money is going to a relative abroad). To wire more than $200, locals need a special license from the National Bank of Ukraine. However, the rules allow locals to wire $5,000 without an NBU license if they are traveling abroad for educational purposes, and $10,000 if they are traveling abroad for medical treatment. Proof of origin must still be provided on such transfers. Local banks informed the Post that NBU licenses are not difficult to obtain, as long as the sum being wired is not too exorbitant.

Most banks charge a wiring service charge of about 0.2 percent of the sum being wired.

Another way of getting cash out of the country is through use of a plastic debit card issued by a Ukrainian bank. If you have a large sum of money in a Ukrainian bank and a debit card issued by that bank, you can access that money abroad through use of the card. It is wise to get cards recognized in other countries. Some Ukrainian Banks, such as Nadra and Aval, issue Visa and Mastercard debit cards, which can be used in most countries of the world. In all, 19 Ukrainian banks issue some kind of debit card.

To get Visa or Mastercard plastic cards, you have to put about $300 to $500 on deposit, depending on the bank you choose, and pay for the plastic card itself ($25-$40).

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