People have been wiring cash to Russia for years, and over time it has become less complex. For example, have you ever given thought as to what it would have been like to transfer cash to Russia fifty years ago?

Back then you were forced to send cash or a cashiers check through the mail, which would have taken days, even weeks. During that time senders also had the benefit of using the hawala system. Essentially, a sender would visit a broker who would call another and promise to repay them if they gave the recipient in the transaction their needed money.
 
The hawala system has been around for ages and is one of the oldest ways to wire money internationally. With roots in Islamic law, the word Arabic translation of Hawala means “wire” or “transfer,” and this system remains standing in most Middle Eastern and Third Word countries. However, this system is now illegal in the U.S. and many other countries in an attempt of Western governments to stop money transfers that end up funding terrorists. Although it’s nearly impossible to completely rid the world of the Hawala system, governments have successfully restricted its use in transfers from Russia over to the U.S.
 
The most rapid way to wire money to Russia from the U.S. is a bank’s wire transfer system or location based services, found all over the world. And unlike the Hawala system it is government-backed to guarantee the recipient gets their money.
 
One disadvantage of  using one of these methods however, is the fees. Banks offer flat rates ranging from $35 to $45 regardless of the amount transferred, making this one of the most affordable options when sending funds to Russia. On the other hand, the cost of location-based services vary with the amount being wired. Some business’ may charge up to 12% on top of a fee for converting the money into rubles.
 
It is important to take note of exchange rates before you wire money to Russia since many location based services will beef up the rates in their favor. Banks, meanwhile, are required to maintain the rates on the day the transfer is completed.

Fortunately, new forms of money transfers continue opening the door for new options. Soon, sending money to Russia will be as easy as pressing a few buttons on your cell phone. Until that day arrives, your safest bet is to stick with one of the more guarded, well-known systems.