PayPal said Thursday that it is expanding its services for Ukrainian accounts and allowing them to send and receive money from friends and family.
The payments company also said in a letter to the Ukrainian government that Ukrainian account holders will be able to transfer money from their PayPal accounts to credit and debit cards, as well as external bank accounts by linking a Visa debit or credit card. or eligible Mastercard.
“We believe that this service will be useful for the people of Ukraine to receive money from their friends and relatives around the world,” PayPal wrote in a letter dated March 17 to Ukraine’s digital transformation minister Mykhailo Fedorov. “It will also help Ukrainian refugees in other countries, so they can receive money to use or withdraw at their current location.”
PayPal is also waiving transaction fees for remittances to Ukrainian accounts, for both senders and recipients. The change also applies to Xoom, PayPal’s global remittance platform, the company said in a blog post.
Money transferred from a PayPal account to a linked debit or credit card will make the funds available in the card’s local currency. Ukrainian users will be able to send and receive euros, US dollars, Canadian dollars, and British pounds.
The temporary extension of the service will last until the end of June, according to the company.