The payment platform has made new efforts to help Ukrainian users access funds quickly and securely. Here’s how PayPal’s humanitarian efforts are helping Ukrainians.
How PayPal Is Helping Ukrainians Manage Their Money
In a recent PayPal press release, the company outlines how it’s expanding its money services to help Ukrainian customers send and receive money. These are the changes made by PayPal:
Peer-to-Peer Payments
PayPal now allows Ukrainian users to send money to their friends and family through peer-to-peer (P2P) payments. Once users have received a transfer, they can transfer those funds from their Ukrainian PayPal account into an eligible Mastercard or Visa credit or debit card.
Fund Transfers
Ukrainian PayPal users can now send and receive money from their PayPal wallet in the following currencies; USD, GBP, EUR, and CAD. When money is transferred from a PayPal account to a suitable Mastercard or Visa debit or credit card, the funds will be available in the currency linked to the card.
These changes aim to allow users who have left Ukraine to access funds through a Ukrainian PayPal wallet. Ukrainians without PayPal can easily set up a PayPal account to benefit from these changes.
Waiving PayPal Fees
Sending and receiving money on global payment platforms can get quite costly. In efforts to ease the burden of sending and receiving funds, PayPal will temporarily waive its fees for sending funds to Ukrainian PayPal accounts and receiving funds from Ukrainian accounts. PayPal’s international remittance service, Xoom, has also removed transaction fees for funds sent to users in Ukraine.
PayPal plans to carry out these new services until the end of June 2022.
Humanitarian Efforts to Help Ukrainians
The seriousness of the situation in Ukraine requires humanitarian efforts to assist Ukrainians in dealing with the situation. Thankfully, PayPal has made the steps mentioned above to assist Ukrainian users with managing their funds.
