Payments into Ukraine are available in USD or Euros but trading in Ukrainian Hryvnia (UAH) is not available.
- Payments can be made into Ukraine and western parts of Ukraine by Ukrainian crew members or any other nationality. The sanctions administered currently are largely targeting the four regions (Crimea, Luhansk, Kherson and Donetsk) and any payments directly or indirectly linked to these regions will not be processed. At present, payments to Ukraine with no connection to the aforementioned regions will be processed. Please keep in mind that if either remitter or beneficiary is in a sanctioned area, a bank may reject a wire transfer.
- Russian and Ukrainian crew members can send money to themselves in other countries; however, they should exercise caution, as payments will be screened by the intermediary and receiving banks and may be delayed.
- ShipMoney Wire Service has been enabled for payments into Russia effective Monday, August 15th.
There are several important caveats that must be considered:
- Payments can only be sent in US Dollars or Euros and cannot be converted to Rubles.
- Payments can ONLY be sent to the following eight non-sanctioned banks. These non-sanctioned banks may not be available for payments in the future and could be restricted immediately and without notice. Other banks may be available in the future, and we will provide notice should this happen:
- Deutsche Bank
- AO CitiBank Moscow
- UniCredit Bank (Available)
- Banca Intesa (Moscow)
- AO MUFG Bank
- Bank of China (Russia)
- Asian-Pacific Bank
- Raiffeissen Bank (Please note that payments can only be made in Euros)
AO MUFG Bank (Eurasia) YOU CANNOT SEND PAYMENTS TO ANY OTHER RUSSIAN BANK.
- Payments sent to a Russian bank not listed above may result in funds being SEIZED due to sanctions violations.
- Payment instructions will be scrutinized with enhanced sanctions screening. Additional information and documentation may be requested regarding the crew member and/or the beneficiary which will delay settlement.
- If the beneficiary details are not 100% accurate including the EXACT name of the beneficiary, payments will be significantly delayed or returned. If the receiving or intermediary bank returns the funds, significant fees will be charged, and the amount returned will be much less than what was originally sent.
- Payments will be SIGNIFICANTLY DELAYED and will take much longer to settle than you may have experienced in the past. There is a huge worldwide backlog of payments being sent to non-sanctioned banks. Payments are being manually reviewed and approved on a case-by-case basis RESULTING IN SETTLEMENT TIMES OF MANY WEEKS OR MORE IN MOST CASES. This is not unique to ShipMoney but for all inbound payments into Russia.
- The amount sent may not be the amount that settles to your account. The receiving bank in Russia and/or the intermediary bank may assess their own separate fees due to the enhanced screening procedures.
- We recommend that crew send a test wire to a beneficiary for a small amount (no more than $500) to make sure that the funds properly settle.
- There will be a $10.00 Surcharge for these payments due to the additional screening and compliance costs. This will appear as a separate charge on your transaction history.