PayPal Enables Ukranian Accounts For Smooth Flow of Online Money Transfers

Payments company PayPal said that it is expanding its services for Ukrainian accounts and allowing them to send and receive money from friends and family.

In a letter to the Ukrainian government, the company also said that Ukrainian account holders will be able to transfer money from their PayPal accounts to credit and debit cards, as well as to external bank accounts by linking an eligible Visa or Mastercard debit or credit card, CNN reported.

"We believe this service will be helpful for people in Ukraine to receive money from their friends and relatives around the world," the company wrote in a letter to Ukraine's Minister of Digital Transformation, Mykhailo Fedorov.

"It will also help Ukrainian refugees in other countries, so they can receive money to use or withdraw in their current location," it added.

Previously, PayPal users in Ukraine could only send money internationally from their accounts, not receive it, the company told CNN Business.

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