The volume of money transfers to Ukraine using money transfer systems established by residents and non-residents in the first quarter of 2016 totaled $544 million, which is 6.6 times higher than abroad ($82 million).

According to the website of the National Bank of Ukraine (NBU), the volume of remittances in Ukraine amounted to $849 million.

According to the NBU, in the first quarter of 2016 some 36 remittance systems operated in the country, including 21 established by residents, 15 by non-residents (three from the United States, two Azerbaijan, one by Georgia, Britain and Canada, as well as seven systems of the Russian Federation, on which the National Bank has not decided on recording them in the register of payment systems).

The regulator said for the first quarter of 2016 the amount of funds received in Ukraine using international transfer systems is seven times higher than the amount of money sent abroad.

In general, in the first quarter Ukraine received $543 million through non-resident systems, which is slightly (by $1.1 million) more than in the same period of 2015, while $82 million was transferred from Ukraine (1.6 times less than in the first quarter of 2015).