PayPal enables Ukrainian accounts to send and receive money

PayPal enables Ukrainian accounts to send and receive money

Invalid Date by CNN

Key Facts

  • (CNN)PayPal (PYPL) said Thursday 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 to external bank accounts by linking an eligible Visa or Mastercard debit or credit card.
  • "We believe this service will be helpful for people in Ukraine to receive money from their friends and relatives around the world," PayPal wrote in a letter dated March 17 to Ukraine's Minister of Digital Transformation, Mykhailo Fedorov.
  • Previously, PayPal users in Ukraine could only send money internationally from their accounts, not receive it, the company told CNN Business.

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