PayPal allows you to send money to Ukrainians without fees

NEW YORK (AP) — PayPal users will be able to send money to Ukrainians, both those in the war-torn country and those who are refugees in Europe, the company said on Thursday.

Until now, Ukrainians could only use the payment platform to send money outside the country. They will now be able to receive funds and make transfers within and outside Ukraine.

A number of banks and other financial services companies have been taking similar steps to try to help Ukrainians affected by the Russian invasion.

Last week, PayPal suspended its services in Russia.

Since the beginning of the war, Americans and other supporters of Ukraine have been looking for ways to financially support Ukrainian refugees, as well as those still in the country.

People have booked accommodation in Kiev through the Airbnb platform, or have sent cryptocurrencies to Ukrainians.

Money transfer companies, such as MoneyGram and Western Union, have seen increased demand, as people look for ways to send money to their friends and family in the region.

PayPal, based in San Jose, California, stated that it will not charge fees for transfers of funds to Ukrainian accounts, or those who receive funds in Ukrainian accounts, until June 30.

Funds from a PayPal account can be transferred to the user's local bank or used as a Visa or Mastercard virtual card, which is more common in Europe than in the United States.

PayPal's Xoom international remittance service will also eliminate its transaction fees, according to the company.