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Money transfers

We execute local and international money transfers in Armenian drams and foreign currency. You can transfer funds both from your bank accounts and without opening any account. Money transfers are executed through international payment systems that are in full compliance with international banking standards.

General Provisions

Your bank transfers will be executed under the RA law On Banks and Banking, regulations of the RA Central Bank and agreements made with correspondent banks and bank’s customer service terms and conditions.

Execution of money transfers will be based on payment orders (depending on the size, nature and purpose of the transfer, we can require other documents as well).

Payment orders submitted before 3:30 p.m. of a business day will be implemented on the same banking day, while the payment orders submitted after 3:30 p.m. will be performed on the next banking day. Money transfers in drams (payments to the state budget and local communities budgets, utility fees or other social payments) submitted before 4:30 p.m. will be performed on the same banking day.

Commission Fees: In case of bank transfers in AMD and foreign currency a relevant commission fee will be charged according to the bank’s rates and tariffs. No fees will be charged for utility bills. Fees will be charged in Armenian drams. The fees set as a percentage of foreign currency amount will be charged in Armenian drams, based on the exchange rate of non-cash sale of foreign currency as of the payment day.

We shall provide a document confirming the fact of execution of each money transfer to indicate the remitted amount, currency, commission fee and other details.


  • Transfers in AMD
    • The bank's payment-settlement systems ensure fast and sound money transfers in Armenian drams both within the bank's system and between other Armenian banks.
    • Local money transfers in Armenian drams are executed within 1 banking day.
  • International Bank Transfers
    • We are a member of the SWIFT system and execute international bank transfers in foreign currency through the mentioned system ensuring fast and secure remittances in full compliance with international banking standards.
    • The transfer will be executed only in case of availability of transferable amount and the chargeable fee.
    • For international bank transfer in foreign currency you must submit a duly filled out payment order (if necessary, our employees are ready to help you in filling out the mentioned payment order).
    • International bank transfers in foreign currency are executed according to our tariffs for the following options:  OUR (costs are covered by the remitter), Guaranteed OUR (the recipient gets the full amount) and BEN (costs are covered by the remittee).
    • As a rule, international bank transfers in foreign currency are executed within 1-3 banking days. The duration of money transfers depends on the number of banks involved in transferring funds between banks.
  • Payment Systems
    • Payment systems involved in money transfers make it possible to execute non-commercial fast money transfers between individuals all around the world under a simplified procedure without opening a bank account.
    • The payment systems serviced by the bank can be found here.
  • Changing Bank Details or Cancelling Money Transfer
    • Changing bank details or cancelling a money transfer will be performed on the basis of a written application of the remitter, for changing bank details or cancelling the money transfer the bank charges a relevant fee (tariffs can be found in section Bank Transfers ).
    • We correct errors as well as cancel a money transfer within the time-frame and limitations set by the remitter and recipient banks, typically it takes 2-5 banking days.
    • If the person initiating the money transfer submits an application for cancellation of a money transfer, and according to the inquiry the funds have already been credited to the account, we bear no responsibility for the return of the sent amount.
    • In case the transferred funds have not arrived to the recipient:
      • Transferred funds will be returned by a correspondent bank to the remitter bank. The timeline for returning funds depends on the timing set by the correspondent banks and the number of banks involved in transferring money between banks.
      • The returned funds will be credited into the remitter's bank account, while in case of transferring money without opening a bank account the funds will be returned  to the remitter on the basis of passport data indicated in the payment order.
    • Other provisions. In case of changing/correcting errors in bank details, cancellation of money transfers by payment systems (non-commercial fast money transfers between individuals), as well as failure to identify the recipient of the money transfer, the funds will be returned under the terms and in timelines set by internal regulations of the mentioned systems.

Updated 14.11.2019 | 12:28:44