Find the best ways to transfer money to Armenia

The exchange rate determines how much AMD the recipient will get when you transfer money to Armenia.

For example, today, the average exchange rate between US Dollar and Armenian Dram is 394.9101.

The rate constantly fluctuates depending on the destination currency and the market conditions, so timing your transfer can help you save a lot of money.

Sometimes, waiting a day or two can help you get more AMD.

If you do need to send AMD now, we suggest using Wise. Their rate for AMD transfers was the best over the past 6 months.

The cheapest way to pay for your transfer to Armenia is via Bank transfer with Revolut. It is 0.8% cheaper than the next best option.

The way you pay affects the cost, speed, and the amount of AMD you receive.

Here are your cheapest options:

*Based on a $2,000 transfer to Armenia using our 6-month comparison data. Transfer time is based on averages from multiple companies.

Avoid using a Debit card option when sending money to Armenia, as it’s the most expensive.

Credit card transfers to Armenia come with cash advance fees and higher interest rates on AMD.

Xe, for example, charges $14.56 when paying with a credit card vs $0 via bank transfer by Revolut.

When possible, avoid sending AMD over the SWIFT network. Despite its name, SWIFT transfers to Armenia are slower with steeper fees.

Some services have limits on how much you can transfer, both minimum and maximum thresholds.

Different services might offer better rates or lower fees for different transfer amounts.

For example, we recommend using Wise if you need to send large amounts of AMD abroad.

In general, the quicker you need AMD delivered, the more it will cost you in fees.

Transfer speed to Armenia depends on the AMD amount, the time you initiate the transfer, and your payment method.

Take, for instance, an urgent need to transfer $2,000 from the US to Armenia.

Overall, of 9 companies serving Armenia, Ria Money Transfer is the fastest regardless of the deposit method, appearing 33.3% of the time in our searches.

For bank or debit card deposits, services like MoneyGram excel in this regard, offering near-instantaneous and cheapest AMD transfers with $11.5 or $80.67 fees respectively and 2% markup.

Credit card transfers via Xe to AMD can take up to a day with a $14.56 fee and 4.7% markup (keep cash advance fees in mind). This is based on 6-month data from comparisons on MoneyTransfers.com.

If you urgently need to transfer money to Armenia, cash pickup will be the fastest, via Western Union or Ria Money.

Avoid SWIFT for AMD transfers as it's slower due to intermediary banks in Armenia.

Online

You can transfer money to Armenia with a money transfer provider. You can either choose to use a managed service like an FX broker, or an online-only company.

We found that Wise is the overall best online money transfer provider according to our 6-month analysis. They’ve appeared 77.1% of the time for AMD transfers in our search system.

App

Most money transfer services supporting Armenia transfers have an app, often, offering a better AMD rate. You can use our guide to the best money transfer apps to find the one that fits your needs.

In-person

Cash transfers to Armenia in person via Ria Money Transfers or Western Union are almost always instant, but require the recipient to visit the nearest agent to collect AMD.

Money orders

Another option is to send a money order using the postal service in your country. It is a less accepted method but often can be sent to harder-to-reach locations.

There are different ways to receive money in Armenia. You can make a direct bank deposit, send cash for pickup or home delivery, or use a mobile wallet.

If you want a direct transfer to your bank account, Wise offers the best service for bank deposits to Armenia.

And if you need cash right away, check if cash pickup is an option in Armenia.

Mobile wallet services and payment apps like PayPal and Xoom are popular too, but they come with more limitations and higher costs compared to money transfer providers like Revolut.

Please also note that CashApp is not available in Armenia.

To receive money in Armenia, you will need:

• Valid forms of ID: this could be a National ID, passport, or driving license.

• Sender's information: the full name and address of the sender.

• Transfer details: the amount of AMD to be received.

• Transfer reference number: will be needed for cash pickup or home delivery.

When you're sending or receiving money in Armenia, you have to be ready to share some documents.

The exact documents you need might vary by the company you use. Usually, you will have to:

• Show a government ID like a passport or driver's license.

• Give your contact details such as phone number and email address.

You will also need the recipients' details in Armenia. Sometimes this may include an IBAN or a SWIFT code depending on your payment method.

If you're making a large transaction to Armenia, a provider may ask you for proof of address (e.g. a phone or utility bill) and your source of funds (e.g. a bank statement).

That’s why we suggest Wise in this case. They know how to handle large AMD transfers and will help you get things done fast.

There might be tax implications to consider when sending money to Armenia.

Some AMD transfers may need to be reported to tax authorities, especially for larger amounts.

When in doubt, please contact a tax professional in your country or in Armenia.