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Send money to Armenia
"Over 16 million customers use Wise, mostly for their excellent mobile app, transparent fee structure & use of mid-market rates. Now increasingly used for larger transfers."
"Xe has over 30 years of currency exchange experience, and is one of the most reputable names on the market. 200 countries, 100 currencies, & funds often received in seconds."
"Over 16 million customers use Wise, mostly for their excellent mobile app, transparent fee structure & use of mid-market rates. Now increasingly used for larger transfers."
"Revolut has 50+ million customers globally. You can hold up to 36 currencies in the app and send money quickly in 70+ currencies to 160+ countries."
"Xe has over 30 years of currency exchange experience, and is one of the most reputable names on the market. 200 countries, 100 currencies, & funds often received in seconds."
"Xoom, a PayPal service, allows you to send money in more than 160 countries. You can send cash for over-the-counter pickup or home delivery, as well as send by bank transfer or debit card."
"Paysend has transparent fees and rates, with transfer sent within seconds to your recipient's bank. They also have global 24/7 support for any enquiries, and bank-level security."
"Moneygram is a well established service with over 80 years in the sector. They support over 200 countries worldwide and have over 440,000 retail locations."
How to get the best rate for money transfers to Armenia
- Always compare rates
Don't pay more than you need to. Use our live comparison tool to ensure you aren't missing the best AMD rates.
- Choose a provider
Select the provider that fits your transfer needs and will get you the most AMD for the lowest fee.
- Click, sign up & send
Follow the steps & make your transfer. Your AMD will soon reach the recipient.
About money transfers to Armenia
Wise: The best way to send money to Armenia
We’ve tested 6 companies offering services in Armenia, and Wise stood out as the best money transfer company to Armenia.
They offer low fees of just $60.74 and -0.17% markup on AMD exchange rates, and fast transfer speeds.
Wise offers an ideal combination of features, speed, and cost for AMD transfers.
Cheapest way to send money to Armenia: Revolut
If you want to make the most of your AMD transfer, the cheapest way is to use Revolut and pay for your transfer with a bank transfer.
With just $21 in fees and 0.2% markup, Revolut is 0.2% cheaper than the next best option.
With Wise, if you were to send 7,000 USD to AMD, your recipient would get 2,673,524.31 Armenian Dram, this is more than with other providers on our list.
*Based on 7,000 USD transfer.
Fastest way to send money to Armenia: Paysend
Our data shows that Paysend is the fastest way to transfer AMD right now.
With Paysend, the transfer time to Armenia is minutes - 24 hours (for a $7,000 transfer).
Paysend charges $0 in fees on $7,000 transfer and adds a 1.45% markup.
The ‘fastest’ way to transfer money to Armenia includes the transfer amount, deposit method, and transfer and withdrawal times.
Wise is the easiest way to send money to Armenia
Wise is very transparent with its fees, charging $60.74 and -0.17% markup on AMD transfers.
They offer multiple deposit options, have good customer service, and take less than 5 minutes to get started with.
Consider this before sending money to Armenia
Don't settle for the first option. Always compare ways to send money to Armenia to find out about fees, speed, and reliability.
Our analysis included 6 providers that operate in Armenia.
Through this, you get a comprehensive view of all the options you have when sending money to Armenia.
Need to send over $10,000?
For transfers over $10,000, your best bet is Wise.
While Wise may not always be the cheapest or fastest way to send AMD, but they offer the best exchange rate, years of experience, and will offer you the peace of mind you need when sending large amounts abroad.
Understanding the costs involved when moving money to Armenia
When calculating the cost of money transfers to Armenia, here's what really matters: the country of origin, amount, payment method, fees, and the markup on the AMD exchange rate.
Exchange rate markup
This is a percentage added on top of the "real" AMD rate (known as the mid-market rate).
Wise, for example, offers the best exchange rate. It adds -0.17% markup to the USD-AMD exchange rate (384.4701 AMD - -0.17% per US Dollar).
Transfer fees
These are fixed and/or percentage fees added for the service when sending money to Armenia.
Let's imagine you want to send $7,000 from the US to Armenia.
After analyzing 6 companies supporting Armenian Dram, we found Paysend to offer the lowest fees ( $0 in fees and 1.45% markup).
However, exact fees vary by deposit method and the service, for example:
Bank transfers vary from $21 to $490.00000000000006
Debit cards range from $0 to $0
Credit card fees vary a lot, mainly due to cash advance fees and/or additional fees from your credit card provider.
How to get the best AMD exchange rate for transfers to Armenia
An exchange rate represents the value of the Armenian Dram (AMD) relative to another currency. Since it fluctuates continuously, the rate you get directly affects the amount of AMD you receive.
Recent trends in AMD exchange rates:
The average rate was 383.7424 Armenian Dram per US Dollar, with a high of 385.6202 AMD/USD and a low of 381.5066 AMD/USD.
During the past week, the AMD/USD exchange rate experienced some fluctuations. Ensuring you exchange or convert money at a higher rate would result in more AMD received.
Wise is our top recommendation for sending AMD as it offers an exchange rate that is -0.17% above the mid-market rate, which is 0% cheaper than the next best option.
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Top payment methods to use for transfers to Armenia
Money transfer companies will offer different ways to fund your transfer to Armenia. Depending on the service used, deposit options can affect the speed, the cost of your transfer, and the amount of AMD received.
Bank transfers
Bank transfers are a standard deposit method used for sending money to Armenia. Almost all services covering Armenia offer it.
Bank transfers to Armenia are usually cheaper than other deposit methods but can take up to 3 business days for AMD to reach Armenia.
Out of 6 providers we’ve tested, we found Revolut to be the cheapest for bank deposits, with just $21 per transfer and a 0.2% markup. This is 0.2% cheaper than the second-best option.
When possible, avoid using wire transfers over the SWIFT network for AMD transfers. It is slower and more expensive due to intermediaries involved, instead, look for an ACH deposit option.
Debit and prepaid cards
Debit card transfers to AM are usually faster than bank transfers.
Most AMD transfers can take up to a few hours but it can be slightly more expensive.
We recommend using Xe if you want to use a debit card or prepaid card to fund your money transfer to Armenia.
With Xe, you can expect to pay $0 in fees and 5.23% markup when depositing money with a debit card. This is 0% cheaper than using the next best provider out of the 6 companies supporting AMD transfers we’ve tested.
Credit cards
You can also use a credit card to fund your transfer to Armenia.
We found a few options for credit card transfers out of 6 companies compared.
Credit card deposits are usually more expensive when sending money to Armenia, so if you can, use a bank transfer or debit card deposits so save on fees.
If you do need to make a CC deposit, we recommend running a quick live search to get the best deal right now.
Cash advance alertYour credit card company may charge you a cash advance fee and offer higher interest rates for international transactions to AM. We recommend avoiding credit cards, and instead opt for a bank or debit card transfer.
How we analyze the market
We track the cost, speed, and product offerings of the leading money transfer services available in Armenia.
Our comparison engine and algorithms evaluate providers based on over 25 factors, including transfer fees, ease of use, exchange rates, mobile apps, transfer times & customer support.
We also consider how these services are rated on platforms like TrustPilot, AppStore, and Google Play, giving you a comprehensive view of what to expect.
This thorough analysis helps you get the best available deal - every time you want to move money to Armenia.
We also provide unbiased and detailed reviews of all the top money transfer companies. You can use these reviews to find the best service for your needs when sending money to Armenia
For a deeper understanding of our commitment to integrity and transparency, we invite you to read our editorial policy document.
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FAQs
Find answers to the most common questions on our dedicated FAQ page.
