General Terms of International Money Transfers
  • Transfers are carried out in Armenian drams and foreign currencies in accordance with below mentioned terms and tariffs.
  • Commissions are charged in AMD, based on the CBA’s average exchange rate defined for AMD on the due day of the transaction. In case of lack or insufficient amount in the Customer’s AMD account, the commission for the transaction shall be charged by the Bank from the Customer’s foreign currency account by converting the foreign currency into AMD on the currency exchange market’s average exchange rate on the due day of the transaction.
  • Remittances are performed and paid in the currency specified for the transfer or in other currency by converting the amount in accordance with the Bank’s current exchange rate.

        Identity documents are as follows:

 

  • For residents of the Republic of Armenia

         - Passport,

        - Identity card,

        - Military book (for citizens currently on military service)

        - Temporary ID provided by the RA Police.

  • For refugees

         - Refugee certificate

        - Refugee travel document

   

  • For foreign nationals and non-RA citizens

         - Foreign state passport, internationally acknowledged identity documents

        - Special passport of the Republic of Armenia

        - Residence permit

In case of transfers on behalf of children under the age of 14, the amounts are paid exclusively to their legal representatives (parents, custodians, authorized person of the trustees’ body). Moreover, the transfers are paid solely upon provision of the actual receivers’ passports and the authority proving documents.

In case of transfers to persons of the age of 14 to the juveniles, the amounts are paid solely upon provision of the passport or an identity document (military book, temporary ID provided by the RA Police).

- The Beneficiary's bank account requisits.

  • To get the transfer, the Beneficiary must provide the Bank with identity document.
  • The Bank provides the Customer with the corresponding receipt for the transfer conducted.
  • Remittances are performed and paid in the currency specified for the transfer or in other currency by converting the amount in accordance with the Bank’s current exchange rate
  • The Bank is not responsible for direct and indirect charges and losses of any party of the transfer, if such has been arisen as a result of Bank’s actions under money laundering and terrorism preventing measures, as well as in compliance with other requirements of the RA legislation.
  • The Bank is not responsible for the Customer’s orders delay, mistakes and losses as a result of the mistakes, if they have been arisen in the following cases:

         - Customer’s wrong or not clears orders

        - Telecommunications malfunction

        - Restrictions to the Customer set by a third authorized party

        - Force majeure (natural disasters, pandemics, earthquakes, strikes, blockades, declarations of states of war and emergency, acts of state agencies, etc.)

  • Charges for international money transfers can be distributed between the Sender and the Beneficiary as follows:

         - OUR option: the commissions set by Artsakhbank and of an intermediary bank/s are charged from the Sender.

        - BEN option: the Sender shall pay the commissions set by Artsakhbank only, while charges of an intermediary bank/s are charged from the Beneficiary upon the receipt of the transfer.

    


Transfer Schedule
Currency Transfer Deadline
USD, EUR, RUR    15:00, in case of receiving order via Internet Bank: 16:30
Other currency upon the Bank's Chief Treasurer approval
  • The schedule is applicable for transfers under AMD 50 mln or equivalent foreign currency.
  • For transfers of more than AMD 50 mln or equivalent foreign currencies, both mentioned and other currencies, the orders received from the Customer after the defined deadline within the same business day, the service is provided on the principle of "if possible".
  • In other cases remittance orders are conducted on the next business day.
     
Tariffs for International Money Transfers (from bank account and account-free transfers)1
Type of services Commissions
Transfer from banking account
 
BEN 2
 
USD, Euro AMD 2 000 
OUR 3
 
USD 0.15%, AMD 7 000 Min and AMD 40 000 Max
RUB 0.1%, AMD 3 000 Min and AMD 15 000 Max
EUR
Other currencies 4
0.15%, AMD 6 000 Min and AMD 30 000 Max
Guaranteed OUR 5
 
USD Fee for OUR + AMD 10 000
Urgent Transfers 6
In foreign currency Additional AMD 6 000
Transfer cancellation or changes in the data provided for transfer on Customer’s Claim7
 
RUB AMD 5 000
Othe foreign currency AMD 25 000
Requests on Executed Transfer on Customer’s Claim
 
For Transfers in AMD AMD 30 000
For Transfers in RUB AMD 10 000
For Transfers in other foreign currency AMD 30 000

1 Commissions are applicable for transfers under AMD 50 mln or equivalent foreign currency. For transfers of higher amount the mentioned commissions are considered as benchmark and at the time of the transaction a new commission can be set in accordance with the Bank’s regulations.
In case of BEN transfer the commissions of an intermediary bank is charged from the Beneficiary.
3 In case of OUR transfer the commissions of an intermediary bank is charged from the Remitter.
4The possibility of making a transaction in a specific currency is to be approved by the the Bank’s Non-cash Transactions Management Division.
5 In case of Guaranteed OUR transfer the amount is received by the Beneficiary in full.
6 This service is provided on the principle of "if possible", and in case of a negative result, the Bank is not responsible for non-execution of the transfer by third parties. The service is provided upon the Banks’ Non-cash Flow and Cash Management Division.
7This service is provided on the principle of "if possible", and in case of a negative result, the Bank is not responsible for non-execution of the transfer by third parties.

 

Your Financial Directory

ATTENTION: "YOUR FINANCIAL DIRECTORY" IS THE ELECTRONIC SYSTEM FOR SEARCH, COMPARISON OF SERVICES, OFFERED TO INDIVIDUALS, AND MAKING THE SELECTION OF THE MOST EFFICIENT OPTIONS FOR YOU EASIER.