Find a fast, simple and cost-effective way to send money to Armenia from the U.S.
From bank transfers and online transactions to options that allow recipients to collect your funds within minutes, sending an international money transfer to Armenia is easy. But do your research and shop around for the best available deal.
Compare international money transfers
Our interactive table lets you compare current fees, exchange rates, transfer speeds and other details about sending your money overseas. Enter the amount you’re transferring, and see how much will arrive at your destination.
Save money on your personal or business international money transfer today. Fill in the form and you’ll be contacted by a foreign exchange expert to have an obligation-free discussion about your options.
With over 17 years of foreign exchange expertise and over $100 billion transferred, OFX can help with all your currency exchange needs, including:
- Buying property abroad
- Regular overseas payments
- Risk management
- If the provider quotes a different rate to the one above please let us know
How do international money transfers work?
An international money transfer allows you to send money to a recipient overseas. Generally, a transfer involves you providing funds to a bank or an independent transfer provider, which then sends the money to your recipient in another country — in this case, Armenia. This can be done in person, over the phone, through a mobile app or online. You can use cash, a credit or debit card, or transfer funds from your bank account, which will then either be deposited into your recipient’s bank account or mobile wallet, or made available as cash for them to pick up at a location in their country.Back to top
Banks versus money transfer companies
We use our banks to take care of all our other financial needs, so surely we should use them when we need to send an international money transfer, right? Not necessarily. While major U.S. banks offer money transfer services, they usually present less competitive exchange rates coupled with high transfer fees.
You can often save money by using the services of a dedicated money transfer company. These providers specialize in handling overseas money transfers, offering attractive exchange rates and affordable transfer fees. This translates to big savings for you.Back to top
Jen wants to send a transfer of $1,000 from her new home in Miami to her mother in Armenia. Having fallen behind on the rent, Jen’s mother needs the money as quickly as possible to avoid being evicted. Since her bank doesn’t process exotic currencies, Jen approaches two cash pickup transfer companies to see which one offers the most affordable transfer option.
|Money transfer company 1||Money transfer company 2|
|Exchange rate||1 USD = 482.25 AMD||1 USD = 484.533 AMD|
|Transfer method||Cash pickup transfer||Cash pickup transfer|
|Processing time||Within an hour||2 days|
|Amount received (in AMD)||479,844 AMD||479,688 AMD|
How do I compare transfer companies when sending money to Armenia?
You’ll want to consider costs, of course. But other factors can also affect your choice.
- Exchange rate. U.S. dollars are converted to Armenian drams at an exchange rate that’s set by the transfer provider. These rates vary day to day, even moment to moment, and among providers.
- Fees. Most companies charge a fee to transfer your money around the world, though some will waive that fee for large transfers. The fee and the exchange rate determine how much your transfer will cost.
- Minimum amounts. Some companies will transfer as little as a dollar, but others won’t deal with anything less than a few hundred. Look for a match with what you’re trying to send.
- Urgency. If the money needs to get there ASAP, most providers complete transactions in a day or two. Some can do it in minutes, at a higher cost. The fastest availability usually comes with picking up the funds in cash. Surprisingly, using a credit or debit card on your end can be faster than pulling money directly from a checking account.
- Process and scheduling. Do you prefer to send money online, over the phone or in person? Do you want to schedule a future transfer or use a forward contract in anticipation of better exchange rates?
- Payment methods. Will you pay with cash, a bank account or a debit or credit card? Transfer agents often see debit cards as quicker and more secure than the bank accounts they’re based on. However, using a credit card can trigger cash advance charges from your credit card company.
- Customer service. How much help will be available if you hit a snag or have a question? Are the support hours convenient?
Ways to send money to Armenia from the U.S.
- Bank transfers. Most major banks offer wire transfers to Armenia.
- Money transfer providers. Online providers like TransferWise and WorldRemit can help you transfer money quickly and easily. World First and OFX are both trusted partners of Finder.com and are offering Finder readers an exclusive deal of $0 in fees.
- Transfer companies with cash pickup. Providers like Western Union and MoneyGram offer this service — your recipient can sometimes pick up the cast within minutes.
- PayPal. You can send money abroad using your PayPal account.
Tips for picking up cash in Armenia
Whether you’re picking up cash in Armenia or any other country, take a safety-first approach. Use common sense, such as keeping your cash hidden and depositing it with your bank as soon as possible. Taking a friend along with you to collect the funds is also a good idea.Back to top
Follow the money to Armenia
Whichever method you use, keep a record of the transaction reference number and other details so you can track the transfer and follow up if your recipient has any issues.
For a more comprehensive look at sending money overseas, see our guide to sending money overseas.Back to top