How to send money to Armenia

Find a fast, simple and cost-effective way to send money to Armenia from the US

If you need to send money to Armenia, there are only a handful of transfer providers to choose from. Since Armenian drams are a thinly traded currency most providers avoid exchanging them.

The good news, though, is that Western Union and MoneyGram both provide speedy money transfers to Armenia. The bad news is that these rush services can be expensive. Fortunately, there are also online specialists like World First available who could save you money with lower fees and stronger exchange rates.

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    Compare international money transfers to Armenia

    Use our comparison calculator to assess transfer fees, exchange rates and other details for sending funds overseas with our money transfer partners.

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    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:

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    Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Services Amount Received Description CTA Details
    USD 1 3 - 5 days - - Online, Phone, Bank Account to Bank Account, Cash Transfer No fees for bank account transfers and cash pickup at 240,000 locations in 130+ countries. Go to site Show details
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    Banks vs. money transfer companies

    While you’ll be tempted to visit your bank for a wire transfer to Armenia, a reputable money transfer service can typically offer better exchange rates, lower fees and faster delivery — often without you having to leave your home.

    Banks don’t often publish exchange rates, but you can sometimes find the rate you’ll receive by logging in to your online bank account.

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    Steps to send money to Armenia

    1. Register for an account with a provider, supplying your name, address, contact details, proof of ID and information about your selected payment method.
    2. Enter the information for your designated recipient and the amount of money you wish to send.
    3. Complete your transaction and keep track of any transaction reference numbers you receive.
    Case Study: Jen Sends Money to Armenia

    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 eviction. 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 1Money transfer company 2
    Exchange rate1 USD = 482.25 AMD1 USD = 484.533 AMD
    Transfer fee$5$10
    Transfer optionsCash pickup transferCash pickup transfer
    Transfer speedWithin an hour2 days
    Total AMD received479,839 AMD479,688 AMD

    With money transfer service one, you save $5 on the transfer fee alone. And with a stronger exchange rate, you’d get 162 more Armenian drams to your mother for cash pickup in minutes flat. That’s one happy momma.

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    How to compare transfer companies when transferring money to Armenia

    By comparing a few elements of your transfer, you can ensure that you get the cheapest deal for your needs.

    • Exchange rates. Nearly all providers skew exchange rates for a profit. Compare the rate you’re offered to the mid-market rate — the rate banks and transfer services use when they trade among themselves — and look for the smallest margin between them.
    • Transfer fees. Find out whether the provider charges a flat fee or a percentage of your transfer. If you’re sending a large amount, ask whether you qualify for a fee-free transfer.
    • Payment and delivery options. Some transfer companies allow you to pay with a credit card online, by phone or through an app. Others offer agent locations for cash payments and pickups. Also ask how your recipient can receive your funds: bank account, cash pickup, mobile wallet and more.
    • Transfer speeds. If it needs to be there fast, companies like Western Union and MoneyGram allow for quick cash pickups, often in minutes. If you have more time, you’ll get better rates and fees with an independent provider.
    • Transfer limits. Your best option might depend on how much you want to send. For large transfers, weigh the best exchange rate — especially since providers encourage large transfers by offering low fees. For smaller amounts, consider the fees you’ll pay on top of the exchange rate.
    • Flexible transfer options. Ask whether you can schedule payments ahead of time or protect your transfer against market fluctuations with a limit order or forward contract.
    • Customer support. Most companies offer customer service by Internet chat, phone, in person or by email. Make sure help will be available if you need it.
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    Foreign exchange rates explained

    The exchange rate determines how much one country’s currency is worth in another currency. A strong currency yields more money when it is exchanged for a weaker currency. As of September 2017 one US dollar could be exchanged for 478 Armenian drams. Like most countries, Armenia’s exchange rate is flexible and can change from moment to moment based on factors like interest rates, economic stability and inflation.
    Currency exchange rate for Armenia

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    Ways to send money to Armenia from the U.S.

    • Bank transfers. Many major US banks will allow you to send money to Armenia.
    • Money transfer providers. Western Union and MoneyGram allow you to send funds for cash pickup at agent locations.
    • Transfer companies with cash pickup. Providers like Western Union and MoneyGram offer this service at cash pickup at agent locations — your recipient can sometimes pick up the cash within minutes.
    • PayPal. Electronic payment giant PayPal allows you to send money from the US to Armenia.
    • Checks and money orders. Although not a quick option, you could send an international check overseas, obtained from your bank or US Postal Service.

    Same-day transfers to Armenia

    You might need to send an emergency cash transfer to Armenia — for example, if a family member loses their wallet while on vacation. When you need to transfer funds urgently, your fastest possible transfer will often be your most expensive option. Carefully review the exchange rate and transfer fee against your needs so that you understand exactly how much it will cost you.

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    Tips for picking up cash in Armenia

    Whether picking up funds in Yerevan, or anywhere else around the world, take a few simple safety precautions to prevent yourself becoming a target for thieves.

    • Call ahead. Learn the company’s business hours and choose a safe time to pick up your cash. Daylight hours are best.
    • Bring a friend. Carrying money when alone can be dangerous. Ask a friend to come along.
    • Deposit your money immediately. The likelihood of losing your money to theft or simple carelessness grows the longer you have it with you. Go straight to a bank and deposit your cash as soon as possible.
    • Keep your cash hidden. Place your money in your purse or wallet before leaving the office. Carrying cash out in the open could make you a target.
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