We value our editorial independence, basing our comparison results, content and reviews on objective analysis without bias. But we may receive compensation when you click links on our site. Learn more about how we make money from our partners.
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 XE available who could save you money with lower fees and stronger exchange rates.
WorldRemit International Money Transfers
Send money to 110+ countries for bank deposit, instant e-wallet, mobile top-up or cash pickup at 30,000+ agent locations worldwide.
Your first transfer is free with the code FINDER.
- Low upfront fees and exchange rates.
- Easy to use with round-the-clock help.
- Get cash to family and friends in minutes.
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.
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.
Steps to send money to Armenia
- Register for an account with a provider, supplying your name, address, contact details, proof of ID and information about your selected payment method.
- Enter the information for your designated recipient and the amount of money you wish to send.
- 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 1||Money transfer company 2|
|Exchange rate||1 USD = 482.25 AMD||1 USD = 484.533 AMD|
|Transfer options||Cash pickup transfer||Cash pickup transfer|
|Transfer speed||Within an hour||2 days|
|Total AMD received||479,839 AMD||479,688 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.
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.
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. 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
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.
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.
Read more on this topic
XE vs. OFX money transfers Check out this side-by-side comparison of XE and OFX to find out which provider offers the best value on international money transfers.
Alternatives to CurrencyFair Thinking of using CurrencyFair? Double check to make sure it’s the best option for you before sending money overseas.
Alternatives to InstaReM Find the best alternative websites to InstaReM for online money transfers.
XE vs. TorFX We look at TorFX and XE to see which will get you a better deal the next time you send money overseas.
XE vs. Western Union We compare XE's and Western Union’s fees, exchange rates and transfer speeds side by side.
Remitly vs. PayPal Compare a well-known payments giant to the newer Remitly and see which one can give you a better deal.
Remitly vs. TransferWise Remitly and TransferWise’s fees, exchange rates and speeds compared side by side.
How to send money to Guinea Compare the services that send money to Guinea. Find out how to get the best value for your money, how long it takes and what to look out for.
Best places to exchange currency in Sydney Your guide to currency exchange services in Sydney, including where to find the best exchange rates and lowest fees.
Best places to exchange currency in Winnipeg Looking for the best deal on Canadian dollars in Winnipeg? Compare popular services and access handy tips to get the most out of your next transfer.
Ask an Expert