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Send money to Armenia
Compare fees and exchange rates to get the best deal on your next money transfer to Armenia.
Located in the Caucasus region and boasting a history that dates back to at least 4000 BC, the landlocked nation of Armenia is a gem few Singaporean travellers know about.
If you need to send funds between Singapore and Armenia for any reason, whether helping out a family member or buying something from an Armenian seller, make sure to compare your money transfer options so that you find the most affordable solution.
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Banks versus money transfer companies
The first institution many people think of when they need to send money overseas is their bank. But while sending funds via your bank can be convenient, banks don’t offer their transfer services cheaply. They offer low exchange rates and charge high fees on transfers, which means that both you and your beneficiary in Armenia get a raw deal.
That’s why you should shop around to see whether a dedicated online money transfer company might be able to help. These providers offer superior exchange rates and more affordable fee structures than the banks, so they can save you a whole lot of money the next time you need to send funds overseas.Back to top
How do I compare transfer companies when transferring and receiving money via Armenia?
- Exchange rates. Look for the company that regularly offers better exchange rates than its competitors. However, make sure those rates don’t come with hefty fees attached.
- Transfer fees. Don’t forget to read the fine print to check how much you will have to pay in the form of a transaction fee each time you send money overseas.
- Transfer methods. Will you send the transfer online, by visiting a branch, by making a phone call, or by using a mobile app?
- Transfer options. Check to see whether the provider offers special transfer options which you can use to save time and money, such as forward contracts and recurring payment plans.
- Minimum and maximum limits. If a company places limits on the amount you can send per transaction, make sure those limits will not infringe on your regular transfer requirements.
- Processing times. If fast transfers are a must, check to see how long it will take for an average transaction to be completed.
- Pickup options. Will the funds be sent as a bank account transfer, made available for cash pickup or transferred in some other way?
- Customer service. Does the company offer phone support, email support and online help? During which hours can you access customer assistance?
How do I send money to Armenia from Singapore?
- Specialist transfer providers. Research your options to find out which companies offer transfers between Armenia and Singapore.
- Cash pickup transfer companies. MoneyGram is one well-known company that offers this service.
- Bank transfers. Ask your bank about the fees and exchange rates they offer on international transfers.
- International cheques. Check with your bank to see how much it costs to obtain an international guaranteed cheque.
How do I receive money from Armenia in Singapore?
- Specialist transfer providers. Search around for a specialist transfer company that can send funds from Armenia to Singapore.
- Cash pickup transfer companies. Start searching now for a cash pickup company that offers a transfer location close to you.
- Bank transfers. Another option is to receive a transfer in your Singapore bank account from an account in Armenia.
- International cheques. Make sure you’re aware of the fees and charges you’ll have to pay when cashing a cheque from overseas.
Emergency cash transfers in Armenia
Sometimes you need to send an overseas transfer as quickly as possible, such as if you have a loved one travelling through Armenia and they have their wallet stolen. Happily, there are some providers that can deliver the necessary funds to your beneficiary within minutes.
The bad news is that these types of transactions tend to attract higher fees and some of the lowest exchange rates going around, so you should always confirm the full cost of a transfer before going ahead.
Cash pickup locations in Armenia/ MoneyGram branches in Armenia
MoneyGram is a cash pickup transfer company with hundreds of thousands of locations around the world, including several in Armenia. You can see the details of some Armenian cash collection spots below. Phone ahead to confirm opening hours before you arrive, and make sure you have photo ID and a transaction ID number with you.
Mashtoc 10 N23 10-1
Open 9:15am to 5pm Monday to Friday, 10:45am to 3pm Saturday
- Armenian Development Bank
Paronyan Str. 21/1
Open 9:30am to 4:30pm Monday to Friday
Ankakhutyan Sq 6
Open 10am to 4pm Monday to Friday
- Armenian Development Bank
Gorki Str 73/3
Open 9:30am to 4:30pm Monday to Friday
What are the steps to send money to Armenia?
The transfer process varies from one provider to the next but you will generally need to:
- Sign up for a free online account. You will need to provide your name, proof of ID and contact information.
- Provide your transaction details. Where are you sending the money? Who will receive the money? How much are you sending and in what currency?
- Finalise your transaction. Review the cost of your transfer and then submit your transfer request. Most providers will also allow you to track the progress of your funds online.
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