Looking for a reliable and secure way to protect your assets and investments? We offer the opportunity to open a personal account with the bank in Armenia. Thanks to its advantageous geographical location, a broad range of banking services, and favorable tariff policies, Armenia has established itself as a financial center.
If your goals require opening an account in a foreign bank, take advantage of our expert services and gain access to the banking systems of European and Asian countries to address personal and corporate challenges.
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Check the list of required documents, and get the details of the process, terms, and costs.
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Why open a personal bank account in Armenia?
Nowadays, society is facing new risks against the backdrop of a global crisis and unstable geopolitical and economic situations. To withstand recessions and other financial challenges, the first step is to prioritize personal savings and open a foreign account for travel, capital storage, investment, and profit growth.
Even if you already have one foreign bank account, we recommend hedging your assets and additionally opening a personal account with the bank in Armenia or another country.
Explore offers for private clients who can seek personal advice from our experts and open an account abroad quickly and securely in the shortest possible time.
Who can open a personal account with the Armenian bank?
Despite the apparent simplicity of service, Armenian banks are characterized by high reliability. This means that the proposed institution treats the potential client and the process of opening a personal account with extraordinary seriousness and responsibility.
To open an account with the bank in Armenia, you will need to:
- Provide the necessary package of documents and receive preliminary confirmation for opening an account
- Personally come to Yerevan to conclude a contract for the provision of banking services to a non-resident
- Get access to the bank account and all the products the financial institution offers.
According to the internal policy of the Armenian bank we offer, citizens of almost all countries of the world can open a personal account. Restrictions on establishing business relations apply only to citizens of Venezuela, Iran, and Afghanistan.
Here you can find information on servicing corporate clients in the bank in Armenia.
What documents are required to open a personal account with the bank in Armenia?
Opening a personal account with the Armenian bank is a straightforward process that requires a minimal package of documents:
- Copy of your passport
- KYC form (if applying for a card, an additional form for card issuance is required)
- Proof of address (a bank statement or utility bill no older than six months indicating the client’s address)
- Detailed CV
The mandatory requirements for opening a personal account with the Armenian bank are:
- The client’s personal presence in Yerevan (at any stage, including applying for an account, signing documents, or receiving a card).
- If the combined balance of the client’s accounts exceeds USD 500,000, proof of business interests in Armenia is required.
- When the balance on accounts exceeds USD 50,000 or its equivalent in another currency, a 2% fee is applied to the funds.
- When a non-resident personal account is replenished with a single transfer or within one month via an international transfer in an amount equal to or exceeding AMD 20 million or the equivalent in a foreign currency, the bank charges a fee of 2%.
Please note that before submitting the document package to the bank, the documents must be translated into English, notarized, apostilled, or legalized at the Armenian consulate.
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How much does it cost to open a personal account with the Armenian bank for a non-resident – tariffs
Currently, the bank has established the following service tariffs for its clients, which are charged in Armenian drams at the average exchange rate on the currency market:
- Opening a personal account (internet banking or mobile banking, one Visa or Mastercard without an annual maintenance fee) – free.
- Minimum deposit and account balance – none.
- Annual account maintenance fee – AMD 300,000.
- Cash deposits to the account:
- up to AMD 50,000 AMD – free
- AMD 50,001 AMD and above – free
- in GBP – 0.3%.
- Cash withdrawals from the account:
- if the money was deposited in cash – free
- when depositing money by non-cash means – in AMD (from 0.3%, min AMD 300) and in USD, and EUR – 2%.
- International SWIFT transfers in different currencies – from 0.2% (min AMD 15,000).
- International transfers, as per the instructions of resident correspondent banks – from AMD 3,000.
- Rent of safe deposit boxes – from AMD 5,000 per month.
These are subject to change. You can obtain more information about the tariffs of the Armenian bank from our specialists during a consultation and account opening.
Can a non-resident open a card with the bank in Armenia?
The proposed bank in Armenia offers the opening of bank cards in local and foreign currencies. Available types of cards for non-residents include Visa and Mastercard, which are accepted for servicing in most countries worldwide. Opening a card account is free. The annual servicing fee is AMD 100,000.
About the bank in Armenia
For over 20 years, the Armenian bank we recommend has been providing its services to corporate and retail customers, guided not only by internal regulations but also by the KYC (know your customer) policy and the 4th EU AML Directive (fight against money laundering). The bank’s activities are completely transparent.
Nowadays, the bank operates 51 branches, and its ATM network comprises 122 ATMs. The institution is among the top 100 best taxpayers in Armenia, and according to the latest data from Moody’s Investor Service, its rating is considered stable, or B2.
The presence of a professional team with experience in providing banking services in the European space and the Eurasian Union territory guarantees an individual and flexible approach to each client.
Advantages of having a personal Armenian bank account
Opening a personal account with the bank in Armenia provides you with the following advantages:
- Banking secrecy: In Armenia, unauthorized disclosure of banking data is a criminal offense, and disclosure is strictly regulated by law. Armenia did not participate in CRS/AEOI prior to 2025, with the exception of reporting under FATCA to the United States. The country has since committed to full CRS participation, with automatic account reporting to partner jurisdictions scheduled to commence by September 2025. Additionally, Armenia exchanges banking-related data with other CIS states through specific fiscal information-sharing protocols—but this process is not part of the OECD’s global standards.
- Security: The banking system of Armenia is reliable, and all banks are licensed and strictly regulated by the Central Bank of Armenia. The country also has a deposit insurance system.
- Brokerage services: Available to foreign clients-non-residents as individuals or legal entities.
- International transfers with zero or low fees without visiting the bank (through the bank’s mobile app).
We invite you to take advantage of our complimentary consultation and receive comprehensive assistance in opening a bank account in Armenia. You can choose any communication channel convenient for you.
