Table of contents:

  1. 1. Interbank transfer
  2. 2. Amount of interbank transfer
  3. 3. Interbank transfer algorithm
  4. 4. Pros and cons of an interbank transfer in rubles
  5. 5. Is it possible to transfer money to Armenia by phone?
  6. 6. Transfers via IDPay
The article was created based on the material Link to the original.

Interbank transfer

An alternative to SWIFT transfer is an interbank transfer. It can be made from any Russian bank, but some Armenian banks do not accept transfers from sanctioned banks. You will transfer rubles and receive rubles in your bank account in Armenia.

Amount of interbank transfer

TSB RF allows transfer to yourself or another person up to 1 million $ within a month. Moreover, all this limit can be transferred in one payment.

Interbank transfer algorithm

1.Open ruble check in the bank of RA. You don't need to issue a card.
  1. Find out the bank details of the RA For interbank transfers in other currencies. In particular, specify to the operator: this is - not SWIFT transfer.
  2. Login to your personal account in the application or on the website of the Russian bank from which you will send money. Select "Transfers" - "By details".
  3. Enter the details from paragraph 2 this algorithm. Specify an Armenian bank account as a beneficiary1. In the comments to the transfer, enter your name exactly as in the contract with the recipient bank (Armenian bank), as well as the number of your ruble account with the recipient bank.

In the purpose of the transfer, write “transfer of personal funds, the recipient [your name as in the agreement with the RA bank] to the account [your account] in the bank [name of the bank], Armenia, VAT free” or “own funds transfer of [your name as in agreement with the RA bank], account number: [your account] in [bank name], Armenia, VAT does not apply” if the field does not allow Cyrillic characters
1 You can specify an account in another currency. Banks usually make these transfers. At the same time, the currency of the account is bought for rubles at a non-cash rate or a cross-rate through drams (drams are bought for rubles, the necessary currency is bought for drams).
  1. Wait for funds to arrive during the day. In some cases, you may be asked to verify their origin.
  2. If necessary, buy for received AMD rubles or other currency.

Pros and cons of an interbank transfer in rubles

Advantages of an interbank transfer in rubles

  1. Very large transfer limit (1 million $)
  2. No bank requirements
  3. You can transfer money even from a sub-sanctioned bank
  4. Usually there is no transfer fee

Cons of interbank transfer in rubles

  1. If you have a foreign currency account in a Russian bank and you want to keep funds in foreign currency in Armenia, you will have to: sell foreign currency, buy rubles, make a transfer, buy foreign currency / transfer to a foreign currency account. In this case, more favorable conditions are for transfers through the Moscow Exchange on a brokerage account
  2. Sberbank allows you to transfer money in this way only to those Armenian banks that have accounts with Sberbank
  3. Not all banks in the Republic of Armenia open accounts in rubles (transfers can be made to an account in any currency, but this will happen at the time of crediting, and not when you want / convenient for you)

Is it possible to transfer money to Armenia by phone?

Yes. In the fall of 2022, Tinkoff became available to transfer money to an account in three banks in Armenia using a phone number:
  • ACBA
  • Araratbank
  • Evoca

To send money using this method, you need to go to the “Transfers” tab, select Armenia in the list of countries, enter a phone number, select a bank or Another bank and then one of the banks from the list (if the recipient is a client of several banks, for example).

The transfer will take place at the Tinkoff dram/ruble exchange rate, and not the beneficiary bank's non-cash dram/ruble exchange rate. The course is less profitable on 2-4%.

Transfers via IDPay

Using the App IDPay you can transfer rubles from a Russian card to an Armenian one. So you can transfer up to 1 million rubles per month.
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