Cheat sheet of financial terms

Last updated: 01.03.2023
Expected read time: 1.69 мин.

Table of contents:

  1. 1. List of sanctioned banks
  2. 2. ArCa payment system
  3. 3. SWIFT
  4. 4. SPFS

During the creation of the "Cards, transfers, currency exchange" section, we came across many new financial terms.

For your convenience, we collect them in this cheat sheet. We do not strive for academic accuracy, but we want to give you the best possible understanding.

List of sanctioned banks

After the introduction of troops into Ukraine, some banks fell under sanctions - their capabilities are limited, and international companies and financial organizations, including Armenian ones, tend not to cooperate with them.

Sub-sanctioned banks:

  • Sberbank (Sberbank)
  • VTB (but not its subsidiary VTB Armenia)
  • Promsvyazbank (PSB)
  • Alfa Bank
  • Sovcombank
  • Opening
  • Gazprombank
  • Rosselkhozbank
  • Novikombank
  • ICD
  • Russia
  • UBRD
  • SMP Bank
  • Transcapitalbank
  • Investtorgbank
  • Industrial Savings Bank
  • Black Sea Development Bank
  • Industrial Savings Bank
  • Genbank
  • RNKB
  • Far Eastern Bank
  • Rosbank.
  • Credit Bank of Moscow
  • Tinkoff
  • Alfa Bank
  • Rosbank


ArCa payment system

In Armenia there is ArCa payment system (alternative to VISA, MasterCard, MIR). It works only in RA. Not all banks open cards of this payment system.

Its capabilities for relocators:


SWIFT is an international messaging system between banks. With the help of it, financial organizations, for example, confirm transfers. SWIFT is not a payment system (like VISA or Mastercard), but a set of communication channels between banks and regulations, according to which communication takes place between them.

If the bank is not connected to SWIFT, communication with it becomes unsafe. Other banks stop various operations that were regulated by SWIFT.

In 2022, some Russian banks fell under sanctions. Among them is disconnection from SWIFT. For relocators, this means that it is impossible to transfer money between an Armenian bank and a Russian bank through the SWIFT system. An alternative is ArCa-MIR transfers and through the SPFS system.


SPFS - Financial Message Transmission System of the Bank of Russia. It is an alternative to SWIFT for transactions between Russian and Armenian banks. With the help of SPFS, you can transfer up to 1 million $ per month.

Was this article useful?
Добавлено в закладки
Для добавления в избранное необходимо зарегистрироваться