Send money internationally to Armenia (AMD) using the mid-market exchange rate. Check and compare the rates from the major financial providers.
Send money to Armenia
What is the best AMD exchange rate today?
How much does it cost to send money to Armenia?
- International money transfers shouldn’t be expensive.
- Make sure your provider doesn’t add hidden fees or bad exchange rates to your money transfer.
- You should choose a provider that uses the mid-market exchange rate to convert your money.
Who sends money to Armenia?
On the 777'000 Armenians living abroad, 510'000 are located in Russia, 93'000 in the United States, 50'000 in Ukraine. These people emigrate abroad for better economic life.
1.6 billion of US dollars were sent to Armenia last year. Given the biggest community of Armenians abroad is in Russia, it is not surprising that the money mainly comes from Russia for more than $1 billion, and then from the United States, Ukraine, and others European and central Asian countries.
How to send money to family in Armenia?
The solutions to send money to Armenia are mainly cash options. Among the cash services there are the traditional ones which are Western Union and MoneyGram. And then there are operators specialized in cash transfers from Russia to Armenia such as Anelik, Unistream, Blizko, Interexpress, Contact, Migom, leader, PrivatMoney and Zolotaya Korona.
How to use them? It is usually easy. The person in charge to collect the cash simply needs to present himself to an agency of the operator chosen, provides an ID and a reference number.
What to compare while sending money overseas?
The upfront transaction fee
each transfer has a flat fee announced depending on the amount sent.
The exchange rate used
the transaction fee is not the only fee you'll get on a transfer. As you're converting two currencies banks and companies take a margin on the exchange rate provided. If you're not aware about it you won't even notice. Adding the transaction fee and the fees on the exchange rate give the total cost of the transfer.
The available payment methods
wire money by bank is not the only way to send money. Another well-used method is to pay by credit card. It is faster than a bank transfer.
The available reception methods
you won't be disappointed by the numerous ways available to receive money. Bank deposit, cash pickup, physical delivery at recipient's home, mobile phone recharge, mobile wallet, even email are among the choices.
The processing time
check how many days is the transfer going to take. The point with a money transfer company is that you know exactly how long the transfer will take, point that you don't know with a bank.
The ease of use of the solution
it is useless to choose a fast operator if an account creation is long. Some are quite good and easy to use while others are a nightmare.
Compare all these criterias because first you have to know which operators allow to send money to Armenia from your country and then you can compare all their rates. As they have different policies regarding the transaction fees and exchange rates used, it is very difficult to know which one is the cheapest. Fortunately some comparison websites exist now to do all the job. These platforms check in real-time the fees taken by providers and tell what are the requirements to use these providers (documents needed, processing times and other details).