Which Armenian banks open accounts for non-residents and Russians, where Mir cards work and how to receive transfers from Russia, with terms, tariffs and news as of October 2026.
This is a reference guide to the banks of Armenia for foreigners, mainly Russian speakers who live in the country or plan to move. Armenia's banking sector is growing: as of 30 June 2026 the banks' combined assets were AMD 13.84 trillion, 19.15% more than a year earlier. Ardshinbank is first (AMD 2.87 trillion), followed by Ameriabank (AMD 2.64 trillion), Acba Bank (AMD 1.14 trillion), Inecobank (AMD 1.02 trillion) and AMIO BANK (AMD 952.2 billion). The Central Bank of Armenia's key rate has been 6.75% since 15 September 2026, and its rate on 15 October was AMD 4.3065 per ruble.
The ranking is built for Russians and Russian-speaking non-residents rather than by bank size. A few facts decide the terms you get. Since 30 March 2024 Mir cards have been accepted only by VTB (Armenia). Banks do not state a direct connection to Russia's SBP (Faster Payments System): transfers go through Multitransfer, MOST and other channels. UnionPay cards are issued by Acba Bank and Evocabank. Ameriabank and Evocabank open accounts for non-residents remotely, the second one if you have a link to Armenia.
To choose a bank, first decide what you need: an account for living in Armenia, a card for trips, a way to receive rubles from Russia, or a business account. Then compare the banks in the list below and open the review of each one that fits. Bank terms and tariffs change, so confirm the current version with the bank before applying.
The second-largest bank in Armenia by assets. It opens accounts for non-citizens remotely, issues a free digital Visa card and has the MyAmeria app.
VTB's subsidiary in Armenia, where Mir cards are accepted, with Russian-language service and transfers to Mir cards in Russia through MOST.
A bank with published tariffs for foreigners, a digital Visa for AMD 1,000 a year and transfers from Russia received through Multitransfer.
The largest bank in Armenia by assets, with a separate Visa Classic tariff for non-residents and accounts for non-resident companies and sole proprietors.
A bank with a separate remote-service procedure for non-residents, UnionPay cards and a digital Visa.
The third-largest bank in Armenia by assets and the first in the country to issue UnionPay International cards to residents and non-residents.
The fourth-largest bank in Armenia by assets, offering a free digital Visa and cards in drams, dollars, euros and rubles.
The former Armbusinessbank and the fifth-largest bank in Armenia by assets, offering service packages and Visa and Mastercard cards in four currencies.
A public universal bank with Visa, Mastercard and ArCa cards, the Profit+ salary package and shares listed on the Armenia Securities Exchange.
A large universal bank in Armenia with a Russian version of its website, Mastercard World Travel cards and a digital Visa.
A large private bank in Armenia with a Russian version of its website, C360 packages and 2% cashback on ArCa cards.
A bank with a wide range of Visa, Mastercard and ArCa cards and a Russian-language website, marking its 35th anniversary in 2026.
A bank for companies and wealthy clients with a Mastercard World Elite card and special rules for cash rubles.
Yes. Terms depend on the bank. Ameriabank accepts applications from non-citizens remotely (Russia is not on its list of countries where this is unavailable), while other banks usually require a visit in person with a passport.
Ameriabank's document list does not mention a residence permit: it asks for an identity document and a document showing your address. Other banks set their own requirements, so confirm them with the bank.
Confirmed only in VTB (Armenia)'s infrastructure: the fee for cash withdrawal is 1% with a limit of AMD 150,000 per ATM transaction. The other banks in the ArCa system stopped servicing Mir on 30 March 2024.
According to media reports, Visa and Mastercard cards issued in Russia do not work in Armenia. Cards from foreign banks and local cards are used as usual, which is why many people open a card at an Armenian bank.
Banks do not state a direct connection to Russia's SBP (Faster Payments System). Other channels are used for transfers from Russia: Multitransfer (Araratbank), transfers to VTB (Armenia) cards and accounts, and Unistream.
As of 30 June 2026 Ardshinbank leads by assets with AMD 2.87 trillion. Ameriabank, Acba Bank, Inecobank and AMIO BANK follow.
It depends on the bank. Ardshinbank charges AMD 15,000 to issue a Visa Classic and AMD 400 a month. At Ameriabank, Visa Classic costs AMD 1,000 a year and the digital Visa is free. VTB (Armenia) charges AMD 25,000 to issue MIR Travel to a non-resident.
At Acba Bank (UnionPay Gold for AMD 15,000 a year, or AMD 12,000 through the app) and at Evocabank (AMD 15,000 a year). These cards are used in China and other Asian countries where UnionPay operates.
