In short: Suits non-residents who want the country's largest bank and a Visa card with a published tariff. The main limitation is that the account-opening procedure for individuals is not described on the website.
Terms for non-residents
- Non-residents
- Yes
- Remote account opening
- Check with the bank
- Visa / Mastercard
- Yes
- Russian-language support
- No / not stated
- Owner
- Beneficiary Karen Safaryan through Arins Group LLC (98.918067% of shares as of 31 July 2026)
- Founded
- 2002 (known as Ardshininvestbank until November 2014)
- Size
- AMD 2,870 billion in assets (about $7.9 billion) as of 30 June 2026, first in the country
- License
- Central Bank of Armenia license No. 83 of 25 February 2003
- Visa Classic for non-residents (from 25 March 2026)
- Issue AMD 15,000, maintenance AMD 400 a month
- Supplementary card for a non-resident
- Issue AMD 15,000, maintenance AMD 200 a month
- Visa Classic currencies
- AMD, USD, EUR, CNY
- Account for a non-resident company or sole proprietor (from 15 January 2026)
- Opening AMD 100,000, annual maintenance AMD 10,000, closing free
- App
- The bank's website is in Armenian, Russian and English
Pros
- The largest bank in the country by assets: AMD 2.87 trillion as of 30 June 2026
- A separate, published Visa Classic tariff for non-residents
- Cards in drams, dollars, euros, yuan and rubles
- A tariff for accounts of non-resident companies and sole proprietors
Cons and limits
- Account-opening terms for non-resident individuals and remote opening are not described on the website
- A non-resident card costs more than a resident card: AMD 15,000 to issue and AMD 400 a month
- Cash withdrawals at other banks' ATMs cost up to 2% with a minimum of AMD 1,500
- Support for Mir and UnionPay is not stated on the bank's official pages
## About the bank
Ardshinbank was founded in 2002, and Central Bank of Armenia license No. 83 was issued on 25 February 2003. Until November 2014 the bank was called Ardshininvestbank. The head office is at 13 Grigor Lusavorich Street in Yerevan. The beneficiary is Karen Safaryan, who owns the bank through Arins Group LLC, which holds 98.918067% of the shares (bank data as of 31 July 2026).
By assets as of 30 June 2026 it is the country's largest bank: AMD 2,870 billion, or about $7.9 billion at the Central Bank of Armenia rate of 15 October. Assets grew by 19.58% over the year. In October 2026 the bank opened a renovated STATUS premium service centre at 66 Teryan Street.
## Account for non-residents
The bank works with non-residents directly and publishes separate tariffs for them: a Visa Classic card for individuals and a settlement account for companies and sole proprietors. The procedure for a non-resident individual to open an account, and whether documents can be submitted remotely, are not described on the website. It is best to agree a plan with the bank in advance: find out which documents a Russian citizen needs and whether identification is possible without a visit.
For non-resident legal entities and sole proprietors, a tariff has applied since 15 January 2026: AMD 100,000 to open an account, AMD 10,000 a year for maintenance, and free closing on the client's request.
## Cards and payments
The main product for foreigners is Visa Classic for non-residents in AMD, USD, EUR and CNY. Issue costs AMD 15,000 and maintenance AMD 400 a month. A supplementary linked card costs AMD 15,000 to issue and AMD 200 a month. Interest is paid on balances from AMD 5,000,000 (or $10,000, EUR 10,000, CNY 65,000): 2%, 0.5%, 0.1% and 0.1% respectively.
| Non-resident card operation | Fee |
|---|---|
| Withdrawal at Ardshinbank ATMs | 0.5% |
| Withdrawal at other ArCa-network bank ATMs | 1.5% |
| Withdrawal at all other ATMs | 2%, minimum AMD 1,500 |
For residents, Visa Classic is free to issue, and maintenance is free with an average monthly balance of AMD 100,000 or more, otherwise AMD 400 a month. The bank also offers Mastercard Debit in drams, dollars, euros and rubles, and the Visa Classic Instant, Mastercard Debit Instant and Arca Instant cards, issued on the spot in drams: AMD 0 to issue, two-year validity.
The bank does not state that it services Mir or UnionPay. For Mir see VTB (Armenia); for UnionPay see Acba Bank and Evocabank.
## Who it suits
- Non-residents who value the largest bank by assets.
- Those ready to pay AMD 400 a month to maintain a Visa card.
- Non-resident company owners and sole proprietors who want a settlement account with a public tariff.
For a remote procedure with clear steps, consider Ameriabank.
Frequently asked questions
Is it really the largest bank in Armenia?
By assets as of 30 June 2026, yes: AMD 2.87 trillion against AMD 2.64 trillion at Ameriabank. The data come from the ARKA agency, and growth over the year was 19.58%.
How much does a card for a non-resident cost?
A Visa Classic for non-residents costs AMD 15,000 to issue and AMD 400 a month to maintain. The tariff applies to cards issued from 25 March 2026.
How much does cash withdrawal cost on a non-resident card?
0.5% at the bank's own ATMs, 1.5% at other ArCa-network banks' ATMs, and 2% elsewhere with a minimum of AMD 1,500.
Can a non-resident sole proprietor or company open an account?
Yes. Since 15 January 2026 opening an account costs AMD 100,000, annual maintenance AMD 10,000, and closing on request is free.
Is there a card in rubles?
Yes. Mastercard Debit is issued in drams, dollars, euros and rubles. Issue costs AMD 0, and the card is valid for five years.
Does the bank accept Mir cards?
Only VTB (Armenia) is confirmed to service Mir. There are no official data on Mir at Ardshinbank.