Located in the Caucasus region and boasting a history that dates back to at least 4000 BC, the landlocked nation of Armenia is a gem few Australian travellers know about. On the other side of the coin, in the 2011 census there were more than 16,000 Australians of Armenian ancestry.
If you need to send funds between Australia and Armenia for any reason, whether helping out a family member or buying something from an Armenian seller, make sure to compare your money transfer options so that you find the most affordable solution.
Send money to Armenia with WorldRemit
WorldRemit International Money Transfers Offer
Send money online within minutes
Large range of destinations
Able to send to cash pickup locations
Send money to Armenia with WorldRemit
Send money to 110+ countries for bank deposit, instant e-wallet, mobile top-up or cash pickup at 30,000+ agent locations worldwide.
Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.
Banks versus money transfer companies
The first institution many people think of when they need to send money overseas is their bank. But while sending funds via your bank can be convenient, banks don’t offer their transfer services cheaply. They offer low exchange rates and charge high fees on transfers, which means that both you and your beneficiary in Armenia get a raw deal.
That’s why you should shop around to see whether a dedicated online money transfer company might be able to help. These providers offer superior exchange rates and more affordable fee structures than the banks, so they can save you a whole lot of money the next time you need to send funds overseas.
Jen Sends Money to Armenia
Jen wants to send a transfer of $1,000 from her new home in Melbourne to her mother in Armenia. Having fallen behind on the rent, Jen’s mother needs the money as quickly as possible to avoid being evicted. Since her bank doesn’t process exotic currencies, Jen approaches two cash pickup transfer companies to see which one offers the most affordable transfer option.
As the table below shows, Jen can save AUD $10 in transfer fees by using the first company and also send an extra USD $5 to her mother.
Sometimes you need to send an overseas transfer as quickly as possible, such as if you have a loved one travelling through Armenia and they have their wallet stolen. Happily, there are some providers that can deliver the necessary funds to your beneficiary within minutes.
The bad news is that these types of transactions tend to attract higher fees and some of the lowest exchange rates going around, so you should always confirm the full cost of a transfer before going ahead.
Cash pickup locations in Armenia/ MoneyGram branches in Armenia
MoneyGram is a cash pickup transfer company with hundreds of thousands of locations around the world, including several in Armenia. You can see the details of some Armenian cash collection spots below. Phone ahead to confirm opening hours before you arrive, and make sure you have photo ID and a transaction ID number with you.
VTB Armenia Mashtoc 10 N23 10-1 Yerevan, 0015 Open 9:15am to 5pm Monday to Friday, 10:45am to 3pm Saturday 0037410539861
Armenian Development Bank
Paronyan Str. 21/1 Yerevan, 375000 Open 9:30am to 4:30pm Monday to Friday 37410591400
Anelik Bank Ankakhutyan Sq 6 Gyumri, 3101 Open 10am to 4pm Monday to Friday 10283824
Armenian Development Bank
Gorki Str 73/3 Gyumri, 377500 Open 9:30am to 4:30pm Monday to Friday 31256575
Tips for picking up cash in Armenia
According to the Australian Government’s Department of Foreign Affairs and Trade, visitors to Armenia should exercise normal safety precautions. So if you’re picking up cash from a transfer agent, make sure to:
Take a friend along for added protection
Only visit pickup locations in areas where you feel safe
Avoid high-crime areas and flashing your cash in public
Deposit the money somewhere safe as soon as you can
What are the steps to send money to Armenia?
The transfer process varies from one provider to the next but you will generally need to:
Sign up for a free online account. You will need to provide your name, proof of ID and contact information.
Provide your transaction details. Where are you sending the money? Who will receive the money? How much are you sending and in what currency?
Finalise your transaction. Review the cost of your transfer and then submit your transfer request. Most providers will also allow you to track the progress of your funds online.
Shirley Liu is Finder's global program manager. She was previously the publisher for banking and investments and has also written comparisons for energy, money transfers, Uber Eats and many other topics. Shirley has a Master of Commerce and a Bachelor of Media, Journalism and Communications from the University of New South Wales. She is passionate about helping people find the best deal for their needs.
How likely would you be to recommend finder to a friend or colleague?
Very UnlikelyExtremely Likely
Thank you for your feedback.
Our goal is to create the best possible product, and your thoughts, ideas and suggestions play a major role in helping us identify opportunities to improve.
Important information about this website
finder.com.au is one of Australia's leading comparison websites. We compare from a wide set of banks, insurers and product issuers. We value our editorial independence and follow editorial guidelines.
finder.com.au has access to track details from the product issuers listed on our sites. Although we provide information on the products offered by a wide range of issuers, we don't cover every available product or service.
Please note that the information published on our site should not be construed as personal advice and does not consider your personal needs and circumstances. While our site will provide you with factual information and general advice to help you make better decisions, it isn't a substitute for professional advice. You should consider whether the products or services featured on our site are appropriate for your needs. If you're unsure about anything, seek professional advice before you apply for any product or commit to any plan.
Products marked as 'Promoted' or 'Advertisement' are prominently displayed either as a result of a commercial advertising arrangement or to highlight a particular product, provider or feature. Finder may receive remuneration from the Provider if you click on the related link, purchase or enquire about the product. Finder's decision to show a 'promoted' product is neither a recommendation that the product is appropriate for you nor an indication that the product is the best in its category. We encourage you to use the tools and information we provide to compare your options.
Where our site links to particular products or displays 'Go to site' buttons, we may receive a commission, referral fee or payment when you click on those buttons or apply for a product. You can learn more about how we make money here.
When products are grouped in a table or list, the order in which they are initially sorted may be influenced by a range of factors including price, fees and discounts; commercial partnerships; product features; and brand popularity. We provide tools so you can sort and filter these lists to highlight features that matter to you.
We try to take an open and transparent approach and provide a broad-based comparison service. However, you should be aware that while we are an independently owned service, our comparison service does not include all providers or all products available in the market.
Some product issuers may provide products or offer services through multiple brands, associated companies or different labelling arrangements. This can make it difficult for consumers to compare alternatives or identify the companies behind the products. However, we aim to provide information to enable consumers to understand these issues.
Providing or obtaining an estimated insurance quote through us does not guarantee you can get the insurance. Acceptance by insurance companies is based on things like occupation, health and lifestyle. By providing you with the ability to apply for a credit card or loan, we are not guaranteeing that your application will be approved. Your application for credit products is subject to the Provider's terms and conditions as well as their application and lending criteria.