Armenia has become an increasingly attractive destination for IT companies, startups, and service-based businesses working with clients around the world. As more Armenian entrepreneurs enter global markets, understanding how to receive international payments in USD and EUR becomes essential for smooth operations and sustainable growth.
Whether you are a registered Company or a sole proprietor (IP), choosing the right payment method affects your fees, transfer speed, compliance requirements, and overall financial efficiency.
In this article, we will break down the most common methods, explain how each option works, outline their requirements and limitations, and help you understand which solution may be the best fit for your business model.
- Bank Transfers (SWIFT):
Most Armenian companies use traditional bank transfers.
How it works
A foreign client sends money via SWIFT directly to your Armenian business bank account in USD or EUR.
For an international bank transfer in foreign currency, you must submit a duly filled-out payment order (usually Bank employees assist you with filling out the payment order).
Major Banks in Armenia
- Ameriabank
- ACBA Bank
- Ardshinbank
- Inecobank
- EvocaBank
- ConverseBank
Requirements
- Business bank account (from USD account to USD account, same to other rates)
- Contract or invoice (banks may request documentation)
Fees
- International bank transfers in foreign currency are executed according to Bank tariffs.
- The fee is 10 000 AMD. If you pay an additional 10,000 AMD, you can send the full amount without any deductions.
Term:
As a rule, international bank transfers in foreign currency are executed within 1-5 banking days. The duration of money transfers depends on the number of banks involved in transferring funds between banks.
- Wise Business
Wise (TransferWise) is widely used by Armenian IT companies and freelancers.
Benefits
- Lower fees than SWIFT (usually over $ 10)
- Faster transfers
- Multi-currency accounts
- Easy integration with platforms
Limitations
- Some features may not be fully available depending on residency
- Requires verification and business documentation
- Requires registration/ opening an account
- Stripe for Online Payments
Stripe is a payment service provider that millions of businesses use to accept payments, send payouts, and manage their businesses online.
You might see a charge on your bank statement saying “STRIPE”. In most cases, you’ve purchased something from a business that uses Stripe to process their payments, and the business name wasn’t reflected correctly on your bank statement.
Frequently Asked Questions.
I was a victim of fraud. What should I do?
If you believe you have been a victim of fraud, report the fraudulent charge to your bank and file a dispute. When you file a dispute, your bank passes all relevant details to Stripe. We use this data in our ongoing effort to combat fraud.
What should I do if I don’t recognize a charge from Stripe?
If you notice an unknown charge saying “STRIPE” on your bank statement and you’re unsure which business has charged you, you can use our secure charge lookup tool to search for the business.