Money Transfer systems allow physical individuals to make fast and affordable/ inexpensive/ transfers globally without opening a bank account.

Fast Money Transfer systems’ advantages:

- fast delivery

- wide geographic coverage

- competitive prices

- simple

 You can receive the money through fast money transfer systems by submitting an online application in the Ardshinbank Mobile Banking application or on the website by following the link provided.

Our partners are the largest Money Transfer systems worldwide.

We have 66 branches in all Provinces of Armenia.

Transfer is available within 10-15 minutes* after Transfer is effected.

*in some cases, to perform additional clarifications, the mentioned period can be altered.

Cancellation of the Transfer by the Sender as well as a change of personal data is free of charge, and made upon written application of the Sender and his/her ID.

Transfers cannot be cancelled, if the payment has already been effected to the Receiver.

Correction of errors in the Transfer, as well as cancellation of the Transfer, is performed by the provider organization in accordance with the Transfer systems’ rules and time frames.

The Bank effects the transfer in the currency provided by the Sender; a few Money Transfer systems allow receipt of transferred money in a different currency depending on the destination country. The transferred money is converted at the exchange rate set by the service providing system and is paid to the Receiver in the currency fixed in the payment order.

The service fee for the Transfer made from RA is paid in Armenian Drams.

For each transaction made, the Bank provides the customer/remitter/ with an endorsed document.

Payout the remittances in foreign currency received by Money Transfer systems could be done by Bank via converting them into AMD.

To make a transfer, the sender must provide:

1. An identity document

2. The recipient’s first name, last name, and country

To receive the transfer, the recipient must provide:

1. An identity document

2. A unique code

In the case of the UBPay system, the amount and currency of the transfer must also be provided along with the unique code.

◾ The Bank processes the transfer in the currency specified by the sender. However, some money transfer systems may allow the recipient to receive the funds in a different currency, depending on the country of payment. The transferred amount is converted at the exchange rate set by the respective system and is paid out in the alternate currency. This information is indicated in the transfer order.

◾ The commission fee for transfers made from the Republic of Armenia is paid in Armenian drams.

◾ For each provided service, the Bank issues the client a document confirming the transaction.

◾ The Bank may convert foreign currency transfers received through money transfer systems into Armenian drams before paying them out.

The deadlines for filing complaints related to payments and/or transfers made by the consumer, as well as the procedures applied during the complaint process and the consumer’s rights and remedies, are determined in accordance with the Bank’s complaint handling process.

Details can be found here.