VTB (Armenia) clients can receive money transfers from Russia without commission fee

YEREVAN, November 15. /ARKA/. VTB (Armenia) retail clients can receive cross-border money transfers from Russia without commission until the end of November, the bank said in a press release.

One can instantly receive the money transfer to their account by phone number. The service is available in VTB Online application.

To make a money transfer to VTB (Armenia) client card, Russian VTB Online users need to go to the “Payments” section, then  to “To another country” option, click on the “Armenia” button, and then select the “By phone number” money transfer. Then it is necessary to choose the bank – VTB (Armenia), enter the phone number, the amount and the promo code “ASHUN”. The transaction is made in Russian rubles, and the crediting is made in AMD. Funds are credited to the account instantly.

“Cross-border money transfers are one of the most demanded services for our clients today. We not only improve the quality, speed and convenience of such transactions, but also supplement them with new functionality. Last October, VTB (Armenia) became the first bank to launch money transfers from Russia by phone number. Thanks to this, the total number of transactions has increased more than 3 times in 11 months,” commented Taras Kladchenko, Deputy General Director – Chairman of VTB (Armenia).

The maximum amount of one money transfer from Russia to Armenia by phone number is 150,00 rubles per day, and up to 600,000 rubles per month. The service is available in VTB Online for Android mobile devices and in the Internet Bank. Detailed information can be obtained on the official website of VTB (Armenia), in the bank’s branches or by calling the Contact Center at 8787.

The activities of VTB (Armenia) CJSC are regulated by the Central Bank of the Republic of Armenia. -0-

spot_img

POPULAR

In February, Armenia’s net inflow of non-commercial money transfers grew moderately after a jump in January – WB

In February, net non-commercial money transfers to Armenia grew by 5.2 percent (yoy), following a 44 percent (yoy) surge in January, according to World Bank's Armenia Monthly Economic Update – April 2026 .

Euro slashes against  Armenian dram

As of April 23, 2026, the average exchange rate for the US dollar to the Armenian dram, established in the Armenian foreign exchange market, has fallen by 0.55 points from April 22, now standing at 371.83 drams.

Armenia’s gross reserves rose to $5.5 billion in March, providing 4.1 months of import coverage – WB

Gross reserves in Armenia increased to $5.5 billion at the end of March, equivalent to 4.1 months of import coverage, according to the World Bank's "Armenia Monthly Economic Update – March 2026."

In February, commercial bank deposits in Armenia decreased by 0.2%, while lending expanded by 0.9% — World Bank

In February 2026, commercial bank deposits in Armenia decreased by 0.2% (MoM), while lending grew by 0.9% (MoM), according to the World Bank's "Armenia Monthly Economic Update – April 2026."

Armenian authorities expect capital market value to double to 1.3 trillion drams by 2031 – Pashinyan

The capital market in Armenia is projected to grow from 664 billion drams in 2025 to 1.3 trillion drams by 2031, as stated by Prime Minister Nikol Pashinyan while unveiling the election platform of the Civil Contract party.

LATEST NEWS

spot_imgspot_imgspot_img