{"id":250422,"date":"2022-06-29T07:30:12","date_gmt":"2022-06-29T07:30:12","guid":{"rendered":"https:\/\/armbanks.am\/2022\/06\/29\/250422\/"},"modified":"2022-06-29T07:30:12","modified_gmt":"2022-06-29T07:30:12","slug":"armenian-central-bank-reminds-of-new-law-on-cashless-payments-that-comes-into-force-from-july1-2022","status":"publish","type":"post","link":"https:\/\/armbanks.am\/en\/2022\/06\/29\/250422\/","title":{"rendered":"Armenian central bank reminds of new law on cashless payments\u00a0that\u00a0comes\u00a0into\u00a0force from July1, 2022"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><strong>YEREVAN, June 29. \/ARKA\/. <\/strong>In a statement issued today Armenia&#8217;s Central Bank reminds that under a new law passed by the parliament on June 9, starting July 1, 2022 all business transactions\u00a0worth\u00a0more than 300,000 drams (about $700) and transactions between individuals\u00a0worth\u00a0more than 500,000 drams (about\u00a0$1,100) will have to be made electronically, either through a mobile payment app, a payment terminal\u00a0or via a\u00a0bank\u00a0wire transfer. \u00a0The limit for individuals will be reduced to 300,000 drams in July 2023.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The law applies to payments for&nbsp;such&nbsp;transactions as scholarships, public procurement, medical, educational, notary, legal and consulting services, as well as pensions,&nbsp;salaries and loans. The regulator warns that transactions made illicitly in cash can be annulled.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The Central Bank said two commercial banks- Acba Bank and Ameriabank&nbsp;-have undertaken to make large-scale investments and take measures to activate the system of cashless payments&nbsp;on&nbsp;cash register machines.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It said all taxpayers will receive notifications about the new law through the information platform &#8220;Taxpayer-3&#8221; of the State Revenue Committee. After receiving the appropriate notification and informing the servicing bank, their&nbsp;cash register&nbsp;software&nbsp;will be activated by the bank.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In line with the law,&nbsp;the Central Bank&nbsp;will&nbsp;set maximum and minimum limits of commission fees on non-cash transactions.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">At the initial stage the law will come into force in Yerevan, in 2023 it will extend to regional centers, and in 2024 to the whole of Armenia.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The law is part of Prime Minister Nikol Pashinyan&#8217;s government&#8217;s plan to reduce the shadow economy. ($1 \u2013 408.39 drams). &#8211;0\u2014<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In a statement issued today Armenia&#8217;s Central Bank reminds that under a new law passed by the parliament on June 9, starting July 1, 2022 all business transactions\u00a0worth\u00a0more than 300,000 drams (about $700) and transactions between individuals\u00a0worth\u00a0more than 500,000 drams (about\u00a0$1,100) will have to be made electronically, either through a mobile payment app, a payment terminal\u00a0or via a\u00a0bank\u00a0wire transfer. \u00a0The limit for individuals will be reduced to 300,000 drams in July 2023<\/p>\n","protected":false},"author":1,"featured_media":200793,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","tstyn_error":""},"categories":[9214,9216],"tags":[],"class_list":["post-250422","post","type-post","status-publish","format-standard","has-post-thumbnail","category-banks-en-en","category-news"],"acf":[],"aioseo_notices":[],"aioseo_head":"\n\t\t<!-- All in One SEO 4.9.8 - aioseo.com -->\n\t<meta name=\"description\" content=\"In a statement issued today Armenia&#039;s Central Bank reminds that under a new law passed by the parliament on June 9, starting July 1, 2022 all business transactions worth more than 300,000 drams (about $700) and transactions between individuals worth more than 500,000 drams (about $1,100) will have to be made electronically, either through a mobile payment app, a payment terminal or via a bank wire transfer. The limit for individuals will be reduced to 300,000 drams in July 2023\" \/>\n\t<meta name=\"robots\" content=\"max-image-preview:large\" \/>\n\t<meta name=\"author\" content=\"admin\"\/>\n\t<meta name=\"google-site-verification\" content=\"l8sdBd3STQ6A37MF5AO_21FEwNPHg9tRpooOo3Wx_eQ\" \/>\n\t<link rel=\"canonical\" href=\"https:\/\/armbanks.am\/en\/2022\/06\/29\/250422\/\" \/>\n\t<meta name=\"generator\" content=\"All in One SEO (AIOSEO) 4.9.8\" \/>\n\t\t<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n\t\t<meta name=\"twitter:title\" content=\"Armenian central bank reminds of new law on cashless payments that comes into force from July1, 2022 - ArmBanks.am\" \/>\n\t\t<meta name=\"twitter:description\" content=\"In a statement issued today Armenia&#039;s Central Bank reminds that under a new law passed by the parliament on June 9, starting July 1, 2022 all business transactions worth more than 300,000 drams (about $700) and transactions between individuals worth more than 500,000 drams (about $1,100) will have to be made electronically, either through a mobile payment app, a payment terminal or via a bank wire transfer. 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The limit for individuals will be reduced to 300,000 drams in July 2023","twitter:image":"https:\/\/armbanks.am\/wp-content\/uploads\/2024\/12\/\u043f\u043e\u0441-\u0442\u0435\u0440\u043c\u0438\u043d\u0430\u043b-\u0431\u0435\u0437\u043d\u0430\u043b\u0438\u0447\u043d\u0430\u044f-\u043e\u043f\u043b\u0430\u0442\u0430-\u041a\u041a\u0410-\u0430\u043f\u043f\u0430\u0440\u0430\u0442.jpg"},"aioseo_meta_data":{"post_id":"250422","title":null,"description":null,"keywords":null,"keyphrases":null,"primary_term":null,"canonical_url":null,"og_title":null,"og_description":null,"og_object_type":"default","og_image_type":"default","og_image_url":null,"og_image_width":null,"og_image_height":null,"og_image_custom_url":null,"og_image_custom_fields":null,"og_video":null,"og_custom_url":null,"og_article_section":null,"og_article_tags":null,"twitter_use_og":false,"twitter_card":"default","twitter_image_type":"default","twitter_image_url":null,"twitter_image_custom_url":null,"twitter_image_custom_fields":null,"twitter_title":null,"twitter_description":null,"schema":{"blockGraphs":[],"customGraphs":[],"default":{"data":{"Article":[],"Course":[],"Dataset":[],"FAQPage":[],"Movie":[],"Person":[],"Product":[],"ProductReview":[],"Car":[],"Recipe":[],"Service":[],"SoftwareApplication":[],"WebPage":[]},"graphName":"","isEnabled":true},"graphs":[]},"schema_type":"default","schema_type_options":null,"pillar_content":false,"robots_default":true,"robots_noindex":false,"robots_noarchive":false,"robots_nosnippet":false,"robots_nofollow":false,"robots_noimageindex":false,"robots_noodp":false,"robots_notranslate":false,"robots_max_snippet":null,"robots_max_videopreview":null,"robots_max_imagepreview":"large","priority":null,"frequency":null,"local_seo":null,"breadcrumb_settings":null,"limit_modified_date":false,"ai":null,"created":"2025-01-25 12:26:58","updated":"2025-06-09 00:15:14","seo_analyzer_scan_date":null},"aioseo_breadcrumb":"<div class=\"aioseo-breadcrumbs\"><span class=\"aioseo-breadcrumb\">\n\t\t\t<a href=\"https:\/\/armbanks.am\/en\/\" title=\"Home\">Home<\/a>\n\t\t<\/span><span class=\"aioseo-breadcrumb-separator\">\u00bb<\/span><span class=\"aioseo-breadcrumb\">\n\t\t\t<a href=\"https:\/\/armbanks.am\/en\/category\/banks-en-en\/\" title=\"Banks\">Banks<\/a>\n\t\t<\/span><span class=\"aioseo-breadcrumb-separator\">\u00bb<\/span><span class=\"aioseo-breadcrumb\">\n\t\t\tArmenian central bank reminds of new law on cashless payments that comes into force from July1, 2022\n\t\t<\/span><\/div>","aioseo_breadcrumb_json":[{"label":"Home","link":"https:\/\/armbanks.am\/en\/"},{"label":"Banks","link":"https:\/\/armbanks.am\/en\/category\/banks-en-en\/"},{"label":"Armenian central bank reminds of new law on cashless payments\u00a0that\u00a0comes\u00a0into\u00a0force from July1, 2022","link":"https:\/\/armbanks.am\/en\/2022\/06\/29\/250422\/"}],"_links":{"self":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/250422","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/comments?post=250422"}],"version-history":[{"count":0,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/250422\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media\/200793"}],"wp:attachment":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media?parent=250422"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/categories?post=250422"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/tags?post=250422"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}