You can also receive the money transferred from the USA to Armenia with GMT payment system at your home without visiting the Bank, through the delivery of transferred money by the employees of “ARMECONOMBANK” OJSC. To use the mentioned service, the transferor must select the given service while making the transfer provide the recipient's passport data, address and phone number.
The delivery of money funds with GMT payment system is is provided to the beneficiaries FREE OF CHARGE
Maximum amount of one transaction
Type of transactions
Only receipt of money funds
Speed of transfer
Transfer statute of limitations
For additional information, to get acquainted with service points and with full list of tariffs, visit www.gmtnorthamerica.com.
2. International fast money transfer systems cooperating with the bank are: "MONEYGRAM", "INTELEXPRESS", "GMT", Ria Money Transfers", "MONEYTUN" and other payment systems, the rates and features of money transfers through which are defined with Annex 1 of this information bulletin.
In case of receiving the money in foreign countries, only restrictions /amount, currency and so on/ provided by the law of the given state or the policy of the service point may apply.
3.Fast money transfers are carried out between individual customers.
4. For making a money fransfer the remitter
- submits his/her identity document to the Bank
- indicates the country and state receiving the money,
- presents the recipient of the transfer and other necessary details,
- pays the money to be fransferred and respective the commission fee (set by the System Operators/Bank) by signing the necessary documents for the transfer.
The bank provides the transferring customer a unique/ control code generated in the system at the time of transferring the money, which the sender must provide to the recipient to receive the money.
5. To make money receipt with fast money systems, the receipient
- Submits his/ her identity document to the Bank,
- reports a unique Transfer/Control Code,
- indicates the amount of money and currency,
- presents the name, surname of the person carrying out money transfer and if mentioned also the patronym,
- signs the documents certifying the receipt of the money, provides other necessary information for receiving the money and receives the money.
6. It is prohibited to receive or transfer money with expired documents.
7. The maximum period of making money funds transfer/ receipt is 1-10 minutes, except for cases when an additional verification is being carried out by the system.
8. The transferor, in the transfer made (if it turns out as a result of the inquiry that the amount has not been paid), can make a change, cancel the transfer or return the transferred money by submitting an appropriate application to the bank.
9. The change and cancellation of transferred money is carried out immediately according to the rules of transmission system.
10. The refund of the transferred amount is made within 1-3 banking days, depending on the international money transfer system. In case of a refund of the transferred amount, the customer is generally refunded only the transferred amount without commission fee (according to the rules of payment systems).
11. The bank provides a reference for the service provided to the client performing the transaction.
12. The procedure and terms of appeal by the client are defined in accordance with the internal legal acts of the Bank.
13. Money transfers in ARMECONOMBANK OJSC are carried out in different currencies according to the currencies set by the international money transfer systems and the maximum limit set per transfer (details can be found in the relevant sections for payment systems of the present bulletin). No commission fee is charged from the client receiving the money transfer in foreign currency. If the customer expresses a desire to receive the money transfer in RA currency, then the money transfer is converted into RA currency at the current exchange rate set for receiving money through payment systems at ARMECONOMBANK OJSC.
14. The statute of limitations for transfers is set in accordance with payment systems.
15. THE CUSTOMER HAS THE RIGHT TO COMMUNICATE WITH THE FINANCIAL ORGANIZATION IN THE WAY HE PREFERS, BY MAIL OR ELECTRONICALLY. RECEIVING INFORMATION ELECTRONICALLY IS THE MOST CONVENIENT. IT IS AVAILABLE 24/7, IS FREE FROM THE RISK OF LOSS OF PAPER INFORMATION AND ENSURES PRIVACY.
16. The bank may request additional documents or other information from the consumer based on the "Know your customer" principle, as well as additional questions during oral communication, for the purpose of due diligence of the customer defined by the RA Law "On Combating Money Laundering and Terrorist Financing". On contracts, agreements, partnerships, or memberships entered into by financial organizations that may have a direct impact on consumers (for example, pursuant to an agreement with the United States based on the Foreign Account Tax Compliance Act (FATCA)) the financial institution may collect additional information to determine whether you are a US taxpayer."
17. Due to various circumnstances, the Bank employee may require additional documents and information from the customer during service.
18. The Client can get acquainted with the rates of fast money transfer destinations (country, city, service points) on the website www.aeb.am or on the web pages of each system..
19. Transfers and payments with fast money transfer systems are carried out in all branches of the Bank during operating hours, and receiving money is also possible via SMS message, call, AEB MOBILE / AEB ONLINE systems (the summary of the My Transfer service is available on the bank's website: https://www.aeb.am/uploads/My_transfer_eng.pdf )
20. The Bank can provide a reference for any period on operations carried out with fast money transfer systems. Price of the reference is AMD 5000.
21. Regarding the provision of additional services, you can familiarize yourself with the list of branches and their operating hours on the website of "ARMECONOMBANK" OJSC at www.aeb.am or by calling +37410510910, 8686.
22. "YOUR FINANCIAL DIRECTORY" IS AN ELECTRONIC SYSTEM THAT FACILITATES THE SEARCH, COMPARISON OF SERVICES OFFERED TO INDIVIDUALS AND THE SELECTION OF THE MOST EFFECTIVE OPTION FOR YOU" - https://www.fininfo.am.
23. Various payment systems in cooperation with the Bank can carry out various promotions, during which changes in transfer rates are possible. You can find out about special offers and promotions by going to https://www.aeb.am/hy/hatuk-arajarkner.