background-color: transparent; color: rgb(0, 0, 0);">Can a Russian citizen obtain a debit card in Armenia?

Not just any card, but one that offers cashback for transactions? What documents are required, what fees are charged by the bank, and how is cashback credited?

We analyzed all 157 debit cards currently available in Armenia and selected the 5 that offer the highest cashback rates paid out in actual money.

AFM is a platform that monitors Armenia’s financial market and provides up-to-date, detailed information on the country's banking products.

Use our card selection tool to filter and find the debit or credit card or deposit with the highest rates available, and check whether the product is accessible to non-residents.

Now, let’s take a look at the cards themselves.

Among our top five, four positions are occupied by products from Armeconombank, a bank known for actively offering cashback in cash and for its willingness to open accounts for Russian citizens.

ARMECs Standard by Armeconombank

Cashback terms: 1% on all domestic purchases. Unfortunately, the cashback is calculated and credited only at the end of the year. The card also allows you to open a credit line with a 51-day grace period.

The annual maintenance fee for the card is 15,000 AMD. Additionally, a one-time account opening fee of 50,000 AMD applies for foreign citizens.

The main drawback of the card is a 3% fee on cash withdrawals from the bank’s ATMs. Therefore, this card is best suited for non-cash payments only.

ARMECs Gold by Armeconombank

Cashback terms: 1% on all purchases. Cashback is also credited annually. The card offers the option of a credit line with a 51-day grace period.

To open the card, all you need is a passport and a social card.

The annual maintenance fee for the card is 30,000 AMD. In addition, foreign citizens are charged a one-time account opening fee of 50,000 AMD.

As in the previous case, the bank charges a 3% fee for cash withdrawals from its ATMs.

Visa Guru/Digital by Armeconombank

Cashback terms: 0.5% on purchases made in Armenia and 1% on purchases made abroad, with a total monthly limit of 10,000 AMD. Cashback is calculated and credited to the client’s account on a monthly basis. The card also offers 4% annual interest on positive account balances and the option to open a credit line with a 51-day grace period.

To open the card, you will need a passport and a social card.

The annual maintenance fee is 3,000 AMD for the physical card and 2,000 AMD for the digital card. Additionally, there is a one-time account opening fee of 50,000 AMD for foreign citizens.

A 3% cash withdrawal fee at ATMs also applies to this card.

Visa Guru Travel by Armeconombank

Cashback terms: 0.5% on purchases made in Armenia and 1% on purchases made abroad, with a total monthly cap of 10,000 AMD. Cashback is calculated and credited monthly.

The card comes with additional benefits including one free airport lounge access per year, 4% annual interest on positive account balances, Fast Track service twice a year, сoncierge service, еhree free baggage wrappings per year at Zvartnots Airport, щption to open a credit line with a 51-day grace period фтв мarious other discounts on the bank’s products and services

To apply for the card, a passport and social card are required.

As with all Armeconombank cards in this selection, there is a 3% cash withdrawal fee at ATMs, and a 50,000 AMD account opening fee applies to all foreign citizens.

The annual maintenance fee for the card is 15,000 AMD.

American Express® Cashback Card by Acbabank

Cashback terms: 1% on all card purchases and 2% on purchases made at local supermarkets (such as Yerevan City, SAS, Parma, and others). Cashback is calculated and credited at the end of the year, in cash rather than points.

The required documents include a passport, a social card, and proof of income. The income source does not have to be based in Armenia.

The card’s maintenance fee is 5,000 AMD per month. However, the bank also charges additional fees for account servicing for non-residents of Armenia: a one-time account opening fee of 15,000 AMD and a monthly account maintenance fee of 300 AMD.

Final Card Ranking

Bank	Card	Maintenance fee	Cashback	Highlights
Armeconombank	ARMECs Standard	15,000 AMD per year	1%	3% cash withdrawal fee
Armeconombank	ARMECs Gold	30,000 AMD per year	1%	3% cash withdrawal fee
Armeconombank	Visa Guru/Digital	3,000 / 2,000 AMD per year	0,5%	3% cash withdrawal fee. Travel perks incl. lounge access, Fast Track, bonuses
Armeconombank	Visa Guru Travel	15,000 AMD per year	0,5%	3% cash withdrawal fee
Acbabank	American Express® Cashback	5,000 AMD per month	1%	Unlimited airport lounge access

Now you know the best cashback debit cards offered by Armenian banks for Russian citizens.

Unfortunately, none of these cards can be obtained entirely online. Banks are required to identify new clients in person, which means that applications and supporting documents must be submitted directly at the branch.

You can, however, submit your card request through our platform.

Use the AFM service to ensure your financial decisions always work to your benefit.

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Cashback Debit Card Ranking in Armenia for Russian Citizens

Cashback Debit Card Ranking in Armenia for Russian Citizens