Bank Cards in Armenia for Russian Citizens: Which Banks Open Accounts and on What Terms in 2026

In 2026, Russian citizens can open a bank account and receive a debit card in Armenia, provided they complete in-person identification at a bank branch.

Conditions vary significantly. Account opening fees range from 0 to 50,000 AMD, and card issuance and maintenance tariffs differ across banks.

Below is what you need to know before visiting a branch: which banks work with Russian citizens, how much account opening costs, and how to avoid unnecessary expenses.

How Many Armenian Banks Open Accounts for Russian Citizens in 2026?

All 17 Armenian banks open accounts and issue cards to Russian citizens.

The key differences between banks typically come down to three factors:

1. Initial costs – account opening fee or non-resident service package fee
2. Card tariffs – issuance fee and annual or monthly maintenance
3. Compliance requirements – documentation list, proof of residence, and source of funds

The combination of these factors determines how simple and cost-effective it is to open an account at a specific bank.

Overall, Armenian banks tend to apply more flexible requirements to Russian citizens compared to certain other non-resident categories. In many cases, notarized documents are not required, and the documentation package is more straightforward. However, final requirements depend on the individual bank and the applicant’s profile.

Account Opening and Maintenance Conditions

When comparing banks, it is important to consider not only the cost of the card itself but also the account opening fee. For non-residents, initial onboarding costs often represent the largest upfront expense.

Below are starting conditions in 2026: one-time account opening fee for non-residents, an example of a basic debit card (non-premium), and available account currencies.

The table reflects the minimum entry-level costs associated with opening an account and receiving a card, rather than the full tariff schedules of each bank.

Account Opening Fees and Card Conditions (2026)

This overview highlights that while all banks open accounts for Russian citizens, the total cost of entry varies widely. In some cases, the card itself is free but account maintenance is charged separately. In others, the account opening fee is higher, but ongoing card maintenance may be minimal.

Understanding the full cost structure, not just the card issuance fee, is essential when selecting a bank.

Example: When There Is No Account Opening Fee, but Ongoing Costs Are Higher

Let’s compare two banks from the table – Evocabank and Ameriabank.

Conditions

Evocabank

1. Account opening: 0 AMD
2. Account maintenance: 10,000 AMD per year

Ameriabank

1. Account opening: 20,000 AMD
2. Card maintenance: 0 AMD

Total Cost Over Different Periods

What This Means

In the first year, Evocabank is cheaper by 10,000 AMD.

By the second year, total costs are equal.

By the third year, Evocabank becomes 10,000 AMD more expensive.

If a client focuses only on the absence of an account opening fee, they may overlook the annual maintenance charge. Over time, this leads to higher total expenses.

If you plan to use the account for more than one year, the tariff structure becomes more important than the one-time onboarding fee.

Where Are the Most Practical Options for Russian Citizens in 2026?

For most Russian clients, “favorable” conditions typically mean low upfront costs, reasonably priced basic cards, and a functional online banking system after identification.

1) If You Want Minimal Fees and a Simple Basic Card

Fast Bank appears to be one of the more cost-efficient options. There is no account opening fee, and certain basic card options are available free of charge.

2) If Free Cards and Same-Day Issuance Matter

Ardshinbank stands out with its two-tier structure: free basic cards alongside premium paid options. In addition, non-personalized cards may be issued more quickly.

3) If You Prioritize Strong Mobile Banking and Stable Service

Ameriabank is often considered in this category. However, it is important to understand its pricing structure: some cards come with free maintenance, while premium products involve monthly fees.

4) If You Are Considering a Digital-Focused Bank

With Evocabank, a key point to consider is that maintenance costs for non-residents may be significantly higher than standard resident tariffs. This should be calculated in advance to avoid unexpected long-term costs.

In-Person Identification Is Mandatory

For non-residents, opening the first account in Armenia cannot be done entirely online. The bank is legally required to verify your identity in person - this is a regulatory obligation, not a discretionary policy.

This means:

1. Initial identification cannot be completed via video or website
2. The first account cannot be opened remotely
3. A representative cannot complete the onboarding process on your behalf

You must visit a branch once, sign the documents, and complete identity verification.

After that, the format changes. Most banks allow you to:

1. Order additional cards online
2. Issue virtual cards
3. Manage accounts through mobile banking
4. Conduct transactions remotely

In simple terms: one in-person visit – followed by full access to online banking.

It is also important to note that compliance requirements vary between banks. Some institutions may request additional proof of income — such as an employment contract, bank statements, or clarification of source of funds. This is especially relevant when opening accounts expected to have high turnover or foreign currency transactions.

Can You Transfer Money to Russia?

Yes, transfers to Russia are possible, but the mechanism depends on the payment system used.

Main Transfer Routes

1. To Russia – Transfers may be made through the MIR payment system, depending on the bank’s tariffs and technical setup.
2. Within Armenia – Transfers are possible to MIR cards issued by VTB Bank (Armenia) and other banks connected to the system.
3. To Partner Networks – Transfers may also be available to Belkart (Belarus) and Uzcard (Uzbekistan) cards, subject to active inter-system agreements.

It is important to understand that MIR is a separate payment system, operating under different rules than international systems such as Visa and Mastercard.

What Documents Do Russian Citizens Need?

The basic document package for opening an account in Armenia is generally limited.

In most banks, the following is required:

1. Valid passport
2. Residential address (in Armenia or abroad)
3. Proof of source of income – upon request

The last requirement depends on the bank’s internal policy and the customer’s profile. If expected turnover is modest, documentation requirements are usually minimal. For larger volumes or foreign currency transactions, compliance checks become more detailed.

FAQ

Can Russian citizens open a card fully remotely?

Short answer: no, if you are not already a client of the bank. To receive a card, you must first open an account. Initial account opening requires in-person identification. If you have not previously undergone identification with the bank, this step cannot be completed remotely.

Is a residence permit required?

In most cases, no.

Can I open an account in RUB in Armenia?

Yes. Russian ruble accounts are available at most banks.

How long does it take to receive a card?

Non-personalized cards may be issued on the same day in certain banks – typically within one business day. Personalized cards bearing the holder’s name take longer to produce, usually between 3 and 7 business days.

Conclusion: Where Is It Best for a Russian Citizen to Open a Bank Card in 2026?

In 2026, Armenia remains one of the more accessible and predictable jurisdictions for Russian citizens seeking a foreign bank account.

All Armenian banks serve Russian nationals. However, account opening terms, fees, and compliance requirements vary depending on each bank’s internal policies.

It is important to understand that there is no universally “best” bank. There is only the bank that best fits your specific objective.

If your priority is low upfront costs and a simple basic solution, Fast Bank may be a rational starting point.

If you value strong mobile banking, stable service, and well-developed digital infrastructure, Ameriabank is often considered by clients for its advanced mobile banking capabilities.

If you are looking for a broad selection of free cards and flexible tariff options, Ardshinbank remains a popular choice.

If your main priority is transfers to Russia, you should verify MIR payment system support in advance and consider VTB Bank (Armenia), particularly its MIR Travel card, subject to the bank’s current tariffs.

The approach of “define the objective first, then choose the bank” helps avoid unnecessary fees, repeat branch visits, and unexpectedly high long-term servicing costs.