How to open a bank account in Armenia for Russian citizens in 2025?

If you want to become a client of an Armenian bank in order to later get a card, open a deposit, take out a loan or make a transfer — the first step will always be opening a dram account. If you are not a citizen of Armenia, you will almost always be considered a non-resident by any Armenian bank, which means the bank is legally allowed to charge you a fee for opening and maintaining even a regular account. And, as you’ll see below, banks are happy to do so. In addition, non-residents should be ready to provide a social card and a proof of residence or a rental agreement.

We have collected information about account opening and maintenance fees for each bank in Armenia and, for your convenience, listed them from free to the most expensive options for Russian citizens. Data is current as of Q2 2025; banks may change their tariffs.

Fastbank. Account opening and maintenance are free. The only bank that serves non-residents free of charge.

Evocabank. Free account opening, but annual maintenance fee is 10,000 AMD.

Araratbank. Also opens an account for free, but charges 10,000 AMD per year for maintenance.

Converse Bank. You can open an account for free, but annual maintenance will cost 12,000 AMD.

AMIObank. The last bank on the list where you can open an account for free. Maintenance fee is 15,000 AMD per year.

Byblosbank. Account opening costs 5,000 AMD, and maintenance fee is 200 AMD per month.

ID Bank. Opens accounts for Russian citizens for 10,000 AMD and charges an additional 12,000 AMD per year for maintenance.

Artsakhbank. Account opening costs 10,000 AMD, and maintenance is 300 AMD every 3 months.

VTB bank. You can open an account for 10,000 AMD, and the same amount applies for annual maintenance.

Acbabank. Opens accounts for Russian citizens for 15,000 AMD, and monthly maintenance fee is 300 AMD.

Ardshinbank. Account opening costs 15,000 AMD, but maintenance is free.

Mellatbank. This bank also opens accounts for 15,000 AMD and does not charge any maintenance fees. There is an important condition: you must maintain a minimum balance of 10,000 AMD in your account, but this amount will be returned to you upon account closure.

Ameriabank. One of the highest account opening fees — 20,000 AMD, plus an additional 3,000 AMD for maintenance. The bank reviews the account opening application and may reject it.

Unibank. Also opens accounts for 20,000 AMD, but maintenance is free.

Inecobank. Account opening costs 25,000 AMD, but there are no annual maintenance fees.

Armeconombank. This bank charges the highest account opening fee — 50,000 AMD, but maintenance is free of charge.

Now you know what costs to expect if you decide to open a bank account in Armenia. Please note that these are only the fees for the account itself. If you choose to get a debit card, for example, it will have separate tariffs.

AFM is a platform where you’ll find not only information about bank accounts, but also other financial services in Armenia. Use AFM to stay up to date on all Armenian banking products and read our financial insights.