YEREVAN, November 5. /ARKA/. Private money transfers sent to Armenia in the first nine months of 2021 through banks increased by about $252 million year-on-year or 23.2% to $1.340 billion, according to the Union of Banks of Armenia (UBA).

The bulk of money transfers - $549 million- came from Russia; $124 million worth remittances were sent from the USA, $45 million came from Germany, $39 million from France and $36 million from Kazakhstan.

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Acba bank is the first bank in Armenia to launch a new service of international card-to-card money transfers through a telephone number, the press service of the bank reported

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VTB Bank (Armenia) customers can now make money transfers to Visa, MasterCard, MIR, Union Pay cards issued by foreign banks, as well as to bank accounts in the EU member countries. The money is credited to the account instantly; the commission is up to 1.5% of the transfer amount, the press service of the bank reported

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Money transfers, remitted to Armenia from abroad in the first five months of 2021 through the banks increased by about $202 million or 37% from the same time span in 2020 amounting to $748 million, according to the Union of Banks of Armenia

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Individual money transfers to Armenia in the first quarter of 2021 grew by 14.7% or $52 million to $406 million, Executive Director of the Union of Banks of Armenia (UBA) Seyran Sargsyan said at a press conference on Wednesday

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Private non-commercial money transfers to Armenia in the first quarter of 2021 surged by about 47% as opposed to the same time span of 2020, according to Armen Nurbekyan, head of a central bank department of macroeconomy

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As a result of cooperation between Acba bank and Russian Sberbank, it is now possible to receive money transfers from Russia in a matter of seconds in 24/7 mode without providing banking data. A phone number is sufficient, the press service of Acba bank reported

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VTB Bank (Armenia), one of the leading banks in the country in terms of the amount of effected money transfers, provides its clients with a string of opportunities to make international money transfers, the press service of the bank said in a press release

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The Unibank has extended its special offer enabling clients to make international money transfers via the SWIFT system free of charge or at a reduced rate until March 31, 2021

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Private money transfers sent to Armenia through banks in the first seven months of 2020 dropped by 15.3% year-on-year to about $893.3 million, the Center for Economic Development Initiatives said in a report posted on its website

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