Armenia’s breathtaking landscapes, ancient monasteries, and vibrant culture make it a unique destination where understanding how to handle money is just as important as planning your itinerary. Whether you’re exploring the bustling streets of Yerevan, shopping for handmade crafts, or dining on traditional khorovats (barbecue), this guide covers everything you need to know—what currency to bring, the best ways to get money and currency in Armenia (Armenian Dram (AMD)), cash safety tips, and essential dos and don’ts. With these insights, you’ll avoid unnecessary fees and fully enjoy Armenia’s rich history and warm hospitality.
How to pay in Armenia – cash or card?
In Armenia, both cash and card payments are utilized, with cash remaining a prevalent method, especially in certain sectors and regions. Recent data indicates that approximately half of the population exclusively uses cash for transactions, while the other half employs cashless instruments such as physical bank cards and digital banking applications.
You can use cash for:
Public Transportation: Buses, minibuses, and taxis often require cash payments.
Local Markets and Street Vendors: Purchases at traditional markets and street stalls are predominantly cash-based.
Small Businesses: Many small or family-run shops and eateries prefer cash transactions.
Tips and Gratuities: It’s customary to tip in cash for services such as dining, tour guides, and hotel staff.
Rural Areas: In less urbanized regions, electronic payment facilities may be limited, making cash essential.
You can use card for:
Hotels: Major hotels, especially in Yerevan and other tourist areas, accept credit and debit cards.
Restaurants and Cafés: Many dining establishments, particularly in urban centers, facilitate card payments.
Retail Stores: Shopping malls, branded stores, and supermarkets in larger cities commonly accept cards.
Online Services: E-commerce platforms, online bookings for flights, accommodations, and other services typically require card payments.
Fuel Stations: While many accept cards, it’s advisable to confirm beforehand, as some may prefer cash.
What’s the best currency to take to Armenia
Armenian Dram (AMD) is typically the best currency to take if you are traveling to Armenia. Paying or withdrawing money in the local currency comes with the least amount of fees, sometimes fee-free too.
US Dollars, Euros or Pounds are not widely accepted here.
Where to get currency in Armenia
There are 3 main ways to get cash in Armenia. They are: ATMs, Currency exchange, or Money transfer & local pick-up.
Types of cards to swipe in Armenia
Visa and Mastercard transactions are commonly accepted for swiping. You might also find some places that accept Amex and other cards, albeit less frequently.
Types of cards at ATMs in Armenia
If you’re withdrawing money in Armenia from an ATM, ATMs commonly accept Visa, Mastercard, Maestro, Plus, Cirrus cards. Some of them accept American Express cards. Others like JCB, UnionPay, Diners, Discover and Rupay cards are generally not accepted.
Should I exchange money before travelling to Armenia
Bringing a small amount of Armenian Dram (AMD) before traveling can be helpful for immediate expenses like taxis, tips, or small purchases. However, exchange rates outside Armenia are often less favorable, and many foreign banks do not stock AMD, making it difficult to obtain in advance.
Withdrawing AMD from ATMs in Armenia is a convenient option, as ATMs are widely available in airports, cities, and tourist areas. Most ATMs accept Visa, Mastercard, Cirrus, Plus, and Maestro cards, but check with your bank for international withdrawal fees.
It’s best to exchange currency in Armenia at banks or licensed exchange bureaus in the city, as they offer competitive rates. Airport exchange offices tend to have less favorable rates, so if exchanging money upon arrival, do so only for small amounts.
Where to withdraw currency in Armenia
The best ATMs for foreigners to use in Armenia are those owned by popular banks such as:
- Evocabank
- Ardshinbank
- Ameriabank
- ACBA Bank
- Inecobank
- Armeconom Bank
There are other banks with ATMs that also accept international debit and credit cards.
Where to exchange currency in Armenia
Common places to exchange currency in Armenia are licenced exchange bureaus or banks.
Currency Exchange Offices: In Armenia, currency exchange offices are commonly referred to as currency exchange points and are widely available in tourist areas, shopping centers, and supermarkets. Notable locations include SAS, Yerevan City supermarket chains, where exchange points are conveniently situated. These offices offer competitive rates comparable to those provided by banks.
Banks: Major banks such as Ameriabank, Ardshinbank, AraratBank, and Evocabank offer currency exchange services. These banks have branches throughout cities, providing reliable services.
The ATM Fee Saver app can help you identify good currency exchanges by displaying the nearest currency exchange on a map. The app connects you with forex locations in 100+ countries, including Armenia.
Stay away from fees-free exchange offices and airport currency exchanges: In most cases, the exchange rates and fees charged by airport currency services are not very favourable. The best place to change money in the city is usually the one where the rates are cheaper and the fees are less.
Safety of carrying cash in Armenia
Carrying money in Armenia is generally safe, especially in places like Yerevan, which have low crime rates. Petty theft and pickpocketing, on the other hand, can happen in crowded places, on public transportation, and at major tourist destinations. To keep your money safe:
- Distribute money among various pockets or bags.
- For further security, wear a money belt or carry a secret pouch.
- Handle cash with discretion, especially in crowded marketplaces or public places.
- Keep wallets in front pockets or carry a zipped crossbody bag.
Better to use debit or credit cards or pay by cash in Armenia
Use a card if it is fee-free, which means your bank does not charge any fees to swipe the card or the merchant / POS does not charge any additional fees to use the card. Also use it if you need to use the card’s insurance, you do not want to block cash for large purchases, and card swipe fees are lower than withdrawal fees.
Pay with cash by withdrawing cash from an ATM or exchanging currency, where fees on ATM withdrawals are lower than fees on swiping cards, you don’t want to leave a digital trail of your expenses, and transactions are more convenient and easier to complete.
