r/armenia • u/erickh59 • 1d ago

Money transfer?

Hi! I’m looking to transfer USD to Dram using a third-party app since my bank doesn’t support international transfers. I have come across Ria money transfer. Has anyone used it? Do you have any other recommendations? Wise was charging ~$40 USD for one transfer so trying to find alternatives. Thank you!

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5

u/Av_96 1d ago

use Moneygram app and send USD to USD and convert it yourself (you get better rates).

Fees are very minimal.

3

u/Interesting_Tank_118 1d ago

Ria or MoneyGram.

2

u/Glad-Surprise3355 18h ago

If your bank is outside Armenia, why not just use the ATM?

1

u/Glad-Surprise3355 18h ago

Bank wires are the best route, though the bank may quiz you as to the funds origin. My experience with third party apps is not good. USDT or any other crypto is seamless and you can convert to Drams via crypto teller machineat the mall but I suspect the fees are very high.

0

u/rsxrwscjpzdzwpxaujrr Yerevan 🏳️‍⚧️ 1d ago

Crypto is the best option.

2

u/SoberHye 1d ago

This trans person is right.

1

u/rsxrwscjpzdzwpxaujrr Yerevan 🏳️‍⚧️ 1d ago

Yep, I am.

1

u/Glad-Surprise3355 18h ago

How do you propose to convert it to Drams. Crypto ATM charges high fees, using an exchange platform involves a wire of fiat to your bank account and possible explanation as to source at the bank.

1

u/rsxrwscjpzdzwpxaujrr Yerevan 🏳️‍⚧️ 12h ago edited 11h ago

Never had any problems with P2P, it has no fees and the exchange rate is only 3 AMD worse from the one in the banks, but if they're not okay with that some exchanges like Binance provide you a virtual card that can be linked to Google/Apple Pay and used everywhere in Armenia, also no fees but the exchange rate is 6 AMD worse (which is basically fully compensated by their cashback).