The Armenian Diaspora Remittance Flow

Armenia receives more remittances per capita than almost any other country. With large diaspora communities in Russia, the United States, France, Germany, and the United Kingdom, the flow of money back to families in Yerevan, Gyumri, and across the country represents a significant economic lifeline — estimated at 10–12% of GDP annually (World Bank, 2025).

Yet much of this money is lost in fees. Western Union charges 2–5%. Bank wire transfers add 1–3% on top of unfavourable interbank rates. MoneyGram takes a similar cut. For families receiving $200–500 per month from abroad, these fees represent real money lost — money that should be buying groceries, school supplies, or medicine, not covering the costs of the transfer infrastructure.

How GeraCash Sends Money to Armenia

GeraCash uses a different model. Instead of routing money through correspondent banking networks, GeraCash holds local currency balances in each country it operates and settles transfers between those balances. The cost of moving money from London to Yerevan is not a bank wire fee — it is a software transaction between two ledger entries.

The result: zero transfer fees for standard transfers to Armenia, and exchange rates within 0.5% of the mid-market rate at the time of transfer.

Delivery Options for Recipients in Armenia

Idram wallet — instant delivery to any Idram account. The most popular option for recipients in Armenia.
Armenian bank accounts — Ameriabank, Ardshinbank, Acba Bank, Converse Bank, and all major Armenian retail banks supported. Delivery typically within 1 business day.
GeraCash wallet — recipient opens a free GeraCash account and receives funds instantly. They can then transfer to their bank, withdraw cash, or pay bills directly from their GeraCash wallet.

Step-by-Step: Your First Transfer

Download GeraCash and create an account. Identity verification takes 2–3 minutes with a photo ID.
Add your payment method: bank card, local bank transfer, or GeraCash wallet balance.
Enter the recipient's details and their preferred delivery method (Idram, bank account, or GeraCash wallet).
Confirm the amount and the recipient receives the funds — typically within minutes for Idram, 1 business day for bank accounts.

Limits and Compliance

GeraCash is a regulated money services business. Transfers up to $1,000 per transaction are processed with standard identity verification. Higher amounts require additional KYC documentation in line with local regulations. Armenia has no restrictions on receiving remittances.

Why the Armenian Diaspora Is Switching to GeraCash

The combination of zero fees, Idram integration, and exchange rates that track the mid-market rate means that a $300 transfer to Armenia via GeraCash delivers approximately $8–15 more to the recipient compared to traditional providers — every single transfer. For families sending money monthly, that adds up to $96–180 per year.

Create your GeraCash account and make your first transfer at geracash register or learn more about remittances.