Below you’ll find real IDBank reviews from foreigners who’ve gone through the account-opening process in Armenia, along with the documents, fees, and steps involved.
Documents You’ll Need
Wherever you’re applying from, you start by filling out IDBank’s KYC questionnaire for non-resident individuals and sending it to the bank. If the application is approved, you’ll need to provide the following in person (or by scan, depending on the track):
- an international passport
- a residence permit in Armenia, or proof of legal stay
- a rental agreement for 6 months, or address registration
- an income tax certificate or tax return, or an employment contract (in Armenia or your home country)
We can help you open an account at IDBank — just get in touch.
A note on the reviews below: transfer limits, fees, and processing rules at Armenian banks change fairly often, and some depend on where you’re transferring from. Treat the specific numbers and limits mentioned by reviewers as a snapshot from when they wrote them, and confirm current terms directly with the bank before relying on them.
IDBank Reviews
- IDBank didn’t work out well for me in several ways — small top-up limits, an inconvenient app (which also needs to be activated separately through the Idram office), staff who weren’t well-informed (on every question I had, I either got “I don’t know” or contradictory answers), and support that never resolved my issue with IDPay.
- When I opened my account at IDBank, the manager answered “I don’t know” to a lot of my questions. They pushed a VISA Gold card on me for 8,000 AMD right away (I actually needed two cards, but they refused to issue a second one), even though simpler card options exist — they just don’t seem to offer those to non-residents. When filling out the application with a different manager, I got incorrect guidance on a few fields and had to call back later to sort it out. Apple Pay doesn’t work.
- To open an account in Armenia you’ll need a rental agreement for at least six months. From what I’ve seen, Inecobank and Ardshinbank are relatively likely to approve you, and IDBank with a foreign passport as well. Transfers over $10,000 a month reportedly get frozen, with the portion above that threshold held for around six months — supposedly this can happen even if you provide documents proving the funds are legitimate, though I can’t confirm that firsthand. Cash withdrawals work fine at branch counters, and transfers go through as long as the receiving bank isn’t under sanctions. If remote account opening matters more to you than which specific bank it’s with, opening a bank account in Kazakhstan is worth a look as an alternative.
- Here’s a useful trick for moving money between other ArCa-network banks with minimal fees — this is honestly the only reason I still use my IDBank account. Sending from an IDBank card to other ArCa cards costs 0.5% (anywhere else it’s at least 1%). And you can top up an Idram account from any ArCa card with no fee at all.
- There’s a semi-free card option, the “Visa Idram Rocket” from IDBank, but as a foreigner you first need to open a regular current account for 10,000 AMD plus pay 1,000 AMD for the account’s first month of service. You then apply for the card through the app — no extra charge for issuance or maintenance on the card itself. You can pick it up at a branch or have it delivered by courier. Afterward, you can close that initial paid account; they won’t charge you maintenance again, but they also won’t refund the 11,000 AMD you already paid.
- If you have an employment contract, IDBank offers a payroll package called IDSalary — they’ll open an account and issue either a Mastercard Standard or a Visa Gold, free of charge, on the condition that your salary gets paid onto that card.
- I recently closed out my relationship with IDBank after going through card issuance. For reference, here’s what I was charged: account opening — 10,000 AMD; account maintenance — 1,000 AMD/month or 12,000 AMD upfront for the year; card issuance — 3,000 AMD for a Mastercard, 8,000 AMD for a Visa. Total for opening with two cards came to 28,000 AMD, and after that they didn’t ask me for anything else for the rest of the year.
- For individuals, here’s what I submitted: international passport; a rental agreement for 3+ months; a 6-month bank statement from my home bank (a screenshot of just the first page of the statement was enough for them); the questionnaire from their website, filled out, signed, and scanned with my signature; and an income declaration. I also included, though they didn’t ask for it: my company’s incorporation documents, and a scanned copy of the title deed for the apartment I was renting (having one at least shows you’re not making it up). Everything gets sent to nonresident@idbank.am. The full official documents list is here.
FAQ
Can a foreigner open an account at IDBank? Yes — both personal and business accounts are available to non-residents, following the bank’s non-resident KYC process.
What documents are required? At minimum: an international passport, proof of residence or legal stay in Armenia, a rental agreement or registration, and proof of income (a tax certificate, employment contract, or bank statement).
How much does it cost to open an account and get a card? Based on reviewer reports, account opening runs around 10,000 AMD, with monthly maintenance around 1,000 AMD (or a discounted annual rate), plus a separate card issuance fee that varies by card type. Confirm current pricing with the bank, as fees can change.
Does IDBank work well with Idram? Yes — IDBank and Idram are linked, and moving money between an IDBank card and an Idram account is generally fee-free or low-cost, along with cheaper transfers to other ArCa-network banks.
Are there limits on incoming transfers? Some reviewers report large transfers (reportedly above $10,000/month) can trigger a hold on the excess amount. Limits and thresholds vary and change over time, so it’s worth confirming directly with the bank before sending a large transfer.
Is IDBank officially licensed? Yes — it operates under a license from the Central Bank of Armenia (license No. 9, issued October 1, 1991).
