Opening an Account in Unibank
Before diving into reviews of Unibank, it is important to describe the account opening procedure, which is one of the simplest available. To open an account at Unibank as a Russian citizen, you will need:
- For a limited account activation, a passport and social card is required
- For a full account, additional documents are necessary, such as Armenian residency registration, an employment contract, or a property ownership certificate.
Standard tariffs for residents may be subject to change after any request, and unexpected issues may arise when renewing the service for a second year.
Reviews of Unibank
- Opened an account today. Only needed a passport. Annual service fee is 50,000 AMD. Express card issuance costs 125,000 AMD.
- Opened an account at Unibank on Komitas Street on May 3rd—no queues at all. Took about 30 minutes, required only a foreign passport. Paid 50,000 AMD for a multi-currency card, and opening an account was optional, meaning no extra fees. The card can be collected the next day after 12 PM at the central office, or the same day for an additional 125,000 AMD.
- Guys, I flew to Yerevan for one day today. Here’s a quick summary that might help someone: Unibank opens a multi-currency account immediately with just a passport. A Classic card costs 8,000 RUB and is ready the next day (or the same day for an additional 20,000 RUB). Online banking is available after receiving the card, and SWIFT transfers are available immediately.
- Unibank is the only bank that opens accounts without hassle. Unfortunately, it’s not the best option. I still haven’t received my mobile banking password, even after visiting the bank twice. But there are simply no other banking options without a rental agreement.
- Today, I encountered a new (as per chat discussions) Unibank policy: mobile banking is now only activated after receiving the card, not at the time of application. Confirmed in two branches.
- At Unibank, if you opt for express issuance, the card is provided on the same day—unless you finalize the process just a couple of hours before closing time.
SWIFT Transfers to Unibank
For EUR transfers to Unibank from Europe, the following details are used:
Correspondent Bank: BANK OF GEORGIA, Tbilisi, Georgia
SWIFT: BAGAGE22
Beneficiary’s Bank: UNIBANK OJSC, Yerevan, Armenia
SWIFT: UNIJAM22
Beneficiary: [Beneficiary’s EUR account details]
Card Usage Abroad
- Yesterday, I used my Unibank VISA card in physical stores in Hungary. The first purchase at Rossmann was for 189 HUF, and 217.35 AMD was deducted from my account. The second purchase at DM was 299 HUF, and 346.95 AMD was deducted. The exchange rates were 0.8696 and 0.8618, respectively, while Google showed a rate of 0.88 at the time. That’s about a 2% exchange fee when converting from the exotic AMD to the also exotic HUF. Perhaps the rate would have been better for EUR/USD transactions. Contactless payments with Apple Pay worked fine.
Yesterday, I used my Unibank VISA card in physical stores in Hungary.
- The first purchase at Rossmann was 189 HUF, and 217.35 AMD was deducted from my account.
- The second purchase at DM was 299 HUF, and 346.95 AMD was deducted.
The exchange rate was 0.8696 for the first transaction and 0.8618 for the second. At the time, Google showed a rate of 0.88, meaning there was about a 2% exchange fee for converting from the rather exotic AMD to the equally exotic HUF. Perhaps the rate would have been better for EUR/USD transactions.
Contactless payments with Apple Pay work.
- The account is in USD (card account), and Unibank does not open an additional current account.
- There was no conversion to AMD.
- The USD/AMD rate is about 2% different from the market rate, which is acceptable.
- The staff is polite, and contracts are bilingual.
- 3DS authentication for the card was initially not working but was quickly fixed after sending an email to support.
Successfully Opened a Multi-Currency Card at Unibank
I managed to get a multi-currency card at the Unibank branch on Komitas Avenue, 27. Required documents: foreign and internal passports, and 50,000 AMD in cash.
- Service agreements and mobile banking contracts are bilingual.
- Login to the mobile app is via phone number, with the first password sent via SMS.
- The card is to be collected at the same branch.
- It seems that the policy on opening accounts for foreigners who have lived in Armenia for less than a year varies by branch.
Account Opening Experience at Unibank
- Used a Russian address when opening an account and a multi-currency card at Unibank.
- DigitalOcean and Netflix work; haven’t tested other services yet.
- Attempted a SWIFT transfer to pay a debt for a custom video editing laptop bought in Europe. The recipient had an account in a German bank, but the SWIFT transfer failed on Unibank’s side—possibly because the system used my Russian address instead of my Armenian one. Still unresolved. However, WISE worked fine.
Visit to Unibank (Amiryan Branch) for Account Opening
- Asked about opening a personal account.
- Only a passport was required, with same-day approval.
- Account opening and multi-currency card issuance (USD/EUR/AMD) take 3–5 business days for 50,000 AMD per year, payable upfront upon receiving the card.
One-Day Trip to Open an Account at Unibank
- Arrived in Yerevan at night and visited the Unibank Amiryan branch in the morning.
- The cashier started processing my documents, but when I requested express issuance, they said the card wouldn’t be ready for at least 24 hours—meaning I would have to reschedule my flight.
- During processing, the system suddenly crashed, and I was told that I wouldn’t be able to get my card at any branch.
- Went to the Opera branch, where they confirmed no issues, and I received my card within 3 hours.
Opening a Free Additional RUB Account at Unibank (Before May 16)
- Initially, a “non-home” branch refused to open a free additional RUB account for an existing multi-currency card.
- At the central office, they confirmed it was possible, but advised going to the original issuing branch.
- At the original branch, staff debated whether it should be free or cost 300,000 AMD per year. They promised to call back the next day.
- Surprisingly, they did call back and approved the free account.
- Returned to the branch and quickly got the RUB account added for free.
Unibank and ArCa
- Unibank is part of the ArCa network.
- They issue ArCa cards, and their ATMs accept ArCa cards as well.
Opening a Card at Unibank – Experience & Tips
- Visited Unibank’s Yerevan Mall branch on May 5 (the only branch open on Saturdays).
- Electronic queue system: It’s best to ask the security guard which option to select at the ticket kiosk.
- Waited ~30 minutes before meeting a bank employee.
- Required documents: Passport, Russian and Armenian address (hotel address works), and an Armenian mobile number (Russian number also accepted, but with some limitations).
- Filled out several forms, paid for the account, and chose a Visa Infinite card.
Caution: Wise KYC Checks on SWIFT Transfers
- Wise enforces strict KYC checks after SWIFT transfers to “third countries”.
- They may require proof of address (via utility bills), ID, residence permit, or bank statements.
- They can even close your account entirely if compliance issues arise.
- Regular $3K monthly transfers from one individual to a relative may raise banking and tax authority flags.
- Banks in between deduct fees during the transfer process.
- Transferred €200 via Wise to Unibank via SWIFT—only €180 arrived. Not satisfied with the fees.
Good News: Successful European Bank Transfer to Unibank
- Received a transfer from Europe today!
- Took 2-3 days, depending on the sender.
Visa Gold at Unibank Opera Branch
- Opened a Visa Gold for 100,000 AMD per year.
- Limits:
- Daily: 5 million AMD or 15 transactions.
- Monthly: 450 transactions.
- No extra fee for express issuance.
- Accounts opened: AMD/USD/EUR + RUB.
- Expected card pickup on Monday.
- Process was smooth, and the branch was not crowded.
- Documents required: Foreign and internal passport + social security card.
- Took about an hour in total.
- Overall, a positive experience with Unibank.
Unibank Card Renewal and Residency Tariff Update
My Unibank card was about to expire after a year under the 100,000 AMD tariff. Currently, the non-resident tariff is 50,000 AMD. I now have a one-year residence permit, but no official registration stamp.
- The old card was closed, and a new one was issued under the resident tariff for 4,000 AMD.
- IMPORTANT! Before such changes, withdraw all funds from the old card, as they cannot be transferred or accessed without the issuance and physical possession of the new card.
Branch: Komitas, near the metro.
The Trend of Criticizing Unibank
Complaining about Unibank has become trendy because they open accounts too easily—apparently, an immigrant must suffer. Then, Levon in their chat behaved unprofessionally, adding fuel to the fire.
Overall? It’s just a bank.
- Some services are more expensive, some cheaper.
- Support is sometimes better than in other banks.
- Works reliably abroad.
Unibank Did Not Refund Any Fees Today – As Expected
It seems that those who paid 50,000 AMD for a card and RUB account before they became free are not eligible for a refund.
- If you agreed to pay earlier, you must be wealthy, so the bank raises the fee 6x in the second year.
- Interesting logic: If you paid 50,000 AMD and later the fee was removed, you don’t qualify for new tariffs. But if the fee increases, you do qualify—and now owe 300,000 AMD. No refunds either way.
Unibank Express Card Delivery – 200K AMD
Unibank offered a service where a card could be delivered to the branch in 2-3 hours for 200,000 AMD.
- However, I have not seen any nameless instant cards in Armenia (except for ArCa cards without chips).
- No embossing machines available in branches.
InecoBank supposedly has a remote branch that prints cards and distributes them.
- At the central branch, I was once told that if I prepaid for express issuance and marked pickup at that location, the card might be ready by the evening.
Opening a Bank Account with a Newly Issued Passport? Not Always Possible
If you plan to pick up your passport with residency registration and immediately open an account, it might not work everywhere.
- Bank policies vary, and some may require a waiting period.
- If you mention that you’re flying out the same evening, your chances drop even further.
