In this article, you'll discover whether Revolut works in Armenia, explore some potential drawbacks if it is available, and consider the possibilities for its use. Stay tuned to find out more.
Does Revolut Work In Armenia?
Does Revolut Work In Armenia? isn't available in Armenia. The financial technology company has not extended its services to this region, meaning users in Armenia cannot access Revolut's app or its various financial services.
As a result, residents and visitors in Armenia will need to explore alternative financial solutions for multi-currency accounts, international money transfers, and other financial services typically offered by Revolut. This limitation underscores the importance of checking the availability of financial apps in specific regions before planning their use.
Fees and Charges for Using Revolut in Armenia
Here are some general costs that users might encounter:
- Additional merchant surcharge fees: Set by the merchant (if applicable).
- Currency exchange transactions above £1,000: 1%.
- Currency exchanges on weekends: 1%.
- ATM withdrawals over £200 (or more than 5 withdrawals): 2%.
Is Revolut the Best Option in Armenia?
Even if Revolut becomes available in Armenia, it might not be the best option for users due to several limitations and restrictions that could impact its usability and cost-effectiveness.
- Limited local support: Customer service may not be available in Armenian.
- High currency conversion fees: Additional charges for converting Armenian dram.
- ATM withdrawal limits: Restrictions on the amount that can be withdrawn without fees.
- Merchant acceptance issues: Not all local merchants may accept Revolut cards.
- Regulatory compliance: Potential issues with local financial regulations.
Alternatives to Revolut in Armenia
1) OneSafe
OneSafe is a leading alternative payment solution in Armenia, offering a blend of traditional and Web3 financial services. Key features include simple onboarding, global payments, and multi-currency support. Benefits like lower fees, better customer support, and a user-friendly interface make it a superior option for businesses.
OneSafe Reviews
Users have praised OneSafe for its excellent banking services, highlighting features such as ACH, Crypto, Wire deposits, and Virtual cards. They appreciate the company's support for most businesses and express gratitude for the seamless experience. OneSafe is recognized for its user-friendly interface and efficient customer support, making it a preferred choice for many.
2) Wise
Wise offers a versatile payment solution in Armenia, featuring multi-currency accounts, low-fee international money transfers, and an international debit card. Users benefit from cost savings, fast transfers, and robust security measures. Wise's user-friendly platform and comprehensive services make it a reliable choice for managing global finances.
Wise Reviews
Wise has an overall rating of 4.7 out of 5 based on 86 reviews. Users have reported issues with money transfers being returned without notification and challenges with document approval.
Check out more Wise reviews here.
3) Paypal
PayPal offers a secure and versatile payment solution in Armenia, featuring global money transfers, online shopping, and robust fraud protection. Users benefit from linking multiple cards, fast invoicing, and enhanced buyer and seller protection, making it a reliable choice for both personal and business transactions.
Paypal Reviews
PayPal has an overall rating of 4.4 out of 5 stars. Users commonly report high transaction fees and occasional delays in fund transfers.
Check out more PayPal reviews here.
Frequently Asked Questions about Revolut in Armenia
Is Revolut available in Armenia?
No, Revolut is not currently available for users in Armenia.
Can I use my Revolut card in Armenia?
Since Revolut is not available in Armenia, you cannot use its card there.
Are there any fees for using Revolut abroad?
Yes, fees include currency exchange charges and ATM withdrawal limits when used abroad.
What are the alternatives to Revolut in Armenia?
Alternatives include OneSafe, Wise, and PayPal, offering various financial services.
Does Revolut support Armenian dram?
No, Revolut does not support transactions in Armenian dram at this time.
Begin Your Journey with OneSafe Today!
Choosing the right payment solution in Armenia is crucial for seamless financial management. While Revolut isn't available, alternatives like OneSafe offer robust features and better support. Explore OneSafe for its user-friendly interface and comprehensive services. Sign up today to start your journey with OneSafe!
