In order to send a SWIFT payment to ARMENIA it is highly recommended to meet the following recommendations:
- Beneficiary is required to provide supporting documentation indicating the reason for payment for transactions greater than 20 million AMD.
- Include bank code (3 digits numeric bank code to be in front of beneficiary account number), account number, full name (no initials) and address, of the beneficiary customer. Use of initials may delay receipt of funds by the beneficiary. Bank codes are required to be added in front of all beneficiary account numbers.
- Include the full legal entity type of the beneficiary (e.g., corporate, charity).
- Purpose of payment is mandatory.
- For payments to Central Bank of Armenia (CBRAAM22) the following information is required:
- Residency of the customer (1 for resident ; 2 for nonresident)
- Legal status of the customer (11 for commercial organization; 12 for non-profit organization; 21 for individual; 22 for individual entrepreneur)
- TIN 10 digits (for Legal entity or Individual Entrepreneur) or Social card (for individual)
- Name of the customer
For the following financial institutions in ARMENIA you can find a list of their correspondent banks with the currencies and nostro accounts. Also you will find an instructions how to track the payments and other useful information which will help you to send/receive a SWIFT funds transfer or investigate a status of existing payment.