Evocabank review
Updated September 28, 2026 · VaultCue Editorial Team · Facts checked September 26, 2026
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Our verdict
Evocabank is an Armenian bank aimed at expats and business, charging a monthly fee of AMD 0 on the current account and 0.3% on card conversion. It suits people living or working in Armenia who want several currencies in a single account, free ATM withdrawals and fixed deposit rates of 4.5% to 10.5%.
Key facts
- Best for
- An everyday account in Armenia with no monthly fee, several currencies and a fixed deposit option.
- Monthly fee
- AMD 0↗
- Currency conversion fee
- 0.3%↗
- Currencies
- 12↗
- Free ATM withdrawals
- AMD 1,000,000↗
- Transfer fee
- Intrabank 0; domestic interbank AMD 200 at branch and 0 via EvocaTouch app, USD/EUR 0.1% (min AMD 3,000, max AMD 10,000); SWIFT 0.15% (min AMD 7,000, max AMD 70,000, higher for Russia/Belarus)↗
- Legal entity
- Evocabank OJSC↗
- Headquarters
- Armenia↗
- Founded
- 1990↗
- Support channels
- Email, Phone, Chat, Help-centre↗
- Audience
- Expats, Business
- Pricing model
- No monthly fee
- Features
- Free ATM withdrawals
- Official website
- evocabank.am
Savings
- Headline rate
- 4.5% to 10.5%↗
- Rate type
- Fixed↗
- Term
- 1 to 36 months↗
- Minimum deposit
- AMD 100,000↗
- Access terms
- Term 31-1,095 days; interest paid at term end, monthly or quarterly; replenishable from 100,000 AMD; placed at Head Office and branches or via EvocaTOUCH / EvocaONLINE; early termination recalculates interest↗
- Account kind
- Fixed↗
Money transfer
- Delivery time
- 1-3 banking days for international transfers; 1 banking day for AMD transfers within Armenia↗
- Payout methods
- Bank, Card, Cash-pickup↗
- Fee to send 1,000
- AMD 7,000↗
Facts checked September 26, 2026, 9 sources
Apps and profiles
Pros and cons
Pros
- A current account covering 12 currencies
- Free ATM withdrawals to an allowance of AMD 1,000,000
- Payouts by bank, card and cash pickup
- Fixed deposit rates of 4.5% to 10.5% over a term of 1 to 36
Cons
- Fixed deposits ask for AMD 100,000 to start, and early termination recalculates the interest
- SWIFT transfers take a percentage of the amount with a minimum of AMD 7,000, and more for payments to Russia and Belarus
- Deposits are fixed over 1 to 36, so the money is not available on demand
Who it suits
- Expats who live in Armenia and want a single account across 12 currencies
- Businesses holding AMD and foreign currency balances, with intrabank transfers free and payouts by bank, card and cash pickup
- Savers who can leave AMD 100,000 in place for the full term without an early exit
Who should look elsewhere
- Plazo ES, with a monthly fee of €0, sits outside Armenia; a reader who needs an AMD deposit from AMD 100,000 under a Central Bank of Armenia licence has more here
- Skrill, at a monthly fee of €0, suits readers who only move money and have no use for the AMD 100,000 minimum and 1 to 36 term
Rates and card terms
Deposit rates are 4.5% to 10.5% at a fixed rate, running over a term of 1 to 36. The classical deposit pays interest at term end, monthly or quarterly, is replenishable from AMD 100,000, and can be placed at Head Office, in branches or through EvocaTOUCH and EvocaONLINE. Closing early recalculates the interest. On the card side, withdrawals are free to an allowance of AMD 1,000,000 and the conversion fee is 0.3%.
The company behind it
The legal entity is Evocabank OJSC, based in Armenia and dated back to 1990. Its banking licence from the Central Bank of Armenia is 27. Support runs on email, phone and chat, so a reader can reach the bank by phone, email, chat or the help centre.
How Evocabank compares
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9.4 vs 9.0Its monthly fee is €0; this bank pairs a no-charge current account with 12 currencies and free ATM withdrawals.
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Where Evocabank is available
- Available
- Armenia
- Licence in Armenia
- Central Bank of Armenia (27), checked September 26, 2026
Countries from the brand (Source, checked September 26, 2026)
Frequently asked questions
What does the Evocabank current account cost to keep?+
The monthly fee is AMD 0 and the account model is no monthly fee, so nothing is deducted for holding it. Card withdrawals are free to an allowance of AMD 1,000,000. The site median monthly fee is €0, so a no-charge account is the common band here.
What does it cost to convert currency on a card?+
The card conversion fee is 0.3%. Card payments made outside Armenia convert at that rate, while SWIFT bank transfers take a percentage of the amount with a minimum of AMD 7,000 and more for payments to Russia and Belarus. Intrabank transfers are free.
Who regulates Evocabank and what does that mean for the balance?+
Evocabank OJSC, listed as Evocabank OJSC, is a bank in AM regulated by the Central Bank of Armenia under licence 27. Support runs on email, phone and chat, including phone, email, chat and a help centre, which matters for readers opening an account remotely.
What do the deposits pay and how long are the money and interest tied up?+
The deposit is fixed and pays 4.5% to 10.5% at a fixed rate over 1 to 36. It opens from AMD 100,000 and can be replenished from the same amount. Interest is paid at term end, monthly or quarterly, and closing early recalculates the interest earned.
How many currencies can I hold and how is the account opened?+
The account covers 12 currencies, which places the bank at 90 of 379 brands on that measure. Accounts are placed at Head Office, in branches or through EvocaTOUCH and EvocaONLINE, and the stated audience is expats and business.
How quickly do transfers arrive and what do they cost?+
Intrabank transfers are free. Domestic AMD interbank transfers are free in the EvocaTouch app and carry a flat fee at the branch. International transfers settle over a few banking days, while AMD transfers inside Armenia arrive in a single banking day. Payouts are available by bank, card and cash pickup.
Sources
- evoca.am/en/deposits-tariffs checked September 26, 2026
Backs: Headline rate, Rate type
“Term-end interest payments AMD 4.50% ... 10.50% (CLASSIC TRADITIONAL ANNUAL PERCENTAGE YIELD)”
- evoca.am/en/deposits/classical-deposit checked September 26, 2026
Backs: Access terms, Account kind, Minimum deposit, Term
“The accrued interest can be received by the end of the term as well as at your preferred frequency.”
- evoca.am/en/general-information-history-key-values checked September 26, 2026
Backs: Founded, Headquarters, Legal entity, Licences
“The Bank was established in 1990 and acted till 2017 as Prometeus and Prometey Bank.”
- evoca.am/en/money-transfers checked September 26, 2026
Backs: Delivery time
“As a rule, international bank transfers in foreign currency are executed within 1-3 banking days”
- evoca.am/en/remote-service-for-non-resident-clients checked September 26, 2026
Backs: Audience, Support channels
“Even if you don't live in Armenia, you can open online bank accounts from anywhere 24/7 using Evocabank's mobile app. Both individuals and legal entities can open bank accounts online.”
- evoca.am/en/tariffs-for-commissions/accounts-tariffs/curr... checked September 26, 2026
Backs: Currencies, Pricing model, Monthly fee
“Current account currency: Armenian drams, US dollars, Euros, Russian rubles, British pounds, Swiss francs, Canadian dollars, Chinese Yuan rmb, UAE Dirhams, Japanese yens, Kazakhstani tenge,...”
- evoca.am/en/tariffs-for-commissions/cards-tariffs/tariffs... checked September 26, 2026
Backs: Free ATM withdrawals, Features, Currency conversion fee
“MasterCard Standard / Visa Classic - Cash withdrawal via Bank's ATMs and POS-terminals: Up to AMD 1,000,000 (inclusive) per month - free of charge”
- evoca.am/en/tariffs-for-commissions/transfers-tariffs/tar... checked September 26, 2026
Backs: Transfer fee, Fee to send 1,000
“Intrabank transfers in all currencies 0; In the territory of the Republic of Armenia AMD 200 from the bank office, via the EvocaTouch app 0; USD 0.1% minimum 3000 maximum 10,000 AMD”
- evoca.am/en/transfer-payment-systems checked September 26, 2026
Backs: Payout methods
“The system operates in more than 509,000 service centers of 182 countries of the world. Money transfers are executed in US dollars and euros. Commission fee: according to the tariff rates of RIA.”
Compiled from 9 source pages, checked September 26, 2026. We did not open an account.
Not confirmed yet: Licence type, Deposit protection.
Related by the facts
Guides
Evocabank
An everyday account in Armenia with no monthly fee, several currencies and a fixed deposit option.