IDBank review
Updated September 28, 2026 · VaultCue Editorial Team · Facts checked September 26, 2026
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Our verdict
IDBank suits expats in Armenia who want an everyday account with no monthly fee and a fixed rate deposit alongside it, supervised by the Central Bank of Armenia. The fixed deposit pays 9.05% against a typical 3% on the site, with terms running 3 to 15.
Key facts
- Best for
- Expats in Armenia who want a no fee everyday account alongside a high rate fixed deposit.
- Monthly fee
- AMD 0↗
- Currencies
- 4↗
- Transfer fee
- Free of charge between IDBank clients; to other RA banks in AMD AMD 500 at branch, free of charge online; foreign currency (USD, Euro) OUR online 0.15%, minimum AMD 10,000, maximum AMD 50,000↗
- Legal entity
- ID Bank CJSC↗
- Headquarters
- Armenia↗
- Founded
- 1990↗
- Support channels
- Phone, Community↗
- Audience
- Expats
- Pricing model
- No monthly fee
- Official website
- idbank.am
Savings
Pros and cons
Pros
- No monthly fee on the everyday account: AMD 0.
- The fixed deposit pays 9.05%, against a typical 3% elsewhere on the site.
- Deposits can be replenished, opened online or at a branch, with interest paid monthly or at maturity.
- Payouts run to bank, cash pickup and card.
Cons
- Early termination of the fixed deposit is branch only, so the 3 to 15 term cannot be shortened online.
- The account covers 4 currencies, where multi-currency listings typically run 5 or more.
- Support runs on phone and community only, with no email or live chat channel listed.
Who it suits
- Expats in Armenia who want a local bank account with no monthly fee and a fixed deposit at the same time.
- People paid in or sending US dollars and euros who are happy to move money by bank transfer.
- Savers who can leave money for the whole 3 to 15 term and want interest paid monthly or at maturity.
Who should look elsewhere
- Anyone unwilling to lock money into a term: Skrill needs no term and lists a monthly fee of €0.
- People after a broker rather than a bank deposit: eToro lists a monthly fee of £0.
- Readers wanting a wallet across many currencies rather than a 4 currency bank account: PayPal Colombia lists a monthly fee of $0.
Fees and FX
The everyday account has a monthly fee of AMD 0, and local currency transfers run AMD 0 to AMD 500 depending on whether you go online or visit a branch. Transfers between IDBank clients are free of charge. Foreign currency transfers in dollars or euros are charged online as a percentage of the amount sent, with a minimum and a maximum applied to each payment.
How IDBank compares
9.1 vs 8.7
9.1 vs 8.6
9.1 vs 8.0
9.1 vs 8.9A monthly fee of £0 on a broker account rather than a bank deposit.
9.1 vs 9.1
9.1 vs 9.2
9.1 vs 8.7
9.1 vs 8.7
9.1 vs 8.7
9.1 vs 9.0Also charges a monthly fee of €0, with no term to lock money into.
9.1 vs 8.7
9.1 vs 9.5
9.1 vs 9.4
9.1 vs 9.3
9.1 vs 9.2
9.1 vs 9.2
9.1 vs 9.2
9.1 vs 9.2
9.1 vs 9.2
9.1 vs 9.2
9.1 vs 9.1
9.1 vs 9.0
9.1 vs 9.0
9.1 vs 8.9
9.1 vs 8.9- 9.1 vs 8.9
9.1 vs 8.7
9.1 vs 8.5
9.1 vs 8.5
9.1 vs 8.5
9.1 vs 8.4
9.1 vs 8.3
9.1 vs 8.2
9.1 vs 8.1- 9.1 vs 8.1
9.1 vs 8.0
9.1 vs 8.0
9.1 vs 8.0
9.1 vs 9.1
Where IDBank is available
- Available
- Armenia
- Licence in Armenia
- Central Bank of Armenia, checked September 26, 2026
Countries from the brand (Source, checked September 26, 2026)
Frequently asked questions
How much does the IDBank everyday account cost each month?+
The everyday account has a monthly fee of AMD 0, and transfers between IDBank clients are free of charge. Local currency transfers to other banks in the country are free when sent online, while the same transfer handled at a branch is charged.
What rate does the fixed deposit pay and what are the terms?+
The fixed deposit pays 9.05% on a fixed rate, with terms running 3 to 15 and deposits of AMD 10,000 to AMD 100,000. Interest can be paid monthly or at maturity, and the deposit can be replenished as you save.
Can I get my money out early from the fixed deposit?+
Early termination is available only at branches, so the 3 to 15 term cannot be shortened online. The deposit can be opened online or in person, and top ups are allowed while the account runs.
How many currencies can the account hold?+
The account covers 4 currencies, where multi-currency listings on the site typically run 5 or more. Foreign currency transfers in dollars or euros are charged online as a percentage, with a minimum and a maximum on each payment.
Who supervises IDBank and how old is it?+
IDBank is supervised by the Central Bank of Armenia, the regulator listed for that country. The legal entity is ID Bank CJSC, headquartered in Armenia and operating since 1990. The deposit can also be opened at a branch.
How do payouts work and how fast are they?+
Payouts run to bank, cash pickup and card. Transfers accepted earlier in the day are made on the same banking day and later ones on the next banking day, with a later cut off for transfers in US dollars, euros and Russian roubles.
How do I reach someone at IDBank?+
Support runs on phone and community, so phone is the direct route with a community channel alongside it. No email or live chat option is listed. Branch access still matters, because early termination of the fixed deposit is available only at branches.
Sources
- idbank.am/en/deposits/deposit_safe/replenish checked September 26, 2026
Backs: Access terms, Account kind, Headline rate, Minimum deposit, Rate type, Term
“You are given the opportunity to receive interest at your discretion - monthly, or at the end of the term ... Early termination of the deposit agreement is available only at the Bank's branches.”
- idbank.am/en/information/about/contentfooter/history checked September 26, 2026
Backs: Founded, Support channels, Licences
“ID Bank CJSC was founded on August 1, 1990, by enterprises in the light industry sector as a joint-stock commercial bank and received the Banking license on January 10, 1991”
- idbank.am/en/information/helpfull-information/contentfoot... checked September 26, 2026
Backs: Headquarters, Legal entity
“Beneficiary Bank: ID BANK CJSC, Yerevan, Armenia”
- idbank.am/en/others/accounts/bank-account checked September 26, 2026
Backs: Audience, Currencies, Pricing model, Monthly fee
“Account opening: In case of non-resident customers of the Republic of Armenia ... In case of the first account - 10 000 AMD”
- idbank.am/en/others/other/rates checked September 26, 2026
Backs: Delivery time, Payout methods, Transfer fee, Fee to send 1,000
“Acceptance (AMD) Before 15:30 Same banking day; After 15:30 Next banking day. Acceptance (USD, EUR, RUB) Before 16:00 Same banking day”
Compiled from 5 source pages, checked September 26, 2026. We did not open an account.
Not confirmed yet: Licence type, Deposit protection, Currency conversion fee.
Related by the facts
IDBank
Expats in Armenia who want a no fee everyday account alongside a high rate fixed deposit.