Inecobank review
Updated September 28, 2026 · VaultCue Editorial Team · Facts checked September 26, 2026
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Our verdict
Inecobank suits anyone living in Armenia who wants a bank account with nothing to pay each month and interest added to savings on a regular basis. The current account carries fees of AMD 0, and the savings balance alongside it pays 3.59% to 4.64% at a variable rate.
Key facts
- Best for
- A current account with no monthly fee and an attached savings balance that pays interest.
- Monthly fee
- AMD 0↗
- Currencies
- 4↗
- Transfer fee
- Free of charge via InecoOnline/InecoMobile; 200 AMD per interbank AMD transfer in branch; foreign currency interbank 0.2%, min AMD 12,000, max AMD 60,000↗
- Legal entity
- Inecobank CJSC↗
- Headquarters
- Armenia↗
- Founded
- 1996↗
- Support channels
- Phone, Email, Help-centre↗
- Pricing model
- No monthly fee
- Official website
- inecobank.am
Savings
- Headline rate
- 3.59% to 4.64%↗
- Rate type
- Variable↗
- Access terms
- Replenish and withdraw at any time; interest paid monthly and capitalized to the savings balance, accrued interest preserved on withdrawal; requires a current account with the bank↗
- Account kind
- Easy access↗
Facts checked September 26, 2026, 5 sources
Pros and cons
Pros
- The current account carries a monthly fee of AMD 0, and transfers through the bank's online and mobile banking are free.
- The savings balance pays 3.59% to 4.64% at a variable rate, with interest added to the balance every month.
- You can add money or withdraw whenever you like, and the interest already accrued stays with you when you withdraw.
Cons
- Currency coverage is 4, thin beside the multi-currency accounts on the site.
- Transfers in the app are free, but branch interbank transfers in the local currency cost a flat fee and foreign currency interbank transfers take a percentage with a floor and a cap.
- Support runs on phone, email and help centre, with no live chat listed.
Who it suits
- People living and working in Armenia who want a current account with nothing to pay each month and a savings balance attached.
- Anyone comfortable letting interest be added to the balance every month rather than paid out.
- Customers who value branch counter service as well as phone and email help.
Who should look elsewhere
- PayPal Colombia, whose monthly fee is $0, if you want a wallet balance rather than a current account with savings paying 3.59% to 4.64%.
- Skrill and eToro, both on a monthly fee of €0 and £0, if you want a wide currency range rather than the 4 on offer here.
Rates and card terms
The savings balance carries a variable rate, and the headline figure runs 3.59% to 4.64%. Since the rate is variable, that number follows the bank's own pricing rather than a deal locked in at opening, so it is worth checking the current figure before you compare balances.
The company behind it
Inecobank is Inecobank CJSC, based in Armenia and trading since 1996. It is licensed by the Central Bank of Armenia, listed as 68. Bank licences are the minority here, at 27.5% of the accounts on the site. Support runs on phone, email and help centre.
How Inecobank compares
9.1 vs 8.7
9.1 vs 8.6
9.1 vs 8.0
9.1 vs 8.9eToro's monthly fee is £0, and Inecobank matches it at AMD 0 while adding an easy-access savings balance paying 3.59% to 4.64%.
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 9.0Skrill's monthly fee is €0, matching Inecobank's AMD 0, but only Inecobank carries a Central Bank of Armenia licence and a savings balance that pays interest.
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 Inecobank is available
- Available
- Armenia
- Licence in Armenia
- Central Bank of Armenia (68), checked September 26, 2026
Countries from the brand (Source, checked September 26, 2026)
Frequently asked questions
What does it cost to hold an Inecobank account?+
The current account carries a monthly fee of AMD 0, and transfers through the bank's online and mobile banking are free of charge. Branch interbank transfers in the local currency cost a flat fee, and foreign currency interbank transfers take a percentage with a floor and a cap, so the channel changes what you pay.
Is my money held by a regulated bank?+
Inecobank is licensed by the Central Bank of Armenia, licence 68. A bank licence is a different promise from the e-money and payment institution licences that together cover 39.1% and 33.3% of the accounts on the site.
Can I withdraw from the savings balance at any time?+
Yes. The savings balance is easy access, so you can replenish it or withdraw at any time. Interest is paid monthly and added to the balance, and the interest already accrued stays with you when you withdraw rather than being lost.
How is interest paid on the savings balance?+
Interest is paid monthly and capitalised into the balance, so each month builds on the last. The balance pays a variable rate and the headline figure runs 3.59% to 4.64%, which makes it a straightforward home for cash you may still want to reach.
Do I need a current account to hold savings?+
You do. The savings balance requires a current account with the bank, so the two products work as a pair. That suits you if you would hold both anyway, and rules the product out if you wanted a savings balance on its own.
How many currencies can the account hold?+
The account covers 4 currencies, which places it at 183 of 379 brands on this measure. A narrow range matters less in a single market, but anyone earning or spending in several currencies would be better served by an account built for that.
How do I reach the bank for help?+
Support runs on phone, email and help centre, and phone is the quickest route for anything urgent. A help centre sits alongside email, so published terms can be checked before you open anything, though no live chat is listed.
Sources
- inecobank.am/en/Individual/account/inecosave/terms checked September 26, 2026
Backs: Headline rate, Rate type
“Annual percentage yield 3.59 - 4.64% (AMD, InecoSave savings account), updated as of 24.08.2026”
- inecobank.am/en/Individual/accounts/inecosave checked September 26, 2026
Backs: Access terms, Account kind
“With "InecoSave" you can replenish and withdraw money from your savings account whenever you want, at the same time during withdrawal the accrued interest is preserved”
- offers.inecobank.am/en checked September 26, 2026
Backs: Headquarters, Support channels
“RA, 0001, Yerevan, Tumanyan Str. 17”
- inecobank.am/en/about-inecobank checked September 26, 2026
Backs: Founded, Legal entity, Licences
“Established on February 7, 1996 (License No. 68, issued by the Central Bank of Armenia)”
- inecobank.am/en/Individual/accounts/start/terms checked September 26, 2026
Backs: Currencies, Pricing model, Monthly fee, Transfer fee
“Account opening and servicing in currencies other than AMD, USD, EUR, RUB, is carried out on a contractual basis”
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.
Inecobank
A current account with no monthly fee and an attached savings balance that pays interest.