VTB Bank review
Updated September 28, 2026 · VaultCue Editorial Team · Facts checked September 26, 2026
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Our verdict
VTB Bank suits expats and travellers in Armenia who want a local account for everyday money and a card that reaches Russian bank cards. The trade-off is cost: a monthly fee of AMD 1,900 and a headline rate of 0%, so the balance is a spending base rather than a savings pot.
Key facts
- Best for
- An everyday Armenian account for expats and travellers, with card transfers to Russian banks in 1 minute.
- Monthly fee
- AMD 1,900↗
- Currency conversion fee
- 0% to 3.5%↗
- Currencies
- 4↗
- Free ATM withdrawals
- AMD 0↗
- Transfer fee
- 1% min 200 AMD to other Armenian banks from the card account; 0.3% min 7,000 AMD in RUB; free to MIR cards of other Russian banks↗
- Legal entity
- VTB - Armenia Bank CJSC↗
- Headquarters
- Armenia↗
- Founded
- 1994↗
- Support channels
- Email, Chat, Phone, Community↗
- Audience
- Expats, Travelers
- Pricing model
- No monthly fee, Low FX fees
- Features
- Free ATM withdrawals
- Official website
- vtb.am
Savings
Money transfer
Facts checked September 26, 2026, 5 sources
Pros and cons
Pros
- Free cash machine withdrawals on the travel card, listed under free atm, with an allowance of AMD 0.
- Transfers to Russian bank cards are delivered in 1 minute and take AMD 0 as the fee.
- Conversion costs sit at 0% to 3.5%, and the exchange rate markup on card transfers is 0%.
- No minimum deposit is needed, AMD 0, and the account can be closed at any time.
Cons
- A monthly fee of AMD 1,900, against a site median of €0.
- The headline rate is 0% and the rate is variable, so the balance earns nothing while it sits in the account.
- Currency reach is 4, which ranks 183 out of 379 and sits under the 5 typical count.
Who it suits
- Expats and travellers in Armenia, the audience this account is written for.
- Anyone sending money to Russian bank cards, since those transfers land in 1 minute.
- People who want cash machine withdrawals covered, with free ATM use listed for the travel card under free atm.
Who should look elsewhere
- PayPal Colombia, where the monthly fee is $0, suits readers who want wallet payments instead of a bank account in Armenia.
- Skrill, whose monthly fee is €0, if the AMD 1,900 monthly charge here is the deciding factor.
- eToro, at a monthly fee of £0, for readers who would rather not pay AMD 1,900 each month.
How VTB Bank compares
9.4 vs 8.7
9.4 vs 8.6
9.4 vs 8.0
9.4 vs 8.9Its monthly fee is £0 against AMD 1,900 here, so a multi-currency balance costs less to keep.
9.4 vs 9.1
9.4 vs 9.2
9.4 vs 8.7
9.4 vs 8.7
9.4 vs 8.7
9.4 vs 9.0Its monthly fee is €0, which costs a reader less to hold than the AMD 1,900 charged here.
9.4 vs 8.7
9.4 vs 9.5
9.4 vs 9.4
9.4 vs 9.3
9.4 vs 9.2
9.4 vs 9.2
9.4 vs 9.2
9.4 vs 9.2
9.4 vs 9.2
9.4 vs 9.2
9.4 vs 9.1
9.4 vs 9.0
9.4 vs 9.0
9.4 vs 8.9
9.4 vs 8.9- 9.4 vs 8.9
9.4 vs 8.7
9.4 vs 8.5
9.4 vs 8.5
9.4 vs 8.5
9.4 vs 8.4
9.4 vs 8.3
9.4 vs 8.2
9.4 vs 8.1- 9.4 vs 8.1
9.4 vs 8.0
9.4 vs 8.0
9.4 vs 8.0
9.4 vs 9.1
Where VTB Bank 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
What does VTB Bank cost to keep each month?+
The everyday account carries a monthly fee of AMD 1,900, while the median monthly fee across the site is €0. Card charges sit on top, including currency conversion of 0% to 3.5% on the travel card.
Does the account pay any interest?+
The headline rate is 0% and the rate is variable, so the balance is not a way to earn. The median headline rate across the site is 3%. Anyone wanting money to grow would need a different kind of product.
What does it cost to convert currency?+
Conversion on the travel card runs 0% to 3.5%, and transfers to Russian bank cards take an exchange rate markup of 0%. For context, the widest conversion fee on the site reaches 7% against a median of 0.5%.
How many currencies can the account hold?+
The account holds 4 currencies, which places it at 183 out of 379 brands on that measure. The site median is 5, so readers who need a longer currency list will find more elsewhere.
Who regulates VTB Bank, and how safe is the money?+
The bank is regulated by the Central Bank of Armenia and trades as VTB - Armenia Bank CJSC, based in Armenia. It has operated since 1994. Because it is a bank, deposits are held by the bank itself rather than by a payments company, which is the first thing to weigh for anyone concerned about the safety of the money.
How fast are transfers to Russian bank cards, and what do they cost?+
Transfers to Russian bank cards are delivered in 1 minute and take AMD 0 as the fee. Transfers to MIR cards of other Russian banks are free, while card transfers to other Armenian banks carry a percentage charge. Payouts are made to card.
Is there a minimum deposit or a fixed term?+
There is no minimum deposit, AMD 0, and the account is easy access. The terms run indefinitely with no restrictions, credits, withdrawals and transfers in and out of Armenia are allowed, and the account can be closed at any time.
Sources
- vtb.am checked September 26, 2026
Backs: Headquarters, Support channels, Licences
“Head office: 33/3 Manandyan St, Yerevan 0006, Republic of Armenia”
- vtb.am/am/about-bank/props checked September 26, 2026
Backs: Founded
“Bank registration certificate N0386 of 25.05.1994”
- vtb.am/am/card/mir-travel checked September 26, 2026
Backs: Free ATM withdrawals, Audience, Features, Currency conversion fee, Pricing model, Transfer fee
“MIR Travel: cash withdrawal in the bank's ATMs - free”
- vtb.am/am/deposit/bank-account-1 checked September 26, 2026
Backs: Access terms, Account kind, Currencies, Headline rate, Legal entity, Minimum deposit, Monthly fee, Rate type
“Bank account: Indefinite, without additional restrictions. Credits, withdrawals, transfers: in Armenia and from Armenia”
- vtb.am/am/transfer/to-rf-bank-cards checked September 26, 2026
Backs: Delivery time, Exchange rate markup, Payout methods, Fee to send 1,000
“Transfer duration 1 minute; the transfer is carried out within 1 minute in 24/7 mode”
Compiled from 5 source pages, checked September 26, 2026. We did not open an account.
Not confirmed yet: Licence type, Deposit protection.
VTB Bank
An everyday Armenian account for expats and travellers, with card transfers to Russian banks in 1 minute.