Can I send money from The Philippines to a bank account in Armenia?
Yes, many international money transfer services allow you to send money from The Philippines directly to a bank account in Armenia. You will usually need the recipient’s full name, bank name, IBAN, and sometimes the SWIFT/BIC code for Armenia banks.
How to calculate taxes on foreign payments?
If for some reason the bank's rate on that day was higher than the Central Bank's rate (the rarest
case), the "service" received is also taxed. It is easier to follow this point than to deal with
additional calculations.
Do I need a bank account in The Philippines to send money to Armenia?
Not necessarily. Many international services operating in The Philippines offer cash transfers to Armenia, so you can send money without a bank account. However, if you’re using online banking or bank-to-bank transfer from The Philippines to Armenia, an account will be required.
What fees does Wise (TransferWise) charge for transferring money to Armenia?
Wise's fees depend on the transfer amount and chosen payment method. You can calculate the exact cost of your transfer on their website before making a transaction.
