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Simplifying everyday banking of your business with our comprehensive account service packages!
- Accounts are opened in AMD, USD, EUR and RUR. Current accounts can also be opened in other foreign currencies (exceptionally per MC decision) for which the rates for USD dollar accounts are applied.
- The number of account replenishments and withdrawals is not limited during the effect of save account agreement.
- No interest is paid for the account balance if nothing else is stipulated by the agreement.
- The bank account of the client is opened on the day all necessary documents are submitted. In case of documents extra research necessity bank account is opened within two banking days.
- The client has the right to close the current account (dissolve the agreement) at any time without mentioning any reason. The bank may close the current account of the client (dissolve the agreement) in cases, stipulated by the Armenian legislation and the agreement of opening and servicing the bank account. The bank has the right to close the current account of the client on its own initiative:
- If the client has broken the requirement(s) of the law and/or the conditions of account opening and servicing,
- in case suspicious transaction or business relationships have been identified and CBA and/or the Board of the bank has made a resolution to terminate business relationship with the client,
- In other cases as stipulated by the Armenian legislation and/or conditions of account opening and servicing.
If the above-mentioned conditions are satisfies the current account is closed (the agreement dissolved) within one banking day if the client doesn’t have any outstanding liabilities towards the bank. The balance of the account is either returned to the client or transferred to the account at his option.
- The disputes between the bank and the client are regulated in the court of the Republic of Armenia.
- Each month the inactive bank accounts are closed. The current accounts are considered as inactive, if no transaction has been performed by any of the client’s accounts during the previous 14 months.
- The clients can manage their accounts distantly under the same conditions if they use Internet Banking service of the bank.
- All fees are charged in AMD only. Generally the fees are charged from the account balance through which the corresponding transaction has been performed; also in case of a foreign currency account the bank has the right to convert the fee amount at the rate, set by the CBA, or at the dealing rates of the bank and charge the account.
- If the fee is set in percentage, it is charged based on the total amount of the transaction.
- The accounts can be replenished or cash withdrawn each working day from 09:30 till 16:30.
| Title | Tariff* |
|---|---|
|
Opening of accounts For resident Legal entities and Private Entrepreneurs
|
AMD 1,000
|
|
Opening of accounts For non-resident Legal entities and Private Entrepreneurs
|
AMD 5,000
|
|
Opening of accounts For non-resident Legal entities and Private Entrepreneurs (overseas)
|
AMD 50,000
|
|
Additional account opening
|
AMD 1,000
|
|
Early maturity
|
N/A
|
|
Maintenance of accounts (monthly)
|
AMD 200
|
|
Minimum balance
|
AMD 1,000 (or c/v)***
|
|
Statements of account charges
|
|
|
Monthly
|
free
|
|
Duplicate up to 6 months**
|
AMD 3,000
|
|
Duplicate over 6 month**
|
AMD 6,000
|
|
Certificate of balance related to Accounts or Loans**
|
AMD 3,000
|
|
Certificate of transaction**
|
AMD 10,000
|
|
Issuance of checkbooks**
|
AMD 3,000
|
|
Stop payment
|
AMD 1,000
|
|
Check returned due to insufficient funds
|
AMD 3,000
|
|
Account closure
|
AMD 600
|
|
Validation of Internal Proxy**
|
AMD 5,000
|
|
Bank confirmation of information for audit purposes**
|
AMD 10,000
|
|
Cash Deposit into Current Accounts (AMD/USD/EUR)
|
0%
|
|
Cash Deposit into Current account for RUB
|
10%
|
|
Exchange or cash deposit of EUR 500 on any account
|
1%
|
|
Cash Withdrawal from Current Accounts against cash credits (deposits) for AMD/USD/EUR
|
0%
|
|
Cash Withdrawal from Current Accounts against cash credits (deposits) for RUB
|
0%
|
|
USD Cash Withdrawal from current accounts against non cash credits
|
0.5%
|
|
EUR Cash Withdrawal from current accounts against non cash credits
|
1%
|
|
RUB Cash Withdrawal from current accounts against non cash credits****
|
0.5%
|
|
GBP Cash Withdrawal from current accounts against non cash credits
|
0.5%
|
|
AMD Cash Withdrawal from Current Account against non cash credit
|
0.2%
|
|
Exchange of worn out Foreign Currencies quoted by the bank
|
3%
|
|
Exchange or cash deposit of USD 5, 10, 20, 50 banknotes issued before 2004 and USD 100 banknotes issued before 2009*****
|
1%
|
|
Withdrawal of USD 5, 10, 20, 50 banknotes issued before 2004 and USD 100 banknotes issued before 2009
|
0%
|
|
Interest on positive balance******
|
0-7%
|
|
Certificate on being / not being a customer of the Bank (VAT included)*******
|
10,000
|
*Tariffs are presented in AMD
**VAT included
***USD -3, EUR-2, RUB -100
****This rate is applied for cash withdrawal up to RUB 300,000, for higher amounts the rate is negotiable.
*****No fee will be charged from the Bank's customers when depositing a total of up to USD 1000 per day in said banknotes.
******The interest rate accrued on the positive balance of the account may be set by the Bank at more than 0% per annum, based on the actual or expected turnover of the client's account or the volume and nature of cooperation with the client.
*******The certificate is being issued within a maximum of 10 working days․
Note 1: GBP banknotes issued earlier than 1 January 2016 will not be accepted by the Bank.
Note 2: For cash withdrawals of AMD 20 million and USD/EUR 30,000 or more, customers need to notify the Bank at least 2 business days in advance. If prior notice is not provided, the Bank reserves the right not to execute the transaction.
The restrictions on the account-holder to handle the balance of the account, as well as the debiting of the account without the instruction of the account-holder is possible under the court resolution with the decision of the Judicial acts compulsory enactment service or tax authorities.
According to the law of the RA “On Combating against Money Laundering and Terrorism Financing” the Bank for proper investigation of clients' profile can obtain additional documents or other information as per Know your customer-principals, also during verbal communication ask additional questions from the client (in case of need).
According to an agreement with the United States of America regarding the Foreign Account Tax Compliance Act (FATCA) - the Bank may request or gather additional information in order to identify Borrower’s status as a USA taxpayer.
In accordance with the requirements of the Common Reporting Standard (CRS) established by the Organization for Economic Cooperation and Development (OECD), the Bank may collect additional information to determine whether you are a tax resident of any foreign country or territory.
Information about loans are also presented on www.fininfo.am web page, section “Your financial info center”, which is an electronic system for searching and comparing of services and makes it easy for you to choose which option is the easiest way for the most efficient option selection.
