Important Conditions
Currency
AMD/USD/EUR/RUB/GBP/CNY/GEL/AED
Service charge
FREE
Service fee
FREE
Withdrawal
AMD 0.2% minimum 100 AMD
USD/EUR 1% minimum 1000 AMD
RUB/GEL/AED rate not applied
GBP 5% minimum 1000 AMD
*The cashout rate does not apply to:
• In case of cashing out bonds
• In case of cashing out interest paid on a term deposit and bonds
• In case of cashing out the amount of a term deposit, except if the term deposit agreement was terminated within 30 days after the term deposit was placed and the source of formation of the given deposit is not another deposit with a term of 30 days or more.
Plus balance percent
AMD/USD/EUR/RUB/GBP/CNY/GEL/AED
| Currency | Annual (Simple) Interest Rate | APY (Annual Percentage Yield) |
|---|---|---|
| AMD | 4% | 4.07% |
| USD | 0.5% | 0.5% |
| EUR | 0.1% | 0.1% |
| RUB | 0.5% | 0.5% |
| GBP/CNY/GEL/AED | 0% | 0% |
TERMS
TARIFFS
The terms specified in this summary may change. For detailed information, please visit the Bank’s website at www.fastbank.am, visit any Bank branch, or call the Bank’s Contact Center at (+374 10) 510 000.
Client
Resident and Non-Resident Individuals 1
Account Currency
Armenian Dram (AMD) / US Dollar (USD) / Euro (EUR) / Russian Rouble (RUB) / Pound Sterling (GBP) / Chinese Yuan (CNY) / Georgian Lari (GEL) / UAE Dirham (AED)
Opening a bank account via the "Fast Bank" website and the "FastBank Mobile" application
No fee applies
Opening a bank acOpening a bank account at a branchcount at a branch
Resident: no fee applies
Non-resident: Opening the first account: 10,000 AMD
Each subsequent account: 2,000 AMD
Opening a bank account via remote identification
50,000 AMD
Bank account maintenance
No fee applies
Account Closure
No fee applies
Minimum Balance
Not applicable
Term of Account Opening
On the same day the account opening application is submitted2
Armenian Dram / Georgian Lari / UAE Dirham (AED)
No fee applies
US dollar
1. US dollar banknotes issued prior to 1996 are not accepted
2. For 100 USD banknotes issued between 1996–2006:
· up to USD 1,000 per customer per day – no fee applies
· for amounts exceeding USD 1,000 – 1% of the excess amount
3. For other banknotes, no fee is applied
Euro
For €500 banknotes: 2%
For other banknotes, no fee
Russian roubles
5%
The service is temporarily unavailable.
British Pound Sterling (GBP)
5%
Cash Withdrawal 4
Armenian dram
0.2%, minimum: 100 AMD
US dollar/Euro
1%, minimum: 1000 AMD
Russian roubles / Georgian Lari / UAE Dirham (AED)
No fee applies
British pound sterling
5%, minimum: 1000 AMD
Acceptance and Exchange of Worn Banknotes
According to the «Tariffs of other services» effective at the Bank
Transfers
In case of submitting the order at the branch
Acceptance and Exchange of Worn Banknotes
According to the «Tariffs of other services» effective at the Bank
Credit code transfers6
200 AMD
Interbank transfers within the territory of Armenia6
In AMD: 200 AMD
In foreign currency: 3,000 AMD
Credit code transfers6
200 AMD
International transfers
According to the "International Transfer Rates" effective at the bank
ArcaPay transfers
According to the «Transfer Rates via ArcaPay system»
When the order is submitted via the “Fast Bank” web platform and the “FastBank Mobile” application
Internal bank transfers 5
Tariff does not apply
Interbank transfers within the territory of Armenia5
Tariff does not apply
Via the “Transfer to Card” service on the “Fast Bank” web platform and the “FastBank Mobile” application
0.5%
Correction of inaccuracies in payment order details upon the customer’s request
Tariff does not apply
(For SWIFT transfers: according to the “Termsa and tariffs» for Foreign Currency International Transfers by Individual and Legal Entity/Individual Entrepreneur Customers.”)
Provision of account statements at a bank branch
Tariff does not apply
Provision of a statement for a closed account at a bank branch
3 000 AMD 7
Issuance of account-related certificates at a bank branch
According to «Tariffs of other services»
Annual (simple) interest rate applied to the daily account balance and interest yield 8
Currency
Annual (simple) interest rate
APY (Interest Yield)
AMD
4%
4,07%
USD
0,5%
0,5%
EUR
0,1%
0,1%
RUB
0,5%
0,5%
GBP/CNY/GEL/AED
0%
0%
Note
1The terms for opening accounts for individuals under 18 years old are defined according to the document “Rules for Opening and Maintaining (Servicing) Bank and Deposit Accounts of Fast Bank CJSC.”
2In the case of foreign nationals or dual citizens, the account may be opened on the same day the application is submitted.
3 The exchange rate of the Central Bank of the Republic of Armenia in effect at the time of application of the tariff shall be used as the basis. Accounts in Chinese Yuan (CNY) are used for non-cash transactions only; cash transactions are not permitted.
4 The tariff does not apply to:
· cash withdrawal of a term deposit amount, except where the term deposit agreement is terminated within 30 days from the date of placement of the deposit and the source of funds for that deposit is not another deposit with a term of 30 days or more.
· In case of bond redemption.
· In the event of cash withdrawal of interest paid on fixed-term deposits and bonds.
5If the currency of the transfer account differs, the funds shall be converted at the exchange rate established by the Bank.
Intrabank transfers are processed immediately.
Interbank transfers accepted by 3:30 p.m. are processed on the same banking day. Transfers submitted after 3:30 p.m. shall be processed on the next banking day. The transferred amount shall be debited from the account immediately.
6 The fee does not apply to transfers made by the Bank for the purpose of loan refinancing.
7 Including VAT.
8 The interest amount shall be capitalized and paid on a monthly basis, no later than the 15th day of the month following the relevant month.