Important Conditions
Currency
AMD
Service charge
No tariff applies
Service fee
No tariff applies
Withdrawal
No tariff applies
TERMS
TARIFFS
Resident and non-resident individual beneficiary over 14 years of age (1)
Receiving lump sum payments (benefits)
AMD
No tariff applied
No tariff applied
None
The same day on which the request on receiving a lump sum payment is submitted
Until the funds in the account are completely withdrawn
No tariff applied
Currency
Annual (simple) interest rate
APY (annual percentage yield)
AMD
0%
0%
According to the "Terms and tariffs for opening and servicing current accounts for individuals" in force at the Bank
Terms and conditions of remote maintenance services:
Provision of a statement and copies of a closed account at the bank branch: 1,000 AMD
1,000 AMD
How to communicate with the bank:
YOU HAVE THE RIGHT TO COMMUNICATE WITH A FINANCIAL ORGANIZATION IN YOUR PREFERRED WAY: BY POSTAL OR ELECTRONIC. RECEIVING INFORMATION ELECTRONIC IS THE MOST CONVENIENT. IT IS AVAILABLE 24/7, FREE FROM THE RISK OF LOSS OF PAPER INFORMATION, AND ENSURES CONFIDENTIALITY.
Services are provided:
In all branches of the bank
ATTENTION: INTEREST AMOUNTS ON THE FUNDS IN YOUR ACCOUNT ARE CALCULATED BASED ON A NOMINAL INTEREST RATE. THE ANNUAL INTEREST YIELD SHOWS HOW MUCH INCOME YOU WILL RECEIVE AS A RESULT OF MAKING THE MANDATORY PAYMENTS RELATED TO THE DEPOSIT AND RECEIVING THE INTEREST AMOUNTS EARNED AT A DEFINED PERIOD. YOU CAN FIND OUT THE ANNUAL INTEREST INCOME CALCULATION PROCEDURE HERE .
For the purpose of due diligence of the customer as defined by the RA Law "On Combating Money Laundering and Financing of Terrorism", the Bank may request additional documents or other information from the Customer based on the "Know your customer" principle, as well as ask additional questions to the consumer during verbal communication (if such a request exists).
You can familiarize yourself with the procedure established by the Law of the Republic of Armenia "On Guaranteeing the Compensation of Bank Deposits of Individuals" here.
In accordance with the agreement signed with the United States based on the Foreign Account Tax Compliance Act (FATCA), the Bank may collect additional information to determine the Customer's US taxpayer status.
In compliance with the Bank’s obligations under the legislation of the Republic of Armenia, including the RA Tax Code, the Common Reporting Standard (CRS) published by the Organisation for Economic Co-operation and Development (OECD), and/or other international treaties, the Bank shall provide the state and/or local self-government bodies of the Republic of Armenia and/or competent foreign authorities (hereinafter referred to as the 'Authorized Body') and/or entities designated by the latter with information constituting banking secrecy and personal data of the non-resident Customer, to which the Customer hereby gives their unconditional consent.
You can learn about the rules for opening, maintaining, and closing bank and deposit accounts here.
The terms, deadlines, and tariffs for providing statements, their duplicates, inquiries, and other information are published on the Bank's Other Services page.