+374 10 605555

Account Opening and Service

RA resident and non-resident legal entities and sole proprietors can open current accounts in Armenian drams and foreign currency.

To open an account, you can turn to the Head Office or any branch.


  • Required Documents

    For legal entities:

    • Application according to bank's model form;
    • Charter (for non-residents: charter or other relevant document);
    • Certificate of state registration (for non-residents: certificate of registration with relevant bodies in that country and document issued by an authorized body and recorded in tax authorities);
    • Taxpayer identification number (TIN) unless it is indicated in the certificate of state registration;
    • Passports or ID cards of senior executive officer(s), as well as extracts of appointment orders, unless the data of senior executive officer are indicated in the certificate of state registration (for non-residents: passport(s) of senior executive officer(s) and appointment decisions made by a competent body).
    • Passports or identification cards of account holders;
    • For identification of holders of 10% and more of shares in charter capital/beneficiary owners, the following documents will be required:
      • If the beneficiary owner is an individual, a photo copy of passport or identification card;
      • If the beneficiary owner is a legal entity, photo copies of the documents required under points 2, 3 and 4 hereof (for non-residents: documents required under points 2 and 3 hereof;
    • Other documents as may be required by the bank.

    For sole proprietors:

    • Application according to bank’s model form;
    • Passport or identification card;
    • Certificate of state registration (in case of its absence, extract from state registry);
    • Taxpayer identification number (TIN), unless indicated in the state registry;
    • Specimen signature card. For sole proprietors with no stamp, a relevant record is made in the signature specimen card on absence of a stamp.
    • Other documents as may be required by the bank.
  • Account Service
    • The service of your bank accounts will be regulated by RA legislation, RA Central Bank’s regulatory documents, bank account service agreement made between you and the bank;
    • The service of bank accounts is executed by the Head Office and bank branches during operational day from 9:30 a.m. to 5:00 p.m. without a break.
    • For transactions (settlement/cash) performed by your bank accounts we will charge relevant fees according to our tariffs. Note: The tariffs and rates set  for legal entities will be applied also to sole proprietors.
    • No fees will be charged for account opening and closing, nor will a minimum account balance be required.
    • You can perform any operation (cash/non-cash) by your accounts which is not prohibited by RA legislation by submitting a documentary request/order. The following operations can be performed by bank accounts:
      • Crediting funds to the account,
      • Executing money transfers from the account,
      • Withdrawing money from the account,
      • Carrying out conversion of account balance to foreign currency (according to the exchange rates set by the bank as of the transaction date),
      • Repaying loans from the current account, etc.
    • You can also manage your accounts without visiting the bank through  our systems of bank account remote (online) management.
    • Bank account transactions (cash flows, charged fees, received incomes) are fully reflected in account statements. Based on the agreement between you and the bank, account statements can be handed to you personally, sent by post service or electronically. Respective fees will be charged for duplicate  account statements and/ or other information (references) on the accounts, according to bank tariffs.
    • Timelines for depositing funds into and withdrawing them from your account:
      • The funds received in your favor will be deposited into your account no later than the banking day following the receipt of documents confirming the entry. In case of crediting cash into the account, the money will be deposited into the account on the same banking day.
      • Withdrawal of funds (transfers)  from your account will be performed on the basis of your payment order submitted to the bank; the payment orders submitted until 3:30 p.m.  will be executed on the same banking day.
  • Other Provisions Relating to Account Service
    • No limitation will be imposed on your right to manage the funds in your account.
    • Account holder's rights may be restricted by court decision, based on the application of compulsory enforcement bodies or tax authorities. The seizure of the funds from your account without your relevant instruction can be performed by the Court judgment on the basis of the application submitted by the compulsory enforcement services or tax authorities. In such cases, under RA legislation, we bear no responsibility to notify you on legal sanctions applied to you and your accounts. Such information will be furnished to you only upon imposition of relevant sanctions by phone or other means of communication (electronic/post service).
    • We guarantee the privacy of the information on you, your account, account transactions. Such information may be provided to you or your duly authorized representative only. Bank secrecy information may be furnished to state authorities and state officials solely in compliance with the RA law On Bank Secrecy.
    • Any dispute or disagreement arising between you and the bank will be resolved first and foremost through mutual negotiations, and in case of disagreement- in the manner set by RA legislation.
  • Terms of Termination of Bank Account Agreement
    • We can indisputably terminate the bank account service agreement in case you as a legal entity have not performed any transactions by your account during one year, and account balance is zero.
    • Termination of bank account agreement is a basis for closing your account.

Attention: Terms of servicing unallocated metal accounts, Deposit and Cards accounts can be found in subsections Unallocated Metal AccountsPayment Cards  and section Deposits of Banking Services for Legal Entities.

Updated 07.11.2019 | 14:04:41