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Unallocated metal accounts

Open an unallocated metal account designed for unallocated gold accounting. Unallocated metal accounts are demand accounts enabling the account holder to make non-cash savings and increase them as gold price rises on international markets.
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Terms and Conditions of Opening and Maintaining Metal Accounts
  • Accounts can be opened both for RA resident and non-resident customers.
  • Metal accounts can be opened only for gold of 999.9 purity, without the requirement of account minimum balance.
  • Unallocated gold from 31 grams (gold prices - per gram) can be obtained from the bank. Gold prices are published on our website on a daily basis showing the fluctuations in gold prices on international markets.
  • Unallocated gold accounting is performed in Armenian drams with the estimated price for gold  and weight expressed in grams- with 0.01 gram or troy ounce  accuracy (one troy ounce is equal to 31.10348 grams), announced by the Central Bank of RA.
  • While opening metal account(s), the bank is governed by RA legislation, normative acts, decisions of RA Central Bank, internal legal acts of the bank.
  • To open a metal account you can turn to the bank's Head Office or any branch. Terms and tariffs of metal accounts service and transactions can be found here.
  • The bank performs the following metal account transactions:
    • account replenishment through the purchase of the unallocated (paper) gold from the bank and depositing it into the metal account, as well as  through transferring paper gold from the metal account of the customer or some other person in the same or another bank,
    • account withdrawal by selling the paper gold available in the metal account to the Bank as well as transferring the paper gold  to the metal account of the customer or some other person in the same or another bank.
    • Metal accounts can be pledged.
  • Documents required for the opening of the account:
        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.

 

Updated 29.05.2019 | 14:43:55