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Bank Account Service

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  • Bank account service is regulated by RA legislation, regulations of RA Central Bank, bank account service agreement made between you and the bank.
  • The service of bank accounts is performed by the bank’s head office and branches (through relevant customer service subdivisions). The service of bank accounts is performed during the operational day – from 9:30 till 17:00, without a break.
  • A fee against transactions performed through customer's accounts will be charged according to our tariff rates.
  • Bank account maintenance is free of charge. No minimum account balance is required.
  • Through your accounts you can perform any transaction (cash and non-cash) that is not prohibited by RA legislation, filing a duly documented instruction to the bank.
  • The following transactions can be implemented through a bank account:
    • Crediting of your bank account,
    • Money transfers from bank account,
    • Money withdrawal from bank account,
    • Conversion of current account balance into a foreign currency (at FX rate as of the transaction date),
    • Repayment of loans from funds in your accounts.
  • You can also remotely manage your accounts through our systems of bank account remote (online) management.
  • All transactions performed through bank accounts (movement of funds, charged fees, incomes received) will be reflected in account statements. Account statements can be provided to you personally, electronically or by post service as may be agreed between you and the bank. We will charge relevant fees for account statement duplicates and/or other information (statements) on bank accounts.
  • Timelines for crediting/debiting bank accounts:
    • The funds received in your favor will be credited to your account no later than the next banking day upon receipt of the documents confirming the entry of funds. In case of cash credited to your account, the funds will be deposited into your account on the same banking day.
    • Withdrawal of funds from your account (money transfer) will be implemented on the basis of payment instructions; a payment instruction submitted until 15:30 will be performed on the same banking day.
  • Other terms and conditions regarding bank account service can be found by clicking the following links:
    • Terms and conditions of money transfers and cash transactions – in sub-section Money Transfers of Bank Services section and sub-section  Cash Transactions of Tariffs section.
    • Interest rates accrued on current account balances of customers- in sub-section Current Accounts of Tariffs section. Note: the bank has the right to change the interest rates payable on funds available in bank accounts, unless otherwise stipulated in account service agreement.
    • At the customer's request – fees for inquiry on tariffs for transactions conducted within and outside the territory of Republic of Armenia -   sub-section Bank Transfers  of Tariffs section.
Updated 13.03.2018 | 11:11:54