For Individual Clients

Account Opening and Service


1. Ameriabank offers the following account types:

 

  • Personal account: may be administered only by the account holder unless the account is administered under trust management terms (based on power of attorney).
  • Joint account: a type of account in the name of individuals where the transactions may be made on the availability of the verified signatures of the all or one (two) of co-signers. The right to make transactions through these accounts is stipulated in the Agreement on Opening and Managing Bank Account executed with the client, and in the signature card. In case of joint account the Agreement on Opening and Managing Bank Account is co-signed by the persons opening the account.
  • Account in the name of a third person: available for the service of time deposit accounts originated in the name of a third person
  • Special purpose account: a special account opened in compliance with the procedure specified by the RA legislation and the internal acts of the bank, for example, an account in the name of a minor under age 14, account ensuring secure settlements under real estate sale and purchase agreements (escrow account), etc.

 

 

2. Current accounts are available in the following currencies:

 

  • Armenian drams, US dollars, euros, Russian rubles, Swiss francs, British pounds, Canadian dollars, Japanese yens, Australian dollars, UAE dirhams, paper gold (999.9 purity), and other currencies quoted by the Bank.

 

3. No minimum balance required for current accounts.

 
 

 

Account opening and closing procedures
 

1. The Bank opens a restricted or full access account for the client within 1 (one) business day upon receiving an account opening application-agreement from the client.

  1.1. With full access account the client can perform the following operations: 

    1.1.1. Money transfers

    1.1.2. Аccount debiting

    1.1.3. Аccount crediting

    1.1.4. Currency exchange

  1.2. Restricted accounts are opened for clients who have not yet been identified by the Bank in accordance with the regulations of the Bank and applicable Armenian laws. With restricted accounts clients can perform the following restricted operations:

    1.2.1. Transfers to and from other accounts of the client

    1.2.2. Transfers between other accounts with Ameriabank 

    1.2.3. Currency exchange 

    1.2.4. Utilities

    1.2.5. Payments to state budget

    1.2.6. Payments of traffic tickets

    1.2.7. Requests for operations available in Internet-Bank

 

2. Current accounts are available in Armenian drams, US dollars, euros, Russian rubles, Swiss francs, British pounds, Canadian dollars, Japanese yens, Australian dollars, UAE dirhams, paper gold (999.9 purity), and other currencies quoted by the Bank. Transactions are executed in the account currency, except for currency conversion transactions which are subject to the rates of the Bank effective at each particular moment. 

 

3. Accounts are closed upon request of client based on written application submitted to the Bank in paper form or via the channel specified by the client as the preferred means of communication. Accounts is closed, if:

  3.1. Account balance is zero, there is no debt to the Bank and/or the account is not under lien. Any funds available on the account at the time of closing are withdrawn or transferred to another account with Ameriabank or other bank account, and the account with zero balance is closed within 1 (one) business day upon submitting the account closing application.

  3.2. At the Bank’s initiative, based on clients and accounts database monitoring results.

  3.3. At the Bank’s initiative, if there were no cash flows on the account during the most recent 12 months and account balance is zero.

 

Rates & fees

Standard

   1. Account + service package

 

   1.1  Package includes one account in Armenian drams and one account in a foreign currency, Internet/Mobile Banking (with Ameria Token), and one VISA Classic or MasterCard Standard card without annual service fee. [1]

AMD 3,000

   1.2 Opening Smart accounts online with service package (package includes one account in Armenian drams, Internet/Mobile Banking (with Ameria Token), and one VISA Classic or MasterCard Standard card)

Free

   2. Account opening fee [2]

 

       2.1    Accounts in AMD

 

                2.1.1     For Armenian citizens

Free

                2.1.2    For non-citizens

AMD 5,000

       2.2   Accounts in foreign currency

 

                2.2.1    At Yerevan-based branches

AMD 1,000 per account

             2.2.2    At branches outside Yerevan

AMD 500 per account

   3. Account closing

Free

   4. Minimum account balance [3]

N/A

   5. Account management [4]

 

     5.1 If during calendar half-year average cash flows on the client’s accounts are at least AMD 150,000, or average daily balance on the accounts is above AMD 50,000

Free

   5.2 If during calendar half-year average cash flows on any of the client’s accounts are less than AMD 150,000, or average daily balance on account is less than AMD 50,000

AMD 1,000 per calendar half-year

 

[1] Package is available only for Armenian citizens. If the client refuses to use one or several services in the package, the price of the package remains the same.  Services not included in the package are chargeable at the rates applicable to each particular service. 
If you already are an Ameriabank client, the package is applicable to you if you do not use any of the services included in the package.
[2] No account opening fees are charged in case of making time deposits or opening brokerage accounts. Opening an AMD account is required for any kind of banking transactions.
[3] 0% annual interest for credit balance on account.
[4] Turnover on any account of the client (including card accounts) applies to all other accounts of that client (this provision is applicable only in terms of charging commissions). If the client has a card account linked to an active card, no commission is charged. If the account is linked to a closed card, the commission is chargeable. Commissions are charged within two weeks following each calendar half-year. 
Where there is no activity on all accounts during the most recent 12 months, the account is restricted for debiting (this is done within two weeks following each calendar quarter for accounts qualifying for restriction at that time). Where there is no activity on all accounts during the most recent 12 months and account balances are zero, accounts are closed (this is done within two weeks following each calendar half-year for accounts qualifying for closing at that time).
No account management fee is charged from clients having brokerage accounts.
Metal accounts are not covered by the Deposit Guarantee Fund. 

 

 

Account Operations, Fees and Terms

 

   6. Account crediting in cash

 

       6.1    AMD

 

                6.1.1      Up to and including AMD 50,000 [5]

AMD 500

                6.1.2    Above AMD 50,000

Free

       6.2    USD, EUR

Free

       6.3    RUB, GBP, CHF and other foreign currencies [6]

As per the rates prevailing in the Bank on that day

   7. Cash withdrawal

 

       7.1    From funds credited to client’s account in cash

Free

       7.2    From funds credited to client’s account through wire transfer

 

                7.2.1     AMD

 

                     7.2.1.1    At Yerevan-based branches

0.2%, min AMD 500

                     7.2.1.2    At branches outside Yerevan

0.1%, min AMD 200

                7.2.2     RUB

0.3%, min AMD 1,000

                7.2.3     Other currencies

0.4%, min AMD 1,000

   8. Distance banking fees [7]

 

       8.1    Via Internet/Mobile Banking with access to view account activity and statements and execute transactions

 

                8.1.1     With a token generating one-time passwords

Lump-sum fee of AMD 3,000 (including one token generating one-time passwords to log into system and authorize transactions)

                8.1.2     With Ameria Token

Lump sum fee of AMD 1,000 (including one code for Ameria Token application to log into system and authorize transactions)

                8.1.3     Provision of token/Ameria Token (in case of loss or damage), change of existing token

AMD 1,000, VAT included

       8.2    Via Phone banking

Lump sum fee of AMD 5,000

   9. Provision of statements, information and copies of documents

 

       9.1    Provision of up to 1 year-old account statements, copies of account statements or other documents kept in electronic form

Free

       9.2    Provision of more than 1 year-old account statements or copies of account statements or provision of other documents kept in electronic form

AMD 5,000, VAT included, per annual statement per account

       9.3    Provision of references

 

                9.3.1     To holders of 3 and more months old accounts

AMD 3,000, VAT included

                9.3.2     To holders of less than 3 months old accounts

AMD 5,000, VAT included

                9.3.3     If ordered via Internet/Mobile Banking or Ameriabank website [8]

AMD 1,000, VAT included

       9.4    Delivery of account statement

 

                9.4.1     By email/span>

Free

                9.4.2     By post within Armenia

Free

                9.4.3     By post outside Armenia

As per postal service bills

   10. Remittances [9] in AMD

 

       10.1    Within Ameriabank accounts

Free

       10.2    To Armenia-based banks

 

                10.2.1     For account holders [10]

Free

                10.2.2     For non-account holders at Yerevan-based branches

0.1%, minimum AMD 1,000

                10.2.3     For non-account holders at branches outside Yerevan

0.1%, minimum AMD 500

       10.3    Transfers to payment and settlement organizations on behalf of account holders

0.5% of transferred amount

   11. Remittances in foreign currency

 

       11.1    Within Ameriabank accounts

Free

       11.2    In RUB

 

                11.2.1     Costs of all correspondent and intermediary banks charged to the amount of remittance

AMD 3,000

                11.2.2     Costs of all correspondent and intermediary banks borne by Ameriabank

0.1%, min AMD 3,000, max AMD 30,000

       11.3    In USD, EUR

 

                11.3.1     Costs of all correspondent and intermediary banks charged to the amount of remittance

0.1%, min AMD 5,000, max AMD 12,000

                11.3.2     Costs of correspondent banks borne by Ameriabank, costs of other intermediary banks, if any, charged to the amount of remittance

 

                     11.3.2.1    If the payment order is submitted in paper form

0.15%, min AMD 7,500, max AMD 50,000

                     11.3.2.2    If the payment order is submitted via Internet/Mobile Banking

0.1%, min AMD 6,000, max AMD 50,000

       11.4    Costs of all correspondent and intermediary banks borne by Ameriabank

Commission specified in point 1.6.2 + AMD 10,000

       11.5    In other foreign currencies quoted by the Bank

 

                11.5.1     Costs of all correspondent and intermediary banks charged to the amount of remittance

0.1%, min AMD 5,000, max AMD 12,000

                11.5.2     Costs of correspondent banks borne by Ameriabank, costs of other intermediary banks, if any, paid by client

 

                     11.5.2.1    If the payment order is submitted in paper form

0.15%, min AMD 12,000, max AMD 50,000

                     11.5.2.2    If the payment order is submitted via Internet/Mobile Banking

0.1%, min AMD 10,000, max AMD 50,000

       11.6    Transfers in currencies not quoted by the Bank [11]

0.2%, min AMD 20,000, max AMD 100,000

       11.7    Transfer of money to Ameriabank client accounts from ARCA, VISA or MasterCard cards [12]

2%

 
[5] No commission for cash deposit in the following cases:
  • Account top-up to pay commissions
  • Account top-up to make payments to government and local authorities of Armenia, including notary offices, service agencies of state committee of real estate cadaster and other government bodies
  • Cash deposit as part of other operations handled by teller
[6] No commission for account crediting in case of making time deposits. In case of early termination of deposit within 30 days after deposit start date a fee is charged in the amount of the applicable rate for account crediting in cash as of actual deposit repayment day.
[7] The Bank defines currency exchange rates every business day, which remain effective during open hours of the Bank. The Bank is entitled to reject conversion applications received via distance banking systems on non-open hours (before 09.30 a.m. and after 5:00 p.m) and non-business days (including Saturdays).
[8] Requests for references should be submitted at least one banking day in advance.
[9] The Bank accepts and processes payment orders submitted in paper form or via distant banking solutions as per the schedule below, provided that there are sufficient funds on the account to execute the transfer.

 

 

Payment orders submitted in paper form

Payment orders submitted via Bank-Client/Internet-Bank/Mobile Banking

Payment orders through phone banking (except transfers within Ameriabank accounts)

Acceptance

Transfer

Acceptance

Transfer

Acceptance

Transfer

Acceptance

Transfer

AMD

Before 1:00 p.m.

Same banking day

After 1:00 p.m.

Next banking day

Before 2:00 p.m.

Same banking day

After 2:00 p.m.

Next banking day

USD

Before 4:00 p.m.

Same banking day

After 4:00 p.m.

Next banking day

Before 5:00 p.m.

Same banking day

After 5:00 p.m.

Next banking day

Other currencies

Before 3:00 p.m.

Same banking day

After 3:00 p.m.

Next banking day

Before 4:00 p.m.

Same banking day

After 4:00 p.m.

Next banking day

 

[10] The Bank charges AMD 10,000 for each same-day transfer in the amount of up to AMD 50 million, if the payment order is submitted in paper from 1:00 p.m. to 3:00 p.m. (2:00 p.m. to 3:15 p.m. in case of electronic payment orders).

[11] Transfer is executed in USD, and the amount is credited into the recipient’s account in the currency indicated by the client. 

[12] Max 3 transactions per day per account. Max limit per transaction: 

 

Currency

Amount

AMD

500,000

USD

1,000

EUR

1,000

RUB

50,000

 

4. No interest accrued to current account balance.

 

5. We will accept your instructions and payment orders during operational hours defined by the Bank.

 

6. Foreign exchange transactions based on client’s payment orders, including orders submitted online, are executed by the Bank at the exchange rates effective at the time of execution of transaction irrespective of when the Bank received your payment order. We may decline currency exchange or paper gold purchase orders we receive out of business hours or on weekends and public holidays.

  • Your payment orders will be processed during the following hours:
  • Transfers within Ameriabank accounts: during the operational day the instruction was received unless otherwise instructed by you
  • Transfers to other bank accounts: on the same business day, if the instruction was received: 
  • For AMD-denominated payment orders – by 1:00 p.m. if received at the Bank premises, or by 2:00 p.m. if received via distance banking channels
  • For USD-denominated payment orders – by 4:00 p.m. if received at the Bank premises, or by 5:00 p.m. if received via distance banking channels
  • For payment orders in other currencies or in paper gold – by 3:00 p.m. if received at the Bank premises, or by 4:00 p.m. if received via distance banking channels 
  • Any payment order for transfers outside Ameriabank, submitted after the specified hours, is processed on the next business day. The procedure of payment order processing and withdrawing of funds from the client accounts is subject to the internal regulations of the Bank. 

 

7. Cash funds are deposited into current account at the time they are presented. Amounts received through wire transfers are deposited into account subject to availability of sufficient documentary proof from the correspondent bank. 

 

8. Cash is provided to you on the basis of your application in accordance with the schedule below:

 

Branch office

Cash withdrawal without submitting application in advance 

Cash withdrawal based on application submitted in advance 

Amount requested

(to be provided during the same operational day when the application was submitted

Amount requested

Timing for provision of cash if the application was submitted before 1:00 p.m.

Timing for provision of cash if the application was submitted after 1:00 p.m.

Kamar Branch/

Head Office

Up to AMD 30 million,

USD 100,000,

EUR 30,000

or AMD 1 million equivalent in another currency

Over AMD 30 million,

USD 100,000, 

EUR 30,000

or AMD 1 million equivalent in another currency

Within up to 1 operational day

Within up to 2 operational days

Yerevan-based branch offices, other than Kamar

Up to AMD 20 million,

USD 25,000,

EUR 15,000

or AMD 1 million equivalent in another currency

Over AMD 20 million,

USD 25,000, 

EUR 15,000

or AMD 1 million equivalent in another currency

Within up to 1 operational day

Within up to 2 operational days

Branch offices outside Yerevan

Up to AMD 10 million,

USD 20,000,

EUR 10,000

or AMD 1 million equivalent in another currency

Over AMD 10 million,

USD 20,000, 

EUR 10,000

or AMD 1 million equivalent in another currency

Within up to 5 operational days

 

9. No interest accrued to account balance, except for saving accounts.

 

 

Notices

 

1. List of documents required for bank account opening

  • ID and personal public services number for resident physical entities
  • Personal identification document for non-resident physical entities

 

2. The client’s right to manage the funds on the account cannot be restricted, except where (i) funds are blocked or restricted or transactions through account suspended in accordance with the legislation of the Republic of Armenia by request of the Service for Compulsory Execution of Judicial Acts or tax authorities based on court ruling or award, or (ii) this is envisaged by other agreements entered into by and between the Bank and the client or by RA legislation.

 

3. Funds on the account can be withdrawn without the client’s instruction by request of the Service for Compulsory Execution of Judicial Acts and tax authorities based on court ruling or award, as well as in cases provided for by applicable Armenian laws and agreements entered into between the Bank and the client. 

 

4. Current bank accounts are insured by the Deposit Guarantee Fund pursuant to the Law of the Republic of Armenia “On Guarantee of Remuneration of Bank Current of Physical Entities”.

 

5. The Law defines the following terms of guarantee:

  • For accounts in AMD only, the guarantee coverage is AMD 10 million.
  • For accounts in foreign currency only, the guarantee coverage is AMD 5 million.
  • For accounts both in AMD and foreign currency where the AMD-denominated amount exceeds AMD 5 million, the guarantee covers only the AMD-denominated amount of up to AMD 10 million.

For accounts both in AMD and foreign currency where the AMD-denominated amount is less than AMD 5 million, the guarantee coverage is 100% for AMD-denominated amount + difference between AMD 5 million and reimbursed amount in AMD for foreign currency account.

  • All AMD accounts with the Bank are treated as one AMD account and
  • all foreign currency accounts with the Bank are treated as one foreign currency account.

 

6. According to the agreement executed by and between the Bank and the Financial System Mediator, the Bank has waived its right to dispute the decisions of the Financial System Mediator provided that the property claim does not exceed 250,000 (two hundred and fifty thousand) Armenian drams or the equivalent in other currency and the amount of transaction does not exceed 500,000 (five hundred thousand) Armenian drams or the equivalent in other currency.

 

 

Tariffs

 

   Account + service package 

      Package includes one account in Armenian drams and one account in a foreign currency, Internet/Mobile Banking (with Ameria Token), and one VISA Classic or MasterCard Standard card without annual service fee. [14]

AMD 3,000

      Opening Smart accounts online with service package (package includes one account in Armenian drams, Internet/Mobile Banking (with Ameria Token), and one VISA Classic or MasterCard Standard card)

Free

  Account opening fee [15] 

      Accounts in AMD

 

                    For Armenian citizens

Free

                   For non-citizens

AMD 5,000

      Accounts in foreign currency

 

                   At Yerevan-based branches

AMD 1,000 per account

                   At branches outside Yerevan

AMD 500 per account

  Minimum account balance [16] 

N/A

  Account management [17] 

      If during calendar half-year average cash flows on the client’s accounts are at least AMD 150,000, or average daily balance on accounts is above AMD 50,000

Free

      If during calendar half-year average cash flows on any of the client’s accounts are less than AMD 150,000, or average daily balance on account is less than AMD 50,000

AMD 1,000 per calendar half-year

  Cash withdrawal 

      From funds credited to client’s account in cash

Free

      From funds credited to client’s account through wire transfer

 

           AMD

 

                    At Yerevan-based branches

0.2%, min AMD 500

                    At branches outside Yerevan

0.1%, min AMD 200

           RUB

0.3%, min AMD 1,000

           Other currencies

0.4%, min AMD 1,000

  Provision of statements [16] 

Free

 

[14] Package is available only for Armenian citizens. If the client refuses to use one or several services in the package, the price of the package remains the same.  Services not included in the package are chargeable at the rates applicable to each particular service. 

If you already are an Ameriabank client, the package is applicable to you if you do not use any of the services included in the package.

[15] No account opening fees in case of time deposits or brokerage account opening. Opening an AMD account is required for any kind of banking transactions.

[16] 0% annual interest for credit balance on account.

[17] Turnover on any account of the client (including card accounts) applies to all other accounts of that client (this provision is applicable only in terms of charging commissions). If the client has a card account linked to an active card, no commission is charged. If the account is linked to a closed card, the commission is chargeable. Commissions are charged within two weeks following each calendar half-year. 

Where there is no activity on all accounts during the most recent 12 months, the account is restricted for debiting (this is done within two weeks following each calendar quarter for accounts qualifying for restriction at that time) and an account data update is required. Where there is no activity on all accounts during the most recent 12 months and account balances are zero, accounts are closed (this is done within two weeks following each calendar half-year for accounts qualifying for closing at that time).

No account management fee is charged from clients having brokerage accounts. 

[18] The Bank provides account statements in the manner defined under applicable laws of Armenia. Statements can be delivered in person within the Bank premises, sent by post, email, Bank-Client or Internet-Bank.

 


General Terms and Conditions

 

1. We will open a full or restricted access bank account for you on the basis of your application. Applications are required to be submitted on the standard approved form of the Bank.

 

2. Restricted accounts are opened for clients who have not yet been identified by the Bank in accordance with the regulations of the Bank and applicable Armenian laws. With restricted accounts clients can perform the following restricted operations:

  2.1. Transfers to and from other accounts of the client

  2.2. Transfers within Ameriabank accounts 

  2.3. Currency exchange 

  2.4. Utilities

  2.5. Payments to state budget

  2.6. Payments of traffic tickets

  2.7. Requests for operations available in Internet-Bank

 

3. Current accounts are available in Armenian drams, US dollars, euros, Russian rubles, Swiss francs, British pounds, Canadian dollars, Japanese yens, Australian dollars, UAE dirhams, paper gold (999.9 purity), and other currencies quoted by the Bank. Savings accounts are available in Armenian drams, US dollars, euros and Russian rubles. 

 

4. The Bank offers the following account types:

  4.1. Current account 

  4.2. Saving account

  4.3. Card account 

  4.4. Brokerage account

  4.5. Escrow account

  4.6. Metal account

 

5. List of documents required for bank account opening

  5.1. ID and personal public services number for resident physical entities

  5.2. Personal identification document for non-resident physical entities

 

6. Accounts are closed in the following cases:

  6.1. At the client’s initiative (written or verbal instruction), if account balance is zero, there is no debt to the bank and/or the account is not under lien. This being the case, account is closed within one business day.

  6.2. At the bank’s initiative, based on clients and accounts database monitoring results

 

7. No interest accrued to account balance, except for saving accounts.

 

8. Cash funds are deposited into current account at the time they are presented. Amounts received through wire transfers are deposited into account subject to availability of sufficient documentary proof from the correspondent bank. 

 

9. We may provide services to you either during face-to-face communication or via distance banking channels.

 

10. All fees are charged in Armenian drams, except fees for non-residents which can be paid in foreign currency where envisaged under the laws of the Republic of Armenia. Fees expressed as percentage of foreign currency amounts shall be charged in AMD based on the Bank’s buy rate at each particular time. Debits and credits of AMD-denominated fees for card service are performed at the average exchange rate of the Central Bank of Armenia prevailing on that date.

 

11. If you do not have sufficient funds on your AMD account, the Bank may charge the whole or part of the fee amount to your foreign currency accounts at the Bank’s buy rate as of that date.

 

12. The Bank provides account statements in the manner and at the frequency envisaged under the laws of Armenia and/or agreed with the client. No statements can be provided where envisaged under the laws of Armenia.

 

13. Our customers can also open joint accounts, other than card accounts. A joint account may be opened for not more than two customers.

 


Updated 15.10.2020, 17:03

Services for Individuals

  
HEAD OFFICE

2 Vazgen Sargsyan Street, Yerevan 0010,RA

Tel.: +37410 56 11 11

In the US:

+1 888 802 5352 

In the UK:

+448000465400

Dear visitor,
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