
Bank account service
ARARATBANK offers account opening and closing services to legal entities. You can manage your accounts fast and efficiently as well as remit money on favorable terms.
TRANSACTION TYPE | RATES* |
Opening and closing of bank accounts | Free of charge |
Account processing for resident legal entities and private enterprenuers (annual) | AMD 5,000** for all accounts |
Account processing for non-resident legal entities and private enterprenuers (annual) | AMD 10,000 ** for all accounts |
Annual bank account service fee for resident legal entities and private entrepreneurs where a foreign citizen is a shareholder
|
AMD 25.000 |
Annual service fee for each subsequent bank account for resident legal entities and private entrepreneurs where a foreign citizen is a shareholder |
AMD 5.000 |
Processing of account, the opening of which is due to the amount deposited by customer, plastic card issued or gold-backed lending.
|
Free of charge |
Providing account statements and payment documents (upon completion of transaction)*** | Free of charge |
Required minimum balance | |
AMD, USD | N/A |
Other foreign currency | N/A |
Payment of cash from non-cash funds of a customer** | |
AMD | 0,3% |
USD | 2% |
Euro | 2% |
RUB | 0% |
GBP,CHF,GEL,CAD,AUD,AED | At the daily interest rate |
Exchanging or depositing old and damaged banknotes into the account | |
For account holders | |
USD | 1.5% |
RUB, EUR | 2% |
For non-account customers | |
USD | 2% |
RUB, EUR | 3% |
Issuing account statements, payment documents, copies, other information and references (upon customer request, for each document) | |
Up to 1 month | AMD 500* |
From 1 to 6 months | AMD 1,500* |
From 6 months to 1 year | AMD 2,000* |
From 1 year to 2 years | AMD 3,000* |
Over 2 years | AMD 5,000* |
Issuing account statements based on the accountholders’ (except for banks) written request | |
to audit companies | AMD 10,000* |
Other persons | |
Up to 30 days inclusive of account opening date | AMD 5,000* |
After the 30th day after the account is opened | AMD 3,000* |
Providing check-books | |
1 pages | AMD 600 * |
25 pages | AMD 2,000* |
50 pages | AMD 3,000* |
Checking, packaging and returning bank notes upon customer request | |
AMD |
0.1% of the transaction amount AMD 3,000 minimum AMD 20,000 maximum |
USD |
0.1% of the transaction amount AMD 3,000 minimum AMD 20,000 maximum |
RUB, EUR |
0.1% of the transaction amountAMD 3,000 minimum AMD 20,000 maximum |
Processing payments in cash without opening an account | |
Out of the bank system | |
up to AMD 50,000 | AMD 200 |
From AMD 50,001 to AMD 100,000 | AMD 300 |
From AMD 100,001 to AMD 500,000 | AMD 500 |
From AMD 500,001 to AMD 1,000,000 | AMD 1,000 |
From AMD 1,000,001 to AMD 5,000,000 | AMD 1,500 |
AMD 5,000,001 and over | AMD 3,000 |
Transfers in AMD | |
Transfers from account | Free of charge |
Crediting of received transfers to account | Free of charge |
Intrabank transfers without opening an account |
0.1% of the transaction amount AMD 200 minimum AMD 3,000 maximum |
Payment for technical supervision coupon (environmental, state duty, technical supervision) |
|
Transfers in foreign currency | |
In foreign currency on teh RA territory | AMD 5,000 |
Between bank cardholders (between branches) | Free of charge |
Intrabank transfers without opening an account |
0.1% of the transaction amount AMD 300 minimum AMD 3,000 maximum |
*Including VAT
**Shall not apply to bank accounts of individuals (except for private entrepreneurs), such as cash transactions in terms of credit facilities provided by ARARATBANK OJSC, interests accrued on term deposits and bonds of ARARATBANK OJSC, social package and family capital, as well as deblocked accounts.
Resident and non-resident legal entities established and/or operating in the territory of the Republic of Armenia․
- Copy of Charter including amendments;
- Copy of state registration certificate with inserts;
- Copy of document certifying taxpayer identification number (TIN) where TIN is not indicated in the state registration certificate;
- Copy of license (where a licensed activity is carried out);
- Information on customer participants (founders). Where the customer is a limited liability company, a list of participants indicated in the appendix to the charter or in the insert(s) enclosed to the state registration certificate shall be provided. Where the customer is a joint stock company, a statement issued by shareholder registry keeper on shareholders who own 10% or more shall be provided. Where the participant (founder, shareholder) is a non-resident natural person, the passport shall be translated into Armenian and certified by notary public unless a special RA passport, a residence card or an internationally recognized travel document issued by a competent authority is available;
- Copies of documents certifying position of signatories. No grounding document shall be required where the mentioned persons are registered in the insert enclosed to the state registration certificate;
- Copies of passports and ID cards of signatories. Where the respective person is non-resident, the passport shall be translated into Armenian and certified by notary public unless a special RA passport, a residence card or an internationally recognized travel document issued by a competent authority is available.
Non-resident legal entities established and/or operating outside of the territory of the Republic of Armenia
- Package of customer founding documents with original copies of translated materials into Armenian certified by notary public;
- Original copies of translated into Armenian documents defining the customer’s legal status, verifying its state registration and registration in tax authorities certified by notary public;
- Original copy of translated into Armenian license certified by notary public (where a licensed activity is carried out);
- Information on customer participants (founders), original copies of documents certified by notary public. Where the participant (founder) is a non-resident natural person, the passport shall be translated into Armenian and certified by notary public unless a special RA passport, a residence card or an internationally recognized travel document issued by a competent authority is available;
- Copies of passports and/or ID cards of signatories. Where the respective person is non-resident, the passport shall be translated into Armenian and certified by notary public;
- Power of attorney, signed and sealed with the company seal, shall be provided where account funds are managed by an authorized person.
TRANSACTION TYPE | RATES* |
Deposit cash to an account | |
AMD, USD, Euro, | 0% |
RUB | 0.5% |
other foreign currency |
by arrangement
|
Deposit cash coin to an account | |
up to AMD 50 000 | Free of charge |
an amount exceeding AMD 50 000 | 1% |
Paying cash out of non-cash funds of the customer** |
|
AMD | 0,3% |
USD | 2% |
Euro | 2% |
RUB | 0% |
GBP,CHF,GEL,CAD,AUD,AED | At the interest rate set on the daily basis |
Exchange of old and damaged banknotes in AMD | |
AMD | Free of charge |
USD | 2% |
RUB, EUR | 3% |
Processing payments in cash without opening an account | |
Out of the bank system | |
Up to AMD 50.000 | AMD 200 |
Between AMD 50.001 and AMD 100.000 | AMD 300 |
Between 100.001 and AMD 500.000 | AMD 500 |
Between 500.001 and AMD 1.000.000 | AMD 1,000 |
Between AMD 1.000.001 and AMD 5.000.000 | AMD 1,500 |
AMD 5.000.001 and over | AMD 3,000 |
Intrabank transfers in AMD without opening an account | 0.1% of the transaction amount, min. AMD 200, max. AMD 3,000 |
Intrabank transfers in foreign currency without opening an account | 0.1% of the transaction amount, min. AMD 300, max. AMD 3,000 |
Payment for technical supervision coupon (environmental, state duty, technical supervision) | AMD 1.200*** |
* VAT included.
**Clause 2.2 of the present section shall not apply to bank physical entities’ (except for individual entrepreneurs)accounts, amounts credited from credit funds.
***In case of payment of property tax, extra AMD 200 shall be charged.
- If the required documents are sent abroad, postage costs shall be additionally charged from the accountholder.
- Transfers shall be made within one banking day.
- If the transferred amounts are already paid to the beneficiary or beneficiary bank, the bank shall not be held liable for return of amounts.
- Bank expenses regarding return of the transferred amount shall be incurred by the customer, if the process of returning money was due to the customer having provided inaccurate details.
You have the right to communicate with a financial institution of your choice by post or e-mail. Receiving information electronically is the most convenient option. It is available 24/7, free from the risks of loss of paper information and ensures privacy.
Page updated 20.09.2023 | 11:32
In case of discrepancy between Armenian and English versions of the information, the priority is given to the Armenian version.