Bank account service

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Account service
Bank account service

ARARATBANK offers bank account processing services to individuals, legal entities and private entrepreneurs.

You can open accounts in ARARATBANK both in local and foreign currency.

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Service fees

TRANSACTION TYPE	RATES*
Opening and closing of bank accounts	Free of charge
Account processing for resident individuals (annual)	AMD 1,000* for each account**
Account processing for non-resident individuals (annual)	AMD 5,000* for each account**
Processing of account, the opening of which is due to the amount deposited by customer (individual) plastic card issued or gold-backed lending.	Free of charge
Opening and processing bank accounts of individuals (including term deposits) upon submitting a bank book	AMD 300*
Providing account statements and payment documents (upon completion of transaction)***	Free of charge
Required minimum balance
AMD, USD	AMD 0.00
Other foreign currency	AMD 0.00
Legal entities and private enterprenuers
AMD, USD	AMD 0.00
Other foreign currency	AMD 0.00
Payment of cash from non-cash funds of a customer**
AMD	0,3%
USD	0,4%
Other foreign currency	At the daily interest rate
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)	AMD 1,000 In case of payment of property tax, extra AMD 200 shall be charged
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
Account opening and processing for the purpose of managing family capital
Annual interest rate accrued over the funds available in the bank account, opened for the purpose of managing family	11%
Interest payments shall be made to the same account once a year

*Including VAT

** Not applied for bank accounts of individuals (except for private entrepreneurs) for amounts credited from interests accrued over the loan funds disbursed by ARARATBANK OJSC, term deposit and ARARATBANK OJSC bonds, as well as for cash withdrawal from social package accounts.

***Annual processing fee shall be charged at the point of account opening. Annual processing fee shall be subject to payment every year on the same day the annual processing fee has been charged. At that, if the customer fails to pay the annual processing fee or the required amount is not available on the customer account, the account shall be closed. Furthermore, if the resident or non-resident legal entities and private entrepreneurs open one more account in other currency or the same currency in future (except for subaccounts), the one-time processing fee shall be charged at the point of opening an accoun

Required documents

Please follow the Armenian version

Cash transactions

TRANSACTION TYPE	RATES*
Deposit cash to an account
AMD, USD	Free of charge
other foreign currency	At the interest rate set on the daily basis
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	0,4%
other foreign currency	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

* 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

Important to know

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.

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