Individual
Account service
Bank account service

Bank account service

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

Account service fees

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

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
A commission fee for opening a new AraratMobile account for existing customers	N/A
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
Payment of cash from non-cash funds of a customer**
AMD	0,3%
USD	3% (Revised daily)
Euro	4% (Revised daily)
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
Transfers in foreign currency
Intrabank transfers of resident account holders	Free of charge
Intrabank transfers of non-resident customers between their own accounts	Free of charge
Transfers of non-resident customers to other persons’ accounts	AMD 2,000
External transfers of resident customers	AMD 5,000
External transfers of non-resident customers	AMD 10,000
Intrabank transfers without opening an account	0.1% of transaction amount: AMD 300 min., AMD 3,000 max.
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	9,5%
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

A passport and/or identification card or a military record book where an individual undergoes a mandatory military service (passports shall be translated into Armenian and notarized in case of nonresidents). No translation of passports shall be required where a special RA passport, residence card or internationally recognized travel document that verifies the identity of the bearer issued by RA authorities is submitted.
A social security card or reference on issuing a public service number (in case of lack of such document, a reference on waiver of the social security card or public service number issued by RA authorities shall be provided).
A power of attorney certified by a notary public, where a person is authorized to manage account proceeds.

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.

Attention

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.

Financial assistant

Bank account service

See also