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.
| 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 | 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 |
| 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 | 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
- 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.
| 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 |
| 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 25.06.2021 | 15:23
In case of discrepancy between Armenian and English versions of the information, the priority is given to the Armenian version.
