The daily average balance threshold of a current account for account service free of charge:

• entrepreneurs – 20,000 AMD or equivalent amount in foreign currency
• legal entities – 50,000 AMD or equivalent amount in foreign currency

The daily average balance threshold of a current account refers to the accounts in all currencies separately, but the customer can ensure the requirement of the threshold for all current accounts on at least one current or deposit account.

Current account service commission fee (irrespective of the number of accounts)

• if the legal entity or entrepreneur’s daily average balance of the given month of the current accounts with the Bank is larger or equal to the threshold, specified above – free of charge
• if the legal entity or entrepreneur’s daily average balance of the given month of the current accounts with the Bank is smaller than the threshold, specified above –1000 AMD (monthly).

Current account service commission fee is charged from the customer’s account on the last banking day of each month.

• Reopening of a current account – 3,000 AMD
• Reopening of a current account via ACBA ON-LINE service – free of charge
• The reopening fee for a current account shall be collected for reopening of each account, but not more than 3,000 AMD within one operational day for legal entities and entrepreneurs,
• In case of closing of a current account, the service fee, accumulated previously, shall not be collected.

The opening of account is free of charge. The current account’s currencies are - AMD, USD, EUR, RUR, GBP, CHF.

The customer can enter and take the money means from the account each banking day at 9:30-16:30. In the case of incoming and outgoing of money means in the account by the currency, which differs from the account’s currency, the cross cost, defined by Bank are being used for the exchange.

• The Bank shall deposit the amounts deposited on the customer’s Account not later than the day, following the registration day of the relevant payment document in the Bank, if a shorter period is not specified by law or bank account agreement,
• Upon the customer’s request the Bank shall provide or transfer funds from the Account not later than the day, following the registration day of the relevant payment document in the Bank, if other periods are not specified by law, relevant bank rules or bank account agreement.
• The rights of the owner of the account to manage the account and the money means, available in them can be restricted under judgment on the ground of bailiff or rating authority declaration,
• The money exaction from an account without order of account holder can be fulfilled under judgment on the ground of bailiff or rating authority declaration,
• The account agreement can be cancelled at any time by the application of the customer,
• The Court by the Bank demand can cancel the account agreement in the following cases:
  • if the amount of money means, kept in customer’s account is less than the minimal amount, foreseen by bank regulation or agreement, if the amount of money has not been restored in a month after informing about it the Bank.
  • in the case of not fulfilling the deals by this account during one year.
    
• The Bank has the right of ceasing or cancelling the action of account agreement without informing about it the customer, if
  • it became known to Bank, that natural person customer is not alive or has been recognized unemployed by the rules, defined by the Law, or legal entity customer has been liquidated or has been recognized as insolvent, or
  • the Bank has doubts, that the customer fulfills the turnover of the means in the Bank, received by criminal way, or
  • if the customer has not fulfilled the deals by the account during a year from the day of opening the account, or
  • In other cases, foreseen by the Law or by the agreement, signed between the Bank and the customer.
    

According to this point, in the case of ceasing the action of the account agreement, the Bank ceases the service of the customer’s account, till the conditions, that are the reasons of ceasing disappear, and in the case of cancelling the account agreement - the Bank closes the customer’s account.

The following transactions may be performed via current account:

• deposit funds to the opened account
• make transfers from the account
• receive funds from the account
• make conversion of the account balance to a foreign currency
• repay loans from the current account
• and other transactions.