Cash and foreign currency transactions

CASH AND FOREIGN CURRENCY TRANSACTIONS
SERVICE	COMMISSION FEE
1. Cash in
a/ AMD, USD**, EUR, GEL	0
** Until 2004 issued 5, 10, 20, 50, USD and until 2009 Depositing more than 1,000.00 (one thousand) USD of issued 100 USD banknotes	1%
b/ GBP, CHF	2%
c/ RUB ⁶	1.5%
d/ deposit account inputs through clearing systems with the aim of purchase of receipts, as well as for foreign currency sale and purchase*** transactions	0
*** Conversion of banknotes with a nominal value of USD 5, 10, 20, 50, USD issued until 2004 and banknotes with a nominal value of USD 100 issued till 2009 to another currency (foreign currency exchange) in case of exceeding USD 1,000.00 (one thousand)	1%
e/ Cash input by the customers under special procedure (signed by numbered seals or numbered plastic bags for onetime use) based on amount size	0,01% min AMD 500

2. Cash payment of cash funds debited to the Customer’s account [1]
a/ AMD, USD, EUR	0
b/ RUB	0.5%
c) GBP	2%
d) CHF	2%
e/ GEL	0%

3. Cash payment from the Customer’s cashless funds [2]
For individuals
a/ up to AMD 30 000	AMD 500
b/ AMD 30 001 and more	0.5%, min AMD 1 000
c/USD	1% min AMD 1000
d/ EUR	1%, min AMD 1 000
e/ RUB	0.5%
f) GBP	2%
g) CHF	2%
h/ GEL	0%
3.1 For non-account holders and transit accounts [5]
a/up to AMD 30 000 (equivalent in EUR)	AMD 500
b/ AMD 30 001-100 000 (equivalent in EUR)	AMD 1000
c/AMD 100 001 and more	1%, min AMD 3000
d/ EUR	1%, min AMD 1000
e) USD	1% min AMD 1000

4. Replacement of worn and damaged seals
a/ AMD	0
b/ USD, EUR and RUB	5%
c/ Other currency	Isn’t accepted

*5. Foreign currency cash authentication checking [ 3]**
a/ up to AMD 600 000 equivalent foreign currency	AMD 5 000
b/ AMD 600,001- 1,000,000 equivalent foreign currency	AMD 10 000
c/AMD 1,000,00- 5,000,000 equivalent foreign currency	AMD 15 000
d/ AMD 5,000,001- 10,000,000 equivalent foreign currency	AMD 20 000
e/AMD 10,000,001 equivalent foreign currency and more	AMD 30 000

6. Acceptance of coins from a customer during one banking day [4]
a/ Up to AMD 50 000	0
b/ AMD 50 001 and more	2%

*The tariff includes VAT.

1 While calculating the commission fee for the monetary fund encashment from the customers’ accounts, the difference of the debited and credited amounts sum to the Customer’s account 182 days prior to monetary fund encashment is taken as a basis (this fee is not applied to child deposits, time deposits placed by individuals and accrued interests against them). The loans provided by the Bank (excluding loans secured with gold items provided to individuals and loans with fund collateral, as well as loans provided to Bank employees in AMD, Araratincassatsia’s employees’ with the condition of repayment from salary, for the encashment of which no tariff is charged ) the funds credited to accounts through ATMs are considered cashless funds debited to the account of the Customer.

2 a/ The present tariff is not applied on the child deposits, the paid interest against the bank on-demand deposit accounts, term deposits placed by individuals and interest accrued against thereof, commissions charged against investment services from individuals who acquired bonds issued by ARMECONOMBANK OJSC (including securities exchange rates) and monetary funds received as a result of transactions with bonds, loans with gold items, monetary fund collateral, as well as loans secured with the Bank’s and Araratincassatsia’s employees’ wages, as well as on the encashment of cashless funds from the transactions via POS terminals installed by “ARMECONOMBANK” OJSC,

b/ The present tariff is not applied on the encased amounts for utility payments by corporate entity customers from the Bank’s corresponding base during the given day
c/ For charity organizations FREE of charge. The tariff is not applied on other currencies.
d/ The present tariff is not applied to the encashment of funds transferred from social package accounts, social security accounts and state support accounts as benefit.
e/ Do not apply a minimum threshold of AMD 1000 against the loans for the provision of which, an encashment fee is envisaged.

3. The present tariff is not applied to the transaction operation in the Bank. The authentication of the foreign currency cash by the citizen is checked by the teller of “ARMECONOMBANK” OJSC, which are wrapped, sealed and returned to the customer according to the defined procedure.

4. TThe defined commission fee is not applied to the customers having active accounts at “ARMECONOMBANK” OJSC and during debiting to active accounts at “ARMECONOMBANK” OJSC.

5. The tariff does not apply to the cash payments and encashment of the recovered amounts.

6. With the exception of cash input to the bank accounts on the purpose of attraction of deposits denominated in RUR.

You can get acquainted with the cash withdrawal commissions for the previous 1 year by following the link

You can get acquainted with the tariffs and conditions (information summaries) of the service for the previous year by going to the following link