General Terms of Interbank Transfers
  • Transfers can be served to both the Artsakhbank accountholders and the customers which are not account holders of the Bank.
  • Transfers are performed throughout the RA in Armenian drams and foreign currency.
  • Commissions are charged in AMD, based on the CBA’s average exchange rate defined for AMD on the due day of the transaction. In case of lack or insufficient amount in the Customer’s AMD account, the commission for the transaction shall be charged by the Bank from the Customer’s foreign currency account by converting the foreign currency into AMD on the currency exchange market’s average exchange rate on the due day of the transaction.
  • Remittances are performed and paid in the currency specified for the transfer or in other currency by converting the amount in accordance with the Bank’s current exchange rate.
  • For transfer, the Sender must provide the Bank:

         - Identity document (list of identity documents is defined by the RA Government Decision N 767 of Dec.22, 1999)

        Identity documents are as follows:

 

  • For residents of the Republic of Armenia

         - Passport,

        - Identity card,

        - Military book (for citizens currently on military service)

        - Temporary ID provided by the RA Police.

  • • For refugees

         - Refugee certificate

        - Refugee travel document

   

  • For foreign nationals and non-RA citizens

         - Foreign state passport, internationally acknowledged identity documents

        - Special passport of the Republic of Armenia

        - Residence permit

In case of transfers on behalf of children under the age of 14, the amounts are paid exclusively to their legal representatives (parents, custodians, authorized person of the trustees’ body). Moreover, the transfers are paid solely upon provision of the actual receivers’ passports and the authority proving documents.

In case of transfers to persons of the age of 14 to the juveniles, the amounts are paid solely upon provision of the passport or an identity document (military book, temporary ID provided by the RA Police).

  • To get the transfer, the Beneficiary must provide the Bank with identity document.
  • The Bank provides the Customer with the corresponding receipt for the transfer conducted.
  • Changes in the transfer requisites/amendments are made upon the Sender’s application and provision of ID at the servicing point where the money transfer transaction has been carried out.
  • The Bank is not responsible for direct and indirect charges and losses of any party of the transfer, if such has been arisen as a result of Bank’s actions under money laundering and terrorism preventing measures, as well as in compliance with other requirements of the RA legislation.
  • The Bank is not responsible for the Customer’s orders delay, mistakes and losses as a result of the mistakes, if they have been arisen in the following cases:

        - Customer’s wrong or not clears orders

        - Telecommunications malfunction

        - Restrictions to the Customer set by a third authorized party

        - Force majeure (natural disasters, pandemics, earthquakes, strikes, blockades, declarations of states of war and emergency, acts of state agencies, etc.)

 Transfer Schedule
Currency Transfer Deadline
AMD 14:00, in case of receiving order via Internet Bank: 15:30
USD, Euro, RUB 15:00, in case of receiving order via Internet Bank: 16:30
  • The schedule is applicable for transfers under AMD 50 mln or equivalent foreign currency.
  • For transfers of more than AMD 50 mln or equivalent foreign currencies, both mentioned and other currencies, the orders received from the Customer after the defined deadline within the same business day, the service is provided on the principle of "if possible".
 Remittances Tariffs and Terms
Type of services Commissions
Transfer from banking account
 
AMD 0%
USD 0.1%, AMD 2 000 Min and AMD 5 000 Max
EURO 0%
Account - free transfers1 
 
AMD 0.1 %, AMD 100 Min and AMD 3 000 Max
USD 0.1%, AMD 2 000 Min and AMD 5 000 Max
Urgent Transfers Throughout Armenia and Artsakh 2
 
AMD Additional AMD 2 000
USD Additional AMD 2 000
EURO Additional AMD 2 000
Payment Order Prepairment (Inclusive of VAT)
 
AMD AMD 300
Foreign Currency AMD 1,000
Transfer cancellation or changes in the data provided for transfer on Customer’s Claim3
AMD 2,000
Requests on Executed Transfer on Customer’s Claim3
 
For Transfers in AMD AMD 3,000
For Transfers in RUB AMD 10,000
For Transfers in other foreign currency AMD 30,000
Transfers via UNISTREAM throughout Armenia4
 
RUB 0,6%
USD 0,6%
EURO 0,6%

1 Commissions are applied to transfers to RA and AR Treasury and banking accounts.

2 This service is provided on the principle of "if possible", and in case of a negative result, the Bank is not responsible for non-execution of the transfer by third parties.

3 This service is provided on the principle of "if possible", and in case of a negative result, the Bank is not responsible for non-execution of the transfer by third parties. The service is provided upon the Banks’ Non-cash Flow and Cash Management Division.;

4 Maximum amount of a transfer is RUB 900 000 or equivalent foreign currency. Transfer is conducted within 10-20 minutes.

 

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