Bank accounts enable to:
- receive money transfers, salary, pension, benefits and other payments,
- perform cash operations,
- make utility payments and pay for other services,
- make cash transfers in and out of the RA,
- exchange currency,
- pay taxes and make other payments.
"ID Bank" opens Client accounts in Armenian drams, Russian rubles US dollars and EUR.
Annual interest rate for bank accounts is 0% (annual percentage yield is 0%).
Minimum balance is not defined.
Single fee for opening bank account is AMD 2000 for individuals and AMD 3000 for legal entities.
The rights and obligations of the Parties related with opening, maintenance and service of bank accounts are specified in appropriate agreement.
The Bank shall have the right to unilaterally change the interest rates for the funds available on the banking account by giving 15 (fifteen) days prior notice to the clients.
No account maintenance fee is charged from the account holder if there is no turnover on the account.
The funds from the account may be withdrawn no later than the banking day following the day of submission of payment order by the Client to the Bank.
The funds addressed to the bank account of the Client are input on the account no later than the banking day following the day of submission of appropriate payment order to the Bank.
Bank account may be closed any time Commissions for submission of extracts on bank account operations, copies of payment documents and other information are specified by the tariff policy of the Bank.
Bank account (other than those which are closed only upon the request of clients) may be closed at the Bank’s initiative if there is no turnover and balance on the Client’s account for 1 year
The Parties shall settle any disputes hereunder by negotiations or in accordance with applicable RA legislation.
- Disputes hereunder may be resolved with the assistance of the Financial system mediator (in order provided by the RA Law “On Financial system mediator”) or through commercial arbitrage (in order provided by the RA Law “On commercial arbitrage”).
- The rights of the account holder with regard to the bank account and management of funds available on such account may be restricted on the basis of statements of bodies of compulsory execution of judicial acts or tax authorities according to the court resolutions.
- The bank accounts may be blocked only upon request of bodies of compulsory execution of judicial acts or tax authorities based on appropriate resolution of judicial bodies.
List of documents required for opening bank accounts
- Passport or Personal public service number (social insurance number) or reference on non-receipt of personal public service number, ID card.
- *Certificate on registration of private entrepreneur
- TIN (upon availability)
- Copy of Certificate on registration of private entrepreneur (upon availability)
- Affiliated parties according to the AML/CTF policy.