Data to be provided by the initiator of money transfer

· ID document*
· Transfer application in the form verified by the system
· The name of the country and the city to where the money should be transferred
· Amount and fee
· Full name (name, last name, patronymic) of the beneficiary as given in the passport

The Bank  provides the  receipt to the customer for each executed transfer

Data to be provided by the beneficiary of the money transfer  **

• ID document*
• Unique transfer code
• Name, last name of the sender,
• The amount and currency of transfer
• Receipt application in the form verified by the system

* The list of ID documents is specified by decision N 767 of the RA Government as of December 22, 1999

** The Bank can claim additional documents and information on the basis of   “Know your Customer” principle for the purpose of due diligence to be conducted under the RA Law “On anti-money laundering and counter terrorism financing”.

Transfer currency

USD, EUR

Foreign currency exchange is available upon necessity at the rates applicable by the Bank as of the given date

Receipt currency

USD, EUR

Foreign currency exchange is available upon necessity at the rates applicable by the Bank as of the given date

Transfer speed

5-10 minutes

Maximum amount per transfer

USD 5 000, EUR 5 000

Fees

The fee for money transfer made through Sigue Money Transfer system is 1.3-3% of the amount to be transferred, depending on the destination  

Amount to be transferred (USD/EUR)

Fees (USD/EUR)

0 - 100

3

101 - 200

6

201 - 300

10

301 - 400

14

401 - 500

18

501 - 750

25

751 - 1 250

30

1 251 - 1 750

40

1 751 - 2 250

55

2 251 - 2 750

75

2 751 - 3 000

85

3 001 - 5 000

95

· Transfers made through Sigue Money Transfer payment system are with no address,
· The beneficiary can receive the transfer at any service center of Sigue Money Transfer of the given country
· The fee is charged from the sender, in Armenian drams at the rate of the Central Bank of RA as of the given date

Geography

CIS countries, as well as other foreign countries, including: Austria, Belgium, Israel, China, Sweden, etc.

Change of requisites of the transfer

· Requisites are changed on the day of submitting application on change of requisites on the basis of written application and ID document from the service center from which the transfer was effected; with no commission.

· Change of requisites is executed in procedure established by the system.
· Data of the beneficiary (name, last   name, patronymic) can be changed only.

· Only unpaid transfers can be changed.

Cancelling the transfer

· Transfer can be cancelled on the day of application, without additional fees, on the basis of cancellation application and passport details, submitted by the sender on the same day when the transfer was effected; both the transferred amount and the commission are subject to return.  Only unpaid transfers can be cancelled

Callback

· Calling back of the full amount is effected on the basis of callback request submitted by the customer in written form within one banking day or later

· Return of the fee is effected by the system depending on the reason

·  Only unpaid transfers can be returned

Expiration date of the transfer

6 months

Transfers through Sigue Money Transfer system can be made from any branch of “ID Bank” CJSC

Procedures (like reimbursement of loss), terms and the scope of responsibility  applicable for the delay of payments or  the transfer, non-fulfillment or partial fulfillment of payment obligations by the financial institution, as well as the terms for appealing payments and (or) transfers made by the consumer, the procedures applicable to appeal, and the manner and means of their application by the consumer, are available: https://www.idbank.am/content/handling-of-customer-complaints/

Detailed information on the system  is available: http://www.sigue.ru