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Transfers within and out of the Republic of Armenia

Transfers

within and out of the Republic of Armenia

Money transfer system offered by IDBank enables you to make transfers within and outside the Republic of Armenia, where the beneficiary is released from the obligation to make additional payments.
Upon the receipt of a payment order for transfers denominated in AMD on or before 15:30 the transfer is executedwithin the same banking day; if the payment order is received after the indicated time, the transfer will be executed the following banking day. Express money transfers in Armenian drams within the Republic of Armenia can be executedon the same banking day upon the receipt of the payment order on or before 15:45.
In case of accepting the payment order for transfers in foreign currency before 17:00, the transfer is executed on the same banking day, in case it’s received after the indicated time, the transfer is executed on the next banking day.

Applicable tariffs

2. TRANSFERS WITHIN AND OUTSIDE THE RA TERRITORY 1
NAME OF SERVICE PROVIDED TARIFF
AMD
2.1 Transfers in AMD on the RA territory through bank account free of charge
2.2 Urgent transfers in AMD on the RA territory through bank account 2 0.1%, 
Minimum 500, maximum 10,000
2.3 Transfers in ADM on the RA territory without a bank account
2.3.1 Up to 100 thousand AMD         
2.3.1.1 In case of transactions in favor of legal entities and PEs 250
2.3.1.2 For physical entities 100
2.3.2 100 thousand AMD and over
2.3.2.1 In case of transactions in favor of legal entities and PEs 500
2.3.2.2 For physical entities 200
2.4 Intrabank (within the IDBank system) transfers between IDBank clients in ADM and foreign currency free of charge
2.5 Transfers in foreign currency3
2.5.1         Transfers through bank account
2.5.2 USD, Euro4, 7
2.5.2.1 OUR variant: 
The transaction costs are borne by the client making the transfer
0.15%, 
Minimum 6,000, 
maximum 50,000
2.5.2.2 Guaranteed OUR variant: 
In case of selecting this variant, the beneficiary will receive the whole amount
a) In case of USD – in addition to paragraph 2․5․2 the following charges apply: 12,000
b.1) up to 12,500 EUR inclusive 12,000
b․2) over 12,500 EUR 0.15%, 
Minimum 14,000, 
maximum 50,000
2.5.2.3 BEN/SHA variant 
Transaction costs of third banks are charged from the money transferred
5,000
2.5.3 Rubles, Lari 4

Performed only with OUR variant, moreover, the beneficiary will receive the whole amount 0.05%, 
Minimum 3,000, 
maximum 20,000
2.5.4 In other currencies acceptable for the Bank4, 5  
2.5.4.1 OUR variant 
The transaction costs are borne by the client making the transfer
0.15%, 
Minimum 14,000, 
maximum 60,000
2.5.5 Transfers in foreign currency without account are performed by the Bank exclusively in Rubles according to paragraph 2.5.3
2.6 Execution of the order on recalling the payment order or changing payment requisites according to the client’s application, making inquiries5,6
2.6.1 In AMD 1,000
2.6.2 In Rubles, Lari 10,000
2.6.3 In other currency  
2.6.3.1 In case of up to 1-year old payment orders 30,000
2.6.3.2 In case of payment orders more than 1 year old 125,000
2.7  Return of transfer by the correspondent bank as a result of submission of incomplete or incorrect details by the client 5
2.7.1 In AMD Free of charge
2.7.2 In Rubles, Lari 10,000
2.7.3 In other currency 20,000
2.8 Provision of copies of SWIFT messages 3,000
2.9 Return of unclear amounts received in foreign currency according to internal acts or at the request of the transferring bank
2.9.1 In Rubles Free of charge
2.9.2 In other currency*  
2.9.2.1 Up to 500 USD or equivalent in other currency 5,000
2.9.2.2 500 USD and over or equivalent in other currency 15,000
*Charged from the returnable amount in the equivalent currency
1The following schedule is defined for acceptance and execution of payment orders except for paragraph 2.4: 
Acceptance and execution of payment orders
Acceptance Execution Acceptance Execution
AMD Before 15:30 Same banking day After 15:30 Next banking day
USD, EUR, RUB Before 16:00 Same banking day After 16:00 Next banking day*
Other currency Within 3 banking days
* In case of transfers of up to 50,000 USD and 50,000 EUR, the execution day of which is a non-working day in the country of the correspondent bank, the transfer value date will be shifted to the next banking day, and in case of transfers over 50,000 USD, 50,000 EUR or in RUB the transfer will be made on the next banking day.

“Urgent” transfers in AMD on the RA territory are executed on the same banking day only in case of submission of the order before 15:45 of the same banking day in case of collection of all the corresponding commission fees. 
According to the bulleting available in the Bank, the latter can select the route /intermediary bank/ of transfer of monetary funds on its own without the preliminary consent of the client in case if the complete transfer route /intermediary bank/ is not mentioned in the payment order submitted by the client. 
4 In case of transfers exceeding 500,000 USD, 400,000 EUR/Swiss Franc, 30.0 million RUB, 350,000 British Pound, 50.0 million Japanese Yen, 1.0 million Georgian Lari and other currency equivalent to 500,000 USD (according to RA Central Bank settlement rate) (except for transfers made for the purpose of return of deposit placed in the Bank) the amount of 360,000 AMD is charged from non-resident legal entity clients. 
5 Tariffs of services included in these sections include the commission fee of the Bank’s correspondent banks. Costs of third banks, if any, are additionally charged from the client. 
In case of insufficient result of the execution of the order for reasons beyond the control of the Bank the paid commission fee amount is not subject to refund. 
Transfers of non-resident legal entities in EUR is executed only through OUR or BEN/SHA variants. In case of transfers in RUB and some other currencies the transfer order must contain the coding (if any) required by the legislation of the given country. 
The Bank can terminate or reject the transfer in case of failure to submit sufficient required information/documents related to the transaction based on the requirements of the correspondent bank, in cases prescribed by RA legislation and internal legal acts of the Bank.

detailed information on tariffs can be found here.

ATTENTION: THE BANK IS CONTROLLED BY THE RA CENTRAL BANK


The page was updated 21.07.2020 10:30
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