Accounts

Accounts

Choose the account that's right for you

Choose any of the offered accounts and manage your accounts through branch, ATM, internet and phone banking channels at your convenience

Current account

Ideal for
receiving salary

Account opening fee
AMD 3,000

Monthly service fee
AMD 300

Available in

AMD, USD, EUR, GBP, RUB, JPY

Free ATM card
Yes

Get your salary, send and receive local and international transfers, make free of charge encashments1 – everything with only one bank account. Your funds are accessible through our branch network, more than 50 ATMs in Armenia and thousands of ATMs abroad, internet and phone banking services.

Key features and benefits
  • Available in AMD and foreign currency  (USD, EUR, GBP, RUR, CNY and JPY)
  • Customers can apply for a chequebook in case of AMD and USD accounts
  • Free of charge international VISA PLUS ATM card
  • No requirement for account minimum deposit
  • Full control via internet and phone banking services
Tariffs and terms
  • Account opening fee for individuals - AMD 3,000
  • Account opening fee for sole entrepreneurs - AMD 5,000
  • Additional account opening fee - AMD 3,0002
  • Account monthly maintenance fee for individuals - AMD 3003
  • Account monthly service fee sole entrepreneurs - AMD 5003
  • Monthly maintenance fee will be applied irrespective of the fact whether the customer uses the account or not.
  • Average quarterly balance and minimal annual turnover (only applicable to sole entrepreneurs)
    • If the aggregate average quarterly balance of all bank accounts held by a sole entrepreneur at the end of the first business day of any given month is below AMD 5,000,000 (or in case of foreign currency accounts equivalent foreign currency) for preceding three months, an additional maintenance fee in the amount of AMD 100,000 will be applied each month.
    • Minimal annual turnover, based on tax reports and/or other verifiable data for the last financial year should be AMD 200,000,000 or more.
  • This charge will not be applied if the account acts as term deposit maturity or interest payment account.
Other things you need to know
  • Free of charge international VISA PLUS ATM card is provided with your current account. You can choose to have two accounts attached to one ATM card, and up to two additional ATM cards attached to your current account.
  • You can get your monthly itemised statement delivered to your postal address, sent via email or collected from the branch of your choice. Regardless of the branch where your current account is opened, you can make transactions in any of our branches.

1 Only with Visa Plus ATM cards on HSBC Armenia ATMs
2 No charge will apply, if the additional account is opened via internet banking
3 Any foreign exchange transactions will be conducted at the Bank's exchange rate

 

Savings account

Ideal for
saving your money

Account opening fee
AMD 3,000

Monthly service fee
free

Available in

AMD, USD, EUR, GBP, RUB, JPY

Free ATM card
Yes

Get a saving account with no monthly fee1, and use it for your day to day banking, send and receive transfers, receive salary and make free encashment of your funds2. Enjoy saving with HSBC with full access to your money anytime, anywhere when you need it.

Key features and benefits
  • Available in AMD and foreign currency   (USD, EUR, GBP, RUR, CNY and JPY)
  • Free of charge international VISA PLUS ATM card
  • Possibility to use the account free of charge, in case if average monthly balance on the savings account for the subject month is AMD 100,000 or above
Tariffs and terms
  • Account opening fee - AMD 3,000
  • Additional account opening fee - AMD 3,0003
  • Irrespective of the fact whether the customer uses the savings account or not, a charge of AMD 2,0004 will be applied monthly, if the average monthly balance of savings account for the subject month is below AMD 100,000 (or equivalent in other currencies).
  • This charge will not be applied if the account acts as term deposit maturity or interest payment account.
Other things you need to know
  • Free of charge international ATM Plus card is provided with your saving account. You can choose to have two accounts attached to one ATM card, and up to two additional ATM cards attached to your saving account.
  • You can get your monthly itemised statement delivered to your postal address, sent via email or collected from the branch of your choice. Regardless of the branch where your savings account is opened, you can make transactions in any of our branches.
  • Savings account can be opened by Individual customers only.

1 A charge of AMD 2,000 will apply monthly if the average monthly balance of savings account for the subject month is below AMD 100,000 (or equivalent in other currencies)
2 Only with Visa Plus ATM cards on HSBC Armenia ATMs
3 No charge will apply if the additional account is opened via internet banking
4 Any foreign exchange transactions will be conducted at the Bank's exchange rate

 

Minor account

Ideal for
individuals under
age of 18

Account opening fee
free

Monthly service fee
free

Available in

AMD, USD, EUR, GBP, RUB, JPY

Free ATM card
Yes

If you are looking for a special account to save money for your child then our free of charge minor account is your right choice.

Key features and benefits
  • Available in AMD, USD, EUR
  • Free of charge account opening
  • Free of charge account maintenance
  • No requirement for account minimum deposit
Other things you need to know
  • Itemized statements are provided on regular basis
  • Account can be opened either by parents/legal representatives as well as by third party
  • Regardless of the branch your current account was opened in, it can be fully serviced at any of our branches

Important note. Any accounts denominated in a currency other than Armenian Dram (AMD) have additional risks associated with currency fluctuations. Movement in exchange rates may have effect on the value of your foreign currency deposit in AMD equivalent.

 

Unallocated Gold account

Designated to hold bank account in Unallocated gold

Account opening fee
FREE

Monthly service fee varies depending on account average balance

Available in

XAU only

Free ATM card
No

Unallocated Gold Account

Unallocated gold metal account is a standard bank account with unallocated gold as its currency. Starting from the 4th of May of 2015 unallocated gold metal account opening is demised.*

Tariffs and Terms
  • Account opening fee – Free*
  • Monthly maintenance fee1 will be applied to AMD equivalent of the average daily balance 2 of unallocated gold account as follows:
AMD equivalent of average daily balance of unallocated gold metal account Monthly Maintenance Fee
Below or equal to 6,500,000 0.08%
6,500,001 - 65,000,000 0.04%
Above 65,000,000 0.01%

Monthly maintenance fee will be applied irrespective of the fact whether the customer uses the account or not.

All types of charges are debited / paid in AMD. As a rule, all charges will be debited / paid from the metal account. The bank reserves the right to conduct an unallocated gold exchange transaction for the amount to be charged in AMD. Unallocated gold exchange transaction will be conducted at the Central Bank of Armenia (CBA) gold accounting rate, unless it is specified otherwise in this Tariff of Charges.

Other things you need to know

Minimum required threshold for deposit or transaction with the metal account - 1 troy ounce

  • 1 troy ounce equals to 31.10348 grams

Transfers from unallocated gold account are available for HSBC Bank Armenia account holders only. Transfer fee comprises 0.1%1 of the transferred amount.

Transfers between accounts held at HSBC Bank Armenia - Free

Important note. Unallocated gold metal account is a foreign currency account, which means that fluctuation in XAU exchange rates may have both positive and negative effect on the value of your Unallocated gold metal account in AMD equivalent.

*Effective 04 May, 2015 unallocated gold metal account opening is terminated
1 Exchange transactions will be conducted at the Bank's unallocated gold buy exchange rate.
2 AMD equivalent of the average daily balance of unallocated gold account is calculated based on the daily gold accounting rate announced by the Central Bank of Armenia.

 

Escrow account

Ideal for
secure settlements during real estate sale and purchase transactions

Account opening fee
0.5% of escrow amount

Monthly service fee
free

Available in

AMD

Free ATM card
No

Ensure a secure settlement during real estate sale and purchase transactions with our Escrow account

Key features and benefits
  • A transitory account for ensuring secure settlements between the parties to real estate sale and purchase transactions
  • Real estate buyer and seller decide on terms of escrow amount payment, the following options apply:
    - Paid to the Seller
    within the time period stipulated under the Escrow agreement upon presenting to the bank the Buyer's ownership certificate to the subject property or one copy of the real estate notarized sale and purchase agreement,
    or
    - Paid to the Buyer
    in case of the failure to present the mentioned documents to the Bank within the term set out under the Escrow agreement or in the event an original document issued by the State Committee of the Real Estate Cadastre on rejecting the Buyer' right to the Property arising out of and in connection with the Sale and Purchase agreement is provided
Tariffs and terms
  • A service fee in the amount of 0.5% of escrow amount (minimum AMD 100,000, maximum AMD 500,000) is charged for opening an Escrow Account.
 

Note: In case of discrepancies between the Armenian and English versions of this page, the Armenian version shall prevail.

Last updated on: 08/11/2016 15:00

 

List of documents necessary to open an account1

For individuals (RoA citizens and foreign citizens enjoying residency status and residing in the Republic of Armenia, persons with no citizenship and persons with a refugee status)

  • Account opening application signed by the individual
  • Passport / other personal identification document 2,3
  • Any of the below documents on public services number:
    - ID card
    - Social security card
    - a reference from RA Police department on absence of public services number
    - a reference from RA Police department on allocation of public services number

For individuals (foreign citizens)

  • Account opening application signed by the individual
  • Passport / other personal identification document 2,3

Notes

1 Additional documents may be requested by the Bank during account opening process.
2 The original of the document is returned to the Customer and the copy thereof is kept with the Bank.
3 Other personal identification document is according to 22/12/1999 number 767 Government decision.

Notes

1 Additional documents may be requested by the Bank during account opening process.
2 The original of the document is returned to the Customer and the copy thereof is kept with the Bank.
3 Other personal identification document is according to 22/12/1999 number 767 Government decision.

 
 

Foreign currency account purpose

With HSBC foreign currency accounts, you can easily manage your funds in the currency of the account. These accounts are designed to support your foreign currency needs, with easy access to your funds through our Internet, Mobile and 24/7 Phone Banking services wherever you are in the world. You can convert your funds into any other currency at the exchange rate applicable for your account currency at the time of transaction.

Foreign currency account is the right product:

  • For sending and receiving payments to/from overseas or local beneficiaries to settle your financial obligations and settlements in foreign currency
  • For supporting your international lifestyle
  • When sending your children to oversees schooling
  • When travelling overseas, for holiday spending money
  • When thinking of either buying or selling your home with proceeds outside of Armenia
  • For importing your car from outside of Armenia
  • For sending cash gifts to your relatives and friends abroad
  • Meeting your needs of keeping your savings in economically stable and preferred currency

Important note. Any accounts denominated in a currency other than Armenian Dram (AMD) have additional risks associated with currency fluctuations. Movement in exchange rates may have effect on the value of your foreign currency deposit in AMD equivalent.