HSBC Armenia - Homepage
Account Types
1. Current account
- Available in AMD, USD, EUR, GBP, RUB, JPY
- Itemised statements are provided on regular basis
- Customers can apply for a chequebook for AMD and USD accounts
- Account opening fee - AMD 3,000
- Additional account opening fee - AMD 3,0001
- Account monthly maintenance fee - AMD 3002
- Monthly maintenance fee will be applied irrespective of the fact whether the customer uses the account or not.
- Monthly maintenance fee will not be applied if the current account is used for repayment of the time deposit and/or payment of time deposit interest.
- International ATM card - free
- Account minimum deposit - not required
2. Saving account
- Available in AMD, USD, EUR, GBP, RUB, JPY
- Itemised statements are provided on regular basis
- Account opening fee AMD 3,000
- Additional account opening fee - AMD 3,0001
- Account monthly maintenance fee - free*
- International ATM card - free
- Account minimum deposit - not required
- Irrespective of the fact whether the customer uses the savings account or not, a charge of AMD 2,000** will be applied monthly (by the end of the following month), 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 is used for repayment of the time deposit and/or payment of time deposit interest.
3. Minor account (up to 18 years old)
- Available in Armenian Drams, US dollars and Euro
- Itemised statements are provided on regular basis
- Account Opening Fee - free
- No account minimum deposit requirement
- No account minimum quarterly balance requirements
4. Escrow Account
An escrow account is one-time account service provided by HSBC Bank Armenia cjsc for ensuring secure settlements between the parties (the Buyer and the Seller) to real estate sale and purchase transactions. Escrow account is a transitory account which is credited by the Buyer, in cash or by transfer, with the respective amount subject to payment to the Seller under the Sale and Purchase agreement and with the amount payable to the bank as a commission fee. The funds are allocated between the parties in accordance with the procedure specified under the Escrow Agreements as follows:
- 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
A service fee, payable by the Buyer and/or the Seller, in the amount of 0.5% of escrow amount (minimum AMD 100,000, maximum AMD 500,000) is charged for opening an Escrow Account.
1 No charge will be applied, if the additional account is opened via Internet Banking.
2 Any foreign exchange transactions will be conducted at the Bank’s exchange rate.
* Effective for new accounts opened from 01/04/11 and existing accounts starting from 01/10/11. Old tariff of AMD 300 monthly fee will be applied to existing accounts until 01/10/11.
** Effective for new accounts opened from 01/04/11 and existing accounts starting from 01/10/11. Old tariff will be applied to existing accounts until 01/10/11. Charge of AMD 6,000 will be applied in case aggregate average quarterly balance of all current/ savings and deposit accounts held by customer for the subject quarter is below AMD 100,000 (or equivalent in other currencies) This charge is not applied, if the customer uses any of the credit facilities provided by the Bank.
