HSBC Savings Account
With the HSBC Savings Account you will get:
Possibility to use the account free of charge if average monthly balance on the savings account for the month is AMD 100,000 or above
Things you should know
Tariffs and terms
- Account opening fee: AMD 3,0003
- Additional account opening fee: AMD 3,0004
- Irrespective of the fact whether the Customer uses the saving account or not, monthly charge of AMD 2,000 will be applied, if the average monthly balance of saving 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 a term deposit maturity or interest payment account
- Annual interest rate calculated on the funds available on savings account is 0 %
- Savings account can be opened by individual Customers only
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.
ATM card is intended for performing cash transactions via ATMs. For non-cash transactions and payments HSBC Bank Armenia offers range of credit and payment cards which are available at https://www.hsbc.am/en-am/credit-cards/.
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.
Deposit compensation guaranteed limits
The monetary funds available on the bank accounts are guaranteed by the Deposit Guarantee Fund of Armenia in accordance with RA Law on Guaranteeing Compensation of Bank Deposits. Amounts of guaranteed deposits defined by the Law are as follows5:
- If you have only dram denominated bank deposit in the same bank, the maximum amount of the guaranteed deposit is AMD 10 million
- If you have only foreign currency denominated bank deposit in the same bank, the maximum amount of the guaranteed deposit is AMD 5 million
- If you have dram and foreign currency denominated bank deposits in the same bank, and the size of the dram denominated deposit exceeds AMD 5 million, only up to AMD 10 million of the dram denominated deposit is guaranteed
- If you have dram denominated bank deposit and foreign currency denominated bank deposit in the same bank, and the dram denominated bank deposit is less than AMD 5 million, subject to guarantee is the full amount of dram denominated bank deposit and the foreign currency denominated bank deposit in the amount which is equal to difference between AMD 5 million and the reimbursed dram denominated bank deposit.
Customer’s rights of disposing his/her bank account and the monetary funds available therein can be restricted on the decisions issued by the Judicial Acts Compulsory Enforcement Service or Tax authorities based on court verdict.
Тhe Customer can be informed about it after the Bank has executed the decision on attachment.
Levy of monetary funds without order of the Customer can be executed on the decisions issued by Judicial Acts Compulsory Enforcement Service and Tax authorities based on court verdict.
The Customer can be informed about it after the Bank has executed the decision on levy of monetary funds from the Customer’s account.
5For more details, please visit www.adgf.am , the official web site of the Deposit Guarantee Fund of Armenia.
HSBC customers can apply by clicking on the button below.
Get your salary, send and receive local and international transfers – everything with only one bank account.
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.
Last updated on: 30/5/2019 09:35:54