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Tariff of charges

Information bulletin for individuals and sole entrepreneurs

General Conditions

All terms and charges related to products and services offered by “HSBC Bank Armenia” CJSC are subject to amendments and modifications.

For complete, detailed, up to date information and upcoming changes on “HSBC Bank Armenia” CJSC products and services, please contact any of our offices/branches or visit our website at www.hsbc.am.

All types of charges are debited/paid in AMD.

As a rule, all charges will be debited/paid from the account to which the banking transaction has been effected. If the subject account is in foreign currency, the bank reserves the right to conduct a foreign exchange transaction for the amount to be charged in AMD. The foreign exchange transaction will be conducted at the average/mean foreign currency rate published by the Central Bank of Armenia (CBA) as of the previous/current day of transaction (depending on the time of the transaction), unless it is specified otherwise in this Tariff of Charges.

The Bank may at its discretion apply discounts for fees stipulated in the “Tariff of Charges” or waive the respective fees, if the Customer meets one of the criteria mentioned below:

  • The Customer has account record with the Bank for a period of at least 12 months, and the Customer average account balance or credit turnover for the last 3 months is above AMD 100,000 or its equivalent in other currency, or
  • The Customer is an employee of a company, whose employees’ salary accounts are held with the Bank, whereas number of employees of the company and average salary should meet the minimum threshold defined by the Bank.

Account opening and servicing1

Account opening fee
Current account
 
Individuals
AMD 3,000
Sole entrepreneurs

AMD 5,000
Minimal annual turnover is applicable for account opening.

 

Savings account2
AMD 3,000
Minor account (up to 18 years old)
Free

Time deposit3 (including cumulative

account)

Free
Escrow account
0.5% of escrow amount (minimum AMD 100,000, maximum AMD 500,000)
Account opening fee
Current account
Individuals
  AMD 3,000
Current account
Sole entrepreneurs
 

AMD 5,000
Minimal annual turnover is applicable for account opening.

 

Current account
Savings account2
  AMD 3,000
Current account
Minor account (up to 18 years old)
  Free
Current account

Time deposit3 (including cumulative

account)

  Free
Current account
Escrow account
  0.5% of escrow amount (minimum AMD 100,000, maximum AMD 500,000)

Escrow account is a one-time account service provided by the Bank for ensuring secure settlements between the parties to real estate property sale and purchase transactions.

Additional account opening fee
Current account
AMD 3,000
Savings account2
AMD 3,000
Additional account opening fee
Current account
Savings account2
AMD 3,000
AMD 3,000
Monthly service fee
Current account: Individuals
AMD 3004
Current account: Sole entrepreneurs
AMD 5004
Savings account2
Free (no charge applies, if the monthly average balance requirement is met.)
Monthly service fee
Current account: Individuals
Current account: Sole entrepreneurs
AMD 3004
AMD 5004
Current account: Individuals
Savings account2
AMD 3004
Free (no charge applies, if the monthly average balance requirement is met.)

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

Monthly service fee will not be applied if the current account acts as term deposit maturity or interest payment account.

Minimum deposit
Current account
Not required
Savings account
Not required
Time deposit (including cumulative account)

AMD 100,000
USD 500

EUR 500

Minimum deposit
Current account
Savings account
Not required
Not required
Current account
Time deposit (including cumulative account)
Not required

AMD 100,000
USD 500

EUR 500

Note

For the list of documents required for opening bank account please refer to our website at www.hsbc.am, visit any of our branches/offices or call us at +374 60 655 000.

Important note

No interest rate is calculated on the funds available on accounts.

1 For details on account opening procedure and other account related information please refer to “Individual customer accounts” information bulletin.

2 Savings account can be opened by Individual customers only.

3 Time deposit account can be opened, only if AMD savings/current account already exists.

4 Any foreign exchange transactions will be conducted at the Bank’s exchange rate.

Average balance requirement
Individuals
Sole entrepreneurs

Average monthly balance requirement

(applicable for savings account only)

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 acts as term deposit maturity or interest payment account.

Average quarterly balance requirement

 

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.

Average balance requirement
Individuals

Average monthly balance requirement

(applicable for savings account only)

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 acts as term deposit maturity or interest payment account.

Sole entrepreneurs

Average quarterly balance requirement

 

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 requirement
Individuals
Sole entrepreneurs

Not applicable

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.

Minimal annual turnover requirement
Individuals

Not applicable

Sole entrepreneurs

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.

Note on accounts opened in foreign currency5

You can open foreign currency accounts in HSBC Bank Armenia for which the terms and fees presented in this leaflet apply. These accounts are designed to support your foreign currency needs, with easy access to your funds. You can convert your funds into any other currency at the exchange rate applicable for your account currency at the time of transaction.

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.

Full list of foreign currencies are available on our website www.hsbc.am or in “Bank accounts for individual” booklet

International VISA PLUS ATM Cards

Card issuance fee
Free

Card monthly service fee

  • Individuals
  • Sole entrepreneurs 

 

  • Free
  • AMD 1,0006

 

Additional card issuance fee
AMD 3,000 one-off

Additional card service fee

  • Individuals (applied annually)
  • Sole entrepreneurs(applied monthly)

 

  • AMD 6,000
  • AMD 1,000
Card replacement
AMD 3,0007 one-off
Transfer of funds between accounts held at the bank
Free

Daily transfer limit of funds between accounts held at the bank (in AMD)

Fee
Individuals
AMD 1,000,000
Sole entrepreneurs

AMD 3,000,000

Cash withdrawal at bank’s ATMs
Free

Cash withdrawal daily limit (in AMD)

Fee
Individuals
AMD 500,000
Sole entrepreneurs
AMD 500,000
Fee for each cash withdrawal at other banks’ ATMs
AMD 2,000 one-off

International VISA PLUS ATM Cards

Card issuance fee

Card monthly service fee

  • Individuals
  • Sole entrepreneurs 
Free

 

  • Free
  • AMD 1,0006

 

Card issuance fee
Additional card issuance fee
Free AMD 3,000 one-off
Card issuance fee

Additional card service fee

  • Individuals (applied annually)
  • Sole entrepreneurs(applied monthly)
Free

 

  • AMD 6,000
  • AMD 1,000
Card issuance fee
Card replacement
Free AMD 3,0007 one-off
Card issuance fee
Transfer of funds between accounts held at the bank
Free Free
Card issuance fee

Daily transfer limit of funds between accounts held at the bank (in AMD)

Free
Fee
Card issuance fee
Individuals
Free AMD 1,000,000
Card issuance fee
Sole entrepreneurs
Free

AMD 3,000,000

Card issuance fee
Cash withdrawal at bank’s ATMs
Free Free
Card issuance fee

Cash withdrawal daily limit (in AMD)

Free
Fee
Card issuance fee
Individuals
Free AMD 500,000
Card issuance fee
Sole entrepreneurs
Free AMD 500,000
Card issuance fee
Fee for each cash withdrawal at other banks’ ATMs
Free AMD 2,000 one-off

Monthly service fee is charged at the beginning of each month for the preceding month.

No charge will be applied, if card replacement is done via Internet/Mobile or Phone Banking services. Card will be sent to the branch of your choice within 5 working days after receipt of the request.

Money Transfers/Demand Drafts

Transfers in AMD (within Armenia)8
Transfers from account9
AMD 30010*
Credit of received funds to account
Free
Amendment or cancellation of payment instructions
AMD 5,000 one-off
Demand draft issuance
AMD 6,000 one-off
Transfers in AMD (within Armenia)8
Transfers from account9
Credit of received funds to account
AMD 30010*
Free
Transfers from account9
Amendment or cancellation of payment instructions
AMD 30010*
AMD 5,000 one-off
Transfers from account9
Demand draft issuance
AMD 30010*
AMD 6,000 one-off
Transfers in USD/EUR
Outward remittances of funds paid in cash 0.3%11
Outward remittances of non-cash funds/subject to foreign currency exchange
0.1%
Transfers in USD/EUR
Outward remittances of funds paid in cash Outward remittances of non-cash funds/subject to foreign currency exchange
0.3%11
0.1%
Transfers in currencies other than USD/EUR
Outward remittances of funds paid in cash
3%
Outward remittances of non-cash funds/subject to foreign currency exchange
0.3%
Transfers in currencies other than USD/EUR
Outward remittances of funds paid in cash
Outward remittances of non-cash funds/subject to foreign currency exchange
3%
0.3%

Preferential rates (for all foreign currencies except for cases when funds were deposited in cash in currencies other than USD/EUR)

Account holders, depending on volumes of their account turnover, may receive the following preferential rates:
Average monthly turnover of outward remittance volumes for last 3 months, expressed in USD
Commission
50,000 and above
0.1%
Account holders, depending on volumes of their account turnover, may receive the following preferential rates:
Average monthly turnover of outward remittance volumes for last 3 months, expressed in USD
50,000 and above
Commission
0.1%

8 In case of AMD transfers within Armenia, if the transferred amount contains luma, the amount will be rounded up to the decimal point according to standard rounding rule.

9 If the payment instruction (for amounts of up to AMD 25 million) is submitted to the Bank after 14:00, but not later than 15:00 and requested to be processed on the same day, a charge of AMD 5,000 will be applied by the Bank. Payment instructions submitted to the Bank via Internet/Mobile and Phone Banking before 15:00 will be processed same day free of charge.

10 Any foreign exchange transactions will be conducted at the Bank’s exchange rate.

11If the transfer has been effected via Internet/Mobile or Phone Banking services a reduced charge of 0.1% (minimum AMD 6,000) will be applied.

* No charge will be applied, if the payment instruction has been received via Internet/Mobile or Phone Banking.

Other conditions
Transfers between accounts held at the Bank
Free
Amendment to foreign currency payment instruction
AMD 20,000 one-off
Cancellation of foreign currency payment instruction
AMD 20,000 one-off
Payment investigation fee (can be charged irrespective of the outcome of the conducted investigation)
AMD 20,000 one-off
Credit of foreign currency inward remittance amounts to account if the remitter has not paid the charges yet
AMD 6,000 one-off
Other conditions
Transfers between accounts held at the Bank
Amendment to foreign currency payment instruction
Free
AMD 20,000 one-off
Transfers between accounts held at the Bank
Cancellation of foreign currency payment instruction
Free
AMD 20,000 one-off
Transfers between accounts held at the Bank
Payment investigation fee (can be charged irrespective of the outcome of the conducted investigation)
Free
AMD 20,000 one-off
Transfers between accounts held at the Bank
Credit of foreign currency inward remittance amounts to account if the remitter has not paid the charges yet
Free
AMD 6,000 one-off
Important notes
Minimum commission for any foreign currency outward remittance or Demand Draft issuance
AMD 6,000

Commissions if intermediary/beneficiary bank charges are paid by the remitter, for the beneficiary to receive the amount without any additional charges

  • Outward remittances in USD to any bank located in the United States: AMD 5,000
  • Outward remittances in USD to any bank located outside the United States: AMD 10,0000 
  • Outward payments in other foreign currencies: AMD 5,00012

 

 

Commission for outward payments in USD to any bank located outside the United States, where the remitter pays only the first intermediary bank charges and the beneficiary receives the amount after charges applied by other intermediary/beneficiary banks 
AMD 5,000
Important notes
Minimum commission for any foreign currency outward remittance or Demand Draft issuance

Commissions if intermediary/beneficiary bank charges are paid by the remitter, for the beneficiary to receive the amount without any additional charges

AMD 6,000
  • Outward remittances in USD to any bank located in the United States: AMD 5,000
  • Outward remittances in USD to any bank located outside the United States: AMD 10,0000 
  • Outward payments in other foreign currencies: AMD 5,00012

 

 

Minimum commission for any foreign currency outward remittance or Demand Draft issuance
Commission for outward payments in USD to any bank located outside the United States, where the remitter pays only the first intermediary bank charges and the beneficiary receives the amount after charges applied by other intermediary/beneficiary banks 
AMD 6,000
AMD 5,000

The bank is not liable for any refund if payment has already been effected to the beneficiary

It is Bank's responsibility to provide receipt to customer for each provided service

Intermediary/beneficiary bank charges may be paid either at the expense of beneficiary or remitter, at customers’ decision and with the prior consent of the bank

"HSBC Bank Armenia" CJSC does not accept foreign currency transfers to its foreign exchange nostro accounts with Central bank of Armenia, with the exception of transfers received from RA banks where beneficiary is “Armenian Card” CJSC.13 Transfers in foreign currency should be done via "HSBC Bank Armenia" CJSC accounts, according to transfer requisites, terms and conditions. 

12 If the actual charge amount is above equivalent of AMD 20,000 the difference between already paid commission and actual charge is subject to further debiting from remitter’s account.

13 Effective from 12/03/2016

Express Banking

Internet and Mobile Banking14

Internet Banking

registration fee

Free

Mobile Banking service

registration fee 15

Free
Maintenance
Free

Online Security device

replacement

  • If damaged/not functioning: free 
  • If lost or stolen (device is not available): AMD 5,000*

SMS alert service

(Internet Banking registration

is required for using SMS

alert services)

Free
Banking services

As per Tariff of

Charges of transactions

performed via Internet Banking

Internet and Mobile Banking14

Internet Banking

registration fee

Mobile Banking service

registration fee 15

Free
Free

Internet Banking

registration fee

Maintenance
Free
Free

Internet Banking

registration fee

Online Security device

replacement

Free
  • If damaged/not functioning: free 
  • If lost or stolen (device is not available): AMD 5,000*

Internet Banking

registration fee

SMS alert service

(Internet Banking registration

is required for using SMS

alert services)

Free
Free

Internet Banking

registration fee

Banking services
Free

As per Tariff of

Charges of transactions

performed via Internet Banking

Important note

The Bank may terminate the agreement on processing of instructions submitted via Internet/Mobile Banking service in case customer’s profile is not active (not logged in to the system) during the last 12 months.

Phone Banking
Phone Banking sign-up fee
AMD 1,000
Maintenance
Free
Banking services
as per Tariff of Charges of transactions performed via Phone Banking 
Phone Banking
Phone Banking sign-up fee
Maintenance
AMD 1,000
Free
Phone Banking sign-up fee
Banking services
AMD 1,000
as per Tariff of Charges of transactions performed via Phone Banking 

Important note

The Bank may terminate the agreement on processing of instructions submitted via Telephone banking (Phone Banking) signed between the Bank and the customer in case if no transaction is done via Phone Banking during the last 12 months.

14 Internet and Mobile Banking services are available for Individuals only.

15 Mobile Banking service is available to HSBC Bank Armenia Internet Banking users only.

* Inclusive of VAT.

Bank account statements / other documentation delivery

By courier
Within Armenia
 
Monthly
Free
Outside Armenia (delivery via standard mail only)
 
Monthly (charged monthly)
25,00016*
By courier
Within Armenia
Monthly
  Free
Within Armenia
Outside Armenia (delivery via standard mail only)
   
Within Armenia
Monthly (charged monthly)
  25,00016*
By e-mail
Monthly, weekly, daily
Free
By e-mail

By Internet17

Monthly, weekly, daily
Free

By Internet17

Collection from branches
Monthly, weekly, daily
Free
Collection from branches

16 Any foreign exchange transactions will be conducted at the Bank's exchange rate.

17 For customers using Internet Banking services.

Other services

Other banking services
Power of attorney issuance
AMD 5,000
Advices confirming bank account / loan information / balance18
AMD 5,00019
Advices confirming bank account/loan information/balance when requesting via internet/Mobile or Phone Banking services
AMD 1,00020
Loan account advice for income tax reimbursement purpose
Free
Bank confirmation of information for audit purposes (applicable for Sole entrepreneurs only)

AMD 10,000*

 

 

For each copy of bank account statement/transaction advice (if earlier than 6 months)

AMD 3,00020

For transaction history advice of each month (if earlier than 6 months)

AMD 3,00020

Other services

Other banking services
Power of attorney issuance
Advices confirming bank account / loan information / balance18
AMD 5,000
AMD 5,00019
Power of attorney issuance
Advices confirming bank account/loan information/balance when requesting via internet/Mobile or Phone Banking services
AMD 5,000
AMD 1,00020
Power of attorney issuance
Loan account advice for income tax reimbursement purpose
AMD 5,000
Free
Power of attorney issuance
Bank confirmation of information for audit purposes (applicable for Sole entrepreneurs only)
AMD 5,000

AMD 10,000*

 

 

Power of attorney issuance
For each copy of bank account statement/transaction advice (if earlier than 6 months)
AMD 5,000

AMD 3,00020

Power of attorney issuance
For transaction history advice of each month (if earlier than 6 months)
AMD 5,000

AMD 3,00020

18 Balance confirmations will be presented as of the date and time of confirmation request.

19 AMD 10,000 will apply, if the customer is Bank account holder for less than 6 months (including orders submitted via Internet/Mobile or Phone Banking).

20 Advices/statements will be sent to the branch of your choice within 3 - 5 working days after receipt of the request.

Cash operations
Cash deposit in branches
Free
Cash deposit through ATM21 Free
Cash withdrawal of funds deposited in cash (AMD, USD, EUR)21 Free
Cash withdrawal of not cash funds in AMD22 0.2%, minimum AMD 1,000
Cash withdrawal of not cash funds in USD/EUR23

Up to 1,000: AMD 2,000

 

1,000 and above: 0.5%

In other currencies
1.5%, minimum AMD 2,000
POS encashment from cards not issued by HSBC Bank Armenia 
1%

Exchange of mutilated/out of circulation foreign currency banknotes, if all necessary distinctive characteristics and parts are available24

5%
Cash operations
Cash deposit in branches
Cash deposit through ATM21
Free Free
Cash deposit in branches
Cash withdrawal of funds deposited in cash (AMD, USD, EUR)21
Free Free
Cash deposit in branches
Cash withdrawal of not cash funds in AMD22
Free 0.2%, minimum AMD 1,000
Cash deposit in branches
Cash withdrawal of not cash funds in USD/EUR23
Free

Up to 1,000: AMD 2,000

 

1,000 and above: 0.5%

Cash deposit in branches
In other currencies
Free 1.5%, minimum AMD 2,000
Cash deposit in branches
POS encashment from cards not issued by HSBC Bank Armenia 
Free 1%
Cash deposit in branches

Exchange of mutilated/out of circulation foreign currency banknotes, if all necessary distinctive characteristics and parts are available24

Free 5%

21 Maximum daily limit – AMD 1,000,000 to each of the accounts linked to ATM card.

22 For other currencies please refer to the tariff of cash withdrawal of not cash funds.

23 Not applicable in case of exchange and/or transfers from customer's other accounts and in case of cash withdrawals under credit facilities (excluding credit cards) provided by the Bank.

24 Service is available for HSBC Bank Armenia customers. For non customers the service is available in case foreign exchange transaction is conducted (daily exchange limit is maximum AMD 400,000).

Safe deposit lockers25

Safe Deposit Lockers are available for rental on either a monthly or an annual basis for HSBC STATUS customers only

Fee (available for term of up to one year) 

Extra large
AMD 200,000*
Large
AMD 120,000*
Medium
AMD 90,000*
Small
AMD 50,000*

Safe deposit lockers25

Safe Deposit Lockers are available for rental on either a monthly or an annual basis for HSBC STATUS customers only

Fee (available for term of up to one year) 

Extra large
Large
AMD 200,000* AMD 120,000*
Extra large
Medium
AMD 200,000* AMD 90,000*
Extra large
Small
AMD 200,000* AMD 50,000*
Fee (available for term of up to one month)
Extra large
AMD 50,000*
Large, Medium
AMD 30,000*
Small
AMD 15,000*
Fee (available for term of up to one month)
Extra large
Large, Medium
AMD 50,000*
AMD 30,000*
Extra large
Small
AMD 50,000*
AMD 15,000*
Other fees
Safe deposit lockers (access fee applicable in case of more than 2 visits per week) - charged for each additional visits
AMD 10,000*
Access to safe deposit box, in case if customer does not have own key
AMD 5,000*
Recovery of lost key AMD 15,000*
Other fees
Safe deposit lockers (access fee applicable in case of more than 2 visits per week) - charged for each additional visits
Access to safe deposit box, in case if customer does not have own key
AMD 10,000*
AMD 5,000*
Safe deposit lockers (access fee applicable in case of more than 2 visits per week) - charged for each additional visits
Recovery of lost key
AMD 10,000*
AMD 15,000*

25 Customer can have only one of the following sized lockers simultaneously: 1 extra-large or 1 large or 2 medium or 2 small or 1 medium and 1 small size locker.

* Inclusive of VAT

Cheques and chequebooks26

Issuing chequebook
Free
Placement of "Stop Payment" instruction
AMD 3,000
Removal of "Stop Payment" instruction
Free
Return of cheque due to insufficient funds
AMD 5,000
Other cheques  
Deposit of each cheque into the account AMD 50,00027

Cheques and chequebooks26

Issuing chequebook
Placement of "Stop Payment" instruction
Free AMD 3,000
Issuing chequebook
Removal of "Stop Payment" instruction
Free Free
Issuing chequebook
Return of cheque due to insufficient funds
Free AMD 5,000
Issuing chequebook
Other cheques
Free  
Issuing chequebook
Deposit of each cheque into the account
Free AMD 50,00027

Returned unpaid cheques are subject to a charge of AMD 10,000 plus intermediary/returning bank charges

Important note

Other bank cheques are accepted only from account holders having at least 6 (for a bank cheque) or 12 (for a personal and corporate cheque) months satisfactory banking relationship.

 

26  Chequebooks are provided to current account holders only in AMD and USD

27 The fee includes postal delivery expenses associated with sending the cheque to the issuing bank

Last updated on: 12.06.20, 10:28