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 fee4
Current account
AMD 3,000
Savings account2
AMD 3,000
Additional account opening fee4
Current account
Savings account2
AMD 3,000
AMD 3,000
Monthly service fee
Current account: Individuals
AMD 3005
Current account: Sole entrepreneurs
AMD 5005
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 3005
AMD 5005
Current account: Individuals
Savings account2
AMD 3005
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 No charge will be applied, if the additional account is opened via Internet Banking.

5 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 currency6

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 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 1,0007

 

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 3,0008 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 1,0007

 

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 3,0008 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)9
Transfer from account10
AMD 30011*
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)9
Transfer from account10
Credit of received funds to account
AMD 30011*
Free
Transfer from account10
Amendment or cancellation of payment instructions
AMD 30011*
AMD 5,000 one-off
Transfer from account10
Demand draft issuance
AMD 30011*
AMD 6,000 one-off
Transfers in USD/EUR
Outward remittances of funds paid in cash 0.3%12
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%12
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
USD 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
USD 50,000 and above
Commission
0.1%

9 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.

10 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.

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

12If 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 5,00013

 

 

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 5,00013

 

 

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

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

13 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.

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 transactionsperformed 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 transactionsperformed 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.

Last updated on: 1/7/2019 08:46:49