As a result of the coronavirus emergency, we have implemented a number of measures to protect our employees and customers. Please read on for all the latest advice on using our services in the coming weeks. This page will be updated regularly. 

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Bank online or by phone

To help prevent the spread of coronavirus, we recommend you bank online or by phone. 

See Ways to bank for details.

Branch opening

Please be advised that due to current situation the following branches of “HSBC Bank Armenia” CJSC will not operate from 03/04/2020 until 13/04/2020:

  • “Republic square” branch at 9 Vazgen Sargsyan street
  • “Zeytun” branch at 1 Nersisyan street
  • “Nor Nork” branch at 19/10 Gayi avenue.

 

“Dalma” branch at 3 Tsitsernakaberd highway, will still be closed due to “Dalma Garden Mall” closure.

The rest of the Bank offices/branches will operate from Monday to Friday from 09:30 till 17:00:  

  • “Garegin Nzhdeh” at 14 Bagratunyats avenue
  • “STATUS” branch at Baghramyan 4/1 avenue
  • “Komitas” branch at 3 Komitas avenue
  • Main Office at 66 Teryan street.

Credit payment extension

Taking into consideration that due to the current situation "HSBC Bank Armenia" CJSC (hereafter the Bank) retail customers (hereinafter customers) might face problems in meeting their loan obligations as stipulated by their agreements, with the purpose of assisting the customers in overcoming financial difficulties the Bank has made a decision:

a/ not to apply contractual penalties for non-payment of the obligations as per loan repayment schedules for customer credit facilities (for the purpose of this document: moratorium) for the period of March 13- May 31, 2020 inclusive.

b/ not to consider unpaid contractual liabilities as “overdue”, and not to provide the information on overdue payments to CBA Credit Registry and ACRA Credit Bureau (for the purpose of this document moratorium), for customer credit facilities for the period of March 13 - May 31, 2020 inclusive. This point is not applicable to the customers, who had overdue payments for more than 30 days as of 13 March, 2020.

c/ The Bank is ready to provide tailored solutions by providing a credit holiday to financially vulnerable customers by deferring principal and interest payments defined by your loan repayment schedule, as well as by extending the credit facility maturity dates where required.

Taking into account that you might have a lot of questions on the above mentioned, we have selected for you the most important and frequently asked ones.

Under what circumstances can you apply for a credit holiday?  

If due to the current situation you temporarily face financial difficulties, your periodical income has been temporarily reduced or due to objective circumstances you are not able to service your credit facilities with the Bank in a timely and accurate manner, please refer to the Bank and we will review the possibility of authorising a credit holiday with the following options:  

For secured loans

  • Deferring the principal and interest payments defined by your loan repayment schedule for a minimum 3 and maximum 6 months by allocating those payments over the remaining term of your loan; or
  • Deferring only the principal payments defined by your loan repayment schedule for a minimum 3 and maximum 12 months by allocating those payments over the remaining term of your loan. In this case interest payments should be repaid according to your regular loan repayment schedule.  

For unsecured loans

  • Deferring principal and interest payments defined by your loan repayment schedule for 3 months by allocating those maximum over remaining loan term or by proportionately extending loan maturity which, however, should not exceed the credit holiday duration; or
  • Deferring principal payments defined by your loan repayment schedule for a minimum 3 and maximum 6 months by allocating those maximum over loan remaining term or by proportionately extending loan maturity which, however, should not exceed the credit holiday duration. In this case interest payments should be repaid according to your regular loan repayment schedule.

Important: a credit holiday should not be confused with an interest payment suspension, freeze or concession. During the credit holiday all interest payments defined by your loan repayment schedule will be calculated and accrued. 

Under what circumstances will a credit payment extension be considered?

The loan payment moratorium will be effective till 31 May, 2020 and can be considered if in the current situation you don’t expect a significant deterioration of your financial situation but you would prefer to save in order to be able to spend more on current expenses. For example, in case you are not able to visit the Bank, you don’t have the opportunity to use remote banking services or if you expect delays in your regular cashflow.

During the moratorium, loan obligations will not be considered as overdue, penalties defined by your loan agreement will not be applied and the fact of non-payment will not be reflected in Bank reporting to credit registers.  

The Bank’s approach to unsecured and secured loan facilities during the moratorium 

In case you haven’t applied for a credit holiday and have enough money in your loan servicing account on the loan repayment date, the money will be directed to your loan payment via auto debit instruction. In case you intend to use the moratorium option, you need to transfer your money to your other accounts with the Bank or withdraw it in cash. The above mentioned is based on the Bank’s policy not to accrue additional interest for the customers who intend to make payments according to their regular loan repayment schedules. 

The Bank’s approach to credit cards and overdraft facilities during the moratorium term

If the statement generation date of your credit card or overdraft is prior to 30 March 2020, the minimum amount to be paid will be reflected in your statement, which will be due up to the date specified in the statement. After you make the payment and until the moratorium expiry date (i.e. 31 May, 2020), no minimum mandatory payment requirement will apply. In case no payment is made, the due amount will not be increased by 10% of the used amount in the subsequent statements.

If the upcoming statement generation date for your credit card or overdraft is after 30 March 2020, the minimal mandatory amount due requirement will not be reflected in the statement and will not be applied up to 31 May 2020. 

Please be advised that along with the cancellation of the minimum 10% debt repayment requirement, until 31 May 2020, auto debit instructions by the Bank will also be cancelled.  During this period, in order to avoid debt accumulation, as well as in the case of credit card/overdraft usage needs, we encourage you to make payments via our internet and phone banking services,  via interbank transfers, payment terminals or cash-in ATMs and,  in case all the above mentioned is impossibile, by visiting one of our branches.

At the same time, 100% automated debt payment instructions will continue to operate and credit card payments will be done in accordance with the instructions, considering customers' intention to fully repay their debt on a monthly basis. Those customers who want their automated payment instructions to be cancelled should submit respective requests to the Bank.

Please be informed that previously presented and valid other standing instructions will continue to operate in accordance with the respective instructions provided by you.

Important update

  • Starting from June 1 2020, the moratorium will be terminated, which means, that the customer must repay the debt outstanding including accrued interests as of May 31,2020.
  • At the same time, the Bank will restart the accrual of penalties and, in accordance with the established procedure, provision of the data on customer overdue liabilities to the Credit Registry of the CBA and ACRA Credit Bureau.
  • Taking into account the above mentioned, in order to avoid debt accumulation, we encourage you, if possible, to make payments according to your regular loan repayment schedule.  

How to apply for a credit extension

Irrespective of the situation we are working hard to provide the best possible service to you. For more information on moratorium details, to postpone the principal and interest payments prescribed by your loan repayment schedule or to extend the loan maturity date, please contact us via: 

  • Onlne banking service by sending a secure message
  • sending an e-mail to the following address: hsbc.armenia@hsbc.com
  • calling the Contact Centre at the following number +374 (60) 655 000

In case all the above mentioned solutions are not applicable, please visit your local branch.

The Bank will continue to send statements and notifications to its customer as stipulated by legislation and by Bank internal policies throughout the current situation.

Avoid fraud

Please be aware that some criminals are using the coronavirus pandemic as an opportunity to target the public.

Methods used by potential fraudsters may include:

  • Unauthorised texts
  • Phishing emails
  • Malware
  • Calls from individuals to your home or mobile phone

In many cases, these criminals will claim to be contacting you on behalf of your bank, the government, the World Health Organisation or other trusted organisations. 

In order to safeguard yourself from becoming a potential victim of fraud, please observe the following precautions:

  • Do not open mails from sources which you do not know or recognize. Only open attachments or browse links from trusted sources. 
  • Be wary of emails from your trusted sources that appear uncharacteristically strange or unusual. This could be an indication that the sender’s email account has been compromised and being used to send mass phishing emails. Please contact the sender directly through other communication channels, to confirm the legitimate nature of the email.
  • Please do not click on attachments which you may have received through different emails, as these may contain malware to spy on your device.
  • Do not provide your personal credentials such as card numbers, passwords and pins or other bank details to anyone. When entering credentials on any webpage, make sure the connection is secure, usually denoted with a lock next to the URL or with an HTTPS preceding the URL. 

Remember, HSBC Bank employees will never ask you for any PINs, full passwords, CVVs, online banking passwords or transaction codes, and will never request you to move your money to other accounts.

Contact us to discuss your financial situation

We are closely monitoring the situation around the spread of COVID-19 and considering the impacts that this is likely to have on a number of our customers, particularly in certain sectors of the economy.

All customers who feel they would need support are kindly asked to contact us at the following number: +374 60 655 000. Corporate customers are advised to contact their Relationship Manager.