General
Advantages
Special offer
Use the Visa Business card for enterprises. Make payments all over the world and get one of the many benefits for business for only 5,000 drams a year.
1
These tariffs are not applicable to customers of Bank, who meet the following description:
a) Resident legal entity of the Republic of Armenia, in the authorized capital of which a total participation of 50% or more have:
- foreign citizens, and / or
- RA non-resident legal entities, and / or
- A resident legal entity of the Republic of Armenia, in the authorized capital of which foreign citizens or non-resident legal entities of the Republic of Armenia have 50% and more percent participation.
b) A Private Entrepreneur registered in the Republic of Armenia, who is a foreign citizen
Attention: If during the validity of the Client's bank account agreement, the client's description changes and the client meets the above-mentioned description, then the conditions specified in the Information bulletin apply to the Client, from the day the Bank becomes aware of the change.
a) Resident legal entity of the Republic of Armenia, in the authorized capital of which a total participation of 50% or more have:
- foreign citizens, and / or
- RA non-resident legal entities, and / or
- A resident legal entity of the Republic of Armenia, in the authorized capital of which foreign citizens or non-resident legal entities of the Republic of Armenia have 50% and more percent participation.
b) A Private Entrepreneur registered in the Republic of Armenia, who is a foreign citizen
Attention: If during the validity of the Client's bank account agreement, the client's description changes and the client meets the above-mentioned description, then the conditions specified in the Information bulletin apply to the Client, from the day the Bank becomes aware of the change.
BANK ACCOUNT OPENING AND SERVICING
TARIFF-AMD
Important
The tariffs provided for in points 1-7 of this chapter do not apply to card accounts, except for the requirements set forth for Inactive Customer Accounts
1․ Account opening (for each account)
In the territory of the Bank - 3,000
By the online platform IDBusiness.am - Free of charge
By the online platform IDBusiness.am - Free of charge
2․ Account reopening (for each account)
3,000
3․ Monthly account service
Free of charge
4․ Account service through IDBHost*
Free of charge
*IDBHost is a link/channel between the Bank's automated banking system and the Client's accounting system, through which the Client can carry out their banking operations, ensuring automatic data exchange, security and process efficiency.
*IDBHost is a link/channel between the Bank's automated banking system and the Client's accounting system, through which the Client can carry out their banking operations, ensuring automatic data exchange, security and process efficiency.
5․ Annual maintenance of inactive customer accounts (for all the accounts together)*
5,000
*The description of accounts of inactive customers and the procedure for applying the tariff are defined by the Rules for opening and servicing bank accounts.
*The description of accounts of inactive customers and the procedure for applying the tariff are defined by the Rules for opening and servicing bank accounts.
6․ Account closure*
free of charge
*Bank account closure commission fees may be provided by the rules of bank account opening and maintenance depending on the reasons of account closure.
*Bank account closure commission fees may be provided by the rules of bank account opening and maintenance depending on the reasons of account closure.
7․ Non-decreasing account balance
Not specified
Deposit to the account*:For currencies accepted and quoted by the bank in cash/non/cash
According to the link
*If there is a need to study the preconditions and purpose of the transaction in as much detail as possible (Due diligence), tariffs/commissions can be set on a contractual basis.
*If there is a need to study the preconditions and purpose of the transaction in as much detail as possible (Due diligence), tariffs/commissions can be set on a contractual basis.
Cash withdrawal/provision from the account: Within the limits of the amount credited to the client's accounts in cash, non-cash and transit accounts, in AMD or in a foreign currency accepted in cash and quoted
Provision of electronic statements and payment documents generated in remote service systems
free of charge
*
Provision of documents in paper form in RA, outside the territory of the Bank or outside the territory of the RA is carried out in case of availability of the sum of the commission fees set for the provision of the given service and the postal service at these tariffs on the Customer’s account.
Provision of statements (for 1 account): Provision – for statements prescribed by RA legislation (provided at least once every 30 days)
free of charge
Provision of statements (for 1 account): In case of statements provided for a term of up to 1 year inclusive
500
Provision of statements (for 1 account): For statements provided for a term of more than 1 year
1,000
Provision of documents and agreements (for 1 document): For the first time after each transaction including for transactions processed through remote service systems if provided within a 30-day period
Free of charge
Provision of documents and agreements (for 1 document): For documents provided for a term of up to 1 year inclusive, for transactions processed through remote service systems if provided after a 30-day period
2,000
Provision of documents and agreements (for 1 document): For any document provided for a term of more than 1 year for transactions processed through remote service systems
5,000
Provision of references on availability, balance, movement of funds through AMD and/or foreign currency account according to the application: In Armenian
3,000
Provision of references on availability, balance, movement of funds through AMD and/or foreign currency account according to the application: Bilingual (e.g. Armenian – Russian or Armenian – English)
5,000
Provision of references on availability, balance, movement of funds through AMD and/or foreign currency account according to the application: Provision of references on obligations
1,000
Provision of a reference on account availability/unavailability, its balance, the Bank's obligations towards the individual entrepreneur, the latter's obligations towards the Bank in electronic or paper form once per calendar year for the period specified in the application*
5,000
*The reference is provided to the individual entrepreneur, whether or not a client of the Bank at the time of filing the application, via the email address provided by him or her or via another electronic communication platform of the Bank within five working days from the date of receipt of the application.
*The reference is provided to the individual entrepreneur, whether or not a client of the Bank at the time of filing the application, via the email address provided by him or her or via another electronic communication platform of the Bank within five working days from the date of receipt of the application.
Provision of other references
5,000
Preparation of responses to audit inquiries
10,000
Annual interest rate for current bank accounts
0% (annual percentage yield equals to 0%*)
*Attention – Interest against funds available on the client’s account is calculated based on the nominal interest rate. And the annual percentage yield indicates the income to be received by the client as a result of making mandatory deposit payments and receiving the earned interest amounts at defined intervals. The order of calculation of annual percentage yield can be found at the following link Annual percentage yield calculation.
*Attention – Interest against funds available on the client’s account is calculated based on the nominal interest rate. And the annual percentage yield indicates the income to be received by the client as a result of making mandatory deposit payments and receiving the earned interest amounts at defined intervals. The order of calculation of annual percentage yield can be found at the following link Annual percentage yield calculation.
Provision of power of attorney by the Bank
5,000
*
According to the bulletins available in the Bank, the Bank can independently, without the prior consent of the customer, choose the path of transfer of funds /to the intermediary bank/ in the event that the complete path of transfer /intermediary bank/ is not indicated in the payment order submitted by the customer. In the case of transfers in Russian rubles and some other currencies, the transfer order must contain the coding required by the legislation of the country in question (if any).
The Bank may suspend or refuse the transfer in case of failure to submit sufficient necessary information/documents related to the transaction, based on the requirements of the correspondent banks, in the cases defined by RA legislation or internal legal acts of the Bank.
The tariffs for the services mentioned in sections 11-16 include the commission fees of the Bank's correspondent banks. The costs of third banks, if any, are charged additionally to the customer in the amount paid by the Bank.
In case of insufficient results of the execution of the order due to reasons beyond the bank's control, the amount of the paid commission is not subject to return.
The Bank may suspend or refuse the transfer in case of failure to submit sufficient necessary information/documents related to the transaction, based on the requirements of the correspondent banks, in the cases defined by RA legislation or internal legal acts of the Bank.
The tariffs for the services mentioned in sections 11-16 include the commission fees of the Bank's correspondent banks. The costs of third banks, if any, are charged additionally to the customer in the amount paid by the Bank.
In case of insufficient results of the execution of the order due to reasons beyond the bank's control, the amount of the paid commission is not subject to return.
1․ Transfers on the RA territory: Transfers (through IDBank system) between the clients of “ID Bank” CJSC in AMD and other currency
Free of charge
2․ Transfers on the RA territory: Transfers in AMD to other Banks of RA and RA state budget:In case of submitting the payment order to the Bank
500
3․ Transfers on the RA territory: Transfers in AMD to other Banks of RA and RA state budget :In case of submitting the payment order through remote service systems
Free of charge
4․ Transfers on the RA territory: Urgent transfers in AMD to other banks and RA state budget*
0.1%,Minimum 1000, maximum 10,000
*Urgent transfers are made at the times and in the order set by the Rules.
*Urgent transfers are made at the times and in the order set by the Rules.
5․ Transfers on the RA territory: Transfers to other banks of RA in USD and Euro: In case of submitting the payment order to the Bank
0.12%, minimum 2,000,
maximum 20,000
maximum 20,000
6․ Transfers on the RA territory: Transfers to other banks of RA in USD and Euro: In case of submitting the payment order through remote service systems
0.1%, minimum 2,000,
maximum 20,000
maximum 20,000
7․ Transfers in foreign currency: Transfers in USD, Euro: OUR option*: The transaction costs are borne by the client making the transfer: In case of submitting the payment order to the Bank
0.2%,
Minimum 10,000,
maximum 75,000
*Transfers made to other banks of RA through foreign intermediary banks and transfers in other currency are made according to the points 1-16
Minimum 10,000,
maximum 75,000
*Transfers made to other banks of RA through foreign intermediary banks and transfers in other currency are made according to the points 1-16
8․ Transfers in foreign currency: Transfers in USD, Euro: OUR option: The transaction costs are borne by the client making the transfer: In case of submitting the payment order through remote service systems
0.18%,
Minimum 10,000,
maximum 75,000
Minimum 10,000,
maximum 75,000
9․ Transfers in foreign currency, Transfers in USD, Euro: Guaranteed OUR option: In case of selecting this variant, the beneficiary will receive the whole amount
a. 15,000 is charged in addition to clause 7-8 for USD
b. In case of submitting the payment order to the Bank: 13.000 for up to 12.500 EUR inclusive
c. In case of submitting the payment order through remote service systems: 11.000 for up to 12.500 EUR inclusive
In case of exceeding EUR 12.500
In case of submitting the payment order to the Bank: 0.2%,minimum 15,000, maximum 75,000
In case of submitting the payment order through remote service systems: 0.18%,minimum 15,000, maximum 75,000
b. In case of submitting the payment order to the Bank: 13.000 for up to 12.500 EUR inclusive
c. In case of submitting the payment order through remote service systems: 11.000 for up to 12.500 EUR inclusive
In case of exceeding EUR 12.500
In case of submitting the payment order to the Bank: 0.2%,minimum 15,000, maximum 75,000
In case of submitting the payment order through remote service systems: 0.18%,minimum 15,000, maximum 75,000
10․ Transfers in foreign currency, Transfers in USD, Euro: BEN/SHA option: Transaction costs of third banks are charged from the money transferred
In case of submitting the payment order to the Bank-6,000
In case of submitting the payment order through remote service systems-5,000
In case of submitting the payment order through remote service systems-5,000
11․ Transfers in foreign currency, Transfers in Rubles, Lari: Performed only with OUR option, moreover, the beneficiary will receive the whole amount
In case of submitting the payment order to the Bank-0.05%, minimum 3,000, maximum 20,000
In case of submitting the payment order through remote service systems-0.04%, minimum 3,000, maximum 20,000
In case of submitting the payment order through remote service systems-0.04%, minimum 3,000, maximum 20,000
12․ Transfers in foreign currency, Transfers in other currencies acceptable for the Bank: OUR option: The transaction costs are borne by the client making the transfer
In case of submitting the payment order to the Bank-0.2%, minimum 15,000, maximum 80,000
In case of submitting the payment order through remote service systems-0.18%, minimum 15,000, maximum 80,000
In case of submitting the payment order through remote service systems-0.18%, minimum 15,000, maximum 80,000
13․ Execution of the order on recalling the payment order or changing payment requisites according to the client’s application, making inquiries In AMD
1,000
14․ Execution of the order on recalling the payment order or changing payment requisites according to the client’s application, making inquiries In Rubles, lari
10,000
15․ Execution of the order on recalling the payment order or changing payment requisites accordingo the client’s application, making inquiries(In other currency): In case of up to 1-year old payment orders
30,000
16. Execution of the order on recalling the payment order or changing payment requisites according to the client’s application, making inquiries(In other currency): In case of payment orders more than 1 year old
125,000
Return of transfer by the correspondent bank as a result of submission of incomplete or incorrect details by the client: In AMD
1,000
Return of transfer by the correspondent bank as a result of submission of incomplete or incorrect details by the client: In Rubles, Lari
10,000
Return of transfer by the correspondent bank as a result of submission of incomplete or incorrect details by the client: In other currency
20,000
Provision of copies of SWIFT messages
3,000
Return of unclear amounts received in foreign currency according to internal acts or at the request of the transferring bank: In rubles
1,000
Return of unclear amounts received in foreign currency according to internal acts or at the request of the transferring bank In other currency*: Up to 500 USD or equivalent in other currency
5,000
*Charged from the refund amount in the equivalent currency.
*Charged from the refund amount in the equivalent currency.
Return of unclear amounts received in foreign currency according to internal acts or at the request of the transferring bank In other currency: 500 USD and over or equivalent in other currency
15,000
CASH AND FOREIGN CURRENCY OPERATIONS
TARIFF-AMD
Purchase and sale, exchange of foreign currency in cash: In case of banknotes fit for circulation
According to the exchange rate set by the Bank for cash quoted currencies as of the given day
Purchase and sale, exchange of foreign currency in cash: In case of worn-out USD, EUR, RUB banknotes
3%
Cash foreign currency calculation, authentication, exchange with another banknote of nominal value: In case of up to 300 USD or 300 EUR or 20,000 RUB inclusive or another 300 USD equivalent foreign currency cash quoted by the Bank
free of charge
Cash foreign currency calculation, authentication, exchange with another banknote of nominal value: In case of foreign currency over 300 USD or 300 EUR or 20,000 RUB or another equivalent foreign currency over 300 USD cash quoted by the Bank
0.1%,
minimum 1,000,
maximum 100,000
minimum 1,000,
maximum 100,000
Provision of cash funds through the Bank’s POS-terminals with cards issued outside the RA territory
5%
DOCUMENTARY COLLECTION
TARIFF-AMD
*
Commission fees of the third parties and postage and communication costs are charged additionally to the customer according to their actual amount
Export collection: Issuance of collection order, acceptance and sending of documents
0.2%, minimum 50,000
Export collection: Change or cancelation of collection terms and conditions
25,000
Import collection: Notification of collection order and each change
25,000
Import collection: Maintenance/acceptance of collection order
0.1%,
minimum 6,000,
maximum 45,000
minimum 6,000,
maximum 45,000
Import collection: Provision of documents to the client
Free of charge
Import collection: Return of documents submitted for collection but not paid by the client
50,000
CONVERSION OPERATIONS
TARIFF-AMD
Intrabank conversions
According to the agreement or the Bank's exchange rate
REMOTE SERVICING
TARIFF-AMD
Connection to the IDBusiness/Bank- Client system
free of charge
Provision of authority to make transactions
free of charge
Provision of authority to view information about transactions, including transaction-related actions
free of charge
Connection to the IDBusiness.am online platform
free of charge
Provision of authority to make transactions
Free of charge
Provision of authority to view information about transactions, including transaction-related actions
Free of charge
Downloading IDBusiness Mobile application
free of charge
Provision of authority to make transactions
free of charge
Provision of authority to view information about transactions, including transaction-related actions
free of charge
DEPOSIT BOX RENTAL AND OTHER SERVICES
TARIFF-AMD
Deposit box rental
Functions performed by the state authorities
OPERATIONS RELATED TO LOANS/COLLATERALS
TARIFF-AMD
*
The tariffs defined in this section do not apply to customers who are considered as problematic customers according to the Bank’s internal legal acts.
Provision of permission for registration of a physical entity at the address of the pledged real estate property (irrespective of the number of entities to be registered)
3,000 per case
Provision of permission to make changes in the ownership certificate of the pledged property except for changes resulting from recognition of inheritance
10,000
Provision of permission to rent the pledged real estate or moveable property
10,000
Provision of permission to change the registration number of the pledged vehicle
5,000
Provision of permission to partially release the pledged property or change the pledged property (in case of physical entity clients, except for gold pledged loan borrowers)
10,000
Provision of permission to partially release the pledged property or change the pledged property (in case of legal entity, PE clients), except for loans pledged by gold, cash and bonds issued by the Bank as well as cases, when the subject of pledge is replaced by:
30,000 for change of each pledge agreement
Pledge of gold items or standardized gold bars
free of charge
Pledge of funds
free of charge
Pledge of bonds issued by the Bank
free of charge
Provision of statements on pledged property
10,000 in case of real estate property. 5,000 in case of moveable property
Revision of loan conditions
1% of the balance but not less than 20,000 AMD and not more than 150,000 AMD
1
These tariffs are not applicable to customers of Bank, who meet the following description:
a) Resident legal entity of the Republic of Armenia, in the authorized capital of which a total participation of 50% or more have:
- foreign citizens, and / or
- RA non-resident legal entities, and / or
- A resident legal entity of the Republic of Armenia, in the authorized capital of which foreign citizens or non-resident legal entities of the Republic of Armenia have 50% and more percent participation.
b) A Private Entrepreneur registered in the Republic of Armenia, who is a foreign citizen
Attention: If during the validity of the Client's bank account agreement, the client's description changes and the client meets the above-mentioned description, then the conditions specified in the Information bulletin apply to the Client, from the day the Bank becomes aware of the change.
a) Resident legal entity of the Republic of Armenia, in the authorized capital of which a total participation of 50% or more have:
- foreign citizens, and / or
- RA non-resident legal entities, and / or
- A resident legal entity of the Republic of Armenia, in the authorized capital of which foreign citizens or non-resident legal entities of the Republic of Armenia have 50% and more percent participation.
b) A Private Entrepreneur registered in the Republic of Armenia, who is a foreign citizen
Attention: If during the validity of the Client's bank account agreement, the client's description changes and the client meets the above-mentioned description, then the conditions specified in the Information bulletin apply to the Client, from the day the Bank becomes aware of the change.
BANK ACCOUNT OPENING AND MAINTENANCE
TARIFF-AMD
Account opening/ reopening(for each account)
20,000
Important
The tariffs provided in paragraphs 1-4 do not apply to card accounts, except for the requirements set forth for Inactive Customer Accounts.
1․ Account opening/ reopening (for each account)
20,000*
*The fee is charged on the day of account opening/reopening.
*The fee is charged on the day of account opening/reopening.
2․ Account maintenance (for all the accounts together)
100,000 annually*
*The first-year service fee is charged on the day of account opening/reopening if there is no active bank account with the Bank.
*The first-year service fee is charged on the day of account opening/reopening if there is no active bank account with the Bank.
3․ Account service through IDBHost*
Free of charge
*IDBHost is a link/channel between the Bank's automated banking system and the Client's accounting system, through which the Client can carry out their banking operations, ensuring automatic data exchange, security and process efficiency.
*IDBHost is a link/channel between the Bank's automated banking system and the Client's accounting system, through which the Client can carry out their banking operations, ensuring automatic data exchange, security and process efficiency.
4․ Annual maintenance of inactive customer accounts (for all the accounts together)
5000
*
The description of accounts of inactive customers and the procedure for applying the tariff are defined by the Rules for opening and servicing bank accounts.
Cash deposit to the account*:For currencies accepted and quoted by the bank in cash/non-cash
According to the link
*If there is a need to study the preconditions and purpose of the transaction in as much detail as possible (Due diligence), tariffs/commissions can be set on a contractual basis.
*If there is a need to study the preconditions and purpose of the transaction in as much detail as possible (Due diligence), tariffs/commissions can be set on a contractual basis.
Cash withdrawal/provision from the account: Within the limits of the amount credited to the client's accounts in cash, non-cash and transit accounts, in AMD or in a foreign currency accepted in cash and quoted
According to the link
Provision of statements and payment documents formed in the remote service systems
free of charge
Provision of statements (for 1 account)*: First time provision – for statements prescribed by RA legislation (provided at least once every 30 days)
free of charge
*Provision of documents and contracts in paper form in the Republic of Armenia, outside the Bank's territory or outside the territory of the Republic of Armenia is carried out in case of availability of the sum of the postal services and the commission fees defined for the given service in these tariffs on the Client’s accounts
*Provision of documents and contracts in paper form in the Republic of Armenia, outside the Bank's territory or outside the territory of the Republic of Armenia is carried out in case of availability of the sum of the postal services and the commission fees defined for the given service in these tariffs on the Client’s accounts
Provision of statements (for 1 account): In case of statements provided for a term of up to 1 year inclusive
5,000
Provision of statements (for 1 account): For statements provided for a term of more than 1 year
10,000
Provision of documents and agreements (per 1 document): For the first time after each transaction including for transactions processed through remote service systems if provided within a 30-day period
free of charge
Provision of documents and agreements (per 1 document): For documents provided for a term of up to 1 year including for transactions processed through remote service systems if provided after a 30-day period
5,000
Provision of documents and agreements (per 1 document): For any document provided for a term of more than 1 year including for transactions processed through remote service systems
10,000
TRANSFERS WITHIN AND OUTSIDE THE RA TERRITORY
TARIFF-AMD
*
According to the bulletins available in the Bank, the Bank can independently, without the prior consent of the customer, choose the method of transfer of funds /to the intermediary bank/ in the event that the complete method of transfer /intermediary bank/ is not indicated in the payment order submitted by the customer. In the case of transfers in Russian rubles and some other currencies, the transfer order must contain the coding required by the legislation of the country in question (if any).
The Bank may suspend or refuse the transfer in case of failure to submit sufficient necessary information/documents related to the transaction, based on the requirements of the correspondent banks, in the cases defined by RA legislation or internal legal acts of the Bank.
The tariffs for the services mentioned in section 10 include the commission fees of the Bank's correspondent banks. The costs of third banks, if any, are charged additionally to the customer in the amount paid by the Bank.
In case of insufficient results of the execution of the order due to reasons beyond the bank's control, the amount of the paid commission is not subject to return.
The Bank may suspend or refuse the transfer in case of failure to submit sufficient necessary information/documents related to the transaction, based on the requirements of the correspondent banks, in the cases defined by RA legislation or internal legal acts of the Bank.
The tariffs for the services mentioned in section 10 include the commission fees of the Bank's correspondent banks. The costs of third banks, if any, are charged additionally to the customer in the amount paid by the Bank.
In case of insufficient results of the execution of the order due to reasons beyond the bank's control, the amount of the paid commission is not subject to return.
1․ Transfers within the RA territory: Transfers (through IDBank system) between the clients of “ID Bank” CJSC in AMD and other currency
Free of charge
2․ Transfers within the RA territory: Transfers in AMD to other Banks of RA and RA state budget:In case of submitting the payment order to the Bank
500
3․ Transfers within the RA territory: AMD transfers to other RA banks and the state budget of RA:In case of submitting the payment order through remote service systems
Free of charge
4․ Transfers within the RA territory: Urgent transfers in AMD to other banks and the state budget of RA*
10,000
*Urgent transfers are made at the times and in the order set by the Rules.
*Urgent transfers are made at the times and in the order set by the Rules.
5․ Transfers within the RA territory: Transfers to other RA banks in USD and Euro*
0.3%, minimum 30,000
*Transfers made to other RA banks through foreign intermediary banks and transfers in other currency are made according to the paragraphs 6-10
*Transfers made to other RA banks through foreign intermediary banks and transfers in other currency are made according to the paragraphs 6-10
6․ Transfers in foreign currency: Transfers in USD, Euro: OUR option: The transaction costs are borne by the client making the transfer: In case of submission of the payment order in paper form and through remote service systems
0.3%, minimum 30,000
7․ Transfers in foreign currency: Guaranteed OUR option: (only in USD): In case of selecting this option, the beneficiary will receive the whole amount: in addition to paragraph 6 the following charges apply:
30,000
8․ Transfers in foreign currency, Transfers in USD, Euro: BEN/SHA option: Payment instruction related costs of third banks are charged from the money being transferred: In case of submission of the payment order in paper form and through remote service systems.
30,000
9․ Transfers in foreign currency, Transfers in Rubles, Lari: Performed only with OUR option, moreover, the beneficiary will receive the whole amount: In case of submission of the payment order in paper form and through remote service systems.
0.3%, minimum 30,000
10․ Transfers in foreign currency, Transfers in other currencies acceptable for the Bank: Performed only with OUR option: The payment instruction related costs are borne by the client making the transfer: In case of submission of the payment order in paper form and through remote service systems.
0.3%, minimum 30,000
1
Disputes arising between the parties may be resolved through the courts or through the Financial System Mediator (in accordance with the procedure established by the RA Law on the Financial System Mediator), address: 15 M. Khorenatsi Street, Elite Plaza Business Center, 7th Floor, Yerevan 0010, Republic of Armenia, e-mail: [email protected], telephone: (+37460) 70-11-11, fax: (+37410) 58 24 21. Furthermore, if the amount of the property claim does not exceed AMD 250,000 (two hundred fifty thousand) or its equivalent in foreign currency, the decisions of the Financial System Mediator may not be challenged by the Bank.
2
The Bank may, for the purposes of customer due diligence as required by the RA Law on Combating Money Laundering and Terrorist Financing, request additional documents or information based on the “Know Your Customer” (KYC) principle.
3
Pursuant to the agreement concluded with the United States under the Foreign Account Tax Compliance Act (FATCA), the Bank may collect additional information to determine whether the customer is a U.S. taxpayer, as well as to provide the State Revenue Committee of the Republic of Armenia with information on customers who are foreign tax residents in accordance with the Common Reporting Standard (CRS) of the Organisation for Economic Co-operation and Development (OECD), as prescribed by the RA Tax Code.
4
The list of the Bank’s branches and ATMs, as well as their addresses and business hours, is available at the following link: Branches and ATMs.։
5
Attention: Interest on the funds available in the Customer's account is calculated based on the nominal interest rate. The Annual Percentage Yield (APY), on the other hand, indicates the total income the Customer will earn after paying all mandatory fees related to the funds and receiving the accrued interest at the prescribed intervals. The methodology for calculating the APY is available at the following link: Annual Percentage Yield (APY) Calculation
6
The account is opened for an indefinite term.
If the Customer submits a request to close the bank account, it will be closed within 1 (one) banking day. The funds available in the account will be returned to the Customer on the same banking day using the method chosen by the Customer.
If the Customer submits a request to close the bank account, it will be closed within 1 (one) banking day. The funds available in the account will be returned to the Customer on the same banking day using the method chosen by the Customer.
7
For transactions carried out in a currency different from the account currency, the exchange rates set by the Bank for the respective transaction shall apply.
8
For information on the procedure and terms for crediting/debiting funds to and from the account, please see here
9
If the balance of an inactive account is less than the applicable fee (or its equivalent in foreign currency), the entire remaining balance will be charged as the fee, after which the Bank may close the account. The charged fee is non-refundable.
10
The account holder's rights to manage the account and the funds therein may be restricted by a court decision, based on a request submitted by the bodies responsible for the compulsory enforcement of judicial acts or by the tax authorities.
Funds may be seized from the account without the account holder's instruction pursuant to a court decision, based on a request submitted by the bodies responsible for the compulsory enforcement of judicial acts or by the tax authorities. The procedure for notifying the account holder thereof is as follows:
Funds may be seized from the account without the account holder's instruction pursuant to a court decision, based on a request submitted by the bodies responsible for the compulsory enforcement of judicial acts or by the tax authorities. The procedure for notifying the account holder thereof is as follows:
11
The repayment of funds held in the account is guaranteed in accordance with the Law of the Republic of Armenia "On Guaranteeing the Compensation of Bank Deposits of Individuals."
Deposits of individuals placed with IDBank CJSC are guaranteed by the Deposit Guarantee Fund within the compensation limits established by law, as follows:
Deposit currency structure/Maximum guaranteed compensation amount
If you have only an AMD-denominated deposit with the same bank: AMD 16 million
If you have only a foreign currency deposit with the same bank: AMD 7 million
If you have both AMD- and foreign currency-denominated deposits with the same bank:
If the AMD deposit exceeds AMD 7 million: AMD 16 million (only the AMD deposit is guaranteed)
If the AMD deposit is less than AMD 7 million: AMD 7 million (the AMD deposit is guaranteed in full, and the foreign currency deposit is guaranteed up to the difference between AMD 7 million and the amount of the guaranteed AMD deposit)
Deposits of individuals placed with IDBank CJSC are guaranteed by the Deposit Guarantee Fund within the compensation limits established by law, as follows:
Deposit currency structure/Maximum guaranteed compensation amount
If you have only an AMD-denominated deposit with the same bank: AMD 16 million
If you have only a foreign currency deposit with the same bank: AMD 7 million
If you have both AMD- and foreign currency-denominated deposits with the same bank:
If the AMD deposit exceeds AMD 7 million: AMD 16 million (only the AMD deposit is guaranteed)
If the AMD deposit is less than AMD 7 million: AMD 7 million (the AMD deposit is guaranteed in full, and the foreign currency deposit is guaranteed up to the difference between AMD 7 million and the amount of the guaranteed AMD deposit)
Information bulletin of tariffs for residents of republic of armenia for bank accounts, transfers and other services provided by “IDBank” CJSC to legal entities and private entrepreneurs CRS (Common Reporting Standard) is a unified standard developed by the Organisation for Economic Co-operation and Development (OECD) for reporting, due diligence, and exchanging information about financial accounts between tax authorities of different countries. It has been implemented in various countries as an agreement for international exchange of tax information.
CRS (Common Reporting Standard) is a global standard for automatic exchange of financial account information designed to reduce the risk of tax evasion globally. Under CRS, banks are required to transmit information through the Armenian tax authority about customers who are tax residents of other countries to the tax authorities of those countries that have joined the CRS system.
Currently, more than 120 countries have joined CRS, including:
- Almost all European countries (all EU countries),
- Many Asian countries (e.g., China, India, Japan),
- Several African countries (e.g., South Africa),
- Certain countries of the American continent (e.g., Canada, Brazil).
The United States (USA) has not joined CRS but instead has its separate regulation under the Foreign Account Tax Compliance Act (FATCA) for US taxpayers.
Armenia joined the system recently, and the data exchange will occur for the first time in 2025, for the 2024 reporting period. However, the number of CRS-participating countries is continuously increasing, and the final list can be found on the OECD's official website:
https://www.oecd.org/content/dam/oecd/en/topics/policy-issues/tax-transparency-and-international-co-operation/crs-mcaa-signatories.pdf
Reporting persons are:
1. Individuals/individual entrepreneurs who are tax residents of a CRS-participating country,
2. Legal entities (hereinafter referred to as Organizations) that, or whose controlling person(s) are tax residents of a CRS-participating country.
1. Individuals/individual entrepreneurs who are tax residents of a CRS-participating country,
2. Legal entities (hereinafter referred to as Organizations) that, or whose controlling person(s) are tax residents of a CRS-participating country.
Following amendments to the Armenian Tax Code, the Bank is now obligated to submit financial account information of account holders who are tax residents of a foreign country (territory) to the Armenian tax authority. This means that if you are a customer of the Bank and also a tax resident of a foreign country (territory), your data must be provided by the Bank to the Armenian tax authority.
Following amendments to the Armenian Tax Code, the Bank is obligated to provide financial account information of account holders who are tax residents of a foreign country (territory) to the Armenian tax authority. This means that if an Organization is a customer of the Bank and at the same time a tax resident of a foreign country (territory), or if the controlling person of a passive non-financial Organization is a tax resident of a foreign country (territory), the Organization’s data must be provided by the Bank to the Armenian tax authority.
Non-financial Organizations are considered passive if more than 50% of their gross income for the previous calendar year or other reporting period consists of passive income (e.g., dividends, interest, royalties, rental income, capital gains, annuities, and similar types of income).
Controlling persons are individuals who exercise control over the Organization. Specifically, they include individuals who directly or indirectly own 20% or more of the voting shares (stocks, stakes) or have 20% or more participation in the statutory capital, or otherwise exercise actual (effective) control over the Organization. If no individual meets these criteria, the controlling person is considered to be the official responsible for the overall or ongoing management of the Organization.
Criteria for determining foreign tax residency of an individual or controlling person of an Organization may differ by country. The main indicative criteria generally include:
For individuals:
1. Having a postal or actual residence address in a CRS member country,
2. The center of vital interests (workplace, family, property) is located in a CRS member country,
3. Country where the individual has tax registration or Tax Identification Number (TIN).
For Organizations:
1. The Organization’s registered address or actual place of business is in a CRS member country.
For individuals:
1. Having a postal or actual residence address in a CRS member country,
2. The center of vital interests (workplace, family, property) is located in a CRS member country,
3. Country where the individual has tax registration or Tax Identification Number (TIN).
For Organizations:
1. The Organization’s registered address or actual place of business is in a CRS member country.
Determination of tax residency can vary by country; however, clients themselves declare their tax residency status.
The following information about each reportable person who is a tax resident of a foreign country (territory) will be transmitted to tax authorities:
1. Identification details,
2. Information about accounts and certain transactions performed on those accounts.
1. Identification details,
2. Information about accounts and certain transactions performed on those accounts.
The Bank will provide information about customers who have:
- New accounts opened after January 1, 2024 (regardless of the balance),
- Existing accounts that meet one of the following criteria:
- Account balance exceeds USD 250,000 (or equivalent in AMD/other currency) as of the beginning or end of 2023, or
- Total account inflows exceed USD 250,000 (or equivalent in AMD/other currency), or
- Total account outflows exceed USD 250,000 (or equivalent in AMD/other currency).
Under Armenian tax legislation, the Bank is obligated to provide information about a client's financial accounts if they meet CRS standard criteria. If a client refuses to provide required information upon account opening, the Bank has the right to refuse opening the account. For existing accounts, refusing to provide information may result in limitations or termination of account services by the Bank.
If a customer refuses to provide the required consent within 10 days after receiving the request from the Bank, the Bank may refuse to open new financial accounts and may limit or terminate operations on previously opened accounts.
A self-certification is a document through which customers declare their tax residency. Customers submit this document to establish their tax residency status. Self-certification must contain at least the following information:
- Customer identification data,
- Country or countries of tax residency (if the individual has dual tax residency),
- Tax Identification Number (TIN) in the country or countries where the customer is registered as a tax resident.
The Bank has all the necessary information security systems in place, thus keeping money on the account is secure. It is only necessary that the client also follows the security rules. In the meantime we hereby inform that the return of the funds available on the account in the amount of up to AMD 16 mln and amount in USD equivalent to AMD 7 mln is guaranteed in accordance with the RA law on "On Guarantee of Compensation for the Banking Deposits of Physical Entities".
The current account is opened for an indefinite term. Moreover, the account can be opened through the IDBanking.am online platform, Idram&IDBank mobile application and in the branches of the Bank for absolutely no charge.
The Bank opens and maintains current accounts in AMD, USD, EUR, RUB, British pound, Japanese yen, Swiss franc, Georgian lari, UAE dirham, Chinese yuan, Belarusian ruble.
Both resident and non-resident entities can open current accounts.
No nondecreasing balance is applied to current accounts.
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