Servicing Current Accounts of Legal Entities

You have money inflows, it means that the current account of 
ACBA -CREDIT AGRICOLE BANK is just for You

  • The opening and closing of account is being fulfilled on the basis of written application of natural persons or legal entities.
  • The account’s currency - AMD,USD, EUR, RUR, GBP, CHFT
  • In the case of incoming and outgoing of money means in the account by the currency, which differs from the account’s currency, the cross cost, defined by Bank are being used for the exchange.
  • The activities by the currency, different from the account’s currency are not being fulfilled 
  • Opening of account- free of charge
  • The customer can enter and take the money means from the account each banking day at 9:30-16:30
  • Service of account (regardless of the number of accounts) – for legal entities or for economic players not having a status of a legal entity (private entrepreneurs) 

       - If the legal entity’s or economic player’s, not having the status of a legal entity (private entrepreneur) daily average balance of the month’s accounts in the Bank doesn’t exceed AMD 50,000 (inclusive) - AMD 1,000 monthly

       - If the legal entity’s or economic player’s, not having the status of a legal entity (private entrepreneur) daily average balance of the month’s accounts in the Bank is AMD 50,001-100,000 (inclusive) - AMD 500 monthly

       - If the legal entity’s or economic player’s, not having the status of a legal entity (private entrepreneur) daily average balance of the month’s accounts in the Bank exceeds AMD 100,000 - free of charge

  • This tariff is not applicable to :

       -if the customer has only a term deposit

       - and/or the customer has only an active plastic card and/or only a current AMD account

       - for current accounts of trade and service outlets who are counterparties of agreements on the

       - servicing of POS terminals and ATM’s

       - for current accounts of state and local government bodies and entities established by such bodies.

  • By account it is possible to fulfill the following activities:

       - enter money means on the opened account,

       - fulfill the transfers from the account,

       - receive the money from the account, 

       - fulfill the exchange of the balance of current account to currency,

       - pay the loans from the current account,

  • The commission of account service is charged from the customer’s account on the last banking day of each month.
  • The commission is charged from customer’s AMD account. In the case of not having the AMD account it is being charged from the customer’s currency account, and the exchange of currency is being fulfilled by the average exchange of currency for this day, announced by the Central Bank of RA. The calculation is being fulfilled wholly for the months of accounts opening and closing.
  • The current account’s agreement is being signed not for fixed time.
  • In the case of the current account’s negative balance becoming AMD 3,000 (three thousand), this account is being automatically blocked, with no further servicing fees accrued.
  •  In case of un-blocking accounts, debentures previously accrued against account servicing fees are forfeited if:

       - if the customer is opening a term deposit

       - if the customer is ordering a plastic card

       - if the customer is signing a cooperation agreement on servicing POS terminals and ATM’s.

  • In case of closing the current account, previously accrued servicing fees are not charged.
  • Reopening of current account – AMD 3,000
  • Issue of account statements (including a copy thereof) - free of charge
  • Issuing copies of documents:

       - for up to three-month limitation period - AMD 1,000 (including VAT)

       - for 3 to 12 months limitation period - AMD 2,000 (including VAT)

       - for 1 to 3 years limitation period - AMD 5,000 (including VAT)

       - for limitation period of 3 years and more - AMD 10,000 (including VAT)

  • Providing information:

       - response to audit enquiry - AMD 5,000 (including VAT)

       - providing other references - AMD 3,000 (including VAT)

  • The minimal balance of the account1

       - For the members of ACRU – AMD 5,000 or USD 10 (for the accounts in other currencies commensurate to AMD 5,000) 

       - residents (citizens, private entrepreneurs) – AMD 10,000 or USD 20 (for the accounts in other currencies commensurate to AMD 10,000) 

       - residents (legal entities) – AMD 50,000 or USD 100 (for the accounts in other currencies commensurate to AMD 50,000)

       - non-residents – AMD 50,000 or USD 100 (for accounts in other currencies commensurate to AMD 50,000)

  • The annual simple interest rate for AMD current account balance:

       - If the daily average balance of all accounts of the customer in the Bank does not exceed AMD 20,000,000 (inclusive) for the given month – 0%

       - If the daily average balance of all accounts of the customer in the Bank does not exceed AMD 20,000,000 for the given month - 1%

  • Annual interest rate accruing against balances of foreign currency denominated current accounts of corporate customers (legal entities and sole proprietors) – 0%
  • The annual simple interest rate and annual interest profitability2 of current account’s balance coincide.
  • The interest income is being calculated monthly, towards the average daily balance of the account.
  • The interest incomes of the means, available in the customers account are being calculated on the basis of nominal interest rate. And the annual interest profitability shows how much the customer’s income will be, if he puts once more the interest incomes, received for his deposit in the deposit account.
The order of calculating the annual interest profitability
  • Any dispute and disagreement, spread out between Customer and Bank is being solved by double sided mutual collaboration, and in case of not coming to an agreement, by Court method, defined by RA Legislation, as well as with the help of Financial System Mediator (in the case of natural persons).
  • The Bank has the right to change the amount of interest income paid for call deposits, as well as monetary resources available in the bank accounts, if there is no other contradictory stipulation in the Agreement.
  • ACBA-CREDIT AGRICOLE BANK provides the secrecy of the information that became known to him due to the services, given to the customer.
  • The interest income, received during the duration of Current account’s agreement, is taxable by 10%, in compliance with the RA Legislation in force.
  • Bank has not determined any tarriffs or other conditions decreasing the annual interest profitability for the current account.
  • The customers have the possibility of managing their accounts, fulfill payment deals by the Internet – the system “ACBA On-Line”
  • The rights of the owner of the account to manage the account and the money means, available in them can be restricted under judgement on the ground of bailiff or rating authority declaration.
  • The money exaction from an account without order of account holder can be fulfilled under judgement on the ground of bailiff or rating authority declaration.
  • The account agreement can be cancelled at any time by the application of the customer 
  • The Court by the Bank demand can cancel the account agreement in the following cases:

       - if the amount of money means, kept in customer’s account is less than the minimal amount, foreseen by bank regulation or agreement, if the amount of money has not been restored in a month after informing about it the Bank.

       - in the case of not fulfilling the deals by this account during one year.

  • The Bank has the right of ceasing or cancelling the action of account agreement without informing about it the customer, if

       - it became known to Bank, that natural person customer is not alive or has been recognized unemployed by the rules, defined by the Law, or legal entity customer has been liquidated or has been recognized as insolvent, or

       - the Bank has doubts, that the customer fulfills the turnover of the means in the Bank, received by criminal way, or

       - if the customer has not fulfilled the deals by the account during a year from the day of opening the account, or

       - In other cases, foreseen by the Law or by the agreement, signed between the Bank and the customer.

  • According to this point, in the case of ceasing the action of the account agreement, the Bank ceases the service of the customer’s account, till the conditions, that are the reason of ceasing disappear, and in the case of cancelling the account agreement - the Bank closes the customer’s account. 
  • The balance of money means, available in the account is being given to the customer or by his order is being transferred to the other account, not later than in seven days after receiving the corresponding written order of the customer.
 
1. The annual interest profitability, in the result of using annual simple interest rate and capitalization of percents and frequency of payment during 365 days period of time for AMD 1,000.