Servicing Current Accounts of Individual Persons

You have money means - salary, money awards and so on, so the Current Account in ACBA-CREDIT AGRICOLE BANK is just for You

 
  •  The opening and closing of the account is being fulfilled on the basis of written application of the natural persons or legal entities.
  • The currency of the account - AMD, USD, EUR, RUR, GBP, CHF.
  • In the case of incoming and outgoing of the money means on the account by the currencies different from the account currency, the cross cost for the exchange, defined by the Bank is being used. 
  • The activities by other currencies, different from the account 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 accounts (regardless of the number of accounts) 

      -If the customer’s daily average balance of the month’s accounts in the Bank doesn’t exceed AMD 50,000 (inclusive) – AMD 200 (monthly)

      - If the customer’s daily average balance of the month’s accounts in the Bank exceeds AMD 50,000 - free of charge

  • This tariff is not applicable to:

       - if the customer has only a student loan and/or only a current AMD account,

       - and/or the customer has only a term deposit,

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

       - on accounts which were opened/reopened and/or are used by the customer to get pension.

       - The following activities is possible to fulfill by the account:

       - enter the money means on opened account,

       - fulfill the transfers from the account,

       - receive money from the account,

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

       - pay for 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 600, 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:

       - the customer is obtaining a student loan

       - if the customer is opening a term deposit

       - if the customer is ordering a plastic card

  • In case of closing the current account, previously accrued servicing fees are not charged.
  • Reopening of current account – AMD 600.
  • 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 5,000 AMD)

       - Residents (citizen, private entrepreneurs) – AMD 10,000 or USD 20 (for the accounts in other currencies commensurate to 10,000 RA drams)

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

  • Annual interest rate accruing against balances of AMD- and USD-denominated current accounts of individual customers 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 income, received for his deposit in the deposit account.
 
  • Any dispute and disagreement sprang up between Customer and Bank is being solved by double-sided mutual collaboration, and in case of not coming to an agreement, it is being solved 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 by 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

      - 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.
 
In ACBA-CREDIT AGRICOLE BANK the reimbursement of bank deposits of natural persons is guaranteed by the "Fund, guaranteeing the reimbursement of the deposits" by the amount subject to the reimbursement. Particularly
  •  in case of only AMD deposits - 4 million AMD
  •  in case of only currency deposit – 2 million AMD
  •  in case of AMD (more than 2 million) and currency deposits – up to 4 million AMD
  •  in case of AMD (less than 2 million) and currency deposits – the AMD deposit – wholly and currency deposit – 2 million AMD and by the amount of difference of reimbursed AMD deposit.

 

 

 

 




The list of necessary documents for the opening the current account in ACBA-CREDIT AGRICOLE BANK