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 are held from the account from which the transaction has been made. If the subject account is in foreign currency, the Bank reserves the right to conduct a foreign currency exchange transaction for the amount to be charged in AMD using Bank’s “buy” rate for the respective currency.
Service fees, which are charged by the Bank automatically and at specified intervals, are considered as an exception and the average exchange rate for the given date published by the Central bank of the RA for the respective currency is applied.
To express the interest commissions applied to foreign currency transactions in AMD, the average exchange rate published by the Central bank of the RA for that currency on a given date is used.
| In scope of special payroll offers the Bank may apply discounts at its discretion for the fees stipulated in the “Tariff of Charges” or waive the respective fees. |
Account opening and servicing1
| Current account |
|
|---|---|
| Individuals |
AMD 3,000 |
| Sole entrepreneurs |
AMD 5,000
|
| 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) |
| Current account |
Individuals |
|---|---|
|
AMD 3,000 |
|
| Current account |
Sole entrepreneurs |
|
AMD 5,000
|
|
| 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.
| Current account |
AMD 3,000 |
|---|---|
| Savings account2 |
AMD 3,000 |
| Current account |
Savings account2 |
|---|---|
| AMD 3,000 |
AMD 3,000 |
| Current account: Individuals |
AMD 3004 |
|---|---|
| Current account: Sole entrepreneurs |
AMD 5004 |
| Savings account2 |
Free (no charge applies, if the monthly average balance requirement is met.) |
| Current account: Individuals |
Current account: Sole entrepreneurs |
|---|---|
| AMD 3004 |
AMD 5004 |
| Current account: Individuals |
Savings account2 |
| AMD 3004 |
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.
| Current account |
Not required |
|---|---|
| Savings account |
Not required |
| Time deposit (including cumulative account) | AMD 100,000 EUR 500 |
| Current account |
Savings account |
|---|---|
| Not required |
Not required |
| Current account |
Time deposit (including cumulative account) |
| Not required |
AMD 100,000 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 Any foreign exchange transactions will be conducted at the Bank’s exchange rate.
| Individuals |
Sole entrepreneurs |
|---|---|
Average monthly balance requirement (applicable for savings account only)
|
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 service fee in the amount of AMD 100,000 will be applied each month. |
| Individuals |
Average monthly balance requirement (applicable for savings account only)
|
|---|---|
| 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 service fee in the amount of AMD 100,000 will be applied each month. |
| 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. |
| 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 currency5
You can open foreign currency accounts in HSBC Bank Armenia for which the terms and fees presented here 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.
| Card issuance fee |
Free |
|---|---|
Card monthly service fee
|
|
| Additional card issuance fee |
AMD 3,000 one-off |
Additional card service fee
|
|
| Card replacement in branch or electronically | AMD 3,0007 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 when using HSBC Armenia, Ameriabank and Ardshinbank 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 |
| Card issuance fee |
Card monthly service fee
|
|---|---|
| Free |
|
| Card issuance fee |
Additional card issuance fee |
| Free |
AMD 3,000 one-off |
| Card issuance fee |
Additional card service fee
|
| Free |
|
| Card issuance fee |
Card replacement in branch or electronically |
| Free |
AMD 3,0007 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 when using HSBC Armenia, Ameriabank and Ardshinbank 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 |
5 You can find out about the types of foreign currency accounts and other details on the website's Foreign Currency Account | Banking Services - HSBC AM.
6 Monthly service fee is charged at the beginning of each month for the preceding month.
7 No charge will be applied, if card replacement is done via Online/Mobile or Phone Banking services. Card will be sent to the branch of your choice within 3 working days after receipt of the request.
Money Transfers/Demand Drafts
| Transfers from account9 |
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 from account9 |
Credit of received funds to account |
|---|---|
| AMD 30011* |
Free |
| Transfers from account9 |
Amendment or cancellation of payment instructions |
| AMD 30011* |
AMD 5,000 one-off |
| Transfers from account9 |
Demand draft issuance |
| AMD 30011* |
AMD 6,000 one-off |
| Credit of inward remittance amounts to account | Free |
|---|---|
| Outward remittances10 |
AMD 5,000 one-off |
| Amendment or cancellation of payment instruction | AMD 5,000 one-off |
| Credit of inward remittance amounts to account |
Outward remittances10 |
|---|---|
| Free | AMD 5,000 one-off |
| Credit of inward remittance amounts to account | Amendment or cancellation of payment instruction |
| Free | AMD 5,000 one-off |
| Outward remittances of funds paid in cash | 0.3% (min 6,000 AMD) |
|---|---|
| Outward remittances of non-cash funds/subject to foreign currency exchange |
0.1% (min 6,000 AMD) |
| Amendment or cancellation of payment | AMD 20,000 |
| Outward remittances of funds paid in cash |
Outward remittances of non-cash funds/subject to foreign currency exchange |
|---|---|
| 0.3% (min 6,000 AMD) |
0.1% (min 6,000 AMD) |
| Outward remittances of funds paid in cash | Amendment or cancellation of payment |
| 0.3% (min 6,000 AMD) | AMD 20,000 |
| Outward remittances of funds paid in cash |
3% (min 6,000 AMD) |
|---|---|
| Outward remittances of non-cash funds/subject to foreign currency exchange |
0.3% (min 6,000 AMD) |
| Amendment or cancellation of payment | AMD 20,000 |
| Outward remittances of funds paid in cash |
Outward remittances of non-cash funds/subject to foreign currency exchange |
|---|---|
| 3% (min 6,000 AMD) |
0.3% (min 6,000 AMD) |
| Outward remittances of funds paid in cash |
Amendment or cancellation of payment |
| 3% (min 6,000 AMD) |
AMD 20,000 |
| Outward remittances with all currencies served by bank | 6,000 AMD |
Preferential rates (for all foreign currencies except for cases when funds were deposited in cash in currencies other than USD/EUR)
| Average monthly turnover of outward remittance volumes for last 3 months, expressed in USD |
Commission |
|---|---|
| 50,000 and above |
0.1% (min 6,000 AMD) |
| Average monthly turnover of outward remittance volumes for last 3 months, expressed in USD |
50,000 and above |
|---|---|
| Commission |
0.1% (min 6,000 AMD) |
8 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.
9 If the payment instruction (for amounts of up to AMD 50 million) is submitted to the Bank branch or via Phone banking service (in accordance with the daily limit of Phone banking service) 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 Online/Mobile banking service (for amounts of up to AMD 50 million) before 15:00 will be processed same day free of charge.
10 Payment instructions submitted before 14:00 will be processed the latest on the next business day.
Payment instructions submitted after 14:00 will be processed on the next business day.
11 Any foreign exchange transactions will be conducted at the Bank’s exchange rate.
* No charge will be applied, if the payment instruction has been received via Online/Mobile.
| Transfers between accounts held at the Bank |
Free |
|---|---|
| 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 |
| 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 |
- Commissions if intermediary/beneficiary bank charges are paid by the remitter, for the beneficiary to receive the amount without any additional charges12 AMD 5 000.
- The bank is not liable for any refund if payment has already been effected to the beneficiary
- It is Bank's responsibility to provide receipt to customer for each provided service
- 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
- For transfers outside Armenia the requisites for respective currencies published at “HSBC Bank Armenia” CJSC website should be used.
Express Banking
Online Banking registration fee |
Free |
Mobile Banking service registration fee 14 |
Free |
| Monthly service fee | Free |
Online Security device replacement |
|
SMS alert service (Online Banking registration is required for using SMS alert services) |
Free |
| Banking services |
As per Tariff of Charges of transactions performed via Online Banking |
Online Banking registration fee |
Mobile Banking service registration fee 14 |
|---|---|
| Free |
Free |
Online Banking registration fee |
Monthly service fee |
| Free |
Free |
Online Banking registration fee |
Online Security device replacement |
| Free |
|
Online Banking registration fee |
SMS alert service (Online Banking registration is required for using SMS alert services) |
| Free |
Free |
Online Banking registration fee |
Banking services |
| Free |
As per Tariff of Charges of transactions performed via Online Banking |
Important note
The Bank may terminate the agreement on processing of instructions submitted via Online/Mobile Banking service in case customer’s profile is not active (not logged in to the system) during the last 12 months.
| Phone Banking registration fee | AMD 1,000 |
| Monthly service fee | Free |
| Banking services |
as per Tariff of Charges of transactions performed via Phone Banking |
| Phone Banking registration fee | Monthly service fee |
|---|---|
| AMD 1,000 |
Free |
| Phone Banking registration fee |
Banking services |
| AMD 1,000 |
as per Tariff of Charges of transactions performed 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.
13 Online and Mobile Banking services are available for Individuals only.
14 Mobile Banking service is available to HSBC Bank Armenia Online Banking users only.
* Inclusive of VAT.
Bank account statements / other documentation and their copies
By courier within Armenia |
Free |
By Online banking service |
Free |
Collection from branches |
Free |
By e-mail |
Free |
By courier within Armenia |
By Online banking service |
|---|---|
| Free | Free |
By courier within Armenia |
Collection from branches |
| Free | Free |
By courier within Armenia |
By e-mail |
| Free | Free |
| Power of attorney issuance |
AMD 5,000 |
|---|---|
| Advices confirming bank account / loan information / balance17 |
AMD 5,00018 |
| Advices confirming bank account/loan information/balance when requesting via Online or Phone Banking services |
AMD 1,00019* |
| Mortgage loan statement for the selected period | Free |
| Bank confirmation of information for audit purposes (applicable for Sole entrepreneurs only) |
AMD 10,000*
|
| Providing a copy of every month's bank statement, month's account history or every transaction validation document (if information older than 6 months is requested) | AMD 3,00019* |
| Information provided to non-account holders regarding the absence of a bank account | AMD 5,00019* |
| Power of attorney issuance |
Advices confirming bank account / loan information / balance17 |
|---|---|
| AMD 5,000 |
AMD 5,00018 |
| Power of attorney issuance |
Advices confirming bank account/loan information/balance when requesting via Online or Phone Banking services |
| AMD 5,000 |
AMD 1,00019* |
| Power of attorney issuance |
Mortgage loan statement for the selected period |
| AMD 5,000 |
Free |
| Power of attorney issuance |
Bank confirmation of information for audit purposes (applicable for Sole entrepreneurs only) |
| AMD 5,000 |
AMD 10,000*
|
| Power of attorney issuance |
Providing a copy of every month's bank statement, month's account history or every transaction validation document (if information older than 6 months is requested) |
| AMD 5,000 |
AMD 3,00019* |
| Power of attorney issuance |
Information provided to non-account holders regarding the absence of a bank account |
| AMD 5,000 |
AMD 5,00019* |
17 Balance confirmations will be presented as of the date and time of confirmation request.
18 AMD 10,000 will apply, if the customer is Bank account holder for less than 6 months (including orders submitted via Online/Mobile or Phone Banking).
19 Advices/statements will be sent to the branch of your choice within 2 working days after receipt of the request.
*Inclusive of VAT
| Cash deposit in branches |
Free |
|---|---|
| Cash deposit through ATM20 | Free |
| Cash withdrawal of funds deposited in cash (AMD, USD, EUR) | Free |
| Cash withdrawal of non-cash funds in AMD in branches21 | 0.2%, minimum AMD 1,000 |
| Cash withdrawal of non-cash funds in USD/EUR in branches22 |
1%, minimum AMD 1,000 |
| Cash withdrawal of funds deposited in cash/non-cash in other currencies in branches23 | 3% |
| Cash withdrawal from the cards issued by the Bank in USD through Bank's POS terminals | 1% |
Exchange of mutilated/out of circulation foreign currency banknotes, if all necessary distinctive characteristics and parts are available24 |
5% |
| Cash withdrawal from the cards issued by other banks through the Bank’s POS terminals in AMD/ USD | 1% |
| Cash deposit in branches |
Cash deposit through ATM20 |
|---|---|
| Free | Free |
| Cash deposit in branches |
Cash withdrawal of funds deposited in cash (AMD, USD, EUR) |
| Free | Free |
| Cash deposit in branches |
Cash withdrawal of non-cash funds in AMD in branches21 |
| Free |
0.2%, minimum AMD 1,000 |
| Cash deposit in branches |
Cash withdrawal of non-cash funds in USD/EUR in branches22 |
| Free |
1%, minimum AMD 1,000 |
| Cash deposit in branches |
Cash withdrawal of funds deposited in cash/non-cash in other currencies in branches23 |
| Free |
3% |
| Cash deposit in branches |
Cash withdrawal from the cards issued by the Bank in USD through Bank's POS terminals |
| Free |
1% |
| Cash deposit in branches |
Exchange of mutilated/out of circulation foreign currency banknotes, if all necessary distinctive characteristics and parts are available24 |
| Free |
5% |
| Cash deposit in branches |
Cash withdrawal from the cards issued by other banks through the Bank’s POS terminals in AMD/ USD |
| Free | 1% |
20 Maximum daily limit – AMD 1,000,000 to each of the ATM card.
21 Not applicable for withdrawal of funds converted through FX transactions (including conversions made before 18 August 2023), interest paid on deposits and loan encashment. Funds placed as time deposit with a term 91 days and more and not terminated before due date (or funds placed as a time deposit for a shorter tenor but rolled over/stayed for 91 days and more till maturity) are considered as cash.
22 Applicable on the loan encashment, not applicable for withdrawal of funds converted through FX transactions (including conversions made before 18 August 2023), and interest paid on deposits. Funds placed as time deposit with a term 91 days and more and not terminated before due date (or funds placed as a time deposit for a shorter tenor but rolled over/stayed for 91 days and more till maturity) are considered as cash.
23 Applicable on the exchanged amount (including conversions made before 18 August 2023) as well as loan encashment.
24 Service is available for HSBC Bank Armenia customers. For non customers the service is available in case foreign exchange transaction is conducted (daily exchange limit is maximum AMD 400,000).
| Extra large |
AMD 200,000* |
|---|---|
| Large |
AMD 120,000* |
| Medium |
AMD 90,000* |
| Small |
AMD 50,000* |
| Extra large |
Large |
|---|---|
| AMD 200,000* |
AMD 120,000* |
| Extra large |
Medium |
| AMD 200,000* |
AMD 90,000* |
| Extra large |
Small |
| AMD 200,000* |
AMD 50,000* |
| Extra large |
AMD 50,000* |
|---|---|
| Large, Medium |
AMD 30,000* |
| Small |
AMD 15,000* |
| Extra large |
Large, Medium |
|---|---|
| AMD 50,000* |
AMD 30,000* |
| Extra large |
Small |
| AMD 50,000* |
AMD 15,000* |
| Safe deposit lockers (access fee applicable in case of more than 2 visits per week) - charged for each additional visits |
AMD 10,000* |
|---|---|
| Access to safe deposit box, in case if customer does not have own key |
AMD 5,000* |
| Recovery of lost key | AMD 15,000* |
| Safe deposit lockers (access fee applicable in case of more than 2 visits per week) - charged for each additional visits |
Access to safe deposit box, in case if customer does not have own key |
|---|---|
| AMD 10,000* |
AMD 5,000* |
| Safe deposit lockers (access fee applicable in case of more than 2 visits per week) - charged for each additional visits |
Recovery of lost key |
| AMD 10,000* |
AMD 15,000* |
| Action | Fee |
|---|---|
| Issuing chequebook | Free |
| Placement of "Stop Payment" instruction | AMD 3,000 |
| Removal of "Stop Payment" instruction | Free |
| Return of cheque due to insufficient funds | AMD 5,000 |
| Cheque acceptance | AMD 50,00027 |
| Fee for returned unpaid cheques | 10,000 AMD plus intermediary/returning bank charges |
| Action | Issuing chequebook |
|---|---|
| Fee | Free |
| Action | Placement of "Stop Payment" instruction |
| Fee | AMD 3,000 |
| Action | Removal of "Stop Payment" instruction |
| Fee | Free |
| Action | Return of cheque due to insufficient funds |
| Fee | AMD 5,000 |
| Action | Cheque acceptance |
| Fee | AMD 50,00027 |
| Action | Fee for returned unpaid cheques |
| Fee | 10,000 AMD plus intermediary/returning bank charges |
Important note
Other bank cheques are accepted only from account holders having at least 6 (for a bank cheque) or 12 (for a personal and corporate cheque) months satisfactory banking relationship.
Last updated on: 25.09.24, 03:37