Type of account

savings

Currency

AMD

Opening fee

0

Crediting of sum to the Account¹

The amount of any transaction made through Converse Mobile “Payments” is rounded  up to the limit pre-selected by the client: AMD 100 or AMD 1,000, and the positive difference is credited to the Account.

Directions and method of use of Account funds

The customer may use the funds on the Account any time by transferring between own accounts by taking the appropriate steps in Converse Mobile app in the set sequence, after which the funds on the Account, including the accrued interests are transferred to the account selected by the customer and the Account is closed.

Annual interest vs positive balance on cumulative account²

for up to AMD 50 M balance

for above AMD 50 M balance

5%

0.1%

Annual interest yield

5.09%

0.1%

Other terms

-  Enabling and disabling savings option: opening of the Account, use of funds on the Account and closing of the Account is performed by the customer only through Converse Mobile app.

-  The customer may hold only one Account for Savings.

Notes

¹The sum cannot be credited to the Account by any other method.

²The interests calculated vs the positive balance are accrued in the first 5 banking days following the quarter.

Links

For other tariffs and terms based on the Bank’s standard provisions, unless stated above, please click the following links:

Bank accounts https://conversebank.am/hy/open-account/

Note

10% income tax is charged for accrued interests.

For the purpose of the Customer’s due diligence in compliance with the RA Law on Combating Money Laundering and Financing of Terrorism, the Bank can demand additional documents or other information from the consumer and as well ask additional questions to the customer on “Know your customer” principle.

Based on the Foreign Account Tax Compliance Act (FATCA) Agreement concluded with the US Government, the Bank can collect additional information to clear out your status of a US taxpayer.

In specific cases, the Bank may restrict and/or decline the service based on the RA Law on Combating Money Laundering and Financing of Terrorism, the Foreign Account Tax Compliance Act (FATCA) and the requirements of correspondent banks.

The Bank can revise and amend Tariffs and Rates by giving a notice to the customers in the manner set under the agreement: by posting a message on the Bank’s website (www.conversebank.am), by making the information available in the Bank’s premises, by post delivery and by other methods offered by the Bank and selected by the Customer, which shall be deemed the proper notification of the Customer.

The customer’s rights to use the Account and the cash on the Account may be restricted by the court order based on the claim filed by the enforcement services or tax authorities or other competent authorities.

The cash may be confiscated from the account without the customer’s instruction by the court order based on the claim filed by the enforcement services and tax authorities.  Such action is reflected in the customer’s bank account statements that are provided to the customer in the manner pre-agreed between the Bank and the customer.

Delivery of documents in person at the Bank (including VAT)

Account statement, account turnover info¹

ü AMD 0 for issuance of statement at dates set under the RA laws and/or the agreement in the manner preferred by the customer

ü AMD 0 for issuance of additional electronic statements at dates set under the RA laws and/or the agreement at the choice of the customer, in the manner and for the period preferred by the latter (once per period)

ü In addition to the aforementioned periods

- AMD 1,000 for up to 3 years old

- AMD 3,000 for 3 years old and longer (if held by the Bank)

Statement about current and credit accounts to be disclosed to various institutions, except the customers recognized bankrupt

For accounts opened during 1 month²

AMD 5,000

For accounts opened earlier

AMD 3,000

Based on the application submitted through the Bank’s website

AMD 3,000

References to transactions

Up to 1 month old

AMD 3,000

Longer than 1 month old

AMD 5,000

Copies of documents, transaction grounds and papers (per document)

Up to 1 month old

AMD 1,800

Up to 1 year old

AMD 3,000

Longer than 1 year old

AMD 12,000

Delivery of documents, statements or other papers (including VAT)

In-country

0

Cross-border

Set under the law or the agreement

Tariff of delivery service provider

In other cases

Tariff of delivery service provider + AMD 1,500

Outsourced delivery service

In-country

AMD 3,000

Cross-border

Tariff of delivery service provider + AMD 5,000

¹ If a charge is set for simultaneous issuance of a statement and an extract, and a statement to the same customer, the fee is applied only to the statement.

² In the presence of multiple accounts, the opening date of the earlier account is considered, irrespective of inclusion in the statement.

Deposit currency structure

Max amount of guaranteed deposit

If you have only AMD deposit with the same bank

AMD 16 M

If you have only FX deposit with the same bank

 AMD 7 M

If you have AMD and FX deposits with the same bank

If AMD deposit is above AMD 7 M

AMD 16 M (only AMD deposit is guaranteed)

If AMD deposit is below AMD 7 M

AMD 7 M (AMD deposit is guaranteed totally, and FX deposit – to the amount of difference between AMD 7 M and refundable AMD deposit)