Money transfers
Efficient and secure way of transferring and receiving funds
In AMD (within Armenia)1
| Outward remittances from HSBC Bank Armenia branches, submitted in hard copy instructions2 | AMD 5,0003 |
| Outward remittances submitted via HSBCnet | Free |
| Credit of received funds to customer account | Free |
| Amendment or cancellation of payment instructions | |
| Received by the bank but not processed | Free |
| Received by the bank and processed | AMD 5,0004 |
Transfers in Foreign currency
- Explanations and instructions may accompany the payment.
- The Bank effects transfers in the following currencies USD, EUR, GBP, RUB, CHF, AUD, AED, HKD, CAD, JPY, CNY.
| Transfers in USD/EUR | Commission |
|---|---|
| Outward remittances from HSBC Bank Armenia branches, submitted in hard copy instructions | 0.3%* |
| Outward remittances submitted via HSBCnet | 0.085%* |
| Transfers in foreign currencies other than USD/EUR | |
| Outward remittances from HSBC Bank Armenia branches, submitted in hard copy instructions’ | 3%* |
| Outward remittances submitted via HSBCnet | 0.285%* |
| Other Conditions | |
|---|---|
| Transfers between accounts held at the Bank | Free |
| Credit of foreign currency inward remittance amounts to account, if all charges are not paid by the remitter | AMD 6.000 |
| Amendment or cancellation of foreign currency payment instruction | |
| Received by the bank but not processed | Free |
| Received by the bank and processed | AMD 20.0005 |
| Payment Type | Currency | Cut-off time | Value Effected |
|---|---|---|---|
| Local payments
instructions submitted via HSBCnet |
AMD | Before 15:00 | Instructions submitted before 15:00 will be effected with same day value |
| AMD | After 15:00 | Instructions submitted after 15:00 will be effected next business day value the latest | |
| Local payments
instructions submitted in hard copy |
AMD | Before 14:002 | Instructions submitted before 14:00 will be effected with same day value |
| AMD | After 14:00 | Instructions submitted after 14:00 will be effected next business day value the latest | |
| Local payments | USD | Before 14:00 | Instructions submitted before 14:00 will be effected with same day value** |
| After 14:00 | Instructions submitted after 14:00 will be effected next business day value the latest** | ||
| EUR | Before 14:00 | Instructions submitted before 14:00 will be effected with same day value** | |
| After 14:00 | Instructions submitted after 14:00 will be effected next business day value the latest** | ||
| RUB | Before 13:00 | Instructions submitted before 13:00 will be effected with same day value | |
| After 13:00 | Instructions submitted after 13:00 will be effected next day value the latest | ||
| GBP, CHF, AED, HKD, CAD, CNY | Before 17:00 | Instructions submitted before 17:00 will be effected with next business day value | |
| After 17:00 | Instructions submitted after 17:00 will be effected second business day value the latest | ||
| AUD, JPY | Before 17:00 | Instructions submitted before 17:00 will be effected with second business day value | |
| After 17:00 | Instructions submitted after 17:00 will be effected third business day value the latest | ||
| International payments | USD | Before 17:00 | Instructions submitted before 17:00 will be effected with same day value |
| After 17:00 | Instructions submitted after 17:00 will be effected next business day value the latest | ||
| EUR | Before 14:00 | Instructions submitted before 14:00 will be effected with same day value | |
| After 14:00 | Instructions submitted after 14:00 will be effected next business day value the latest | ||
| RUB | Before 13:00 | Instructions submitted before 13:00 will be effected with same day value | |
| After 13:00 | Instructions submitted after 13:00 will be effected next day value the latest | ||
| GBP, CHF, AED, HKD, CAD, CNY | Before 17:00 | Instructions submitted before 17:00 will be effected with next business day value | |
| After 17:00 | Instructions submitted after 17:00 will be effected second business day value the latest | ||
| AUD, JPY | Before 17:00 | Instructions submitted before 17:00 will be effected with second business day value | |
| After 17:00 | Instructions submitted after 17:00 will be effected third business day value the latest | ||
| Transfers between accounts held at the Bank | All currencies | Before 17:00 | Instructions submitted before 17:00 will be effected with same day value |
| After 17:00 | Instructions submitted after 17:00 will be effected next business day value the latest |
Important notes
- Minimum commission for any foreign currency outward remittance made via branches - AMD 50,000.
- Minimum commission for any foreign currency outward remittance via HSBCnet - AMD 6,000.
- The bank is not liable for any refund, if payment has already been effected to the beneficiary.
- Intermediary/beneficiary bank charges may be either at the expense of beneficiary or remitter, at customer's decision and with the prior consent of the bank.
- It is Bank's responsibility to provide receipt to customer for each provided service.
- Commissions if intermediary/beneficiary bank charges are paid by the remitter:
| outward payments in USD to any bank located in the United States | AMD 5,000 |
| outward payments in USD to any bank located outside the United States7 | AMD 10,000 |
| outward payments in other foreign currencies | AMD 5,0006 |
- Commission for outward remittances in USD to any bank located outside the United States, where the remitter pays only the first intermediary bank charges and the beneficiary receives the amount after charges applied by other intermediary/beneficiary banks - AMD 5,000.
Requisites for wire transfers:
If you wish to receive a foreign currency transfer, you should have the correspondent bank details/requisites, depending on the currency of funds being transferred.
Bank details required for receiving transfers in foreign currencies
1 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.
2 If the paper payment instruction in AMD (for amounts of up to AMD 25 million) is submitted to the Bank after 14:00, but not later than 15:00 and requested to be processed on the same day, the Bank will process the instruction, applying additional AMD 5,000 charge.
3 If the charge is being deducted from the foreign currency account, the transaction will be conducted at the average/mean foreign currency rate published by the Central Bank of Armenia (CBA) as of the previous/ current day of transaction (depending on the time of the transaction), unless it is specified otherwise between the Bank and the Client for the respective currency.
4 If the amendment or cancellation has been effected via HSBCnet, a reduced charge of AMD 3,000 will be applied.
5 If the amendment or cancellation has been effected via HSBCnet, a reduced charge of AMD 9,000 will be applied.
6 If the actual charge amount is above equivalent of AMD 20,000 the difference between already paid commission and actual charge is subject to further debiting from remitter's account.
7 In case of outward remittances in USD to any bank located outside the United States, HSBC Bank Armenia doesn’t guarantee the full amount reaching the beneficiary.
*Calculated over the amount to be transferred
** Processing of payments can be delayed due to unavailability of domestic payment and settlement systems of respective currencies.
Last updated on: 23/06/20 8:58 UTC