Current account

HSBC Bank Armenia’s current account is a gateway to our entire network of international connections and capabilities.

Current accounts can be opened in the following currencies: AMD, USD, EUR, GBP, RUB, JPY, CNY, CAD, HKD, AUD, CHF, AED. Regardless of the currency of your current account, transactions in other currencies acceptable by the Bank can be performed as well. In such cases, foreign exchange currency transactions are provided by the rate stated by the Bank.

The corporate account will be activated within 3-5 working days (in exceptional cases it could be increased up to 60 calendar days) after all the necessary documentation has been presented and accepted by the Bank. First time relationship establishment with the Bank is being carried out only in Head Office.

Customers will be advised individually regarding presentation terms and timing depending on requested information/documentation. Conditioned by various factors the Bank may require additional information/documentation during and after account opening.

The statistics of the corporate account turnover and average balance is an important factor for building a future commercial banking relationship and receiving various products and services offered by our bank.

HSBC Bank Armenia applies individual approach to the account holders and may provide individual preferential tariffs in view of developing further relationship with the customers. The preferential tariffs provided to the account holders may also cover outward and inward remittances, cash withdrawals charges, foreign currency exchange transactions.

A customer's right to manage their bank account and the funds available on it can be restricted due to decisions issued by the Judicial Acts Compulsory Enforcement Service or tax authorities based on court verdict. Levy of monetary funds without order of the customer can be executed on decisions issued by Judicial Acts Compulsory Enforcement Service and tax authorities based on court verdict. The customer will be informed about this after the bank has executed the decision on levy of funds from the customer's account within 3 working days.

Current accounts tariffs and transactions

Account opening fee AMD 5,000
Additional account opening AMD 3,000
Minimum deposit Not required

Cash deposits and cash withdrawals can be made at any branch of the Bank subject to availability of satisfactory evidence of identity and authorities of the Customer's representative acceptable to the Bank. Cash deposits are credited onto the bank account at the submission of cash funds (unless otherwise provided by an agreement signed between the Bank and the Customer).

The cash withdrawals are made immediately upon the Customer’s request. The Bank must be informed about the withdrawal of amounts exceeding the thresholds set by the Bank one day prior to the withdrawal. The Customer can obtain information on the above-mentioned thresholds at any branch of the Bank.

Current accounts can be managed by visiting the Bank, as well as through Online/Mobile and Telephone banking services.

Bank closes the account in maximum three working days after the submission of the corresponding account closure application form, if there are no restrictions related to the account operating and closure defined by the Bank’s internal procedures or RA legislation.

Customer account(s) with the Bank which are held with less than AMD 5.000.000 in aggregate average quarterly balance at any given time within 3 uninterrupted months may be closed at unilateral decision of the Bank.

Customer account(s) with no customer generated transactions within 12 uninterrupted months may be closed at unilateral decision of the Bank.

There are no charges applied to current account closure.

You can learn more about “Money transfers” service by following the link.

You can learn more about Bank advices/statements provision in “Other services” section.


Monthly maintenance fee

Irrespective of the fact whether the customer uses the account or not, monthly maintenance fee of AMD 5001 will be applied to each current account.


Additional annual maintenance fee

Applicable only for embassies.

The Bank will apply additional annual fee in the amount of AMD 1.900.0002 and charge it.


Average quarterly balance

If the aggregate average quarterly balance of all bank accounts held by a customer 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 maintenance fee in the amount of AMD 100.0002 will be applied each month.


Maximum balance

If the credit balance on Customer’s account (if there are several accounts, the aggregate credit balance of all those accounts, hereinafter referred to as “the Balance”) at the end of any day exceeds the amount of 9.500.000.000 in Armenian dram or its equivalent in foreign currency (hereinafter referred to as “Exceeding balance”), starting from the 1st day of exceeding the Balance, the Customer is obliged to pay to the Bank, an additional daily account service fee on daily basis, which equals to maximum 3% annually of the Balance.

Meanwhile,

For each day the additional daily account service fee should be levied in Armenian dram during the consecutive day.

For the purposes of this clause:

  • For foreign currency accounts the Balance, Exceeding balances as well as collection of the additional account service fees are calculated “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;
  • Interest rate applied by bank for an account’s balance is 0%

1 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.

2 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.

Corporate ATM cards

You don’t need to visit our branches for cash withdrawal transactions anymore. Company authorised signatories/executives can also effect cash transactions with their corporate ATM card 24/7.

Corporate ATM cards enable our corporate customers to have an easy and quick access to their company funds. The product allows company director and other authorized individuals to obtain cash funds from HSBC Bank Armenia ATM network.

Benefits for you

  • No encashment fee.
  • Transfer funds between company accounts or other accounts within the Bank.
  • Check company account balances.
  • Conduct foreign exchange transactions.

Corporate ATM cards tariffs

Card issuance fee for the first 3 cards1 Free
Additional card issuance fee1 AMD 3,000
Card replacement AMD 3,000
Monthly service fee2 AMD 1,000
Transfer of funds between accounts held at HSBC Bank Armenia Free
Daily transfer limit3 AMD 3,000,000
Cash withdrawal at bank's ATMs Free
Cash withdrawal daily limit3 AMD 500,000

1 First three cards are issued free of charge. Starting from fourth card issuance is subject to Additional card issuance fee per card.

2 Monthly service fee is charged at the beginning of each month for the preceding month.

3 Cards daily transactional limit is a total limit for all ATM Corporate cards issued to the Company.

Call us on:

+37460 655 000

Our phone lines are open 24/7

Last updated on: 22/11/19 18:48 UTC

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