S.W.I.F.T. Transfers

Opening and maintenance of correspondent accounts

As one of the most actively operating banks in the sphere of foreign hard and soft currency transfers, ARMECONOMBANK OJSC, to meet its customer's payment/settlement requirements, to cut the time of making commercial transfers and to rise the quality of transfers has established correspondent relations with banks operated in different countries located in foreign countries to meet the payment/settlement needs of its Customers.
During opening of correspondent account the following bank indicators are scrutinized:

Financial stability of the country in which the bank is registered,
Financial and economic stability of the country in which the bank is registered,
The bank's financial stability,
The bank's high international rating,
Membership to widely recognized International Payment Systems,
Existence of a wide network of correspondent accounts,
Existence of branch network in different countries,
Fast and secure performance of transfers,
Lower commission fees for correspondent accounts
Armeconombank holds no correspondent accounts only with the banks operating within the countries mentioned in the "List of Countries and Territories not having passed a legislative act on "Safeguarding Banks from Circulation of Criminally Obtained Funds, Preventing Funding for Terrorism" approved by CB of Armenia,
Bank rating received from well-known International rating companies. (Moody°s Investors Service, Standard & Poor's, Fitch Ratings).

Correspondent accounts

At present ARMECONOMBANK OJSC maintains correspondent accounts with several Armenian and foreign banks. ARMECONOMBANK OJSC also offers services to a number of Armenian and foreign banks at low commissions.

Correspondent accounts in RA and abroad
RA and foreign bank correspondent accounts in ARMECONOMBANK OJSC

S.W.I.F.T. transfers with currency1
USD
OUR option2
Up to USD 2,000 AMD 4,000
USD 2,000 and more 0.2%, min AMD 6,000, max AMD 75,000
Guaranteed OUR option3 0.2%, min AMD 10,000, max AMD 75,000
BEN option4 AMD 5,000
EUR
OUR option5 AMD 5,000
EUR 2,000.01 and more 0.2%, min AMD 9,000, max AMD 75,000
BEN option AMD 5,000
RUR (is executed only by OUR option) 0.1%, min AMD 5,000, max AMD 50,000
GBP (is executed only by OUR option)0.2%, min AMD 9,000, max AMD 50,000
GEL (is executed only by OUR option) AMD 10,000
Other currency (is executed only by BEN option) 0.2%, min AMD 9,000, max AMD 75,000
USD and EUR in RA territory
Up to USD 20,000 or EUR 20,000 AMD 5,000
USD/EUR 20,001 and more AMD 10,000
Executed transfer6 term amendment/cancellation7
Executed transfers can't be cancelled, if the amount beneficiary refuses to return the amount transferred
AMD8 AMD 2,000
RUR AMD 5,000
EURO AMD 35,000
USD and other currency AMD 30,000
Currency transfers terms amendments and/or cancellation via clearing systems (except INTELEXPRESS, Money Gram systems) AMD 3,000
Currency intra-bank terms amendment and/or cancellation AMD 1,000
Return of incoming payments due to Internal policy 0.2% min 10,000 AMD
Foreign currency unknown amount recovery to the correspondent banks received from correspondent banks9
RUR 0.1% min AMD 5,000
EURO 0.2% min AMD 5,000
USD and other currency 0.2% min AMD 5,000
EURO 0.2% min AMD 5,000
Upon customer requests, return of received foreign currency amounts to correspondent banks9
RUR 0.1% min AMD 5,000
EURO 0.2% min AMD 5,000
USD and other currency 0.2% min AMD 5,000

1. a/ Transfers to Syria and Cuba are executed only by BEN option.
b/ AMD,USD and EUR transfers to Latvian NORVIK bank's customers' accounts are executed only by OUR option, AMD 3,000 commission fee is charged regardless the amount.

2. In case of USD transfer, the beneficiary can receive the amount transferred fully or with some reductions.

3. In case of USD transfers, when the customer avoids commission fee from the transferred amount, ARMECONOMBANK OJSC offers “Guaranteed OUR” transfer type option, in which case the correspondent bank's fee(s) will be paid by ARMECONOMBANK OJSC.

4. Correspondent banks commission fees are charged from the amount transferred.

5. In case of EUR transfer, correspondent bank commission fees are paid by ARMECONOMBANK OJSC.

6. Dispensed transfers from ARMECONOMBANK OJSC foreign correspondent accounts.

7. If the transfer has not left ARMECONOMBANK OJSC yet, terms amendment/cancellation tariff isn't charged.

8. Data amendments on utility payments and transfers towards loan repayment in ARMECONOMBANK OJSC by AEB borrowers are FREE of charge.

9. Charged from the amount transferred.

Opening and maintenance of correspondent accounts

As one of the most actively operating banks in the sphere of foreign hard and soft currency transfers, ARMECONOMBANK OJSC, to meet its customer's payment/settlement requirements, to cut the time of making commercial transfers and to rise the quality of transfers has established correspondent relations with banks operated in different countries located in foreign countries to meet the payment/settlement needs of its Customers.
During opening of correspondent account the following bank indicators are scrutinized:

Financial stability of the country in which the bank is registered,
Financial and economic stability of the country in which the bank is registered,
The bank's financial stability,
The bank's high international rating,
Membership to widely recognized International Payment Systems,
Existence of a wide network of correspondent accounts,
Existence of branch network in different countries,
Fast and secure performance of transfers,
Lower commission fees for correspondent accounts
Armeconombank holds no correspondent accounts only with the banks operating within the countries mentioned in the "List of Countries and Territories not having passed a legislative act on "Safeguarding Banks from Circulation of Criminally Obtained Funds, Preventing Funding for Terrorism" approved by CB of Armenia,
Bank rating received from well-known International rating companies. (Moody°s Investors Service, Standard & Poor's, Fitch Ratings).

Correspondent accounts

At present ARMECONOMBANK OJSC maintains correspondent accounts with several Armenian and foreign banks. ARMECONOMBANK OJSC also offers services to a number of Armenian and foreign banks at low commissions.

Correspondent accounts in RA and abroad
RA and foreign bank correspondent accounts in ARMECONOMBANK OJSC

S.W.I.F.T. transfers with currency1
USD
OUR option2
Up to USD 2,000 AMD 4,000
USD 2,000 and more 0.2%, min AMD 6,000, max AMD 75,000
Guaranteed OUR option3 0.2%, min AMD 10,000, max AMD 75,000
BEN option4 AMD 5,000
EUR
OUR option5 AMD 5,000
EUR 2,000.01 and more 0.2%, min AMD 9,000, max AMD 75,000
BEN option AMD 5,000
RUR (is executed only by OUR option) 0.1%, min AMD 5,000, max AMD 50,000
GBP (is executed only by OUR option)0.2%, min AMD 9,000, max AMD 50,000
GEL (is executed only by OUR option) AMD 10,000
Other currency (is executed only by BEN option) 0.2%, min AMD 9,000, max AMD 75,000
USD and EUR in RA territory
Up to USD 20,000 or EUR 20,000 AMD 5,000
USD/EUR 20,001 and more AMD 10,000
Executed transfer6 term amendment/cancellation7
Executed transfers can't be cancelled, if the amount beneficiary refuses to return the amount transferred
AMD8 AMD 2,000
RUR AMD 5,000
EURO AMD 35,000
USD and other currency AMD 30,000
Currency transfers terms amendments and/or cancellation via clearing systems (except INTELEXPRESS, Money Gram systems) AMD 3,000
Currency intra-bank terms amendment and/or cancellation AMD 1,000
Return of incoming payments due to Internal policy 0.2% min 10,000 AMD
Foreign currency unknown amount recovery to the correspondent banks received from correspondent banks9
RUR 0.1% min AMD 5,000
EURO 0.2% min AMD 5,000
USD and other currency 0.2% min AMD 5,000
EURO 0.2% min AMD 5,000
Upon customer requests, return of received foreign currency amounts to correspondent banks9
RUR 0.1% min AMD 5,000
EURO 0.2% min AMD 5,000
USD and other currency 0.2% min AMD 5,000

1. a/ Transfers to Syria and Cuba are executed only by BEN option.
b/ AMD,USD and EUR transfers to Latvian NORVIK bank's customers' accounts are executed only by OUR option, AMD 3,000 commission fee is charged regardless the amount.

2. In case of USD transfer, the beneficiary can receive the amount transferred fully or with some reductions.

3. In case of USD transfers, when the customer avoids commission fee from the transferred amount, ARMECONOMBANK OJSC offers “Guaranteed OUR” transfer type option, in which case the correspondent bank's fee(s) will be paid by ARMECONOMBANK OJSC.

4. Correspondent banks commission fees are charged from the amount transferred.

5. In case of EUR transfer, correspondent bank commission fees are paid by ARMECONOMBANK OJSC.

6. Dispensed transfers from ARMECONOMBANK OJSC foreign correspondent accounts.

7. If the transfer has not left ARMECONOMBANK OJSC yet, terms amendment/cancellation tariff isn't charged.

8. Data amendments on utility payments and transfers towards loan repayment in ARMECONOMBANK OJSC by AEB borrowers are FREE of charge.

9. Charged from the amount transferred.

Last modified on Friday, 15 September 2017 14:55