Conditions

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).

 

We are representing ARMECONOMBANK's correspondent accounts in RA and abroad operating banks.

ARMECONOMBANK's correspondent accounts in Armenian and foreign banks (NOSTRO)
Correspondent Accounts of RA and Foreign Banks at ARMECONOMBANK (LORO)
 
Tariff

2. S.W.I.F.T. transfers in foreign currency out of ARMECONOMBANK OJSC system 

2.1 USD

2.1.1 OUR option 5

0.15%, min AMD 7.500, max AMD 65.000

2.1.2 Guaranteed OUR option  (Guaranteed OUR)

Tariff stated in paragraph 2.1.1  + extra 10000 AMD

2.1.3 BEN option 7

AMD 5.000 

2.2 EUR

2.2.1 OUR option 8 0.15%, min 8.500 AMD, max AMD 65.000 
2.2.2 BEN option 7

AMD 5,000

2.3 RUR (is executed only in OUR option)

0.1%, min 5,000 AMD, max 30,000 AMD

2.4 GBP (is executed only by OUR option)

0.2%, min 9,000 AMD, max 50,000 AMD

2.5 GEL (is executed only by OUR option)

 10,000 AMD 

2.6 CHF (is executed only by OUR option) 0.2%, min 25,000 AMD, max 50,000 AMD

2.7 Other Currencies (BEN Version: In some cases, OUR option may be used on the basis of a relevant application filed by the Account Holder for further charges)  

0.2%, min 9,000 AMD, max 75,000 AMD

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 

Amendment/cancellation 12 of the terms of the executed transfers 9
Executed transfers can't be cancelled, if the amount beneficiary (recipient) refuses to return the amount transferred

RUR

5,000 AMD

EUR

35,000 AMD 13

USD and other currency

30,000 AMD

Currency intra-bank terms amendment and/or cancellation

0.2% min 10,000  AMD

Foreign currency unknown amount recovery to the correspondent banks received from correspondent banks 11

RUR

0.1% min 5,000 AMD

EUR

up to 300 EUR

5,000 AMD

300.01 and more EUR

0.2% min 10,000 AMD

USD

up to 300 USD

5,000 AMD

300.01 and more USD

0.2% min 10,000 AMD

Other currency

0.2% min 10,000  AMD

Upon customer requests, return of received foreign currency amounts to correspondent banks 11

RUR

0.1% min 5,000 AMD

EUR

0.2% min 5,000 AMD

USD and other currency

0.2% min 5,000 AMD

7. Commission fees charged from"SHA" և "BEN" options  
7.1 Up to 1000 USD, EUR, and other currency 1.500 AMD
From 1001 to 5000 USD, EUR, and other currency 2.500 AMD
More than 5000 USD, EUR, and other currency 5.000 AMD  

Provision of copies and/or duplicates of  SWIFT messages to physical entities, legal entities and private entrepreneurs

(tariff includes VAT)14

1.000 AMD

The transfers out of RA territory is executed no later than the next working day.

  1. In case of USD transfer, the beneficiary can receive the amount transferred fully or with some reductions. In some cases, based on the way of transfer, the transfer of amount to the correspondents may be executed through SHA option.
  1. 6 In case of USD transfers, when the customer wants to avoid commission fee of 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.
  1. 7 Commissions of Correspondent bank(s) are charged from the amount transferred.
  1. 8 In case of EUR transfer, correspondent bank commission fees are paid by ARMECONOMBANK OJSC.
  1. 9 Transfers debited from correspondent accounts of ARMECONOMBANK OJSC.
  1. 11 Charged from the amount transferred. The given tariff is not available in case of the recovery of unidentified foreign amounts received from BANK OF GEORGIA, TBILISI, GEORGIA.
  1. 12 If the transfer has not left ARMECONOMBANK OJSC yet, terms amendment/cancellation tariff isn't charged.
  1. 13 The commission fee charged by the third bank for the given services may be additionally charged.
  1. 14 Free of charge for the copies of SWIFT messages executed within the same day.

 

 

 

 

 

Correspondent account
Flag BG United States Dollar-USD
Beneficiary Bank
NAME: ARMECONOMBANK OJSC
ADDRESS: Republic of Armenia, Yerevan 0002, Amiryan str. 23/1
SWIFT:ARECAM 22
Intermediary Bank
NAME: RAIFFEISEN BANK INTERNATIONAL AG
ADDRESS: Am Stadtpark 9 A -1030, Vienna Austria
SWIFT: RZBAATWW
ARMECONOMBANK OJSC ACCOUNT: No. 070-55.076.004
Flag BG EURO-EUR
Beneficiary Bank
NAME: ARMECONOMBANK OJSC
ADDRESS: Republic of Armenia, Yerevan 0002, Amiryan str. 23/1
SWIFT:ARECAM 22
Intermediary Bank
NAME: RAIFFEISEN BANK INTERNATIONAL AG
ADDRESS: Am Stadtpark 9 A -1030, Vienna Austria
SWIFT: RZBAATWW
ARMECONOMBANK OJSC ACCOUNT: No. 000-55.076.004
Flag BG Russian Federation Ruble-RUB
Beneficiary Bank
БАНК КОРРЕСПОНДЕНТ
NAME: СБЕРЕГАТЕЛЬНЫЙ БАНК РОССИЙСКОЙ ФЕДЕРАЦИИ
ADDRESS: 117997, Россия, г. Москва, ул. Вавилова, 19
SWIFT: SABR RU MM
K/C 30101810400000000225, БИК 044525225
ИНН 7707083893
ARMECONOMBANK OJSC ACCOUNT: No. 30111810000000000501
Intermediary Bank
БАНК ПОЛУАЧАТЕЛЯ
NAME: ОАО «АРМЭКОНОМБАНК»
ADDRESS: 0002, Армения, г. Ереван, ул. Амиряна, 23/1
SWIFT:ARECAM22
Flag BG Georgian Lari-GEL
Beneficiary Bank
Beneficiary’s bank: ARMECONOMBANK
Address: Republic of Armenia, Yerevan, 23/1 Amiryan str.
Swift:ARECAM 22
Intermediary Bank
Intermediary bank JSC “BANK OF GEORGIA”
29A, Gagarini str.,
Tbilisi 0160, Georgia
S.W.I.F.T.: BAGAGE22
account No GE22BG0000000361464900 (GEL) of
Armeconombank
Flag BG Great Britain Pounds-GBP
Beneficiary Bank
BENEFICIARY’S BANK
NAME: ARMECONOMBANK OJSC
ADDRESS: Republic of Armenia, Yerevan 0002, Amiryan str. 23/1
SWIFT:ARECAM 22
Intermediary Bank
INTERMEDIARY BANK
NAME: KBC BANK NV
ADDRESS: Brussels, Belgium
SWIFT: KREDBEBB
ARMECONOMBANK OJSC ACCOUNT: No. BE12488592249092GBP
Flag BG Swiss Franc-CHF
Beneficiary Bank
NAME: ARMECONOMBANK OJSC
ADDRESS: Republic of Armenia, Yerevan 0002, Amiryan str. 23/1
SWIFT:ARECAM 22
Intermediary Bank
NAME: JSC BANK OF GEORGIA
ADDRESS: 29A, Gagarini str., Tbilisi 0160, Georgia
SWIFT: BAGA GE 22
ARMECONOMBANK OJSC ACCOUNT: No. GE22BG0000000361464900
Updated: 22/06/2022 12:59