S.W.I.F.T. transfers

"ARMECONOMBANK" OJSC is a S.W.I.F.T. a member of the system, which ensures the speed, security and quality of international transfers1 of individuals and legal entities in accordance with the current international banking standards.

TYPE OF THE SERVICE	COMMISSION FEE
2. S.W.I.F.T. transfers in foreign currency outside the “ARMECONOMBANK” OJSC system
2.1 USD
2.1.1 OUR version⁵	0.15%, min 10,000 dram, max 65 000 dram
2.1.1.1 To the Russian Federation and the Republic of Belarus	0.15%, min 50 000 dram, max 100 000 dram
2.1.2 Guaranteed OUR version⁶(Guaranteed OUR)	tariff mentioned in 2.1.1. point + additional AMD 10000
3.1.3 BEN version⁷	5 000 dram
2.2 EUR
2.2.1 OUR version⁸	0.15%, min 10,000 dram, max 65 000 dram
2.2.1.To the Russian Federation and the Republic of Belarus	0.15%, min 50 000 dram, max 100 000 dram
2.2.2 BEN version⁷	AMD 5 000
2.3 CHINESE YUAN
2.3.1 OUR version	0.15%, min AMD 12 000, max 50 000
2.3.2 BEN version⁷	AMD 6 000
2.4 UAE Dirham
2.4.1 OUR version	0.2%, min AMD 15 000, max AMD 60 000
2.5 RF ruble (made only in OUR version)	0.1%, min 5 000 dram, max 30 000 dram
2.6 British pound (made only in OUR version)	0.2%, min 9 000 dram, max 50 000 dram
2.7 In Georgian Lari (made only in OUR version)	10 000 dram
2.8 Swiss Franc(made only in OUR version)	0.2%, min 25 000 dram, max 50 000 dram

2.9 Other foreign currency (is made in BEN version). It is possible to apply OUR version in individual cases on the basis of appropriate application submitted by the account holder client for charging additional tariff later)	0.2%, min 9 000 dram, max 75 000 dram
4. Modification, cancellation of terms of the transfers made9 12
The transfers made cannot be cancelled if the beneficiary (recipient) refuses to return the transferred amount
a/ RF ruble	5 000 dram
b/ EUR	35 000 dram13
c/ USD and other foreign currency	30 000 dram
d/ Remittance of the funds receivedª in accordance with the internal legal acts	0.2% min 10 000 dram
5. Return of unaccounted foreign currency amounts received from correspondent banks to correspondent banks11
5.1 RF ruble	0.1% min 5 000 dram
5.2 EUR
a/ up to 300.00 EUR	5000 dram
b/300.01 and more EUR	0.2%, min 10000 dram
5.3 USD
a/ up to 300.00 USD	5000 dram
b/300.01 and more USD	0.2%, min 10000 dram
5.4 Other foreign currency	0.2%, min 10000 dram
6. On the basis of the client's application, the return of foreign currency amounts received from the correspondent banks in their favor, as well as at the request of the correspondent bank, to the correspondent banks11
a/RF ruble	0.1% min 5 000 dram
b/ EUR	0.2% min 5 000 dram
c/ USD and other foreign currency	0.2% min 5 000 dram
7. Entering foreign currency amounts received from correspondent banks to the client’s account
7.1 Commission fee charged on the funds received in the "SHA" and "BEN" option
7.1.1 Up to 1000 USD, EUR and other foreign currency	1 500 dram

7.1.2 From 1001 to 5000 USD, EUR and other foreign currency

2 500 dram

7.1.3 More than 5001 USD, EUR and other foreign currency

5 000 dram

Provision of Provision of copies and/or duplicates of SWIFT messages, other information and references to natural persons, legal entities and private individuals

(price includes VAT) 14

1 000 dram

1 ARMECONOMBANK OJSC makes transfers outside the territory of Armenia no later than the next banking day.

5 In the case of transfers in US dollars, the amount transferred may reach the beneficiary in full or with certain reductions. In some cases, depending on the transmission path, some correspondents may be sent via the SHA version.

6 In the case of transfers in US dollars, when the client wants to avoid commission charges on the transferred amount, ARMECONOMBANK OJSC offers a guaranteed OUR(Guaranteed OUR) transfer option, in which case ARMECONOMBANK OJSC pays the commission(s) to correspondent bank(s).

7 The commission fees of correspondent bank/s/ are charged from the transferred amount.

8 In case of money transfers in EUR the commission fee/s/ of the correspondent bank/s/ are paid by ARMECONOMBANK OJSC.

9 Transfers withdrawn from ARMECONOMBANK OJSC correspondent accounts.

12 If the transfer has not come outside ARMECONOMBANK OJSC, then the change/cancellation fee of the terms is not charged.

13 The commission charged by the third bank for the given service may be additionally charged.

14 For copies of SWIFT messages sent during the same day-free of charge. The commission charged by the third bank for the given service may be additionally charged

IMPORTANT INFORMATION FOR THE CLIENT

In order to make transfers through the S.W.I.F.T system, customers are required to submit at least the following information:

Patronymic or name
Registration address
Passport data /PSC, or TIN in the case of a legal entity or private individual
Date of birth
E-mail (if available)
Phone (mobile) number
Bank account number of the principal
The amount to be transferred in numbers and the ISO code of currency
Transfer amount and currency in words
Date of making the transfer
Details of the intermediary bank(if available)
Beneficiary's (recipient's) bank details
Full details of the beneficiary (recipient)
Payment details

1. ARMECONOMBANK OJSC (hereinafter referred to as the Bank) has the right to independently choose the way of transferring funds (to the intermediary bank/banks) without my (our) prior consent.

2. In case of return of the transfer made by the fault of the client (hereinafter referred to as the Principal) (for example, inaccuracy of valid conditions, closed account, etc.), possible expenses of the involved banks shall be paid at the Principal's expense.

3. The bank/correspondent banks may reject, suspend or freeze the transfer transaction in accordance with their internal legal acts, as well as international requirements of domestic legislation. In case of rejection of the transaction by correspondent banks, charges may be made from the amount transferred, which are not subject to return.

4. If the data of the Beneficiary (recipient) are received only via e-mail, then in order to avoid fraud, it is recommended to contact the Beneficiary (recipient) through another means of communication in order to verify the account data again.

5. Due to various circumstances additional documents and information may be required.

6. The transfers in SWIFT system can be made with AEB Mobile / AEB Online mobile platforms.

7. “YOU HAVE THE RIGHT TO COMMUNICATE WITH THE FINANCIAL ORGANIZATION IN THE MANNER YOU CHOOSE, WHETHER BY MAIL OR ELECTRONICALLY. RECEIVING INFORMATION ELECTRONICALLY IS THEMOST CONVENIENT. IT IS AVAILABLE 24/7, IS FREE OF THE RISKS OF LOSS OF PAPER INFORMATION AND ENSURES PRIVACY”

8. You can find the list of Nostro and Loro correspondent accounts of ARMECONOMBANK OJSC and the transfer details in different currencies at the following links.

9. ARMECONOMBANK OJSC may request additional documents or other information from the consumer based on the "Know your customer" principle for the purpose of due diligence of the customer defined by the RA Law "On Combating Money Laundering and Terrorist Financing", as well as ask additional questions to the consumer during oral communication (in case of such a request).

10. Regarding contracts, agreements, partnerships, or affiliations signed by the customer that may have a direct impact on consumers (for example, “under the agreement with the USA based on the Foreign Account Tax Compliance Act” (FATCA)) the financial organization may collect additional information to determine whether you are a US taxpayer").

11. "ATTENTION: "YOUR FINANCIAL DIRECTORY" IS AN ELECTRONIC SYSTEM THAT FACILITATES THE SEARCH, COMPARISON OF SERVICES OFFERED TO INDIVIDUALS AND THE SELECTION OF THE MOST EFFECTIVE OPTION FOR YOU").YOUR FINANCIAL DIRECTORY.