Unallocated metal account
“ARMECONOMBANK” OJSC offers an alternative way of funds investment-unallocated gold accounts. Gold account is opened and maintained bank account on the purpose of cashless gold accounting and signing cashless gold transactions. For which only the weight and fineness are indicated, without gold’s other personal data. 

Unallocated gold accounts offer you the opportunity to diversify your savings and to use these benefits:

Decrease of the impact of currency exchange rate fluctuations,
Avoid the risk of loss or damage of gold,
Avoid time loss of performing material gold sale and purchase,
Avoid additional expenses for material gold preservation and transportation,
Avoid possible fraud during material gold purchase.

Terms and conditions of opening and maintenance of unallocated accounts in “ARMECONOMBANK” OJSC:
Metal accounts are opened for individuals and corporate entities,
Accounts are opened with 999.9 gold,
The accounting of the cashless gold in the metal accounts is made in grams, with 0.01 gram precision,
The Bank determines foreign exchange rates from the sale and purchase of 1 gram cashless gold through which transactions via accounts are performed,
The metal account transactions do not presuppose cash debiting and crediting of gold.
Metal accounts are not reimbursed by the Deposit Guarantee Fund.

Tariff of unallocated metal account​

Annual service fee

AMD 5,000

Minimum debit/minimum size of transaction with the account

1 gram​

Accrued interest against the balance​


Transfers out of “ARMECONOMBANK” OJSC​

As of the moment of transferred metal quantity transaction performance in the foreign exchange rate defined by CBA of the calculated amount 0.1% min AMD 15,000​



Debiting of transferred amounts to the account​

AMD 5,000

General Information
The physical entity client submits the following documents to the Bank to open an account
PunctIdentification document,
PunctSocial card (RA residents).
PunctIn case of a person authorized to manage the funds of the account (accounts), a power of attorney certified by a notary or issued in the prescribed manner by the client personally in the Bank
Due to various circumstances additional documents and information may be required. The account can be closed by the client's unilateral application for closure or unilaterally by the Bank in case of lack of funds and failure to perform operations on the account within a year, non-fulfillment of fees specified by the Tariffs, other obligations of the client, as well as in other cases specified by the Terms. In case of closure of account the cashless gold available in metal account is sold to the Bank or transferred to other cashless gold account not later than within seven days after receiving the appropriate written application of the customer, after which the account is closed.  The statements on unallocated metal account and operations made with it, the copies of payment documents and/or duplicates, other information and references are provided at the tariffs set for the Main bank account.    The rights of the account holder to manage the account and the funds therein may be restricted on the basis of a court decision by the bodies providing enforcement of judicial acts or on the basis of application submitted by tax authorities.  Confiscation of funds from the account without the order of the account holder can be carried out based on the application submitted by the bodies ensuring the enforcement of judicial acts and the tax authorities, after which the Bank is obliged to inform the Client about it within 30 calendar days, providing the account statement through the latter's communication method. In order to fulfill the Client's monetary obligations towards the Bank, the Bank can make a settlement in an unaccepted order, after which the Bank is obliged to inform about it to the Client within 30 calendar days providing an account statement through the latter’s communication method.
Updated: 11/04/2023 10:33