S.W.I.F.T. transfers
Opening and Maintenance of Correspondent Accounts
Being one of the most active banks in the field of transfers of freely and non-freely convertible foreign currencies, ARMECONOMBANK OJSC has established correspondent banking relationships with banks operating in various countries. These relationships aim to meet its customers’ payment and settlement needs, reduce the timeframes of commercial transfers, and improve the quality of services provided.
When opening a correspondent account, the following indicators of the partner bank are thoroughly examined:
- The financial stability of the country where the bank is registered,
- The economic and political stability of the country where the bank is registered,
- The financial stability of the bank,
- The bank’s high international reputation,
- Membership in widely recognized international payment systems,
- Availability of an extensive network of correspondent accounts,
- Presence of a branch network in various countries,
- Fast and secure execution of transfers,
- Relatively low commission fees for correspondent accounts,
- ARMECONOMBANK OJSC does not open correspondent accounts with banks operating in countries and territories listed in the “List of Countries and Territories Not Having Passed Legislation on Anti-Money Laundering and Counter-Terrorism Financing” approved by the Central Bank of Armenia,
- The rating assigned to the bank by internationally recognized rating agencies (Moody’s Investors Service, Standard & Poor’s, Fitch Ratings).
- OUR version *
0.15%, min 10,000 dram, max AMD 65,000
- To the Russian Federation and the Republic of Belarus
0.15%, min 50,000 dram, max AMD 100,000
- Guaranteed OUR version (Guaranteed OUR) **
0.15%, min AMD 10,000, max AMD 65,000 + additional AMD 10,000
- BEN version ***
AMD 5,000
* In the case of transfers in USD, 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.
** 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).
*** The commission fees of correspondent bank/s/ are charged from the transferred amount.
- OUR version *
0.15%, min 10,000 dram, max AMD 65,000
- To the Russian Federation and the Republic of Belarus
0.15%, min AMD 50,000, max AMD 100,000
- BEN version **
AMD 5,000
* In case of money transfers in EUR the commission fee/s/ of the correspondent bank/s/ are paid by ARMECONOMBANK OJSC.
** The commission fees of correspondent bank/s/ are charged from the transferred amount.
- OUR version
0.15%, min AMD 12,000, max AMD 50,000
- BEN version *
AMD 6,000
* The commission fees of correspondent bank/s/ are charged from the transferred amount.
0.2%, min AMD 15,000, max AMD 60,000
0.1%, min AMD 5,000, max AMD 30,000
0.2%, min AMD 9,000, max AMD 50,000
AMD 10,000
0.2%, min AMD 25,000, max AMD 50,000
0.2%, min AMD 9,000, max AMD 75,000
- RF ruble
AMD 5,000
- EUR ***
AMD 35,000
- USD and other foreign currency
AMD 30,000
- Remittance of the funds received in accordance with the internal legal acts
0.2% min AMD 10,000
* Transfers withdrawn from ARMECONOMBANK OJSC correspondent accounts.
** If the transfer has not come outside ARMECONOMBANK OJSC, then the change/cancellation fee of the terms is not charged.
*** The commission charged by the third bank for the given service may be additionally charged.
- RF ruble
0.1% min AMD 5,000
- EUR
a/ up to 300.00 EUR - AMD 5,000
b/ 300.01 and more EUR - 0.2%, min AMD 10,000- USD
a/ up to 300.00 USD - AMD 5,000
b/ 300.01 and more USD - 0.2%, min AMD 10,000- Other foreign currency
0.2%, min AMD 10,000
- RF ruble
0.1% min AMD 5,000
- EUR
0.2% min AMD 5,000
- USD and other foreign currency
0.2% min AMD 5,000
- Up to 1,000 USD, EUR and other foreign currency
AMD 1,500
- From 1,001 to 5,000 USD, EUR and other foreign currency
AMD 2,500
- More than 5,001 USD, EUR and other foreign currency
AMD 5,000
- 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) *
AMD 1,000
* The commission charged by the third bank for the given service may be charged additionally
- ARMECONOMBANK OJSC (hereinafter referred to as the Bank) is entitled to independently determine the method of transferring funds (to the intermediary bank(s)) without my/our prior consent.
- In case of a return of the transfer due to incorrect data provided by the Client (hereinafter referred to as the Principal), such as invalid conditions, closed account, etc., any possible charges of the involved banks shall be borne by the Principal.
- The Bank and/or correspondent banks may reject, suspend or freeze the transfer based on their internal legal acts and the requirements of international and domestic legislation. In the event of rejection of the transaction by correspondent banks, deductions may be made from the transferred amount, which are non-refundable.
- If the Beneficiary’s (recipient's) banking details are received solely via e-mail, in order to prevent fraud, it is recommended to contact the Beneficiary (recipient) through an alternative communication channel to re-confirm the account information.
- Due to various circumstances, additional documents or information may be required.
- Transfers via the SWIFT system may be carried out through the AEB Mobile and AEB Online mobile platforms.
- YOU HAVE THE RIGHT TO COMMUNICATE WITH THE FINANCIAL ORGANIZATION IN THE MANNER YOU PREFER — EITHER BY POSTAL MAIL OR ELECTRONICALLY. RECEIVING INFORMATION ELECTRONICALLY IS THE MOST CONVENIENT OPTION: IT IS ACCESSIBLE 24/7, ELIMINATES THE RISK OF LOSING PAPER DOCUMENTS, AND ENSURES CONFIDENTIALITY.
- ARMECONOMBANK OJSC may request additional documents or other information from the consumer based on the “Know Your Customer” principle, in line with the RA Law “On Combating Money Laundering and Terrorist Financing,” as well as pose additional questions during verbal communication (if such request arises).
- Regarding contracts, agreements, partnerships, or memberships entered into by the customer which may have a direct impact on consumers (e.g. under the Foreign Account Tax Compliance Act (FATCA) signed with the United States), the financial institution may collect additional information to determine whether the customer qualifies as a U.S. taxpayer.
- ATTENTION: “YOUR FINANCIAL DIRECTORY” is an electronic platform that facilitates the search and comparison of services offered to individuals and helps you choose the most effective option for your needs. YOUR FINANCIAL DIRECTORY – https://www.fininfo.am
- TIN
- 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
07/30/2025, 03:26 AM
S.W.I.F.T Printable Page
Recipient name:
Recipient`s account number: