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Unallocated metal account

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. 

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

Account opening
with 999.9 gold
for individuals and corporate entities
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.

Annual service fee

AMD 5,000

Minimum debit/minimum size of transaction with the account

1 gram​

Accrued interest against the balance​

0%

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​

Transfers in “ARMECONOMBANK” OJSC

0

Debiting of transferred amounts to the account​

AMD 5,000

  • 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 account closure, the cashless gold available in the metal account shall be sold to the Bank or transferred to another cashless gold account upon the Client’s instruction, not later than within seven days after receiving the Client’s appropriate written application, after which the account is closed.

  • The statements of the unallocated metal account and operations made with it, copies and/or duplicates of payment documents, as well as 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 based on a court decision or an application submitted by the bodies ensuring the enforcement of judicial acts or by the tax authorities.

  • Confiscation of funds from the account without the order of the account holder can be carried out based on an application submitted by the bodies ensuring the enforcement of judicial acts or the tax authorities, after which the Bank is obliged to inform the Client about it within 30 calendar days by providing the account statement through the Client’s communication method.

  • In order to fulfill the Client’s monetary obligations towards the Bank, the Bank may perform a settlement in a non-accepted order, after which the Bank is obliged to inform the Client about it within 30 calendar days by providing the account statement through the Client’s communication method.

Updated: 23/07/2025 07:39