INTERNATIONAL TRANSFERS

Method: OUR

(the correspondent banks’ fees are borne by Acba bank OJSC)

• Up to EUR 12,500 (inclusive) - 0.2%, minimum AMD 9,000

• Over EUR 12,500 - 0.2%, minimum AMD 13,000, maximum AMD 75,000

To Turkey, Romania, and Bulgaria - 0.2%, minimum AMD 15,000, maximum AMD 75,000

To the Russian Federation and Belarus - 0.15%, minimum AMD 50,000, maximum AMD 100,000

Method: BEN

(the correspondent bank’s fee is deducted from the transferred amount)

• 0.1%, minimum AMD 6,000, maximum AMD 60,000

• To the Russian Federation and Belarus - 0.1%, minimum AMD 50,000, maximum AMD 100,000

In the payment details of an international transfer, it is necessary to specify the purpose of the transfer in detail. Along with other requisites (invoice, contract number, date of conclusion), it is mandatory to indicate the product name in English, the product CN, HS, and TARIC codes; in the case of transportation, the name and code of the transported goods, the country from which and to which the goods are transported, etc. In the case of services, the service name and nature must be specified.

Transfers are carried out only using the OUR charging option

(the correspondent bank fee of Acba bank OJSC is paid by Acba bank OJSC)

• 0.1%, minimum AMD 5,000, maximum AMD 30,000

The Bank carries out transfers in the following currencies:

GBP, CHF, AED, CNY

Method: OUR

(the correspondent bank fee of Acba bank OJSC is paid by Acba bank OJSC, while possible expenses related to other intermediary bank(s) involved for the purpose of executing the transfer are deducted from the transferred amount)

• 0.15%, minimum AMD 15,000, maximum AMD 75,000

Method: BEN

(the correspondent bank fee is deducted from the transferred amount) - 0.1%, minimum AMD 6,000, maximum AMD 60,000

For international transfers carried out in GBP, CHF, and CNY, it is necessary to specify the purpose of the transfer in detail in the payment details. Along with other requisites (invoice, contract number, date of conclusion), it is mandatory to indicate the product name in English, the product CN, HS, and TARIC codes; in the case of transportation, the name and code of the transported goods, the country from which and to which the goods are transported, etc. In the case of services, the service name and nature must be specified.

• For transfers in USD / EUR - AMD 7,000

• For transfers in RUR - AMD 3,000

The urgent transfer option applies to transfers of amounts up to USD 500,000 / EUR 500,000 and up to RUB 10,000,000. The commission is charged in addition to the transfer tariffs in effect at the Bank.

Correspondent (Nostro) accounts and details

If you wish to receive a foreign currency transfer from abroad, you need to provide the Bank’s correspondent account details for the respective currency.

Acba bank account details at the Central Bank of the Republic of Armenia:

Account No.: 103002102202б Bank tax ID: 02520007б SWIFT: AGCAAM22

• The time required to carry out an international foreign currency transfer depends on the number of banks through which the transfer is made and generally takes 1-3 banking days. In certain cases, due to the need for additional checks, the specified timeframe may not be observed.
• Incoming transfers are credited to customers’ accounts free of charge.
• If the execution of the payment instruction is unsuccessful for reasons beyond the Bank’s control, the paid commission is non-refundable.
• When carrying out an international foreign currency transfer, the Bank, in accordance with the banking circulars available at the Bank, may independently choose the route of funds transfer (intermediary bank) without the customer’s prior consent.
• If the recipient (beneficiary) of the transferred funds cannot be identified, the transferred funds are returned by the correspondent bank to the bank that executed the transfer. The timeframes and conditions for returning the funds depend on the internal procedural rules of the correspondent banks and the number of banks through which the transfer was made. The Bank credits the returned funds to the bank account of the person who made the transfer, and in the case of transfers made without opening a bank account, returns the funds to the person who made the transfer based on the passport details specified in the transfer instruction.
• If funds are returned due to incorrect or incomplete information provided by the customer (for example, incorrect requisites, a closed account, etc.), any expenses incurred by the banks involved in executing the transfer are borne by the customer.
• From 01.01.2019, for transfers made to the United Arab Emirates, depending on the purpose, it is also necessary to indicate a three-digit “Purpose of Transfer Code” in the transfer details. In the absence of this code, the transfer may be rejected by the beneficiary bank or additional charges may apply.
• The Bank has the right not to execute an incomplete or improperly completed electronic payment instruction submitted by the customer. In such cases, all costs incurred are borne by the customer.
• If the Bank considers a transaction suspicious in accordance with the procedure established by the legislation of the Republic of Armenia, it has the right to suspend the transaction or refuse to execute it (including refusing to establish a business relationship with the customer).
• The Bank, correspondent bank, or intermediary banks may refuse, suspend, or freeze a transaction, or request additional information regarding the parties to the transfer and its purpose, in accordance with their internal legal acts as well as the requirements of international and domestic legislation, for which the Bank bears no liability. In such cases, all costs incurred are borne by the customer.
• For clarifications provided to the correspondent bank regarding transfer requisites, the customer is charged an amount in Armenian dram equivalent to the commission charged by the correspondent bank.
• In certain necessary cases, for transfers in US dollars, Acba bank offers the Guaranteed OUR service, under which, in order to avoid additional charges by intermediary banks being deducted from the transferred amount, an additional fee of AMD 10,000 per transfer is charged in addition to the specified commission.
• If the transferred foreign currency is converted into Armenian dram and then withdrawn, no cash withdrawal fee is charged to Acba bank customers. If funds transferred from a non-cash foreign currency credit are withdrawn in cash, a cash withdrawal fee is charged to the customer.
• The Bank is obliged to provide a document confirming the execution of each transfer, indicating the transfer amount, currency, the amount of commission paid, and other details.
• Non-account-holder customers are allowed to make transfers via the SWIFT system only up to an amount equivalent to USD 3,000, and via the Bank Mail system only for transfers in Armenian dram up to AMD 5,000,000 (inclusive), except for transfers to the state budget of the Republic of Armenia, as no limitation applies in that case.

• If the beneficiary’s account details are received only via email, in order to avoid fraud it is recommended to contact the beneficiary through another communication channel to reconfirm the account details (see Security Rules).

• Electronic payment instructions submitted via the SWIFT system by 16:30 are executed on the same business day. Instructions submitted after 16:30 and on non-business days are executed on the next business day.

• Via the SWIFT system:

• in USD, EUR, and other foreign currencies - AMD 25,000

• for transfers in Russian rubles and Georgian lari - AMD 10,000

• If the transfer has not been sent out of the Bank, no fee is charged for amendment or cancellation.

• Correction of errors in a transfer, as well as cancellation of a transfer, are carried out on the basis of the customer’s written application and an identity document, within the capabilities and timeframes of the transferring and receiving banks; usually (according to established practice) this may take from 2 to 5 banking days.

• If the person initiating the transfer has submitted a request to cancel an executed transfer, but according to the inquiry the funds have already been paid or credited, the Bank cannot bear responsibility for the return of the funds.

ATTENTION:

SECURITY RULES

What should you do if you have a complaint?

Financial assistant

www.fininfo.am

ATTENTION: "YOUR FINANCIAL INFORMANT" IS AN ELECTRONIC SYSTEM THAT MAKES IT EASY TO SEARCH FOR, COMPARE, AND CHOOSE THE MOST EFFECTIVE OPTION FOR INDIVIDUALS.