CURRENT ACCOUNT

Current accounts are opened in AMD, USD, EUR, RUR, GBP, CHF, CNY*, AED*, GEL*.

The current account is serviced free of charge if:

• The minimum threshold of the account’s average daily balance is ensured in accordance with the conditions presented below.
• ACRU members - AMD 5,000 or equivalent amount in foreign currency
• residents - AMD 20,000 or equivalent amount in foreign currency
• non-residents - AMD 50,000 or equivalent amount in foreign currency.
• The customer has a foreign currency card and only a current account opened for that card
• The customer has an "Installment Loan Here and Now" product, a foreign currency card and a current account opened only for that card

If the above conditions are not met, the current account service fee is AMD 300 (monthly).

_{*For accounts in Georgian lari, Chinese yuan, and UAE dirham, only non-cash incoming and non-cash outgoing transactions are permitted.}

_{**The minimum average daily balance requirement applies separately to accounts in each currency; however, the customer may meet the threshold requirement for all current accounts through at least one current or deposit account.}

• The following transactions can be performed with a current account:
• deposit funds into the account*,
• make transfers from the account,
• receive funds from the account,
• convert the current account balance into foreign currency,
• repay loans from the current account,
• and more.

_{* except for banknotes with a nominal value of EUR 500.}

• The current account (including through the acba digital service) is reopened free of charge.
• In case of closing the current account, the previously calculated service fee is not charged.
• When the negative balance of the current account service fee reaches AMD 600, the accounts are automatically frozen and further monthly service fees are no longer charged.
• The current account service fee is charged from the customer’s account on the last banking day of each month.
• The commission fee is charged from the client's AMD account. In the absence of the latter, it is charged from the client's foreign currency account, and the foreign currency conversion is performed at the average foreign currency exchange rate published by the Central Bank of the Republic of Armenia for the given day. The calculation is made for the months preceding the opening of the current account and the closing of the account. 
• The current account agreement is concluded for an indefinite term.

 In Acba bank, the compensation of bank deposits of individuals is guaranteed by the Deposit Guarantee Fund in the amount of deposits subject to compensation, in particular:

The list of required documents for the opening of a current account in Acba bank

Procedure of opening and closing a Bank (current) account

To learn more details about account service tariffs, click here

Previous terms and conditions of account tariffs

The Bank may request additional documents or other information from the customer on the basis of the principle of "Know Your Customer" for the proper study of the customer, defined by the RA Law on Combating Money Laundering and Terrorist Financing, as well as additional information during verbal communication, and ask additional questions to the customer.

During the term of the contract, the account statement and other information subject to mandatory provision by the legislation of the Republic of Armenia are provided free of charge. The statement subject to non-mandatory provision by the legislation of the Republic of Armenia, the copy of the statement, the statement submitted to foreign embassies and visa centers are provided:

• in case of limitation up to 6 months (inclusive) – free of charge,
• in case of limitation from 6 to 12 months (inclusive) – 2,000 AMD (including VAT),
• in case of limitation more than 1 year – 3,000 AMD (including VAT).

Reference provision tariffs:

• during the next business days of the application for receiving the reference - during the business day following the submission of the application at the bank branch – 3,000 AMD, in case of application through the acba digital system – 2,000 AMD (including VAT).
• within 1 hour on the same working day – 5,000 AMD, in case of applying through the acba digital system – 4,000 AMD (including VAT).
• via delivery service - 4,000 AMD (including VAT).
• providing a copy of the certificate within the same day free of charge.

According to the agreement with the United States on the basis of the Foreign Account Tax Compliance Act (FATCA), the financial organization may collect additional information to find out if you are a US taxpayer.

• The customer may deposit and withdraw funds from their account every working day during the Bank's operating hours. In case of cash inflows and outflows in currencies other than the account currency, the exchange rates set by the Bank shall be used for conversion.
• The Bank is obliged to deposit the funds received to the customer's account no later than the day, following the processing of the payment document in the Bank, unless a shorter period is provided by law or the bank’s account agreement.
• The Bank is obliged to credit funds received to the customer’s Account no later than the business day following the receipt of the corresponding payment document, unless a shorter period is specified by law or the terms of the bank account agreement.
• The Bank is obliged to give or transfer money from the account of the customer no later than the day following the processing of the corresponding payment document in the Bank, unless otherwise provided by law, appropriate bank rules or the bank’s account agreement.
• The accountholder’s rights to manage the account and the funds on it may be restricted by a court decision on the basis of an application submitted by the enforcement authorities or the tax authorities.
• Confiscation of funds from the account without the order of the accountholder may be carried out by a court decision on the basis of an application submitted by the enforcement authorities and the tax authorities.
• The account agreement is terminated at any time at the request of the customer.
• The court may, at the request of the Bank, terminate the Account Agreement in the following cases:
• when the amount of funds held in the customer's account is less than the minimum amount stipulated by the bank rules or the contract,
• if such amount has not been recovered within one month from the date of the bank's warning,
• in the absence of operations within the given year.
• The Bank has the right to suspend the operation of the Account Agreement or to terminate it at its own discretion without notifying the customer, if:
• The Bank becomes aware that the individual customer has died or has been recognized as disabled in accordance with the law;
• The Bank has a reasonable suspicion that the customer is circulating funds, received through criminal operations, in the Bank;
• No Account Operations have been performed by the Customer within one year from the opening of the Account.
• In other cases stipulated by law or a separate contract concluded between the Bank and the customer.

Under this clause, in case of suspension of the Account Agreement, the Bank suspends the customer's Account service until the circumstances of the suspension are eliminated, and in case of termination of the Account Agreement, the Bank closes the Customer's Account. 
On the same day of receiving the customer's application, the Bank is obliged to close the Customer's Account, except for the following cases:

• The customer has outstanding liabilities to the Bank,
• The balance of the account is pledged, and there is no pledgee's consent to close the account,
• There is a balance in the account,
• In other cases provided by law and a separate contract.

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