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About Account TERMS & CONDITIONS ADDITIONAL DOCUMENTS

Account currency

֏ $ € ₽

Account opening (lump-sum payment/collection at the time of account opening)

Current account in AMD

For RA resident customers

3 000 AMD
free of charge in case of making a time deposit in the bank, acquiring bonds issued by the Bank, opening a social package account, opening a pension account

For non-resident customers

25 000 AMD
free of charge in case of opening a social package account and a social security account

Monthly account service fee

1 500 AMD

Free services included in the package

Current accounts in USD, EURO, RUB
Savings account in AMD
MasterCard Gold or Visa Gold settlement card (with overdraft opportunity)
InecoOnline/Mobile electronic systems
In case of providing a mortgage loan, the Bank makes all payments related to real estate mortgage and cadastral registration
Travellers’ Assistance Insurance - 15 days a year

Annual interest calculated on the positive balance of the account

Cash deposit to accounts

AMD, USD

, EURO

-free of charge *
RUB- The tariff for loan repayment is 0 AMD, for other cases 2 %

* "Cash Operations Tariff" defined by this document is applicable for transactions in AMD not exceeding 50,000 AMD

Cash withdrawal from accounts

AMD: for amount up to 3,000,000 AMD within one calendar month - free of charge for amount exceeding the limit of 3,000,000 AMD - 0.2%, but not less than 500 AMD *

EUR: 1%, but not less than 2 000 AMD*
USD: 1%, but not less than 2 000 AMD*
RUB: 0.5%, but not less than 2 000 AMD*

The tariff is not applied in the following cases:

In case of cash withdrawal (except for card accounts) deposited during the previous calendar and the current year, if the amount is cashed out in the currency it was deposited
In case of cash withdrawal paid to the accounts of individuals on behalf of Inecobank CJSC
In case of deposit/bond amount refund after the expiration of the deposit/bond agreement/application, if the deposit agreement term is more than 3 months, or if the period from the date of concluding the deposit agreement to the early termination of the agreement is not less than 3 months.
In cases provided by terms of other services provided by the Bank

Intrabank

, interbank

and budget

transfers in AMD

Free of charge

Interbank transfers in foreign currency

RUB - 0.1%, minimum 5 000 AMD, maximum 40 000 AMD
USD - OUR - 0.15% minimum 15 000 AMD, maximum 60 000 AMD
Euro and other currency- OUR 0.15%, minimum 9 000 AMD, maximum 60 000 AMD

Interbank transfers in foreign currency on the territory of RA(instruction submitted on paper)

0.1%, minimum 5 000 AMD, maximum 10 000 AMD

Card provided within plus

Card account currency

AMD

Card account annual service fee

Free of charge

Attached card possibility

the primary card is Mastercard Gold: Mastercard Standard

If the main card is Visa Gold: Visa Gold/Visa Classic

Monthly service fee for the attached cards (AMD)

1st card- free of charge

2^nd and further cards- 700

Maximum daily limit for withdrawals

2 000 000 AMD
4 000 USD/EURO
300 000 RUB

Cash-out at the Inecobank cash withdrawal points

Cash-out without card use at the Inecobank cash desks

AMD: 0.2%, but not less than 500 AMD*
EUR: 1%, but not less than 2 000 AMD*
USD: 1%, but not less than 2 000 AMD*
RUB: 0.5%, but not less than 2 000 AMD*

Limit for free cash withdrawal during the calendar month

Cash-out via ArCa system at cash withdrawal points of the banks with certification

750 000 AMD

Cash disbursement via ArCa system in case of exceeding free cash withdrawal limit during the calendar month at the cash points of banks providing certification

Cash-out via ArCa system at cash points of the banks without certification and outside the territory of the RA

1.5%, but not less than 1 500 AMD

Card- to- card transfer

/ Transfer from the card account onto other bank accounts of the same customer

(only via InecoOnline, InecoMobile systems)

SMS messages on the performed transactions

Free of charge

*SMS messages are sent for transactions exceeding 1000 AMD/2 USD/2 EUR/125 RUB unless otherwise ordered by the customer .

Card blocking/unblocking

Free of charge

Reissuance of a lost or damaged card

2 000 AMD

Early closure of a card account

Within 181 days after opening the card account

10,000 AMD, except for the cards that were ordered from 14/11/2020 to 14/05/2021 “Within the Current Tariff Plan"; a tariff in amount of 2,000 AMD will be charges for the latter.
Within 182 and more days after opening the card account

Free of charge

General provisions for Settlement cards provided within “Current” tariff plan (1)

Card is a tool that enables to manage the funds available on the account linked to it (card account) and to make transactions with them. With the help of cards, it is possible to receive cash at ATMs, make payments at merchants which accept the given type of card (through POS terminals), to trade online, as well as perform other transactions. The possibilities provided by each card differ depending on the card type, the rules set by the Bank for the respective service and other factors. Some possibilities of the card may not be available when performing separate operations, as well as when using ATMs and POS terminals of other banks. When using the card, fees, tariffs and special terms set by other banks, payment systems and third parties may be applied, which are beyond the Bank's control and the Bank is not responsible for them.
Card is the property of the Bank and is provided to the customer for the period indicated on the card. The Bank has the right to demand immediate return of the card to the Bank, terminate its use or replace it.
The card, as well as the PIN code, are provided to the Customer in a closed envelope, in person inside the Bank, or it is sent to him/her by post or by other remote channels. PIN code can be set by the Customer at the time of Card activation, for which a password or a one-time confirmation code is used. Upon receiving the Card, the Customer undertakes to sign on the special panel on the Card, thus validating it.
The Bank makes necessary and sufficient identification of the Customer when making card transactions using the card number, CVV code on the back of the card, PIN code, 3DSecure transaction confirmation code, signature and/or other identification data, which is the basis for carrying out the relevant transaction with the funds available on the card account.
The Customer is obliged to strictly follow the rules of using the card, the confidentiality of the PIN code and other identifying data and to exercise the necessary caution to exclude the possibility of illegal use of the card by other parties and access to the data. The Bank is not responsible for the damages caused to the customer as a result of their disclosure to third parties, as well as for the customer's losses or damages due to actions of other parties providing card service, including payment and settlement organizations.
In order to reduce the risks arising during card operations, based on the balance of the card account, the size of the transaction performed through the card account, the place of performance, the limit for the transaction the Bank has the right to inform the customer about the performance of the card account transactions and account activity by sending a message on telephone or other means of communication, and accordingly charge the appropriate fees set forth in this bulletin.
The service of sending SMS messages for card transactions defined by this document is activated at the moment of card order based on the relevant order of the customer. The customer may also choose the transaction amount in case of exceeding which he/she wants to receive an SMS message. Activation/deactivation of the SMS service on card transactions, as well as a change in the transaction amount mentioned above can be made during the whole validity term of the card based on the relevant application submitted by the customer in the Bank/via InecoOnline system.
The customer may not use or allow the Card account to be used for any illegal transaction or payment resulting from it. The the card logo reflected at the place of payment execution (including on relevant websites) shall not mean that the transaction is legal. In case of execution of an illegal transaction, the Bank has the right to demand from the customer to compensate the costs and losses incurred thereby.
In case of illegal use of the card or similar danger, the Bank temporarily terminates servicing the card (blocks the card) at the moment of appearance of the grounds specified by the customer's application or on the latter’s own initiative. The customer bears the risks of all the expenses and losses incurred by the Bank due to card transactions, which do not require certification (permission by the Bank or an authorized person thereby to perform card operations), unblocking of the card, until the card is returned to the Bank. The Bank may also, at its discretion, terminate or suspend servicing the card, demand to return or replace the card or refuse its reissuance, or dissolve the relevant agreement on the issuance and use of the card, in case of doubts about the legality of the card use, as well as in case of violation of the terms of the customer's other obligations to the Bank.
By the application of the customer, the Bank may issue additional cards linked to the given account in the name of other individuals. The additional card is linked to the customer's card account, and a separate account is not opened for it, unless otherwise specified by the Bank.
The customer (main cardholder) together with the linked cardholder is jointly and severally liable for operations performed with the linked card. The provisions of the main terms, tariffs and other documents regulating the card service applicable to the customer (main cardholder) are equally applicable to the cardholder of the linked card.
If the customer does not inform the Bank in writing about the relations related to the issuance and service of the card, including the intention to terminate the card 1 (one) month before the expiration of the card, the Bank may reissue the same card each time with the same terms, and in the absence of the latter with other terms determined by the Bank at the moment. In case of reissuing the card, the expired card is replaced with a new one on the last banking day of the card's validity period.
The Bank has the right to terminate the card service, block the Card and/or close the card account, if within 3 (three) months after the card issuance the customer has not appeared to receive the card and has not paid the card opening and service fees, or if within one year after the card issuance the customer has not appeared to receive the card, though has paid the card opening and service fees.

General provisions for Settlement cards provided within “Current” tariff plan (2)

In case of reasonable doubts that the card transactions have not been made by the Customer, the latter can appeal the card transactions. The relations related to the appeal are regulated by the rules established by the relevant payment system (including the terms for resolving disputes thereof). The Bank shall inform the customer about the process and results of the appeal.
Payment cards specified in this document are provided for a period of 5 years
In case of switching from this tariff plan to another tariff plan according to the customer's application, the tariffs of cards of the same name and the same currency available within the new tariff plan will apply to the cards issued within this tariff plan, if the customer does not want to close the card or change its type. Moreover, the amounts charged for card service fees are not subject to refund/recalculation.
Customers who have joined this tariff plan can get other cards (main or linked) by paying the amount of the card account annual service fee (if any) defined by the tariffs of the given card.
Minimum balance of the card account is not applicable.
The maximum daily cash withdrawal limit at ATMs is as follows:


	MasterCard Standard, Visa Classic քարտեր	MasterCard Gold, Visa Gold,Visa Platinum քարտեր
AMD	1,250,000	2,000,000
USD, EURO	2,500	4,000
RUB	200,000	300,00

In case of increasing the cash withdrawal limit for the entire period of validity of the contract according to the customer's application*, a fee of 10,000 AMD is applied.

* An increase in withdrawal limit is carried out with the consent of the Bank.
Card account replenishment through Inecobank payment terminals is free of charge, and the replenishment of Inecobank card account numbers through the payment terminals of other companies is determined taking into account the tariffs of the company servicing the given terminal.
Card is issued within a maximum of 3 working days, and for the Bank's branches located in regions, the time for card delivery is added to the mentioned period. In case of urgent card order, an additional fee of 3,000 AMD is charged. In case of an urgent order, the card is issued within 1 banking day at the Bank's Retail or Universal branch in Yerevan, and for the branches in the regions, the time for card delivery is added to the specified period.
No fee is charged for blocking and unblocking the card.
No commission is charged for issuing a new PIN code.
Statement date is on the 1st of every month.
in case of early closure of the main card provided within the “basic” package, the following tariffs shall applied, unless otherwise specified by the documents regulating the tariffs of the given card:

- within 365 days upon opening the card account- 2,000 AMD
- within 366 and more days upon opening the card account- free of charge.

in case of early closure of the main card provided within “plus” and “special” packages, the following tariffs shall apply, unless otherwise specified by the documents regulating the tariffs of the given card:

plus

special

Within 181 days upon opening the card account

10,000 AMD, except for the cards that were ordered within

the framework of "Current Tariff Plan"

between 14/11/2020 and 14/05/2021,

a fee of 2,000 AMD is charged for the latter

20,000 AMD

Within 182 and more days upon opening the card account

Free of charge

In case of switching from the basic package to the plus or special package of the current tariff plan, or from the plus package to the special package, the early card account closure fee is not charged for closing the account of the card provided within the basic/plus packages.
When replacing the card type with another card type provided within the same package, only a one-time fee of AMD 2,000 is charged.
In case of using the Priority Pass card in high-class service halls of the airports, a fee of AMD 16,000 will be charged for 1 visit of each visitor.

Other terms

Your financial directory

“YOUR FINANCIAL DIRECTORY” www.fininfօ.am, IS AN ELECTRONIC SEARCH AND COMPARISON SYSTEM FOR SERVICES OFFERED TO CUSTOMERS TO EASE THE PROCESS OF MAKING THE MOST EFFECTIVE OPTION FOR YOU.

Communication with the Bank

YOU HAVE THE RIGHT TO COMMUNICATE WITH INECOBANK CJSC IN A WAY YOU PREFER, BY POST OR ELECTRONICALLY. TO GET INFORMATION ELECTRONICALLY IS THE MOST CONVENIENT WAY. IT IS AVAILABLE 24/7, HAS NO RISK OF PAPER INFORMATION LOSS AND ENSURES CONFIDENTIALITY.
For the purpose of customer due diligence defined by the RA Law "On Combating Money Laundering and Terrorism Financing", the Bank may request additional documents or other information from the Customer based on the "Know Your Customer" principle, as well as during oral communication it may ask additional questions to the Customer (if there is such a request).
According to the agreement signed with the USA based on the Foreign Account Tax Compliance Act (FATCA), the Bank may collect additional information to determine whether the Customer is a US taxpayer or not

Updated as of 30.08.2024 14:23