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About Account Terms & Conditions ADDITIONAL DOCUMENTS

Account currency

֏ $ € ₽

Current account in AMD

For resident customers

5,000 AMD
2 000 AMD - in case of payment card order
free of charge : for account opening with online registration

, in case of making a term deposit in the Bank

in case of acquiring bonds issued by the Bank, opening a social package account, opening a pension account, for a loan provided via www.sprintonline.am

For non-resident customers

25,000 AMD
free of charge - in case of opening social package and social insurance accounts

One-time payment for opening current accounts in foreign currency (USD, EUR, RUB)

In case of opening an account via InecoOnline/Mobile electronic systems - free of charge
In case of opening an account in the bank’s branches and in the Head office - 1000 AMD each

Monthly account service fee

Free of charge

Free services included in the package

InecoOnline/InecoMobile
Savings account in AMD

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 shall be applicable for transactions in AMD not exceeding 50,000 AMD

Cash withdrawal from accounts

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 transfers

Free of charge

Interbank transfers in AMD

In case of transfers via InecoOnline/Inecomobile electronic systems- free of charge
In case of transfers in the bank’s branches and the Head office- 200 AMD each

Transfers to budget in AMD

Via InecoOnline/InecoMobile electronic systems- free of charge
In the bank’s branches and the Head office- 200 AMD each

Interbank transfers in foreign currency (Instruction submitted on paper)

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

- OUR 0.15%, minimum 9 000 AMD, maximum 60 000 AMD

Interbank transfers in foreign currency (instruction submitted by remote control systems)

A tariff 20% lower for instructions submitted on paper for interbank transfers in foreign currency (including Guaranted OUR, BEN transfers and "Urgent" transfers)

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

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

“Urgent” interbank transfers with paper/written payment order (within the same operational day)

AMD։ 2000 AMD one-time additional fee
Foreign currency: 5 000 AMD one-time additional fee

Submission of request for execution of payment order, change or cancellation of the payment order

AMD - 1,500 AMD
RUB - 6,000 AMD
USD, EURO and other foreign currency - 30,000 AMD

Account closure

Free of charge

General provisions for bank account “Standard” tariff plan

In case of switching from this tariff plan to another one according to the customer's application, the tariffs of the relevant package available within the given/new tariff plan will apply to the services defined by this document.

If the Customer wants to open an account he/she can approach any Retail or Universal branch of the Bank, presenting the documents required for opening an account. The bank officer introduces the terms and tariffs of the bank account service to the Customer, checks the completeness and validity of submitted documents, and if they are complete, the Bank service provision application/agreement is concluded with the Customer and the commission specified by the tariffs is charged.
In order to open current bank accounts, it is necessary to submit an identity document defined by RA legislation, a Personal Public Service number or a reference of not receiving it (in case of a citizen of the Republic of Armenia, a foreign citizen with the right of residence in the Republic of Armenia, a person permanently residing in the Republic of Armenia without citizenship and a refugee).
Accounts are opened for an indefinite period. Minimum amount required to open an account, as well as minimum account balance is non applicable.
Account opening and servicing in currencies other than AMD, USD, EUR, RUB, is carried out on a contractual basis.
Cash disbursement in amount of 3,000,000 (three million) AMD or equivalent foreign currency shall be made on the basis of a pre-submitted application, which shall be submitted to the Bank at least one day before, by 14:45. The disbursement of amount more than three million AMD without a preliminary order may be refused by the Bank or be satisfied with the right to charge an additional cash withdrawal fee of 0.5% of the amount exceeding the specified amount
Unless there is another deadline stated in the payment order submitted by the customer, the intrabank transfers under these Tariffs are actually performed on the day of acceptance of the payment order by the Bank, and interbank transfers are actually made (the amount to be transferred is sent by the Bank to an intermediary or beneficiary bank)

- on the day of receipt of the payment order by the Bank, if

the paper/written payment order was submitted by 13:00
the payment order was submitted via remote control systems by 14:00

-on the operational day following the day of acceptance of the payment order by the Bank (except for "Urgent" orders which are accepted before 15:00 of the given operational day and executed on the same operational day), if

the paper/written payment order was submitted after 13:00
the payment order was submitted via remote control system after 14:00

- on the operational day following the day of receipt of the payment order by the Bank in case of submitting the interbank transfer order on Saturday.

In case of incoming transfers in RUB through the Eurasian Development Bank, a commission of 5%, minimum 3,000 AMD will be applied to the amount while crediting the transferred amount to the customer's bank account.
If the Customer has not made any transactions through accounts continuously for a calendar year, the Bank may set a fee of 100% of the actual balance for each subsequent calendar year, but not more than AMD 3,000. The fee will be charged during the following calendar year.
The Bank is entitled to unilaterally close the accounts with zero balance and with no transaction continuously for one year without going to court.
If there are no restrictions, Bank accounts are closed free of charge,
ATTENTION: The Customer's rights to manage the account and the funds on it may be limited by the court decision based on the application submitted by the judicial acts compulsory enforcement bodies or tax authorities, as well as due to freezes applied as a result of the transactions concluded with the Bank. In addition to the cases provided for in the Main Terms, funds can be withdrawn from the Account without the Customer's order based on the application/acts submitted by the bodies providing compulsory enforcement of judicial acts, tax authorities and other competent state authorities
Commissions subject to VAT taxation, are also VAT-inclusive.

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

Cash operations

Exchange of worn USD, Euro, RUB banknotes and USD banknotes issued before 1996
`

5%, if the Bank considers that the banknote is exchangeable

Exchange of worn AMD banknotes

Free of charge

Banknote calculation, authenticity checking and packing

10 AMD for each banknote, but not less than 1,000 AMD

Exchange of banknotes with 500 Euro face value with other banknotes or conversion to another currency (only at Komitas 54b branch)

Tatiff for cash operation (made with cash)

500 AMD at cash-desks for loan repayment not exceeding 50,000 AMD, and account replenishment transactions*
No fee is charged for loan repayment exceeding 50,000 AMD and for account replenishment transactions at cash-desks

* Tariff does not apply in the following cases

For repayment of foreign currency loans and account replenishment
For international transfers and transfers to budget
For full loan repayment
Payment terminals option

Updated as of 30.08.2024 14:25