Special Purpose Accounts | ardshinbank

Special Purpose Accounts

 

 SPECIAL ACCOUNT TARIFFS FOR PROPERTY DEVELOPERS 

General fees*

AMD

USD

EUR

RUR

Account opening (AMD)

50000

50000

50000

50000

Minimum account balance (in currency of the account)

0

0

0

0

Annual account service fee (AMD) 1

0

0

0

0

Account closing fee

       

-       At client’s request (AMD)

0

0

0

0

-       At the Bank's initiative(AMD)

2500

2500

2500

2500

Annual interest rate accrued to card account balance2  

10%

4%

2%

6%

Interest payment frequency

quarterly

Additional monthly fee for the non-working account (AMD)3

1000

1000

1000

1000

Conversion rate for the money transfer from the developer's special account (in AMD) to the developer's supplementary special account (in foreign currency)4

The conversion rate set by the Bank for the foreign currency minus 35% of the positive difference in sales and purchases

Conversion rate for the money transfer from the developer's supplementary special account (in foreign currency) to the developer's special account (AMD)4

The conversion rate set by the Bank for the foreign currency plus 35% of the positive difference in sales and purchases

Extra fees

       

SMS notification on account activity and  balance (AMD for each notification)5  

30

30

30

30

Provision of special account statements (AMD)5

       

-       backdated up to one month

0

0

0

0

-       backdated 2-12 years

2000

2000

2000

2000

-       backdated more than 12 years

3000

3000

3000

3000

Provision of references (AMD)5

       

Provision of standard references6

2000

2000

2000

2000

Provision of non-standard references6

5000

5000

5000

5000

Provision of audit responses

10000

10000

10000

10000

1 If the client has more than one account in foreign currency or in AMD, the service fee is charged only for one account in foreign currency or in AMD. The account service fee is charged once every 12 months.

2 Interest rates accrued to the account balance of non-resident legal entities include non-resident income tax (in cases prescribed by RA legislation).

3 If no transactions were made within 12 months, the commission is charged from all customer accounts. In the absence of a sufficient balance on the client's account, the bank charges a commission in the amount of the balance on the accounts. In cases where the balance on the account exceeds sufficient, starting from the 13th month and for each inactive period, the commission is charged for a non-working account.

4 Depositing and withdrawing funds in a special account are carried out only in AMD.

5 The tariffs include the value added tax (VAT).

6  Standard bank references are references to bank accounts, balances, deposit accounts and credit liabilities. Non-standard bank references are documents of all other formats.

The Bank may also set  individual tariffs for the developer's special account.

The Bank opens special accounts for the developers who are resident and non-resident legal entities or sole proprietors with construction permit in Armenia and have the right of ownership to the construction site.

The Bank opens a special account for developer at maximum 2 banking days upon receipt of all required documents.

For the developer’s special account, the Bank accepts applications, opens and serves the accounts only at the Head office.

For the non-resident developer's special account, the Bank accepts applications, opens and serves the accounts only at the Head office.

For the plot located at the same address, the Bank opens only one special account in AMD and supplementary one in foreign currency for the developer.

 

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