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   SERVICES   |   Bank accounts
Last update 28.07.2010  12:49
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ACCOUNTS OPENING
The Terms and Conditions

The list of documents

Ardshininvestbank CJSC can open current accounts for individuals and legal entities in Armenian drams and foreign currencies without any charge. Afterwards the Bank can perform complex service of accounts as well as all those settlement and cash-desk operations upon the customer's request, which are envisaged by the RA legal acts.. The customers can perform input and withdrawal operations of funds with their accounts. For opening an account the customer can send an application either by fax or e-mail and the required documents can be provided later either in person or by mail. Before opening an account we would ask you to familiarize yourself with the following conditions:

ACCOUNTS OPENING AND SERVICING RULES
1. The accounts in AMD (Armenian drams) and foreign currencies in Ardshininvestbank CJSC can be opened by resident and non resident individuals and legal entities.
2. The account is opened on the basis of the application submitted by the customer and relevant legal documents.
3. Upon submitting the relevant documents within two banking days the corresponding account will be opened and the account agreement will be prepared.
4. After opening the account the customer is provided with two copies of the signature identification form, which is to be filled in and signed by the entities authorized persons. These signatures are to be verified either by the of the customer’s supervisor body or the account manager of the Bank. The Bank accepts as well signature samples verified by the notary. Resident legal entities, while opening an account (including as well in the case of the new accounts opened by the same person in the bank) are to submit the filled in signature identification form with the signatures of the authorized entities to the territorial (marz) Tax body for registration. After the procedure of verification the signature identification form is to be submitted to the bank.
5. The enterprises that have been newly established but are not yet registered can open a temporary account for paying in their statutory funds. In order to open a temporary account it is necessary to submit a decision about the registration of the trade name of the enterprise. For turning the temporary account into a permanent one the customer should submit to the bank all required legal documents.
6. In case of transferring an account from an other bank the customer applies in written form to the branch of Ardshininvestbank CJSC or to the Department of Customer service and to that bank from where the account is to be transferred. After receiving the agreement the package of relevant legal documents (act) is to be transferred to the Ardshininvestbank CJSC.
7. In case of transferring accounts from Ardshininvestbank CJSC to other banks the customer is to make an application about closing his/her account and transferring the legal dosssier into a different bank. The application should bear the agreement of the recipient bank. After receiving the customer’s application the bank is to investigate the state of the account holder’s liabilities towards the bank and in case of not existence of such liabilites the bank agrees to close the account and to transfer the legal dossier. After this procedure the customer returns to the Ardshininvestbank CJSC the unused check books and presents the payment order for the clearance of the residual of his/her account. After closing the account, the customer can enter into an agreement with the bank about the transfer to another bank of the monetary funds that will continue to arrive to his/her account.
8. If the customer already has an account in the bank then while opening a new account he/she should submit only an application and the filled in form of signature identification registered in the local Tax body.
9. Individuals, residents and not residents, when opening accounts are to provide an application , the identification card or passport and the form of the signature identification.
10. Accounts connected with certain banking services, are opened on the basis of a relevant agreement. If the customer has no account in the bank, the credit account is opened on the basis of a credit agreement and the whole package of the legal documents required for opening such accounts.

SERVICING THE CUSTOMER ACCOUNTS
11. The customer's bank accounts servicing is regulated by the Legislation of RA, the regulating acts of the Central Bank of RA, the Bank account agreement and the this very rules.
12. Servicing the customer accounts is performed by the relevant divisions of the Ardshininvestbank CJSC and its branches (Division of Settlements of the Customer Service Department, the Accounting Department).
13. The operational day for servicing the bank account of the customer and fund transferring is determined by the Bank independently, about which the customer is to be informed in advance (in writing, orally or by electronic way).
14. The complex customer services within framework of account agreement, the settlement and cash transactions are accomplished within the balance on the account (accounts), including the fixed commissions.
15. In order to avoid possible mistakes in the payment orders, other official letters provided by the customers, the bank is practicing an identification security procedure, that can include special algorithms, passwords, codes and other means of identification. Every payment order submitted or sent by the customer to the Bank is to be verified through the security procedure. The payment order that has passed through the security procedure is considered to be valid and is to be serviced.
16. Payment documents that have been prepared or filled in not in accordance with the order stipulated by the legislation of RA and the bank account servicing agreement are not processed and are returned to the Customer. In case of rejection of the payment order the Bank informs the Customer about it (in writing, orally or through e-mail) within 1 (one) banking day.
17. The transactions accomplished by the customer serve the Bank as a basis for levying from his/her bank accounts without the customer's arrangement, the commission payments stipulated by the Bank Terms and Conditionss.
18. In case of inflow or outflow of currency, different from the account currency, exchange rates defined by the Bank are implemented. Activities by other currencies, different from the account currency, are not being fulfilled.
19. Customer's rights of using the account and funds on it may be restricted by a court decision based on statements, submitted by the tax authorities or authorities, responsible for enforcement of judicial decisions. Exaction of funds from the Customer's account without his order can be made by a court decision based on statements, submitted by the tax authorities and authorities, responsible for enforcement of judicial decisions.
20. The order of priority of the deposit, payment, settlement on reciprocal claims, freezing the means on the accounts or payment orders transactions are accomplished in accordance with the requirements of the legislation of RA.
21. On the next day of transaction accomplishment the customer receives an extract of his/her account accompanied by corresponding documents. As required the extract can be hand delivered, or send by mail or by e-mail.
22. In special cases stipulated by the legislation of RA or by the bank account agreement on debiting of the customer's account without his/her advance permission the customer is informed within three days (in writing, orally or thorough e-mail).
23. Input and withdrawal operations are performed within the same banking day.
24. The "Bank-customer" system was integrated in "Ardshininvestbank" CJSC for increasing the clients' service quality that corresponds the international standards. The high degree of data protection is inherent in this system and it lets the customer receive full information on the payments he made and on his own account details in a short time. "Bank-customer" system also allows to make payment transactions using modern communication methods and devices.
- The system offers secure login opportunity into the financial and information systems of the bank for customers via the Internet.
- Our customers will not have to visit the bank for making their operations.

Terms and Conditions of the "Bank-customer" system


CANCELLATION OF THE AGREEMENT AND CLOSING OF BANKING ACCOUNTS
- The Bank can make cancellation of an account Agreement, in cases that are specified in The Civil Code of RA or in the Agreement.
- In case of one-year money absence in the Customer account (accounts), by the initiation of the Bank, the contract may be terminated and closed at any time.
- Cancellation of the Bank Agreement is a base for closing the banking account of a Client.
- While closing the bank account the existing balance may be:
a) transferred to another account presented by the Customer,
b) reformulated as a demand and time deposit,
c) cashed.
- In case of cancellation of an account agreement the Client submits an application to a branch of the Bank.

The Bank doesn't close an account, if:
- the Client has obligations to the Bank,
- a banking account is overloaded with pledges and there isn't mortgagee's agreement on closing the account,
- the banking account of a client has limitations.

In above mentioned cases the Agreement on a banking account continues to act till the abolishment of circumstances that prevent account closing process.


According to the “Armenian Deposit Guarantee Fund”, Deposits for Individuals are compensated at the following scale:

- If the Depositor has funds in AMD only, the guaranteed deposit amount is AMD 4 million.
- If the Depositor has funds in foreign currency only, the guaranteed deposit amount is AMD 2 million.
- If the Depositor has funds both in AMD and in foreign currency, and deposit in AMD exceeds AMD 2 million, only deposit in AMD up to AMD 4 million is guaranteed.
- If the Depositor has funds both in AMD and in foreign currency, and deposit in AMD is less than AMD 2 million, the deposit in AMD is wholly guaranteed, and the  foreign currency deposit  at the amount of the difference between AMD 2 million and compensated deposit in AMD

ATTENTION   The interest rates for your current account are calculated on the basis of the nominal interest rate. The annual interest yield shows the income amount you will get if you reinvest the interest amount received from the deposit as an investment.

Compendium of bank deposits


 

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Dear Customers,
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ARDSHININVESTBANK CJSC 2003-2014
0015, 13, Gr. Lusavorich Str., Yerevan, Armenia
Telephone: (+37410) 54-04-04   Fax: (+37410) 56-74-86   E-mail: office@ashib.am