1. A savings account is an account where the client can top-up or withdraw part of deposited amount throughout the account service term.
2. The Bank opens a savings account for the client within 1 (one) business day upon receiving an account opening application-agreement from the client.
3. Savings accounts are available in Armenian drams, US dollars, euros and Russian rubles. Transactions are executed in savings account currency, except for currency exchange transactions and the Bank's fees, which are payable in Armenian drams. Currency conversion is subject to the rates of the Bank effective at each particular moment.
4. No minimum account balance is required at the time of savings account opening.
5. The following transactions may be performed via the savings account:
5.2. Account debiting
5.3. Account crediting
5.4. Currency exchange
6. For clients opening a savings account the Bank opens a current account in AMD.
7. The list of materials and information required for a savings bank account opening is available here.
8. Under the Republic of Armenia Law “On Combating Money Laundering and Terrorism Financing” we may request you to provide additional information and documents to conduct “Know your customer” due diligence, as well as ask you additional questions during verbal communication (if required so).
9. Agreements, covenants, cooperation or memberships of the Bank may have direct impact on opening and service of client accounts (for example, according to the agreement executed with the US under the Foreign Account Tax Compliance Act (FATCA) the financial institution may collect additional information to find out whether you are a US tax payer).
10. Savings Account Agreement is executed for an indefinite term and may be terminated in the following cases:
10.1. On the client’s initiative, or, in case of joint accounts, mutual consent of all the account holders, based on written application submitted to the Bank in paper form or via the channel specified by the client as the preferred means of communication. The account may be closed if there is no credit balance on account, no debt to the Bank and/or the account is not under lien. Any credit balance available on account at the time of closing will be withdrawn or transferred to your other accounts with Ameriabank or other banks, and the account with zero balance will be closed within 1 business day after submitting the account closing application.
10.2. On the Bank’s initiative,
10.2.1. based on clients and accounts database monitoring results
10.2.2. if there have been no cash flows on account during the most recent 12 months and account balance has been zero.
We will notify you about the account closure at least 5 days in advance by the communication channel specified by you in the Agreement (email, in person within the Bank premises, mail or any other channel agreed with the Bank).
11. Foreign exchange transactions based on your payment orders, including orders submitted via distance banking channels, are executed by the Bank at the exchange rates effective at the time of execution of transaction irrespective of when the Bank received your payment order. We may decline currency exchange or paper gold purchase orders we receive outside business hours or on weekends and public holidays.
12. Cash is deposited into current account at the time it is presented. Amounts received through wire transfers are deposited into account subject to availability of sufficient documentary proof from the correspondent bank.
Minimum account balance required to ensure the annual percentage yield and interest accrual procedure are presented below.
In order to be able to perform transactions you need to have a bank account in AMD with Ameriabank. In case of time deposits opening, purchase of bonds, safe deposit box renting or brokerage account opening, the respective account opening fees will not be applied.
 The fee is charged only for the first AMD account opening.
 The turnover of any bank account of the client (including card accounts) applies to all other accounts (this provision is applicable only in terms of charging the commissions). If the client has an active card only linked to a card account, no commission is charged. If the account is linked to a closed card, the commission is chargeable in accordance with the tariffs. Commissions are charged within two weeks following each calendar half-year.
If there was no activity on the account during the most recent 12 months, the account will be restricted for debiting within two weeks following each calendar quarter.
If there was no activity on the account during the most recent 12 months and the account balance is zero, the account will be closed within two weeks following each calendar half-year. This does not apply to the accounts that are required in the scope of other services provided to the client by the Bank.
Account maintenance fee shall not be charged (i) from the clients having only brokerage accounts and/or (ii) if a bank account has been opened and is maintained for provision of the safe deposit box service.
 The Bank sets currency exchange rates every business day, which remain effective during open hours of the Bank. The Bank is entitled to reject conversion applications received via distance banking systems on non-open hours (before 09.30 a.m. and after 5:00 p.m) and non-business days (including Saturdays).
 The fee is not charged for provision of home loan statements (i.e. loans for purchase/renovation/construction of residential real estate).
Requests for references should be submitted at least one banking day in advance.
 The fee is charged for the month when the statement was received, until the last business day of the month following such month.
The delivery is provided by regular mail.
 No commission for cash deposit in the following cases:
- Account top-up to pay commissions
- Account top-up along with other transactions handled by the teller (including payments to government and/or local authorities of Armenia, including notary offices, service agencies of state committee of real estate cadaster and other government bodies)
 1% fee shall be applied for depositing EUR 500 notes into the account. EUR 500 notes are accepted only the head office.
No commission for account crediting in case of making time deposits. If the deposit is terminated early within the first 30 days after the deposit start date, a fee will be charged at the rate applicable to cash deposits as of that date.