Armenian Development Bank has the pleasure to see You among its clients and cordially offers You accounts opening and service, cash desk operations, conversion transactions in foreign currency, travel and bank cheques, as well as acceptance of utility bills payments.   

The documents necessary for account opening

For legal entities

1. foundation document*
2. registration certificate*
3. tax code of a taxpayer /if a resident/
4. orders on appointment of a head, chief accountant and/or other legal entities
5. passports of people having the right to sign
6. reference on participants
7. licence for licensed activity

For entrepreneurs

1. passport
2. social card (for RA citizens)
3. registration certificate
4. tax code of a taxpayer /if a resident/

For individuals

1. passport
2. social card (for RA citizens)

* Originals or copies with notarization

In the Bank clients are provided a signature identification card that people authorized by a client sign in the presence of a bank worker. The signature identification card is subject to verification in respective tax bodies in case of legal entities and entrepreneurs. Unless a client presents a properly registered card to the Bank he isn't entitled to dispose his bank account, receive funds in cash or make payments.             

Opening an account lasts totally 5-10 minutes. Armenian Development Bank doesn't require provision of minimum account balance from its clients.

Bank accounts are closed on behalf of a client's application. If when closing an account there are funds on Your account, You may get them in cash or transfer to other accounts (among them deposit accounts). If there has been inflow of funds in foreign currency, those funds are converted into another currency at exchange rates defined by and operating in the Bank at that moment. The bank can freeze Your bank account and restrict Your rights to dispose the funds on it as well as exact financial resources from the account without Your order based on a requisition made by bodies securing compulsory implementation of judicial acts with court ruling or by tax bodies. You will be informed of it in the Bank.

Individuals can carry out transfers in AMD and in foreign currency in the Bank without opening an account by submitting their ID.       

Utility bills payment

Armenian Development Bank offers a convenient and instant service through which You can make all Your utility bills payments and also charge Your telephone repaid cards both in cash and from Your bank account.

At  the beginning of each financial year bank accounts are being frozen if

a) the  balance of the account is zero and at the same time no transactions were made during the previous financial year.

b) during the previous  2 years no transactions were made with the bank account. In this case, the balances  of these account are transferred to the special account. From the January 1th of 2013 the interests will not be calculated against the balances of frozen accounts. Bank accounts will be unfrozen and the balance will be restored according to the customer's request

Attention: deposits are guaranteed in the Bank according to the RA law on "Guarantee of banking deposits' remuneration of physical persons". Guaranteed limits of deposits are the following:

a) only in case of a deposit in AMD - 4 mln AMD

b) only in case of a deposit in foreign currency - 2 mln AMD   

c) in case of deposits both in AMD (more than 2 mln) and in foreign currency - up to 4 mln AMD

d) in case of deposits both in AMD (less than 2 mln) and in foreign currency - deposit in AMD entirely and deposit in foreign currency up to 2 mln AMD.

Payment of interests is carried out on term basis. Interest rates paid by citizens - individuals are subject to taxation (income is 10%).