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Other special accounts

Notary deposit accounts

Notary deposit accounts are opened to accept funds transferred to that account, to make transfers from the account, to provide the relevant amounts, and perform other operations with the account, as instructed by the notary.
A notary deposit account may be used only for cash operations with a notary deposit account permitted by the law.

In case of opening notary deposit accounts, it is necessary to submit the following documents:

  1.  Valid document evidencing the fact of holding a notary position (certificate, reference, etc.).
  2.  On the letterheads provided by the Bank:
  •  Account opening application for private individuals/legal entities and private entrepreneurs

Opening and maintenance of special constructor’s accounts

Constructor’s special account is the banking account, to which a purchaser makes prepayments to the constructor within the framework of the contract on the right of purchase of real estate in a building under construction.

In case of opening of special constructor’s accounts, it is necessary to submit originals of the following documents:

  1.  Agreement on purchase and sale of real estate.
  2.  Agreement on pledge of funds between the constructor and purchaser.
  3.  Documents evidencing completion of construction of the building or transfer of the ownership right or obtaining permission for maintenance of the building, if the funds are to be provided to the constructor before completion of the transaction.
  4.  Other documents, in the cases specified by the conditions of the transaction.

On the letterheads provided by the Bank:

  •  Account opening application for private individuals/legal entities and private entrepreneurs

Opening and maintenance of nominee accounts

A nominee account can only be used for the provision of investment services by a person rendering investment services or an investment fund manager (custodian) or for performance of operations connected with management (custody) of investment funds.

One-off payment accounts

A contract on one-off payments is the contract signed between an authorized state body of the Government of the Republic of Armenia and the Bank, according to which the Bank undertakes to open a bank account (one-time payment account) on the basis of the data necessary for opening a bank account and provided by the authorized state body of the Government of the Republic of Armenia, and credit to that account only the one-off allowances and other monetary payments (including those provided for a definite time period), paid from the state budget of the Republic of Armenia within the framework of social security programs.

Social security accounts

A contract on a social security account is the contract signed between an authorized state body of the Government of the Republic of Armenia and the Bank, according to which the Bank undertakes to open a bank account (social security account) on the basis of the data necessary for opening a bank account and provided by the authorized state body of the Government of the Republic of Armenia, and credit to that account only the funds paid from the state budget of the Republic of Armenia within the framework of social security programs, intended for payment of pensions and regular (also provided for a definite or indefinite time period) allowances and other monetary payments. A person acquires the rights of a customer (holder of a social security account) from the moment of crediting funds to that account.