Current account

The current account is convenient for placement of temporary available funds, as well as for transfer of funds to/from abroad.

With current account you can withdraw cash at any time or send abroad money transferred or deposited to your account.

You can issue a power of attorney drawn in a notary to any individual giving him/her a full or partial authority to use your account.

To open an account you must present ID and fill in required forms.

Note: All bank transactions are performed upon submittal of personal ID's for Azerbaijan citizens and foreign passports for non-residents.  Driving licenses and official ID's (employee ID's) are not accepted as identity document.

Main conditions to open and use an account:

• Account currency – Azerbaijani manat / US dollar / euro
• Account opening – free of charge;
• Initial deposit – not required;
• Minimum balance – not required.

Money transfers abroad are carried out in accordance with the “Rules for conducting transactions by residents of the Republic of Azerbaijan in foreign currency, as well as transactions of non-residents in national and foreign currencies.”

Note: Bank holds the right to submit to the authorized state body documents containing information mentioned in inter-governmental agreements due to Common Reporting Standards that is applied in the frame of Multilateral agreement among authorized bodies regarding automatic information exchange about financial accounts.

• Self-certification questionnaire for determining tax residency (individual);
• If necessary, in accordance with the requirements of the Agreement: Forms W-8BEN (individual), W-9.

Note: In accordance with the Law of the Republic of Azerbaijan “On Combating the Legalization of Criminally Obtained Property and the Financing of Terrorism” and the “Rules on Verification Measures, Identification of Risk Factors, and Classification of Customer Profiles into Risk Groups When Applying New Technologies and Conducting Customer Due Diligence,” the Bank carries out customer due diligence measures to identify clients and their authorized representatives.
For this purpose, completion of a customer questionnaire is required.