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Tariffs

CONDITIONS
Commission charges for services not reflected in these rates, but provided by the VTB Bank (Azerbaijan) (hereinafter - the Bank) are withheld by arrangement of the parties. In cases when provision of services exceeds the standard amount of work and (or) there are incidental expenses, the Bank will charge additional commission fees from the client. The Bank has the right to change tariffs unilaterally with prior notification of customers. Notification of customers about the tariff changes is carried out through placing the new tariffs (amended provisions of the Tariff) in the Bank office and (or) on the official website of the Bank within 10 calendar days before the effective date of new rates. The Bank is not responsible for the misunderstanding, misinterpretation and distortion of the current tariffs. Claims as to the commissions charged by the Bank are submitted to the Bank in written form within 15 days from the date of the operation, otherwise the claims are considered to be invalid. If the Bank by mistake credited funds to the account of the client, the Bank has a right to write them off without acceptance. Commission fees, set out in these rates are written off without acceptance at the same time with the amount of account operations. Write-off of commission fees is carried out from the current account of the customer. When the currency exchange differs from the currency of the account for write-off of commission, withholding of commissions is carried out based on the exchange rate of the Central Bank of the Azerbaijan Republic for the currency the date of the operation. Amount of commission charges withheld for ongoing operations, rounded to the hundredths part in the following way: - if the thousandth part of the amount of commission is greater than or equal to 5, the amount is rounded off in the direction of increase; - if the thousandth part of the amount of commission is less than 5, the amount is rounded off in the direction of decrease. In the case of suspension of the operation at the request or order of the client, as well as for reasons not depending on the Bank, the charged commissions are not returned. If case of investigation on the transfer, it becomes clear that the above funds were not received to the account of the recipient, or were not included in time through no fault of the client, the appropriate commission fees are returned to the client based on the decision of the appropriate member of the Board. The present rates are approved by the Board of the Bank and enter into force on July 1, 2010.

CONDITIONS

Commission charges for services not reflected in these rates, but provided by the VTB Bank (Azerbaijan) (hereinafter - the Bank) are withheld by arrangement of the parties.
In cases when provision of services exceeds the standard amount of work and (or) there are incidental expenses, the Bank will charge additional commission fees from the client.
The Bank has the right to change tariffs unilaterally with prior notification of customers. Notification of customers about the tariff changes is carried out through placing the new tariffs (amended provisions of the Tariff) in the Bank office and (or) on the official website of the Bank within 10 calendar days before the effective date of new rates.
The Bank is not responsible for the misunderstanding, misinterpretation and distortion of the current tariffs.
Claims as to the commissions charged by the Bank are submitted to the Bank in written form within 15 days from the date of the operation, otherwise the claims are considered to be invalid.
If the Bank by mistake credited funds to the account of the client, the Bank has a right to write them off without acceptance.
Commission fees, set out in these rates are written off without acceptance at the same time with the amount of account operations.
Write-off of commission fees is carried out from the current account of the customer. When the currency exchange differs from the currency of the account for write-off of commission, withholding of commissions is carried out based on the exchange rate of the Central Bank of the Azerbaijan Republic for the currency the date of the operation.
Amount of commission charges withheld for ongoing operations, rounded to the hundredths part in the following way:
- if the thousandth part of the amount of commission is greater than or equal to 5, the amount is rounded off in the direction of increase;
- if the thousandth part of the amount of commission is less than 5, the amount is rounded off in the direction of decrease.
In the case of suspension of the operation at the request or order of the client, as well as for reasons not depending on the Bank, the charged commissions are not returned.
If case of investigation on the transfer, it becomes clear that the above funds were not received to the account of the recipient, or were not included in time through no fault of the client, the appropriate commission fees are returned to the client based on the decision of the appropriate member of the Board.
The present rates are approved by the Board of the Bank and enter into force on July 1, 2010.

Tariffs for individuals¹

VTB Bank (Azerbaijan)	current account and settlement services
	Operation’s currency
	AZN	USD	EUR	RUR
Bank account opening and maintenance
Account Opening	Free
Account’s minimum balance	Not provided
Account maintenance	Free
Account Closing	Free
Remittances and non-cash receipts ^4,5
Receipt to account	Free
Interbank transfer ⁶	Free
Transfer to account in another bank – within Azerbaijan	0.1 % min. 1 AZN; max. 50 AZN	0.2 % min. 20 AZN; max. 100 AZN	0.25 % min. 25 AZN; max. 100 AZN	0,1% min. 5 AZN max. 50 AZN
Transfer to account in VTB Group’s bank – beyond the Azerbaijan Republic		0.2 % min. 20 AZN; max. 250 AZN	0.2 % min. 20 AZN; max. 250 AZN	0,1% min. 5 AZN max.50 AZN
Transfer to account in another bank – beyond the Azerbaijan Republic		0.25 % min. 25 AZN; max. 250 AZN	0.25 % min. 25 AZN; max. 250 AZN	0,15% min. 10 AZN max.75 AZN
Urgent transfer⁷	10 AZN
Utilities payment ⁸	Free
Payment of mobile telephone services⁸	Free
Changing details of transfer (except currency and amount)	2 AZN	30 AZN		10 AZN
Investigation of transfer, cancellation of transfer	5 AZN	50 AZN		10 AZN
International transfers via urgent transfers systems	On the basis of fees of urgent transfers systems
Cash Operations ^9.1⁰ Receipts⁴
Receipt to account	Free			1 % ¹¹
Issuance of cash collected into Bank within the previous 12 months	Free
Issuance of cash	0.5 %	0.7 %	1 %	1 %
Conversion ^12,13
Non-cash conversion	0.3 % min. 3 AZN; max. 250 AZN
Cash conversion (exchange of cash)	Free

Other operations
Deposit operations
Opening a deposit account	Free
Deposit operations	In accordance with the terms and conditions approved by the Board of a deposit product
Credit operations
Opening of the loan account	Free
Commission for the provision of credit	As per agreement
Extension of loan agreement	0.4% min. 10 AZN; max. 500 AZN
Bank guarantees^17-25
Outgoing
Issuance a guarantee	0.15% min. 50 AZN; max. 500 AZN
Cancellation a guarantee	100 AZN
Amending a guarantee (except for increasing)	50 AZN (for each change)
Increasing a guarantee	0.15% min. 50 AZN; max. 500 AZN
Performance requirements	0.3% min. 25 AZN; max. 300 AZN
Inbox
Advising a guarantee and other messages under guarantees	50 AZN
Verification the authenticity of signatures and transmission requirements	70 AZN
Other operations
Issuance of a documentation on account ¹⁴	Free
Issuance of inquiry on account	10 AZN (in Azerbaijanian and Russian languages) 15 AZN (in other languages)
Issuance of archival documents¹⁵	5 AZN
Preparation of the payment order upon customer request	Free
Monthly sending electronic statements of account	Free

Notes to the Tariffs

¹Natural persons - persons who are not registered by a tax authority;

²Legal entities - legal entities (except for financial organizations) and natural persons registered by the a authority (including private entrepreneurs);

³In case if functional currency differs from the currency specified in the table, these operations are applied rates of operations in USD;

⁴The word "transfer" means a payment order, carried out both by the order of the client, and by order of the persons provided for by law;

⁵In the case of return of previously received uncertain amounts in foreign currency 10 AZN commission is charged. On return previously received uncertain amounts in national currency commission is not charged;

⁶“Inter-bank” transfer means non-cash transfer of funds on which the sender and the recipient of funds are clients of the Bank;

⁷Urgent transfer is carried out by the Bank within 30 minutes from the acceptance of the payment order. In this case the client put his/her signature and mark "urgent" in the upper right corner of the payment order. The commission for urgent transfer will be charged in addition to the rate for the transfer;

⁸Payment of public utilities charge and services of mobile phone services are carried performed based on the contract between the Bank and the relevant company;

⁹For cash payment of the amount of interests accrued for deposits from current accounts, commission is not charged;

¹⁰For cash payment of the amount deposits made earlier in cash, commission is not charged;

¹¹Conversion operations are conducted on the basis of the exchange rate set by the Bank;

¹²Operation currency during the conversion implies currency purchased by the client;

¹³Document on the account - an extract, payment order, advice, tax declaration and other documents;

¹⁴Archival documents - documents with 6 months (180 days) and more term;

¹⁵In case of the account is requested more than 2 document during a trading day, beginning with the third document 1 AZN commission is charged per document;

¹⁶Operations for settlements in the form of letters of credit (including the Stand-by LC) are carried out in accordance with the Uniform Customs and Practice for Documentary Credits (International Chamber of Commerce publication No. 600 (UCP 600) as amended in 2007 or any subsequent revisions);

¹⁷Operations for settlements in the form of guarantees are carried out in accordance with the Uniform Rules for guarantees (publication No. 458 (URDG 458) of the International Chamber of Commerce as amended in 1992 or any subsequent revisions);

¹⁸Operations for calculations in the form of documentary collection are carried out in accordance with the Uniform Rules for Collections (International Chamber of commerce Publication no. 522 (URC 522) as amended in 1995 or any subsequent revisions);

¹⁹If there is not enough money coverage for the operation by the client and the client is allocated a credit / credit line, then interests and other commission fees set for the credit / credit line are paid in addition to fees for documentary operations;

²⁰Commissions of other banks involved to the transaction of documentary operations are written off from the customer in addition to these tariffs, except for the cases when according to the conditions of the transaction, these costs are borne by the other party;

²¹If on making changes in documentary operations several changes are covered by one application of the client, commission fee will be charged according to the present tariffs as a single change;

²²Fees prescribed for guarantees apply also to standby letters of credit (Stand-by LC);

²³Operation postage is written off in the amount of actual postage costs of the Bank;

²⁴If on the terms of the operation (with regards to import letters of credit and outgoing guarantees) any costs are borne by the beneficiary, but it is impossible to write off these costs from him for any reason, then they are written off from the customer.