Arca Business

Arca Business

Any payment of the company in non-cash way
AMD 8,000


Is provided for a period of 5 years

In case of having POS or vPOS terminal, the card is provided at a 50% discounted tariff

Your company card account is in safe hands.

Validity period  
5 years 
Issuance of cards
Provision of attached, additional cards
Card account opening
Free [5]
Card account management
Annual service fee
AMD 8000 [27]
Annual service fee of an attached, additional card
AMD 8000 [27] 
Cash disbursement at ARMECONOMBANK OJSC encashment points(ATM)  in AMD only29 
AMD - 0.3%  
Cash disbursement at ARMECONOMBANK OJSC encashment points in AMD and foreign currency (POS terminal)29 
AMD - 0.3%
USD - 1%, min AMD 1000
EUR - 1%, min AMD 1000
RUR - 1%, min AMD 1000 
Cash depositing through ARMECONOMBANK OJSC ATMs (ATM CASH-IN)29 
ADM 1%
Cash disbursement from ARMECONOMBANK OJSC Cash Register 
AMD -1% min 1000 AMD
USD - 1%, min 1000 AMD  
EUR - 1%, min 1000AMD  
RUR - As per daily interest rate  
Cash disbursement with ArCa payment cards issued by other banks of RA with POS terminals of ARMECONOMBANK OJSC 
AMD -1% min 1000 AMD
USD - 2%, min 1000 AMD  
EUR - 1,5%, min 1000AMD  
RUR - 1% min 1000 AMD
Cash disbursement at encashment points (ATM, POS terminal) owned by other banks of RA
AMD -1%  
USD - 1%, min 1000 AMD  
EUR - 1%, min 1000AMD  
RUR - 1% min 1000 AMD
Cash input at encashment points (ATM, POS terminal) owned by other banks of RA 
Implementation of non-cash transactions  
Replacement of a card with a new one, provision of a new card in case of damage of the PIN code of the card and loss,  issuance of a new card in case of pre-term reissue of the card 
AMD 8000
Provision of  account  statement for up to 1 month transactions [9]
Provision of  account  statement from 1 to 3 months transactions 
 1.500 AMD
Provision of  account  statement from 3 month to 1 year transactions
 2.500 AMD
Provision of  account  statement for more than 1 year transactions
 5.000 AMD
Removing a card from  Stop-List (*for all ArCa type and currency cards, unblocking of a blocked card with the AEB Mobile application is free of charge)
AMD 1000*
Amount of encashment transactions per day 
10 times
 Increase in the number of withdrawal or total transactions per day
AMD 1000  
Maximum amount of total cash-out transactions allowed in one day
AMD 1,500.000
USD, EUR 3.000
RUR 120․000 
Increase in the limit of encashment or total transactions per day
AMD 1000 
Increase in the limit and the number of encashment or total transactions for entire period of validity of the card  
0.1% of the added limit, min. AMD 5,000, AMD 5,000 in case of number
Transfer to another acting account of the same client in ARMECONOMBANK OJSC
Card-to-card transfers to Bank’s cards  [10]  
card-to-card transfers to member banks of the "Armenian Card" system or non-member banks of the "Armenian Card"system and to banking cards working with the Armenian Card system through H2H channel [10]
Transfers from card account in favor of clients of other RA banks(*with AEB Mobile application-free of charge)  
AMD 500
USD, EUR The tariff provided for by point 3 of Section III of the Information Bulletin for Account opening, maintenance and other services is applied 
Transfers in favor of other clients of ARMECONOMBANK OJSC (*With AEB Mobile application-free for all ArCa type and currency cards)    
AMD 500 
Sending an SMS message [11] 
AMD 20  
Emergency issue (reissue) of cards [12] 
AMD 5000  
Application for appeal of transactions made at ATMs (for AEB cardholders) [13]  
AMD 5000
Appeal application for card transactions made with POS terminals (including virtual) at service points (for AEB cardholders) [13] 
AMD 10,000
Acceptance of applications for cash-out and/or charge-back of transactions made at AEB service points by cardholders of other banks, if the amount under appeal exceeds AMD 10.000
AMD 5000
Making payments for electronic state non-cash payments, including goods sold at auctions of the CESA, at the service points of member banks of the ArCa system
AMD 200
Replenishment of card account with Cash-In terminals located out of "ARMECONOMBANK" OJSC BRANCHES [14]
AMD 400
Replenishment of card account with Cash-In terminals located in "ARMECONOMBANK" OJSC BRANCHES [14]
Maximum amount of a single encashment transaction from "ARMECONOMBANK" OJSC ATMs
AMD 500,000
Commission fee from transaction made through InecoPay system
 AMD 200
Replacement of the status of the card with compulsory change of the PIN code
AMD 1000 
Commission fee charged for making payments through PAYMENT.AEB.AM website [15]
Commission fee charged for signing a CMTL agreement through INSURANCE.AEB.AM website [16]

5. 1) Non-resident legal entities,
    2) non-resident individual entrepreneurs,
    3) resident legal entities, whose participants (shareholders, equity holders) consist of more than 50 percent of individuals with identity documents from other countries (not of the Republic of Armenia) or non-residents are a legal person/persons,
    4) for individual entrepreneurs registered in the Republic of Armenia, but with an identity document (not of the Republic of Armenia)- AMD 70,000.
9. Issuance of statements can be provided free of charge for transactions completed up to one month till the last banking day of the month inclusive.
10. Transactions (card-to-card transfers, obtaining codes for mobile phone prepaid cards, utility payments, viewing account statements, etc.) can be carried out via Internet (through website), if the client has previously submitted his/her e-mail address in writing to ARMECONOMBANK OJSC. 
11. After each  transaction made with the card, at the customer's request, ARMECONOMBANK OJSC sends an SMS message to the customer's mobile phone. In order to activate the mentioned service, the client informs ARMECONOMBANK OJSC in writing of his/her mobile phone number and the amount, in case of exceeding which he /she wants to receive an SMS message, and the minimum threshold for AMD cards is not less than AMD 200,  USD 1 for USD cards , 1 EUR for Euro cards and 50 RF rubles for Russian Ruble cards.When making a transaction on the Internet, the client receives an SMS message containing the code of ArCa 3-D Secure, MasterCard Securecode, Verified by Visa  systems to his mobile phone if the website is secured by ArCa 3-D Secure, MasterCard SecureCode or Verified by Visa systems. Subscribers of RA mobile operators can use the USSD information and management system. The Bank sends a free SMS message to the client's mobile phone about the receipt of the pension amount.  In order to activate the mentioned service, the client informs ARMECONOMBANK OJSC in writing of his/her mobile phone number .
12  If the client applied to the bank before 14:00 of the given day, the card can be issued on the same day till 18:00, if applied after 14:00 till 18:00 of the next day.This point applies to only Yerevan branches of ARMECONOMBANK OJSC.
13  The present tariff is applied in case if it turns out that the transaction has been made by the client as a result of appeals process  or  as a result of the client violating the rules of using the card or by such consequences, in case of which the groundlessness of the appeal application is justified (proved).  
14  The minimum limit for transactions carried out with Cash-In terminals outside the Branch of ARMECONOMBANK OJSC is AMD 100, the maximum is AMD 100,000. The minimum limit for transactions performed with the Cash-In terminals located in the branch of ARMECONOMBANK OJSC is AMD 100, the maximum - AMD 200,000.
15  1) In the case of cards issued by other RA banks providing certification through the Arca system, except for cards issued by VTB Armenia Bank CJSC, the commission fee of the executed transaction is 0.9%;  2) In the case of MasterCard, Visa cards issued by banks that do not provide certification through the Arca system, the commission fee for payment card transactions is 2.5%.
16  1) In  case of cards issued by other RA banks providing certification through the Arca system, the commission fee is 0.9%;
      2) In  case of MasterCard, Visa type cards issued by banks  not providing certification through the Arca system, the commission fee is 2.1%.  
27  For customers having a cooperation agreement with the Bank for POS and/or vPOS terminals, the ArCa BUSINESS card type (including attached cards) are provided with a 50% discount condition on annual service fee.
29  If the payment card has been provided within the framework of the salary project (in AMD) with the aim of receiving a salary, then in case of then in case of cashing up to AMD 1,000,000  per day from the given card, the withdrawal tariff is set at 0%, and for the amount exceeding AMD 1,000,000  per day - 0.5%.

You can get acquainted with the previous version of the information bulletin of card account at the following link
•The card is issued upon the submission of the required documents by the Client to the Bank and is provided to the Customer within maximum 5 working days.

•Transactions in a currency different from that of the currency of the card account are calculated in the rates defined by the Bank for the sale and purchase of the appropriate currency as of the date of the transaction, due to which the Bank shall not bear any responsibility for the differences in the transaction amount.


•Interests accrued on the balances of the cards are capitalized monthly.  

•Interests are accrued daily on the balances of the cards, as well as on the added amount balance, and on the capitalized amounts

•The Bank is entitled to amend the size of interests paid for the monetary funds available on the card account, unless otherwise defined by the Agreement.

•There is no limit in the minimum initial amount for card opening.
• Interest paid against card accounts is subject to taxation with income tax under tax legislation of RA.

•In case of contract disputes the depositor shall apply to the Bank in written form and will receive the reply to such request within 10 Business days. In case of disagreement with reply, the depositor has the right to apply to the court or to the Financial System Mediator.

•To open a card account, the customer shall submit the below mentioned documents to the Bank:
- Identification document,
- Document containing public services number or reference about not-receiving public services number,
-On the purpose of due diligence of the customer envisaged by RA law on “On Combating Money Laundering and Terrorism Financing”, the bank may request additional documents or other information from the consumer based on <> principle, as well as ask the consumer additional questions during oral communication.

•In compliance with the agreement signed with USA, to find out if you are a USA tax payer, financial institutions may collect additional information about the agreements, contracts, cooperation, membership signed by financial institutions, which may have a direct impact on the consumers (e.g. foreign account tax compliance act (FATCA))

•With periodicity of at least 30 days the Bank provides the customer with the account statement, except the cases when no debiting or crediting to such account occurs within the reporting period.

•Should the negotiations fail to settle the disputes and disagreements between the Bank and the customer, the latter can apply to the court or the Financial System Mediator.

•The customer's right to manage the account and monetary funds available on it may be limited in the cases prescribed by the law - court decision, ban on the account based on the decision (hard copy or electronically) of the tax or other authorities of Compulsory Enforcement Service.

•Cash facilities available on the account may be written off without the customers consent in the cases prescribed by the law-  court decision, based on  the decision (hard copy or electronically) of the authorities of Compulsory Enforcement Service or in the cases stipulated by the Agreement signed by and between the Bank and the customer.

•Deposits are guaranteed pursuant to the Armenian Law on Guaranteeing the Recovery of Deposits of Individuals

•Deposits are guaranteed as follows:.
-In case of deposits in Armenian drams, the deposit is guaranteed for AMD 16 mln.
-In case of deposits in foreign currency, the deposit is guaranteed for AMD 7.0 mln
-In case of deposits both in Armenian drams and in foreign currency: if AMD deposit exceeds AMD 7.0 mln, only the AMD deposit is guaranteed for AMD 16 mln
-In case of deposits both in Armenian drams and in foreign currency:  if AMD deposit is smaller than AMD 7.0 mln, the AMD deposit is guaranteed in full and the foreign currency and  the  foreign currency  is guaranteed for the balance of AMD 7.0 mln and recovered AMD deposit
General Information
Card type 
Punct Payment 
Payment system
Types of Card transactions
PunctWith cards valid in the bank, the customer can carry out the following operations: withdrawal of money, implementation of non-cash payments in trade and service sectors, card-to-card transfers  
PunctPIN code shall be kept secret and it is not allowed to disclose or make it accessible to third parties. Do not keep PIN code in the wallet. Only the customer should know PIN code.
PunctAfter memorizing PIN code written in the envelope we recommend you to destroy the envelope.
PunctWhile making transaction and entering the wrong PIN code for three (3) times successively, the card will be blocked, it may be confiscated as well and the customer won’t be able to use the account until the latter applies to the Bank in written to unlock the card.
PunctWhile entering PIN code in the presence of third parties or cameras the customer should be careful not to disclose the PIN code to third parties. In the evening hours it is preferable to use ATMs located in well-lighted and public places to avoid card theft. The customer should not provide third parties with PIN code or let them make transactions instead of him/her.
PunctDo not enter the PIN code while making online purchases. It is necessary to keep all the documents and receipts connected with the internet transaction. Be sure that the sending of information about the card is encrypted. Check, whether he address of the website (URL) of the particular outlet starts with https:// index. At the same time, at the ridge of the browser should appear the image in visage of closed lock
PunctArCa 3-D Secure, MasterCard® SecureCode and Verified by Visa® (VbV) systems are available in Internet outlets to enhance the security of card transactions. These systems offer the modern level of security for the transactions made by ArCa, MasterCard and Visa cards, based on one-time passwords sent to cardholders through SMS messages and/or email submitted to the Bank for that purpose. Every time cardholder make a transaction in trade outlets, using the aforementioned systems, he/she will receive SMS message with a code for one use only, which should be immediately entered in the appropriate place, otherwise the transactions will be declined. Moreover, cardholder must not provide third parties with the code, and in case of the absence of mobile phone number or its change, cardholder should apply to the bank personally. In exceptional cases, if the bank permits, cardholder can notify the Bank by other means of communication based on the written application.
Obligations and Rights of the Bank 
The Bank is obliged to:
PunctSecure Card service according to the rules adopted by the appropriate payment and settlement service for the given card
PunctProvide the cardholder with the account statement in the manner and cases set by Terms.
PunctBlock the card after the notification of the card loss or theft by the Customer.
PunctKeep banking secrecy regarding the cardholder in compliance with RA Legislation and the agreement.
The Bank is eligible to:
PunctReject card transactions, if the requested amount exceeds the payment limit
PunctImpose restrictions on the funds available on the account in the manner and cases prescribed by RA legislation based on court, compulsory enforcement and tax authorities’ decisions.
PunctWithout prior notice charge the fees set by the Tariffs, offset the receivables, loans and other monetary liabilities of the Customer to the Bank.
Obligations and Rights of the Cardholder
The cardholder is obliged to:
PunctPay all fees and penalties related to card and card account service set by Tariffs to the Bank.
PunctImmediately notify the Bank about the loss of the card or in case the PIN code becomes available to third parties to block the card
PunctPresent identity card at the request of the servicing employee.
PunctNot to pass the card or attached cards or the PIN code to third parties.
PunctNotify the Bank about the changes in identity card, phone number, place of work, residence and other information previously provided to the Bank within three calendar days.
PunctPay the special (preferential) tariffs (envisaged for the cards which are issued and maintained for the purposes to receive salary, scholarships or to execute other kind of payments through companies cooperating with the Bank) agreed between the Bank and a partner company, unless otherwise agreed between them. In the cases when the Bank stops the cooperation with a company or the customer stops receiving card payments through the cooperating company the preferential tariffs must be suspended and the customers should pay in compliance with Bank’s tariffs.
The customer is eligible to:
PunctGet cash from ATMs and POS terminals, make non-cash payments or execute other transactions offered by the Bank within payment limits of the card account.
PunctGet more than one card, additional cards after submitting an application to the Bank and paying all the fees defined by Tariffs.
PunctOrder and receive a new card/attached card instead of expired and damaged ones.
Punct4 Transfer cash or non-cash money to the card account.
PunctReceive account statements in the manner, cases and periodicity prescribed by Terms.
Punct Receive short message (SMS) for each transaction made by card in case of using the service Appeal transaction executed through card account within the terms and order set by Terms.
PunctThe Bank should be liable to the customer in the manner and extend prescribed by RA legislation for the disclosure of the Customers information constituting bank secrecy by the breach of RA Legislation.
PunctThe Bank shall not be liable for the damages caused to the customer as a result of illegal use of the card, if the monetary funds have been withdrawn from the customer’s account by the identified Customer or the latter’s representative or upon the use of the Customer’s Identification Data, as well as in other cases prescribed by RA Legislation.
PunctThe Bank shall not be liable for the damages caused to the customer as a result of illegal use of the card, if the funds have been withdrawn from the Customer’s account due to the latter’s intentional or negligent actions, or in the cases when the Customer’s identification data has been known and used by third parties as a result of deception or other kind of frauds.
PunctThe Bank shall not be liable for the transactions executed by third parties as a result of card loss or theft, except the cases when monetary funds have been withdrawn from the account as a result of the card not being blocked by the Bank after the Customer’s notification on card loss or theft.։
Order and Conditions of Card blocking, unblocking 
PunctThe Bank blocks the card upon the Customer’s notification about Card loss/theft or after revealing a transaction made by third parties. 
PunctThe Bank may block the card in case of non-fulfillment of obligations by the Customer, as well as restrictions imposed on the account in compliance with RA Legislation and the Terms.
PunctThe Bank unblocks the card once all the grounds for blocking are being settled. The Bank unblocks the card within one banking day after the Customer applies to the bank for unblocking the card and makes all the payments defined by Tariffs for unblocking.
PunctThe card may be blocked by the Bank when suspicious card transactions have been implemented and the Bank could not contact the cardholder. Should the card transactions be made at lower limits in accordance with the rules defined by PSO, and should the Bank not be able to get in touch with the customer, the employees are eligible to enter these cards to international STOP LIST and charge commissions from the card account of the customer at tariffs and rates set by the Bank.
PunctShould the customer fail to pay annual service fee or other fees for more than 3 months, the Bank will close (block) the card, without informing the cardholder. Unblocking occurs only after the debts payment.
PunctThe Bank can refuse to unblock the card, if the card has been blocked because of the restrictions, set within the terms of the law, or the fee for unblocking has not been paid, or when unblocking of the card can cause financial losses, which can't be paid by the means available on the card.
PunctIn case of card loss or theft the customer must immediately inform the Bank by phone call (+37410510929or +37496012816), based on which the Bank blocks the card account to ensure the safety of monetary funds available on the account. The unblocking of the card is made upon the Customer’s application.
Card Transaction Appeal Order and Terms
PunctThe Customer may appeal transactions or a concrete transaction executed through the card by submitting an application or a complaint (hereinafter ‘’Complaint”) to the Bank in a defined manner.
PunctWhile accepting the Customer’s complaint a confirmation, a receipt or a copy of the complaint signed by the Bank’s employee accepting the complaint shall be provided to the Customer.
PunctThe application-complaint is being discussed by the Bank and the answer is provided within 10 working days after the receipt of the complaint.
PunctIf the customer submits an application-complaint within 15 days after being informed about the transaction to be appealed, the Bank may satisfy the Customer’s claim within 90 days after the receipt of the application-complaint if there are evidences that the transaction has been made without the identification of the Customer or the use of Customer’s Identification Data, the Customer is not at fault for the transaction, as well as the transaction has not been executed as a result of disclosure of the card, card data or Customer Identification data to third parties due to the Customer’s deliberate or negligent actions, or as a result of other such kind of frauds.
Confiscation of the card
PunctIn case of card theft it is recommended to inform law enforcement bodies as well and submit the evidence of applying to the mentioned body to the bank which will serve as a base to provide law enforcement bodies with the information on attempts of illegal use of the card upon the latters’ request.
Punct In case of confiscation of the card by an ATM, the customer shall apply to the Bank to get it back. The bank provides the card to the Customer within 10 business days.
Punct In case of loss/or theft of the card, the client immediately informs the ArCa processing center at 59-22-22 or the bank to block the card, and then applies to the bank to get a new card.
Punct The customer should be careful and not forget to take the money and the card from an ATM. In case of not taking the card, a signal may sound and a few seconds later the card will be swallowed by the ATM.
Order, Conditions and Terms of Card Re-issue
Punct The Bank reissues the card without the cardholder's additional application within 15 days before the expiry of the card unless:
Punct The Bank employees could not contact the cardholder.
Punct The cardholder has rejected the Bank's offer to reissue the card. The cardholder applied to the Bank beforehand (at least 30 days before the expiry of the card ) to close the bank account.
Punct No transactions has been made for 365 days preceding the end of the validity period of the card and the account balance is less than AMD 50,000 or its equivalence in foreign currency,
Punct The cardholder has outstanding card debts towards the Bank.
Card safety rules
Punct In case the card’s mandatory requisites envisage the presence of Client’s signature in the appropriate part of the card, the Customer must sign in the field of signature on the opposite side of the card while receiving it.
Punct The card should be kept in a safe place, away from other people, humidity, high and low temperature and strong magnetic field. Mechanical damages or excessive bending should be avoided.
Punct In case of noticing additional devices, wires, adhesive tapes and other suspicious means attached to the ATM, its keyboard or card reading devices, the Customer should refuse to execute transactions immediately notifying the Bank thereof. It is recommended to make card purchases only from well-known and reliable trade outlets. The Customer should not send his/her card details (card number, expiry date, etc.) by email to third parties. In trade outlets the Customer should show and give the card only to the cashier. While executing transaction the customer should keep the card within his/her eyeshot and should not allow the cashier take the card away from the service center. ։
Punct While making transactions via POS terminals in trade and service outlets the customer should be provided with two receipts, and by the cashier's request one of these receipts must be signed by the Customer. In some outlets transactions are made via manual printers and the necessary information is written down by a cashier.
Punct In this case the document should be made in 3 copies. Before signing the document, the customer must be sure that the amount of money from the purchase, received service or the value of cash, coincides with the amount indicated on the receipt. One should never sign the document, if the amount of money is not pointed on it.
Punct Be aware of a message received by E-mail address, which contains attached files or unknown website addresses. It can endanger the revelation of important and secret information by the help of computer virus or other infected software.
Punct Install the latest versions of anti-virus and anti-hacking programs in your computer and update their databases on time. It is also necessary to update other programs of your computer periodically.
Punct Never answer to the questions through e-mail, which contain information on cardholder personal details. If you are required to inform your bank code (don't confuse it with PIN code), passport number or other similar information by phone or by other means of communication, don't inform anything, unless you are sure in legality of the request.
Punct Be aware of false web site addresses bearing close resemblance to the web site or the email address of a corporate entity, which will likely mislead you.
Punct Do not close the browser window only. To exit the web site follow the appropriate instructions, otherwise someone else may have access to that site.
Punct Avoid making financial transactions in joint outlets, which offer services by internet (Internet-cafe, etc).They may have special software which can register cardholder's actions and reveal all the details typed through the keyboard of the computer.
Punct If the transaction is terminated by cardholder or some error occurs during termination, the cardholder must require to destroy the cashier's copy of document in his/her presence. Cardholder's copy must be kept, which will allow to dispute the particular transaction in short term, in case of deceit by cashier, and freeze cardholder's money related to the terminated transaction.
Punct If you return purchase, paid by card, require and keep the appropriate document from the outlet. The document must contain all the details on terminated transaction (card number, initial date of transaction, verification code, returned cash).
Procedure and conditions for closing the card account
Punct Return the card to the Bank within 5 business days in case of card termination. Should the cardholder fail to return the card with the application on the card account closure, the latter will suffer the risk of false transactions made by the card and must compensate the card in international Stop List by fees and tariffs set by the Bank’s Tariffs
Punct The account may be closed at any time upon the Customer’s request.
Punct The bank can close the account in the following cases: -when the monetary funds available on the customer’s account are less than the minimum amount set by Tariffs for the particular account and the amount is not recovered within a month after being notified by the Bank - in case of absence of transactions through the given account within a year,:
Punct In case of account closure the balance available on the account shall be given to the Client or, upon the customer’s instruction, transferred to the other account not later than within seven days after the receipt of Customer’s appropriate written application by the Bank.
Updated: 03/11/2023 17:12