Consumer Rights
Dear customer,
Any person has the right to receive the information specified in Article 20, Part 3, Article 43, Part 2 of the Law of the Republic of Armenia on "Banks and Banking" regarding ARMECONOMBANK OJSC within three banking days after submitting the written application. copies. You can find the law at the following link: https://www.arlis.am/DocumentView.aspx?docid=164974
- Cost of delivery of the information by mail (weighting up to 150 grams) is AMD 1,140 (including VAT),
- Hard copies provided on the spot or delivery by e-mail is free of charge,
- To obtain information on ARMECONOMBANK OJSC, please call +374 8000 86-86 or +374 10 510-910 or visit ARMECONOMBANK Head Office or branches.
You can submit your applications, appeals and claims in the following ways:
- Hand-delivery to Head Office or branches,
- Mail to ARMECONOMBANK OJSC, 23/1 Amiryan, 0002, Yerevan,RA.
In order to receive information on complaints, the client can call the Head of the Legal Department of ARMECONOMBANK OJSC, Ombudsman Vrezh Jhangiryan, on +37410510910*9999#.
Should a customer receive no reply from the Bank to his/her complaint/claim within 10 working days or not be satisfied by the final answer to such complaint/claim, he/she shall be entitled to file a claim with the Financial System Mediator.
In accordance with the RA Law on the Financial System Mediator, an Individual, according to the Tax Code of the Republic of Armenia, a private entrepreneur considered a subject of micro-entrepreneurship, a legal entity has the opportunity to submit claims arising from a transaction concluded between a financial organization and themselves to the Financial System Mediator.
Financial System Mediator
Yerevan 0010, Armenia , “Elite Plaza” Business Center, 7th floor 15 Khorenatsi str.,
Tel. (+374 60) 70-11-11
Fax (+374 10) 58-24-21
Website: www.fsm.am
E-mail: info@fsm.am
ARMECONOMBANK OJSC refused to dispute the decisions of the Financial System Mediator, according to which the amount of property claim does not exceed AMD 100,000 (one hundred thousand).
Social and Environmental Management Executive:
Anna Yeghoyan
Email: anna.yeghoyan@aeb.am,
Phone: +374 10 510-910 (extension 5111),
The following privacy policy introduces the general provisions of processing, use and protection of personal data of the visitors and customers of "ARMECONOMBANK" OJSC (hereinafter Bank) official webpage: https://www.aeb.am/ (hereinafter Webpage).
The Bank highly values the security of personal data of Webpage users. The content of the site and this privacy policy are governed by the legislation of the Republic of Armenia. All the terms used on this website are to be interpreted as defined in Republic of Armenia Law “On protection of personal data” (hereinafter referred to as “the Law”). Under the law, any personal information that permits or may allow direct or indirect disclosure of the identity of the individual is considered to be a personal information.
The Bank reserves the right to modify any provision provided in this Privacy Policy without prior notifying the User. Users can be notified about any applicable modification either on the relevant section of the Webpage or via email.
Personal data collection
The Bank may collect the following Personal Information:
- Information that the User provides to the Bank at its own discretion while filling in any application on the Webpage, subscribing to the newsletters, registering on the Bank's online platform, communicating with the Bank through online chat (hereinafter Chat). User personal information is accessible to the Bank from the moment the User completes and sends an application or subscribes to the news.
- Information that the Bank acquires through third-party tools, such as information about the User browser or the device used to access the Webpage, visit information, geolocation information, and so on. Information on the IP addresses, browser and storing them in the "Cookies" section will automatically start when the user visits the Webpage.
Any information received by the Webpage shall be deemed to be personal information collected by the Webpage, and shall be used exclusively for the Bank's internal research and for the provision of more customer-oriented services.
Data usage methods
The Bank may use the information collected through registration, subscription, Contact Us forms or other third-party tools only for the following purposes:
- To improve customer service quality,
- For the quality of service that complies with the user's requirements,
- To send bulletins containing emails to investors,
- To respond to a request of the Customer:
- To reply to user requests, for example, when they have filled in an application form, contacted the Bank via Chat or other means;
- Provide information on the products and services of the Bank;
- To fulfil any of the obligations set forth in the agreement between the Bank and the User;
- To provide access to any Webpage interactive feature;
- To notify on the changes to information on the Webpage;
- To make the Webpage more user-friendly for devices accessed with;
- To analyse the Webpage and advertisements campaign usability
- In order to identify potential problems and misconceptions and provide them with appropriate solutions.
- In order to identify potential problems and misconceptions and provide them with appropriate solutions.
The information provided by the User is stored in the Database, which is automatically updated every time new information is received.
The Bank also uses the collected data for purposes of fulfilment of its obligations under its laws and international treaties, as well as for the identification of possible offences (including terrorism, money laundering and other financial crimes).
User data protection methods
User personal data is stored in secured networks and accessible only to a limited number of people who have specific access rights to these systems and are required to comply with the confidentiality of the information. In addition, any data that the User inputs on the Webpage is protected by Secure Socket Layer (SSL) technology. The Bank performs a number of security functions to ensure a secure visit to the Webpage.
"Cookie" usage
The Bank endeavours to provide via the Webpage the most accessible and user-friendly information. For this purpose, the Bank uses cookies that are small text files and are retained on a customer's computer or mobile device when visiting certain web pages. The Bank uses cookies for several purposes.
- To understand and remember the preferences for the future visit to the webpage,
- Webpage usage analysis, visitor counting and webpage upgrades;
- Integration of social networks with the webpage;
- To track, monitor and analyze advertisements related to the webpage;
- To improve the quality of services provided by the Bank.
If the User continues to use the Webpage, he automatically agrees to the collection of personal data through the webpage cookies for the aforementioned purposes. If needed, you can turn off cookies from the browser settings, but disconnection of cookies may result in technical difficulties and partial usage of the page.
Providing information to third parties
The Bank does not sell or otherwise transfer the User's personal data to third parties without the prior consent of the User. The Bank may disclose the information defined by the law for the purpose of protecting the rights of the Bank or other persons, property or security. The Bank does not allow any third party to conduct a User Behavior Review of the Webpage.
Individual implementing webpage hosting as well as other individuals who are supporting the webpage operation are not considered third parties, provided that those individuals are bound to maintain the confidentiality of that information.
The Bank may also disclose the information in the cases prescribed by law for the purpose of protecting the rights of the Bank or other persons, property or security. Non-personally identifiable information may be provided to other persons for marketing, advertising, or other purposes.
Third Party Tools
The website does not include or offer third-party products or services. The Bank uses a number of third-party services to provide the Webpage's normal operation.
Google Analytics
Google Analytics is Google's web analytics service that monitors sites' visits. The Bank has attached Google Analytics for Website User Visits and Site activity review. For more information about Google's privacy policy, please visit: https://policies.google.com/privacy.
Facebook Pixels
Facebook Pixel is a tool for tracking and analyzing Facebook converts. It is attached to the site and monitors the visit coming from Facebook social platform. The Bank has linked Facebook Pixel for the Webpage's Facebook ads, User visits, and Site activity review. For more information on Facebook's privacy policy please visit: https://www.facebook.com/policy.php page։
Users can visit the site anonymously. In this case, no personal information other than registered Cookies is collected.
Changes in this Policy
The Bank reserves the right to modify any provision expressly provided in this Privacy Policy without prior notice to the User. Any applicable modification will be posted to the user's attention in the relevant section and will be emailed to them.