Business

Card type

Payment

Currency

AMD, USD, EUR, RUR

Card tenor

5 year

Card extension

Free

Extension of attached, additional cards [15,16]

Free

Card account opening [2]

Free

Annual service fee [27]

20000 AMD

Annual service fee of attached, additional cards [16,17,30]

20000 AMD

Account statement provision [6]

Free

For up to 1 month transactions

1500 AMD

From 3 months to 1 year transactions

2500 AMD

For more than 1 year transactions

5000 AMD

Replacement of the card with a new one in case of PIN code damage and loss, extension of a new card in case of preterm reissue of the card

20000 AMD

Cash pay-out at ARMECONOMBANK OJSC encashment points (POS) terminals with AMD (ATM) only [19]

1% min 500 AMD

CASH-IN through ARMECONOMBANK OJSC ATMs (CASH-IN)

1% min 500 AMD

Cash pay-out at ARMECONOMBANK OJSC encashment points (POS terminals) with AMD and foreign currency

AMD -1% min 500 AMD
USD - 3%, min 500 AMD
EUR - 2%, min 500 AMD
RUR - 1%, min 500 AMD

Cash pay-out at encashment points of other Armenian banks (ATM, POS terminal)[10]

AMD -1% min 1000 AMD
USD - 3%, min 1000 AMD
EUR - 2%, min 1000AMD
RUR - 1%, min 1000 AMD

CASH-IN via ATMs of other Armenian banks (CASH-IN)

Cash pay-out from ARMECONOMBANK OJSC teller sector

AMD -1%, min 1000 AMD
USD - 3%, min 1000 AMD
EUR - 2%, min 1000AMD
RUR - As per daily interest rate

Cash pay-out via ARMECONOMBANK OJSC POS terminals with MasterCard cards issued by foreign banks

AMD 2%, min 3.000 AMD
USD 3%, min 3.000 AMD
EUR 2%, min 3.000 AMD
RUR 2%, min 2.000 AMD

Cash pay-out through ARMECONOMBANK OJSC POS terminals with MasterCard payment cards issued by other RA banks

AMD 1%, min 1.000 AMD
USD 3%, min 1.000 AMD
EUR 3%, min 1.000 AMD
RUR 1%, min 1.000 AMD

Cash payout abroad

2% min 3000 AMD

CASH-IN abroad, as well as within RA through ATMs of non ArCa member banks

2% min 3000 AMD

Implementation of non- cash transactions

FREE

Removing card from stop list

2000 AMD
through AEB Mobile application [25] free of charge

Number of daily encashment transactions

5 times

Increase of daily encashment transactions

1000 AMD

Total maximum amount of encashment transactions for a single day

AMD 1.500.000
USD, EUR 3.000
RUR 125.000

Total maximum amount of transactions during a single day

AMD 4.500.000
USD, EUR 9.000
RUR 375.000

Increase of daily encashment or total transactions limit

1000 AMD

Increase of encashment or total transactions limit during cards' all validation period

5000 AMD

Transfer to other ARMECONOMBANK OJSC account of the same customer

FREE

Card-to-card transfers to the Bank’s cards [7]

0,3%

Card-to-card transfers to the cards of “Armenian Card” system partner banks [7]

0,5%

Transfers from card account to the benefit of the customers of other Armenian banks

AMD - 500 AMD / through AEB Mobile application - free of charge
USD
EUR
RUR - 500 AMD / through AEB Mobile application - free of charge

Transfers to the benefit of ARMECONOMBANK OJSC other customers

AMD,USD,EUR,RUR - 500 AMD / through AEB Mobile application - free of charge

SMS [8]

20 AMD

Prompt extension of cards (reissue) [11]

5000 AMD

To put in international «Stop-List [12]

9000 AMD Weekly

Chargeback claim on the transactions executed through ATMs (for the customers of AEB)[13]

5000 AMD

For ArCa member banks service point’s governmental non cash payments including JACES payment for goods sold in auctions

200 AMD

Replenishment of the card account through ARMECONOMBANK OJSC Cash-in terminals located out of ARMECONOMBANK OJSC branches [21]

300 AMD

Replenishment of the card account through Cash-in terminals located in ARMECONOMBANK OJSC branches [21]

FREE

Maximum amount of encashment transactions via ARMECONOMBANK OJSC ATM's for a single transaction

400000 AMD

Acceptance of chargeback applications of transactions implemented by other banks’ cardholders at AEB encashment and/or service points

5000 AMD

Commission fee from the transactions implemented through InecoPay system

200 AMD

Replacing the status of the card with forced change of PIN code

500 AMD

Commission fee against the payments made through PAYMENT.AEB.AM website [31]

0.3%

Commission fee for concluding an CMTPL via INSURANCE.AEB.AM website

0.3%

2*The tariff for individuals with identification document of other countries/non-RA/ is AMD 50.000.
*1) For non-resident legal entities 2) non-resident private entrepreneurs 3) resident legal entities 50% and more of the structure of the participants/ shareholders of which are individuals with foreign /non RA/ ID or non-resident legal entities the tariff is AMD 70,000.
6 The statements on up to one month transactions can be provided free of charge until the last banking day of the following month inclusive
. 7 Internet transactions through www.arca.am website (card-to-card, procurement of codes of mobile phones’ prepaid cards, payment of utility bills, review of account statements, etc.) can be made only if the customer has presented to ARMECONOMBANK OJSC in written form his e-mail address and card password (which is not the PIN code).
8 At the request of the customer, ARMECONOMBANK OJSC sends an SMS notification to the mobile phone of the customer after each transaction made with the card. To activate this service, the customer should inform ARMECONOMBANK OJSC in written form his mobile phone number and the amount of transactions, exceeding which he/she wishes to receive an SMS notification, moreover the minimum threshold of amount for AMD cards shall be no less than AMD 100, for USD cards - USD 1, for EUR cards EUR 1 and for RUR cards RUR 50. After each transaction implemented on the internet via the card, the customer will receive an SMS notification containing password of ArCa 3-D Secure, MasterCard SecureCode or Verified by Visa systems if the website is secured by the mentioned systems. The subscribers of "Armentell'' CJSC and ''VivaCell - MTS'' mobile networks can use USSD informational and management system. 10 Except non ArCa member banks from which ATMs 1% min AMD 1,000 is charged.
11If the customer applied to the bank till 14:00 of that day, then the card can be extended within that day up to 17:00, in case of applying after 14.00, the card will be extended next day by 17.00. This applies only to ARMECONOMBANK OJSC's Yerevan-based branches.
12This tariff applies to the cases when the customer lost card transactions are done in lower limits.
13This tariff applies to the case when it appears that the deal is done and the amount actually received by the customer / payment made by the customer.
15 Additional card-for the same client operating card account attached other type of plastic card. Attached card-additional card given to the third part by costumer keeping same card account. 16 VISA CLASSIC PLUS is not attached to other cards. Other cards are not attached to VISA CLASSIC PLUS.
17 When using lounge network access of Priority Pass free card provided with Visa Infinite cards, AMD 15.000, defined by the latter, is charged (per person).
21 The minimum amount of transactions executed through Cash-in terminals located out of ARMECONOMBANK OJSC branches is AMD 100, maximum- AMD 100.000. The minimum amount of transactions executed through Cash-in terminals located in ARMECONOMBANK OJSC branches is AMD 100, maximum- AMD 200.000.
25 To get acquainted with the complete list of preferential tariffs of the transactions executed through AEB Mobile application, please visit the link.
27 In case of the acquisition of ARMECONOMBANK OJSC bonds in the amount of AMD 300.000 or equivalent foreign currency, the annual fee for the card will be free of charge. 30 No other cards are attached to ArCa social and ArCa pension cards.
commission fee of the transactions implemented through payment cards issued by RA banks certified by “Armenian Card” CJSC , with the exception of cards issued by “VTB Bank Armenia” CJSC, is 0,9%;
commission fee for the transactions executed with MasterCard, Visa cards issued by the banks not providing certification through Arca system is 2,5%
in case of cards issued by RA banks certified by Arca system, the commission fee is 0.9%;

ATTENTION:
•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.
•ATTENTION: INTERESTS ON YOUR DEPOSIT ARE CALCULATED BASED ON THE NOMINAL INTEREST RATE AND THE ANNUAL PERCENTAGE YIELD SHOWS THE INCOME YOU WOULD REALIZE, IF YOU WOULD HAVE ADDED THE RECEIVED DEPOSIT INTERESTS TO THE DEPOSIT. YOU WILL FIND THE ORDER OF CALCULATING THE ANNUAL PERCENTAGE YIELD ON www.aeb.am.
•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

Business

Your organization's card account is in safe hands.

MASTERCARD BUSINESS international card is for legal entities. Having a MASTERCARD BUSINESS card you can make any payment for your organization in non-cash way and ensure the availability of transaction receipt at the same time.