Bank Service Packages «Premium» for Individuals
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Package |
Elite1 |
Signature2 |
Synergy2 |
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Opening fee |
AMD 0 |
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Monthly service fee3 |
for residents |
AMD 5,000 |
AMD 8,000 |
AMD 10,000 |
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for non-residents |
AMD 15,000 |
AMD 25,000 |
AMD 30,000 |
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No monthly service fee |
Average daily account balance in pre-charging months 4 |
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for residents |
AMD 2,000,000 |
AMD 3,000,000 |
AMD 5,000,000 |
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for non-residents |
AMD 5,000,000 |
AMD 6,000,000 |
AMD 10,000,000 |
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Package revision fee |
Monthly service fee for the current package at the point of switching to a new package |
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1-month service fee when the package is closed before the first service fee |
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Services |
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1. |
Currency |
AMD, USD, EUR and RUB |
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Opening fee |
AMD 0 |
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Service fee |
AMD 0 |
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2. |
Annual interest vs positive balance on savings account |
AMD account |
balance ≤ AMD 50,000 > AMD 25 M - 0.1% (interest yield 0.1%) |
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balance > AMD 50,000 ≤ AMD 25 M - 4.25% (interest yield 4.32%) |
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USD account |
balance ≤ USD 100 > USD 50,000 - 0% (interest yield 0%) |
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Balance > USD 100 ≤ USD 50,000 - 0.5% (interest yield 0.5%) |
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EUR and RUB account |
0% (interest yield 0%) |
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3. |
Principal card |
Card type6 |
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a card of previous class may be provided |
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Currency |
AMD |
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Validity |
60 months |
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upon expiration, the card is automatically reissued for the overall effective period of the Package |
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Annual service fee |
AMD 0 |
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Cash withdrawal fee at ATMs of the Bank and other ArCa member banks7 |
Monthly cumulative |
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0% for up to |
0% for up to |
0% for up to |
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0.5% for beyond |
0.5% for beyond |
0.5% for beyond |
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Cash withdrawal fee at cash-out terminals (cash/POS terminals) of the Bank and other ArCa member banks (also cardless) |
0.5% |
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4. |
Linked card |
One-time issuance fee |
AMD 0 for 1 card |
AMD 0 for 2 cards |
AMD 0 for 3 cards |
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50% of standard annual service fee for the particular card type will be applied to each subsequent card |
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Cash withdrawal fee at ATMs of the Bank and other ArCa member banks |
Based on Principal card tariffs |
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5. |
Supplementary card |
Card type6 |
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a card of previous class may be provided |
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Validity |
60 months |
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upon expiration, the card is automatically reissued for the overall effective period of the Package |
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Currency |
credit |
AMD |
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debit |
AMD, USD or EUR |
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Annual service fee |
AMD 0 |
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Cash withdrawal fee at ATMs and cash-out terminals |
Based on standard tariffs per card type |
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6. |
Currency |
4 cards with AMD, USD, EUR or RUB |
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Service fee |
AMD 0 |
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7. |
Credit limit |
Max credit limit on principal card8 |
AMD 5,000,000 depending on customer’s credit rating |
AMD 10,000,000 depending on customer’s credit rating |
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Type of credit limit |
Revolving, no grace-period |
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Max credit limit on another card under the Package8 |
Depending on customer’s credit rating |
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Type of credit limit |
Revolving - with grace period - with payment grace period - no grace period - no grace period, decreasing limit |
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Validity of credit limit |
- the limit is valid for 1 year, extended for another year at expiry of each period but not more than 240 months - for credit line with decreasing limit – 60-120 months upon the failure by one of parties to inform the other party in writing about their intention to discontinue the limit not later than 1 month prior to expiry |
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Nominal annual rate vs used amount of credit limit8 |
16% |
15% |
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Effective annual interest rate |
17.40%
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16.25% |
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One-time issuance/increase fee |
0.3% of issued/increased limit |
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also applied upon re-issuance |
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8. |
SMS on card transactions |
AMD 0 min transaction amount – AMD 1,000, USD 2, EUR 2, RUB 20 |
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9. |
Issuance of statements, references and excerpts of accounts, deposits, loans and bonds to be submitted to various institutions |
AMD 0 |
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10. |
International travel insurance |
AMD 0 if executed by the Bank (max 30 days yearly) |
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11. |
Safe deposit box |
15% discount |
20% discount |
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Notes |
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1 The Package may be provided to individual customers of non-Premium segment, as well as to non-resident customers of non-Premium segment by the decision of the Bank. 2 The Package is provided to Premium customers of the Bank or customers qualified to be serviced in that segment. 3 The fee is charged from the 1st day of the month following the start of service. 4 The customer’s account balances are included in the average daily balance calculation with below shares - 100% - AMD demand deposit account balance - 30% - FX demand deposit balance - 10% - AMD deposit/bond account balance - 5% - FX deposit/bond account balance 5 The Package should include 1 AMD settlement account. 6 Mastercard World Elite, Visa Infinite, Visa Signature and Visa Platinum cards are issued only with a credit limit, except to non-resident customers. 7 The cash withdrawal fee for the Bank’s Visa and Mastercard digitized cards at ATMs of INECOBANK CJSC makes 2%, min AMD 2,500. 8 Upon payroll offer for individuals receiving salary through the Bank, based on the terms and conditions of cooperation with the employer or the terms and conditions of payroll cards offered by the Bank. |
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Links |
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For other tariffs and terms based on the Bank’s standard provisions, unless stated per service, please click the following links Credit and Savings Accounts https://conversebank.am/hy/open-account/ Visa Virtual` https://conversebank.am/hy/visa-virtual/ Visa Classic` https://conversebank.am/hy/visaclassic/ Visa Gold` https://conversebank.am/hy/visa-gold/ Visa Platinum` https://conversebank.am/hy/visa-platinum/ Visa Signature` https://conversebank.am/hy/visa-signature/ Visa Infinite՝ https://conversebank.am/hy/visa-infinite/ Mastercard Standard` https://conversebank.am/hy/mastercard-standard/ Mastercard Gold` https://conversebank.am/hy/mastercard-gold/ Mastercard World Elite` https://conversebank.am/hy/MastercardWorldElite/ |
Annual interest yield
The interest vs the cash on your account is calculated based on simple interest, and annual interest yield shows the income you would earn if the interests for the deposit are regularly re-deposited.
The annual interest yield of the deposit is calculated based on the formula set in the CBA Regulation 8/02 on Calculation of Annual Interest Yield of Bank Deposits
APY=(1+r/ո)ո-1,
where
• APY – annual percentage yield
• r – annual simple rate
• ո – frequency of interest capitalization in 1 year
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Note |
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The payment of interests is made in the first 5 banking days following the quarter. |
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10% income tax is charged for accrued interests. |
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The Bank may change the interest paid for demand deposits and bank accounts unless otherwise set in the agreement. |
Restrictions
1. One individual may be serviced only under one Package.
2. The liabilities for inclusion of the current service in the Package or the liabilities accrued before the revision of the Package are to be paid at that point and the collected fees are not refunded.
3. When revising the Package
3.1. the tariffs set under the new Package are applied to the same services since transition
3.2. in the absence of the current service in the new Package, the standard tariffs and terms are applied since transition, or may be closed based on the customer’s application subject to full repayment of the existing debt
4. The servicing of the Package may be terminated:
4.1. based on the customer’s application subject to full repayment of service fees and liabilities under the Package, after which the standard tariffs and terms set by the Bank will be applied per service
4.2. on the Bank’s initiative
4.2.1. upon breach of service rules and terms by the customer
4.2.2. upon failure to pay the annual service fee of the Package for 6 continuous months
4.2.3. In all aforementioned cases, the services offered under the Package are to be closed, or unless possible, the standard tariffs and terms of the Bank set for the particular service will be applied.
Communication with the Bank
You can communicate with Converse Bank CJSC either by mail or by email, whichever you prefer. Electronic correspondence is the most convenient, it is 24/7 accessible, is free of any risk of loss of paper-based information and ensures confidentiality.
Furthermore, the Bank will provide you with information about the changes in basic service terms and fees, communication method, legal acts having direct effect on your contractual rights, obligations or responsibilities and other circumstances, including transfer of data to the credit bureau throughout the effective period of the agreement by email or in any other manner you prefer (e.g. by mail, in person at the Bank, etc.).
List of required documents
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Application |
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ID document, Public Service Number or reference to the absence of PSN (not needed in the presence of ID card) |
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For credit card, also |
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Work reference on employer’s letterhead stating the position, seniority and net salary. The reference is valid for 20 calendar days (work reference is not needed if the customer has received salary from the Bank for at least 6 months before application); the copy of individual employment report may be required |
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Other income statements (if any) |
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For entrepreneurial activity - TIN - Registration certificate (reference from the state register), charter (if any) - ID documents of shareholders and director - Particular business licenses - Financial and tax statements verified by tax authorities - P&L records for the recent 6 months (if any) - Bank account turnover (if any) - SRC statement on tax liabilities - Business analysis report |
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Other documents may be required as appropriate |
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Note |
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For the purpose of the Customer’s due diligence in compliance with the RA Law on Combating Money Laundering and Financing of Terrorism, the Bank can demand additional documents or other information from the consumer and as well ask additional questions to the customer on “Know your customer” principle. |
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Based on the Foreign Account Tax Compliance Act (FATCA) Agreement concluded with the US Government, the Bank can collect additional information to clear out your status of a US taxpayer. |
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The Bank can revise and amend Tariffs and Rates by giving a notice to the customers in the manner set under the agreement: by posting a message on the Bank’s website (www.conversebank.am), by making the information available in the Bank’s premises, by post delivery and by other methods offered by the Bank and selected by the Customer, which shall be deemed the proper notification of the Customer. |
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When applying for a loan at up to AMD 15 M, the Bank will provide you with an individual sheet on essential terms of credit line (overdraft) stating the Basic Loan Terms, tariffs, your rights and obligations and the adverse consequences of your failure to execute the obligations in due time. The effective interest rate in the individual sheet may vary from the credit agreement due to the revision of the repayment schedule. The terms of the individual sheet are valid for 10 business days after you are informed about the positive loan decision. |
Where to apply for the banking service package
You may apply to the CSO of the Head Office and the branches of the Bank, other than AVIATSIA and SHIRAK branches, to get the Package.
Your Financial Adviser
“Your Financial Adviser” is an electronic system for search and comparison and selection of the most efficient option of services offered to individuals:
https://www.fininfo.am/vcharayin-qart:
Settlement of Disputes
Any dispute between the Customer and the Bank, unless settled through negotiations, is resolved in compliance with the RA laws judicially or through the Financial System Mediator.
Notice on Financial System Mediator
Please be advised that based on the RA Law on Financial System Mediator, the disputes relating to a property claim for up to AMD 10 M or equivalent FX amount arising with regard to the services rendered to you by Converse Bank CJSC can be settled through the Financial System Mediator.
Based on the agreement concluded between the Bank and the Financial System Mediator, the Bank abandons the right to dispute the resolutions of the Financial System Mediator only for property claims not surpassing AMD 250,000 (two hundred fifty thousand) or the equivalent FX, and the amount of the transaction not surpassing AMD 500,000 (five hundred thousand) or equivalent FX.
Address: 0010 Yerevan, Khorenatsi str. 15,
"Elite Plaza" business center, 7th floor
Email: [email protected]
Telephone: (+37460) 70-11-11
Fax: (+37410) 58-24-21
Contact with the Bank
For more details and information you can:
• Visit the Bank's website: https://www.conversebank.am
• Visit the Bank's Customer Service Office at the Head Office or any branch
• Call +374 10 511 211
WhatsApp: +374 95 511 211