Hot Line +37410 511 211

Pension Card


Pension Card

The Integrated Social Service of the RA Ministry of Labor and Social Affairs (hereinafter the Government Authority) provides the Bank with the payment list, including the details for opening of the social security account.


ArCa Classic / Visa Classic / Mastercard Standard / Woman`s Card




ArCa / Visa / Mastercard



Card expiry

120 months for ArCa Classic
60 months for Visa Classic / Mastercard Standard / Woman`s Card

Max period of printing and issuance

Subject to disclosure of all relevant documents:
5 business days at branches in Yerevan
10 business days at branches out of Yerevan
The card is activated in 1 day



Simple annual interest rate calculated on the positive balance of the card account

- The card is provided only for the recipients of pension, regular benefits and other cash payments.

- Only the regularly paid sums, and the interests accrued by the Bank against the positive cash balance on the account are credited to the bank account.



General Terms

Issuance fee


Service fee


Transactions at POS


Cash withdrawal at cash-out terminals and ATMs

0% at Converse Bank terminals

0.5% at other RA bank terminals

2%, min 2,500 AMD  at terminals in foreign countries

(not applicable for ArCa cards)

Cash withdrawal from card account without the card


Cash withdrawal limit

300,000 AMD daily
10 withdrawals daily

(can be changed based on the customer’s application)
500,000 AMD per withdrawal from ATM (cannot be changed)

C2C transfer for the Bank cardholders through Payment Portal, at cash desks and through Internet Bank and Mobile Bank of the Bank

To ArCa, Visa and MasterCard cards of the Bank and other RA banks


To Visa, MasterCard and MIR card of foreign banks

0.5%1 + (1%, min 500 AMD)2

C2C transfer through the Bank ATMs

For ArCa, Visa and MasterCard cards of the Bank


C2C transfer (other)3


Penalty for overlimit

0.13% of overlimit for each day of delay

Issuance of new card upon loss/theft/damage of card and change of card type

900 AMD
The tariff is applied starting from the second case

Issuance of PIN code duplicate

700 AMD
The tariff is applied starting from the second case

Issuance of a new card in the same day based on new card or card re-issuance application4

1,000 AMD


Ungrounded extension request5

1,000 AMD

SMS on cash-ins and cash-outs or USSD inquiry (including VAT)

20 AMD upon RA mobile operator
40 AMD upon foreign mobile operator

Card unblocking fee upon 3 incorrect entries of PIN code


Card suspension in the Bank’s certification system and posting on Stop-list (for 2 weeks)

15,000 AMD
(for international cards)

1 The fee is charged at the point of recording of the transaction.
2 The fee is added to the transaction amount and charged directly during the transaction.
3 The servicing bank can apply additional fees.
4 The card is issued only by Kilikia Branch without printing of the PIN code. The card is provided on the same banking day if the application is filed before 16:00 and on the next banking day if the application is filed after 16:00.
5 The customer’s request filed with the Bank is deemed ungrounded unless the information included therein corresponds to reality.

Every year, no later than the final business day of the 12th month from the previous visit to the Bank, the pensioner has to visit the Bank in person and sign a statement that he/she is in the Republic of Armenia. This requirement is deemed met by the beneficiary if the latter has visited the Bank in person, has been identified and has signed any other document.

PIN Code

The Personal Identification Number (PIN) is applied for the customer identification for certain transactions and is needed when withdrawing cash from ATM and executing transactions through POS terminals.
The card is issued and re-issued without printing of the PIN code, however the customer can select the physical provision of the PIN code. The PIN code of the card is printed in 1 copy and handed over to the cardholder in a sealed envelope, and unless provided physically, the customer can select a new code for the card through the ATM and activate the card (PIN code creation with OTP*).
The cardholder can prefer to change the PIN code through the ATM with the respective option, and has to enter the current PIN code.
If the cardholder has forgotten the PIN code, he/she can use an OTP to set a new PIN code or request the Bank to re-issue the card and the PIN code by paying the respective fee.
Upon 3 incorrect entries of the PIN code, the card is automatically blocked and/or can be confiscated.
The cardholder is responsible for the safekeeping of the PIN code.
No PIN code is entered for the transaction of up to AMD 20,000 or equivalent FX made in Armenia with contactless cards. A different amount can be applied in foreign countries based on the limits set by the payment systems for the particular country.
The cards are issued/re-issued with a PIN code for the customers whose mobile numbers are missing in the folder.

* One-time password (OTP) sent by SMS to the cardholder’s mobile number disclosed to the Bank in writing, by means of which the PIN code is created or changed and the card is activated. The PIN code can be created through the ATM of a member bank of the payment system servicing the card, provided that the particular ATM is equipped with the appropriate software solutions (for Converse Bank – through the ATMs at branches).

Card Issuance and Usage Rules

The card issuance and usage rules include the requirements for the use, protection, safekeeping, card transaction disputing and other essential requirement.
For the Rules, please click
The cardholder has to sign in the signature field on the reverse side. The absence of signature or its incompliance with the sample signature on the ID document is deemed a legal ground for rejection of servicing and confiscation of the card without refund.
When making payments at POS terminals or withdrawing cash with the card, the cardholder has to check the amount of transaction and sign the receipt. The signature may not be required if the cardholder uses the PIN code or any other identification card code set by the payment system rules, which is applied at the point of execution of the transaction, and/or if the transaction for up to AMD 20,000 is concluded contactless.

Security Rules

For security reasons, we recommend:

  • Promptly inform the Bank about the failure to get OTP in due time when creating the PIN code through ATM;
  • Select the most complex combination of numbers without using consecutive or duplicate numbers when setting a new PIN code;
  • Do not transfer the card and the PIN code to a third party;
  • Do not write the PIN code on the card;
  • Do not enter/disclose the PIN code in internet environment, since the PIN code is not required in internet environment or in the transactions without a card, neither is required by any payment system. If the PIN code is entered or disclosed, immediately stop the transaction, inform the Bank and block the card;
  • When using the card, enter the PIN code so that it is not visible to any third party and is not video recorded with any device;
  • Prior to any transaction with the card in internet environment, read the rules of shopping, shipment, cancellation and return of goods and the availability of contacts on the particular site;
  • When making transactions with the card in internet environment, use the popular and reliable sites having Secure Sockets Layer (SSL) certificate, Verified by Visa security system, MasterCard SecureCode and other security systems;
  • Do not use the ATMs, cash-out and POS terminals and devices that in your judgment are unreliable or distrustful, or in the presence of extra devices, cables, adhesive tapes and other suspicious items on the card reading device, keyboard or cash window of the ATM.

The Bank can send SMS to the cardholder on cash-ins and cash-outs with the card, thus preventing the unauthorized use of the card to the best extent possible. We recommend making sure that the transaction has been made with the knowledge, instruction or participation of you or your authorized representative.
The Bank implements 3D Secure system for the cardholders of the Bank – a one-time password for the security of online acceptance of e-payments, which the Bank provides to the cardholder by SMS on the mobile number or via email made known by the cardholder.

Upon loss/theft of card

To block the card, immediately report the loss/theft, unauthorized use or threat of unauthorized use of the card in one of the following ways,

1. Call the phone numbers stated on the card.
2. Call the Bank

  • 9:00-22:00: (+37410) 511-210, 511-211,
  • 24-hour: (+37410) 545-514

The card is blocked once the verbal request is made and the cardholder is identified.

3. In non-business days and hours of the Bank

call Armenian Card CJSC: (+37410) 592-222.
4. Send a message to [email protected] or fax (+37410) 511-212.
5. File a written request with any branch of the Bank.

The Bank disclaims the responsibility for the transactions made with the card before the notification of the Bank and can demand the cardholder to refund other payments of the Bank made to other payment systems.
Upon the discovery of the card after blocking, the cardholder has to inform the Bank thereon no later than in 1 banking day.

Transaction Disputing

In 1 year from recording the transaction in the statement (60 days in cases regulated by the payment system rules) the cardholder can file an appeal with the Bank in person or through the following link
We recommend immediately reporting the Bank upon detecting any inconsistency or unauthorized transaction.
The Bank can decline any appeals filed after the deadline. The cardholder has to keep all transaction documents supporting the appeal.
In response to the appeal, the Bank will in 90-day period either restore the transaction amount on the card account or send a written response to the cardholder justifying the impossibility of refund. In specific cases, subject to the due notification of the cardholder, the Bank may send the written response or refund the sum after the expiry of the 90-day deadline based on the rules of the payment system or due to other unforeseen circumstances.
Upon the impossibility of refund, the cardholder is not released from the obligations to the Bank.
Where the employee of the Bank discovers the fact of fraudulent transaction, or receives a report on the possible leakage of the card details from the payment systems, the card is re-issued free of charge.

Transaction Deadlines

The sum is deemed withdrawn from the card account on the day of recording the transaction. Depending on the type of POS, the transaction can be recorded in up to 30 calendar days. The transaction amount is withdrawn from the card directly, and is usually recorded on the card account and reflected in the card account statement:

  • on the next business day for transactions in ArCa system,
  • in 2-3 business days for transactions out of ArCa system.

The Bank disclaims the responsibility for the cardholder’s potential loss due to the amount made accessible with interruption in time or delay or activated with delay, in particular due to technical or software problems irrelevant of the Bank.
An overlimit can generate on the card due to the specific types of transactions (hotel booking, car rent, tourism and entertainment related transactions, etc.), the transaction deadlines and software problems of the servicing bank, chargebacks/cashbacks by the point of service, online transactions, the Bank’s commissions, foreign exchange transactions, etc.

Card Confiscation

The cards confiscated by the Bank ATMs are withdrawn from the ATM in 3 business days at most.

  • The Bank returns the confiscated cards to the cardholders in 2 days.
  • The Bank keeps the confiscated cards for 30 days, i.e. the cardholder has to visit the Bank in 30 days from the date of confiscation to take the card back.

Card Blocking and Account Freezing

To protect the interests of the cardholder, the Bank can unilaterally freeze the card account and block the card without giving a notice to the cardholder in the absence of turnover on the card account for 6 months and longer, which by no means restricts the Bank’s right to charge the appropriate amounts from the card account for the purpose of performance of the cardholder’s payment obligations to the Bank.

The Bank can block the card and freeze the card account, when:
1. The cardholder has overdue liabilities to the Bank,
2. The cardholder has failed to make the due payments in time,
3. The government authority has sent a blocking notice,
4. The Bank has detected a suspicious, fraudulent, illegal and other transactions due to monitoring.

The Bank can unblock the card and unfreeze the card account, when:
1. The cardholder repays the overdue liabilities,
2. The cardholder makes the due payments,
3. The government authority sends an unblocking notice,
4. The Bank receives a verbal or written confirmation about the transactions not being fraudulent with regard to the suspicious, fraudulent, illegal and other transactions detected by the Bank due to monitoring.

In specific cases, the Bank can place the card in the international blocking system in the presence of a real threat of unauthorized use of the card in a foreign country, in which case the cardholder has to pay the fee for placing the card in the international blocking system based on the tariffs, irrespective of the fact of blocking or closing of the card.
The Bank can block the card in case of several incorrect entries of the card details (expiry, CVV2/CVC2 code) in internet environment.

Card Re-issuance

Cards are re-issued in the following cases:
1. Physical damage: the card is physically replaced and the PIN code is changed (the other details remain unchanged); the cardholder hands over the damaged card to the Bank;
2. Loss/theft of the card, disclosure of card details to a third party: the card is physically replaced, and the card number, PIN and CVV2/CVC2 codes and the card expiry are changed (through the set expiry of the card);
3. Loss of PIN code: only the PIN code is changed or a new card is re-issued with a new PIN code;
4. Change of cardholder’s first or family names: the card is physically repalced and the PIN code is changed; the cardholder has to hand over the card to the Bank;
5. Change of card type: the card is physically replaced and the card type, number, PIN and CVV2/CVC2 codes and the card expiry are changed (through the set expiry of the card); the cardholder has to hand over the card to the Bank if possible (unless the card is lost);
6. At the expiry, the card is physically replaced, the card expiry and PIN code are changed and the cardholder hands over the old card to the Bank when getting the new card.

The pension debit cards are not re-issued by default and can be re-issued only based on the re-issuance application filed by pensioners in person by attaching the documents the Bank may demand.

The cards can be re-issued ahead of schedule within 3 months before expiry.

Closure of Card/Card Account

The card is closed

  • unless the card is re-issued at expiry,
  • based on the customer’s application.

The Bank stops servicing the card in 5 (five) banking days from the date of the cardholder’s written request for termination of the agreement.
In the presence of liabilities relating to the card, the card closure application can be accepted only subject to repayment of liabilities.
In the presence of a positive balance, the customer can dispose the same in 45 days after filing of the request. In case of emergence of liabilities in the aforementioned period, the customer has to repay the overlimit in 5 banking days.
When the Bank stops servicing the card, the cardholder continues to bear obligation and responsibility for the payment of transactions that have been made before the servicing of the card was stopped and/or before the card was handed over to the Bank (destroyed).

Unless the balance of the closed card is used in 3 months, AMD 1,000 is charged quarterly, and if the balance is less than AMD 1,000/equivalent FX, the total balance is charged and the account is closed.
AMD 15,000 is charged monthly starting from the 2nd year of closure of the card. This tariff is not applied if the customer has executed transactions through any of their accounts or if the customer has a deposit with or financing from the Bank, nor does it cover the bank accounts banned in legally defined order. Where the balance on the account with no transactions in 2 years and longer is less than AMD 15,000/equivalent FX, the total balance is charged and the account is closed.


The Bank disclaims the responsibility for:

1. The failure to get 3D Secure password for technical reasons or reasons irrelevant of the Bank and the failure of the transaction due to the same;
2. The failure to service the card at any ATM, cash-in or POS terminal (also registered in internet environment) or the direct or indirect loss of the cardholder due to their malfunction;
3. The cardholder’s loss due to the card transactions that have been executed:

  • with a chip card by entering the PIN code
  • by physical reading of magnetic tape or chip, or entering the CVV2/CVC2 code and online certification by the issuing bank (even if the signature on the transaction receipt differs from the actual signature of the cardholder),
  • offline, before the return of the card to the Bank by the customer and/or while the card was placed in the international blocking system,
  • for 3D Secure online transactions, and transactions that have been made in 3D Secure sites but have not been 3D Secure certified.

The cardholder is not responsible for offline transactions that have been concluded while the card was placed in the international blocking systme.

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.

Issuance of statements, references and other information (including VAT)

  • Issuance of statement: 0
  • Statemtents to be disclosed to various organizations

- For accounts opened in 1 month*: AMD 5,000
- For accounts opened earlier: AMD 3,000

  • References to account/account balance and/or turnover based on online application in the Bank’s website: AMD 3,000
  • Statements/references to transactions
  • For up to 1 month old: AMD 3,000
  • For longer than 1 month old: AMD 5,000
  • Copies of documents, transaction grounds (per document)

- For up to 1 month old: AMD 1,800
- For up to 1 year old: AMD 3,000
- For longer than 1 year old: AMD 12,000

Other service tariffs (VAT included))

• Post delivery of statements and other documents
 In RA and Artsakh: 0
 Cross-border
- In cases under the law and the agreement: Delivery service provider’s tariff
- In other cases: Delivery service provider’s tariff + AMD 1,500
• Through outsourced delivery service provider
- In RA and Artsakh: AMD 3,000
- International: Delivery service provider’s tariff + AMD 3,000

* In the presence of several accounts, the date of opening of the earliest account is considered, irrespective of being included in the reference.

Remote communication

The Bank also offers servicing through remote communication:

Converse Internet Bank / Converse Mobile -
SMS – Converse / USSD -

ATMs and Cash-out terminals

ATM network:
List of branches:


Required documents


Pension debit card application


ID document, Public Services Number or a reference to the absence of PSN (not required if ID card is disclosed)


FATCA declaration



2% commission set by the Bank is applied to currency exchange when making transactions in a currency other than the card account currency at cash-out and POS terminals in a foreign country.  Exceptions include the transactions made in USD and EUR for Visa and in USD for MasterCard cards.

Various exchange rates may be applied at the point of certification and actual recording of a transaction made in a currency other than the card account currency.  The exchange rates set by ArCa/Visa/MasterCard payment systems are applied at the point of certification, and the USD exchange rate set by the Bank for the end of the banking day preceding the day of recording the transaction is applied at the point of recording of the transaction.  The Bank disclaims the responsibility for the currency and other risks relating to the difference in exchange rates.

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.

Based on the Foreign Account Tax Compliance Act (FATCA) Agreement concluded with the USA Government, the Bank can collect additional information to clear out your status of a US taxpayer.

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 (, 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.

The sums are withdrawn from the bank account exclusively based on the instruction of the government authority and the customer.

The chargeback of funds from the pension account can be made without the customer’s consent based on the order (demand) of the Government Authority.

The customer’s right to dispose the card account or the funds available on the same can be restricted by the court order based on the application of the Enforcement Service, tax authorities or other competent authorities.

The funds on the account can be confiscated without the customer’s instruction by the court order based on the application of the Enforcement Service and tax authorities.  The confiscated funds are reflected in the customer’s bank account statements that are issued to the customer in the order agreed between the Bank and the customer.

When concluding the agreement, the Bank will provide you with the Card Issuance and Usage Rules that include the minimum requirements for the secure use of the card.

Place of delivery

The card is delivered at the Head Office and branches of the Bank.

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:

Notice on Deposit Guarantee Terms and Procedure

Your deposit is guaranteed by the Deposit Guarantee Fund (hereunder the Fund).

The currency structure of the deposit

Maximum amount of deposit guarantee

If you have only an AMD-denominated deposit in the same bank

16 million AMD

If you have only a foreign currency-denominated deposit in the same bank

7 million AMD

If you have both AMD-denominated and foreign currency-denominated deposit in the same bank

If the AMD-denominated deposit is more than 7 million AMD

16 million AMD ( only AMD deposit is guaranteed )

If the AMD-denominated deposit is less than 7 million AMD

7 million AMD ( AMD- denominated deposit ­­is guaranteed in full, and the foreign currency-denominated deposit is guaranteed in the amount of difference between 7 million AMD and the difference between the amount of deposits subject to refund)

Location: ELITE PLAZA Business Center, 15 Khorentasi, 0010 Yerevan, Armenia.
Tel. +374 10 583514


Settlement of Disputes

Any dispute between the Customer and the Bank, unless settled through negotiations, is resolved in compliance with the RA laws both judicially and 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.

Location: 15 M. Khorenatsi, 0010 Yerevan
Floor 7, Elite Plaza business Center
Email [email protected]
Tel. (+37460) 70-11-11
Fax (+37410) 58-24-21

Contact the Bank

For additional information, please

  • Visit the Bank’s website
  • Visit the Customer Service Office at the Head Office or any branch of the Bank
  • Call (+374 10) 511 211

Viber՝ +374 95 511 211
Skype՝ conversebank-callcenter

Updated on 19.03.2024