Hot Line +37410 511 211

Transfer Card

Transfer card

General conditions

"Converse Bank" CJSC (hereinafter referred to as the Bank) can accrue the funds received by the holders of its "Transfer" debit card (hereinafter referred to as the Card) through fast transfer systems (hereinafter referred to as the Transfer) to the cardholders' card accounts, based on the relevant application (hereinafter referred to as the Application).

The application is accepted:

  • by phone 010 511 292,
  • By submitting an application through AS-Internet Banking system,
  • by e-mail [email protected]
  • via text message sent to conversebank-transfer Skype user
  • via text message sent to Viber or WhatsApp +374 94 511 292 user.

The application must contain:

  1. surname, first name, patronymic of the customer, as mentioned in the identity document,
  2. passport serial number or identification card number;
  3. customer's bank password,
  4. Name of fast transfer system
  5. the password to receive the transfer,
  6. Amount transferred and the currency used,
  7. 16 digits of the Card belonging to the customer (without spaces) to which the customer wants to deposit the transfer.

Application processing deadlines

  • The days for application review are Monday to Friday, except for holidays (in case of shifts in working days, another day of the week may apply), working hours are 9:00 - 18:00, and on the eve of holidays - 9:00 - 17:00.
  • Applications received after 16:00 will be considered on the next review day.

Currency exchange

  • In case of any difference between the transfer currency and that of the Card Account indicated in the application, the currency is exchanged at the time of accrual, based on the exchange rates of the Bank effective at the time of accrual.
  • In case of exchanging foreign currency into AMD, the following exchange rates are applied: In case of converting USD or Euro, current cash purchase rate + 1 AMD, in case of converting Russian rubles, current non-cash purchase rate
  • Within the framework of the promotion campaigns, the Bank may set other exchange rates.

Cases of application rejection

  • In case of absence of any of the required data, the Application will be rejected.
  • If the data entered in the application is incorrect, the application will be rejected.

Restrictions

  • MoneyGram transfers are not credited on the basis of Applications and are provided by the Bank only at the Bank Head Office and branches.
  • Applications via Skype, Viber and WhatsApp systems are accepted exclusively through text messa

Transfer card

 

General conditions

Provision fee

 0 AMD

Card account service fee 1

 2,500 AMD

Transactions at retail outlets

0 AMD

Encashment commission at cash points and ATMs

Converse Bank - 0 AMD

other banks within ArCa system 1%

Outside ArCa system - 2%, minimum - 2,500 AMD

Cash withdrawal limit and quantity

 

Can be modified based on to the customer's application

500,000 AMD, 1,500 USD,
1,000 Euros, 50,000 Russian rubles per day
One transaction from an ATM 10 times a day:
500,000 AMD (not subject to change)

Cash disbursement from the card account without presenting the card

1%

Card-to-card transfer by the Bank's Payment Portal system and card-to- card transfers by Bank cardholders at the Bank's cash desks, Internet and Mobile banking systems

To ArCa, Visa and Mastercard cards of ArCa member banks

0.5%2

To Visa and Mastercard cards of non-ArCa member banks

0.5% 2 + (1%, minimum AMD 500) 3

Card to card transfer through the bank's ATMs

For ArCa, Visa and Mastercard cards of the bank

0.5%2

Card to card (by another method) transfers 4

0.5%2

Penalties applicable to amounts exceeding the payment threshold

0.13% of the excess amount for each day of default

Providing a new card and PIN code for lost / stolen / damaged card, card type change

 2,000 AMD

In case new card application or re-issuance of existing card, card and PIN-code issuance during the same banking day

 5,000 AMD

Cash withdrawal from card account in case of card loss abroad

5% of the amount

Request for unreasonable reversal 5

5,000 AMD

Sending SMS notifications (including VAT ) in response to inbound and outbound transactions on a Card or in response to USSD request

RA mobile operator - 20 AMD
Foreign mobile operator - 40 AMD

Card unlocking fee - in case of 3 times incorrect entry of PIN code

500 AMD 

Suspension of the card in the Bank validation system and placement in the Stop-list (for two weeks)

15,000 AMD

Provision of medical insurance during iternational trips

According to the tariffs of insurance companies

1 The service fee is charged once at the time of card issuance, for the entire period of card validity. In case of early termination of the contract, the service charge can not be refunded.
2 The commission will be charged at the time of transaction recording.
3 The commission fee will be added to the transaction amount and will be charged immediately during the transaction.
4Additional fees may also apply by the servicing bank.
5 The application submitted by the customer to the Bank is considered to be unreasonable, if the information contained in it does not correspond to the reality.
 

Card name

Visa Classic / Mastercard Standard

Card type

Debit

System

Visa, Master

Card validity

60 months

Currency

AMD, USD, EUR, RUB

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

AMD - 3%

Other currencies - 0:

Annual interest yield

AMD - 3.03%

Other currencies - 0

Maximum preparation and delivery time

In case of submission of all necessary documents - 5 working days

The card is activated within 1 day

Restrictions

It is forbidden to deposit money from other accounts or cash amounts

 * Interest is calculated on the last positive balance of the day and paid quarterly within 5 / five banking days after the end of each quarter.

   General terms and conditions

Annual interest yield

The interest on your account is calculated on the basis of a simple interest rate, and the annual percentage yield shows the amount of income you would receive if the interest on the deposit was regularly reinvested in the form of a deposit.
The calculating the annual percentage yield on the deposit is made on the basis of the formula provided by the Central Bank of the Republic of Armenia Regulation 8/02 "Calculation of the annual percentage yield of bank deposits".

APY=(1+r/ո)ո-1


where:

  • APY - annual percentage yield
  • r - simple annual interest rate
  • n - frequency of capitalization of interest per year

Attention

Income tax is collected on interest payable. The income tax for deposits placed in the territory of the Republic of Armenia will be calculated at the rate of 10%, and in the territory of the Republic of Artsakh - at the rate of 5%.

PIN - code

Personal Identification Number (PIN), which is used to identify the cardholder in case of certain operations/transactions.
An envelope is provided with the card, which contains the PIN-code of the card, and is necessary when receiving cash from ATMs and when carrying out transactions / operations through POS-terminals. The card PIN-code is printed in one copy and is provided to the cardholder in a closed envelope. If you enter the wrong PIN three times in a row, the card is automatically blocked and / or can be confiscated. The cardholder can change the PIN code at his / her own discretion through the ATM. To change the PIN code, you need to enter the current PIN code and the new PIN code.
The customer can choose whether the PIN code should be provided in person or not. If the PIN code is not provided in-person, the customer will be able to set a new password for the card through the ATM and activate the card.
The cardholder is responsible for safekeeping the card's PIN-code.
For contact-free cards, it is not required to enter a PIN code in case of maximum 3 transactions per day in the amount of up to 10,000 AMD or equivalent in foreign currency.

Rules for issuing and using the card

The rules for issuing and using the card include provisions related to the use, maintenance, security, appeal of card transactions and other important provisions.
The rules are available at the following link: https://conversebank.am/en/cards/

Upon receipt of the card, it is necessary to sign in the signature field of the relevant party. The absence or non-compliance of the signature with the identity document containing the signature is a legal basis for refusing to service the card and confiscating it without any compensation.
In case of making a payment with the card at sales and service points or receiving cash at the cash points, it is necessary to sign the slip (receipt) by checking the transaction / operation amount. A signature may not be required if a PIN code or other identifying code provided by the card payment system rules is used, which is entered (applied) at the time of the transaction / operation.

Safety rules

For security reasons, it is recommended:

  • not to provide the card or its PIN-password to other persons,
  • not to write the PIN code on the card,
  • not to enter / disclose the PIN code in the Internet environment, as in case of transactions in the Internet environment or without presenting a card, entering the PIN code is not required, and is not envisaged by any payment system. In case you have entered or communicated the PIN code, it is necessary to immediately terminate the transaction, inform the Bank and block the card.
  • When using the card, it is necessary to enter the PIN code in such a way that it is not visible to third parties, it is not recorded by any device,
  • Before carrying out an operation/transaction in the online environment using the card, please get familiarized in detail with the conditions of shopping, delivery, cancellation of the operation/transaction, return of goods from the particular website, availability of contact details on the website, etc.
  • When carrying out an online operation/transaction, you should use reputable and reliable websites adequately secured by such systems as Secure Sockets Layer (SSL), Verified by Visa security system, Mastercard SecureCode and other security systems.
  • not to use ATMs, cash points, points of sale/service that may seem to you unreliable or suspicious, as well as when additional equipment, wires, cables, adhesive tapes, or other suspicious items are attached to their card reader, keyboard, or cash disbursement window.

The bank provides the cardholder an opportunity to receive SMS (short) messages on receipts and withdrawals on card, thereby preventing unauthorized use of the card. Upon receipt of the above SMS, it is recommended that you confirm that the operation/transaction was made with your or your authorized persons' knowledge, instructions or participation.
3D Secure online payment security system has been introduced for the Bank's cardholders: this is a one-time password provided by the Bank, which the cardholder receives via SMS on the mobile phone number or via e-mail previously provided to the Bank.

In case of card loss / theft

In case of card loss/theft, unauthorized use of the card or in case of alert indicating such use, it is necessary to immediately report it in any of the following ways:

  • By calling the phone number listed on the Card.
  • By calling the Bank at the following telephone numbers:

from 9:00 to 22:00 (37410) 511-210, 511-211,
round the clock: (37410) 545-514.
After having received the verbal application and having verified the identity of the cardholder, the Card is blocked.

  • On Bank's non-working days and hours

by calling "Armenian Card" CJSC (37410) 592-222.

  • Sending a corresponding written message to [email protected], or by fax (37410) 511-212.
  • By submitting a written application to any branch of the Bank.

Until the moment of notification to the Bank, the Bank is not responsible for the operations/transactions made with the card and may demand from the cardholder the amounts paid by the Bank to the international payment systems.
In cases when the card has been found after it has been blocked, the cardholder is obliged to inform the Bank about it within 1 banking day at the latest.

Appealing the transaction

Within 1 year from the date of the transaction settlement in the statement (60 days in cases when regulated by the rules of payment systems) Bank cardholders can submit an application for appealing the transaction dispute which is available on the Bank in the following link https://conversebank.am/hy/all-forms/.
It is recommended that you notify the Bank immediately if you notice any discrepancies or unauthorized transactions.
The Bank is entitled not to consider the applications submitted after this deadline. All documents related to the transaction should be stored, in order to appeal the transaction.
In response to the appeal, the Bank shall either repay the amount of the appealed transaction to the card account within 90 days or provide the cardholder with a written response, justifying the impossibility of refunding the amount. In some cases, by means of properly notifying the cardholder, the written response may be provided or the amount may be refunded later than the specified 90-day period based on the rules of payment applied by the particular settlement systems or due to any other unforeseen circumstances.
if the recovery of the amount is not possible, the cardholder will not be released from his obligations to the Bank.
In the event that the fact of the fraudulent transaction had been identified by a bank employee, as well as in case of receiving a report on possible leakage of card data from payment and settlement systems, the card is reissued free of charge.

Time limits for carrying out the operations/transactions

1. The operation/transaction is considered to be released from the card account, on the date when such operation/transaction has been recorded. The operation/transaction, depending on the type of point of sale/service, can be recorded within up to 30 calendar days. As a rule, the amount of the operation/transaction is immediately released from the card, and is recorded in the card account, and reflected in the card account statement within the following time limits:

  • In case of operations/transactions in ArCa system -on the next working day,
  • In case of operations/transactions outside the ArCa system, after 2-3 working days.

2. The amount credited to the card account is usually available within 5 minutes (in the absence of technical or software problems at ArCa Processing Center).
3. On the first 3 working days of each month, transaction amounts may become available to the card later than the specified time.

The bank is not responsible for any possible damages incurred by the cardholder that may result from the amount becoming available with a time lapse or with a delay, or if the amount is activated with a delay. In particular, due to technical or software problems outside the bank's control.
The card may be overcharged depending on the specifics of certain types of transactions (hotel reservation, car rental, tourism, entertainment, etc.); time limits for transaction submission by the servicing bank, software problems, reversals/returns made by the service point, offline transactions, commissions set by the Bank, foreign exchange transactions, etc.

In case of card confiscation

Cards confiscated by the bank's ATMs are withdrawn from the ATM within a maximum of 3 working days.
The confiscated cards issued by the bank are subject to issuance to the cardholders within two days.
Confiscated cards issued by the Bank are kept in the Bank for 30 days, ie the cardholder must present himself/herself to the Bank within 30 days from the date of card confiscation in order to get the card back.

Card blocking and account freezing

Due to the need to protect the interests of the cardholder, if the card is not in circulation for 6 months or more, the Bank may unilaterally freeze the card account and block the card without additionally informing the cardholder, which, however, does not restrict the Bank's right to collect the appropriate amount from the card account in order to fulfill the cardholder's payment obligations.

The bank can block the card and freeze the card account on its own initiative, in the following cases:

  • The cardholder has overdue liabilities to the Bank,
  • The cardholder did not make the tariff payments on time,
  • A corresponding letter of blocking was received from the competent state bodies,
  • During its monitoring, the Bank detected suspicious fraudulent, illegal or related transactions /operations.

The bank can unblock the card and unfreeze the card account if:

  1. the cardholder has repaid the overdue liabilities,
  2. The cardholder has paid the tariffs,
  3. Relevant letter of unblocking was received from the competent state bodies,
  4. The Bank has received verbal or written confirmation about non-fraudulent nature of suspicious fraudulent transactions / operations detected during its monitoring.

In certain cases, the Bank is also entitled to place the card in the international blocking system on its own initiative, if there is a real risk of unauthorized use in a foreign country, in which case the cardholder is obliged to pay the placement fee for including the card in the international blocking system, regardless of whether the card is blocked or closed.
The Bank has the right to prohibit or restrict card transactions and block the card in the higher-risk countries, if the card data (card validity term, CVV/CVC codes) have been incorrectly entered in online environment multiple times.

Card reissuance

The cards are subject to reissue.

  1. In case of physical injury, the card and PIN-code is physically changed (the rest of the data remains unchanged). In case of reissue, the cardholder hands over the damaged card to the Bank.
  2. In case of card loss / theft, or data becoming known to third parties, the card, card number, PIN and CVV / CVC codes are physically changed, the validity period of the card is also changed (according to the defined card term).
  3. If the PIN is lost, only the PIN is changed or a new card is reissued with a new PIN.
  4. In case of change of the cardholder's name, surname, the card and PIN-code is physically changed. In this case, the cardholder hands over the card to the Bank.
  5. In case of changing the card type, the card, the type of card, the card number, the PIN and CVV / CVC codes are physically changed, the validity period of the card is also changed (according to the defined card term). In case of availability (if the reason for the change is not the loss of the card) the cardholder hands over the card to the Bank.
  6. At the end of the card validity period, the card, the card period of validity and PIN-code are physically changed, and the old card is returned by the cardholder at the moment of receiving the new card.

Cards can be reissued early 3 months before the card expiry date. In case of renewal of the card validity period, the customer must provide the service fee set for the given type of card.
The bank may reissue the card within the last 15 days prior to the expiration of the term, without the additional consent of the cardholder.
The bank automatically reissues the cards with a positive balance in the amount equivalent to the service fee for the given type of card, except for the cards for which a non-reissuаnce notice has been received.
The process of re-issuing cards is implemented and finalized within the reporting month.

Closing the card/card account

The card is subject to closing in the following cases:

  • in case it is not reissued at the end of the card validity period,
  • based on the client's application.

Within 5 (five) banking days after receiving the written application of the cardholder regarding the termination of the contract, the Bank will stop servicing the card.
If you have outstanding obligations in relation to the card, you may apply for closing the card only after repayment of such obligations.
In case of having a positive balance, the customer can claim to receive it 45 days after submitting the application. In case of liabilities arising within the specified period, the customer is obliged to repay the overcharge within 5 banking days.
If the card is terminated, the cardholder continues to bear liability and obligation to pay for the operations/transactions carried out prior to the termination of the card servicing and/or returning the card to the bank (for destruction).

If the balance of the account is not used within three months, AMD 1,000 will be charged for each quarter (if the balance is less than AMD 1,000/equivalent in foreign currency, the entire balance amount will be charged and the account will be closed).
From the second year following the closing of the card, 15,000 AMD is charged monthly from the account. This tariff does not apply if the customer has made a transaction with any of the accounts, or the customer has a current deposit or financing in the Bank, similarly, the tariff does not apply to bank accounts that are under foreclosure according to the procedure established by law. If the balance of the account that has not been used for any transaction for a period of two years or more is less than 15,000 AMD / equivalent in foreign currency, the entire balance amount is collected and the account is closed.


Responsibility:

The bank is not responsible for the following:

  1. for inability to obtain a 3D Secure password due to technical issues or circumstances beyond the bank's control, that result in failure of the transaction.
  2. For direct or indirect damage to the cardholder as a result of failure in servicing the card at the ATM, cashing point or at the point of sale or service (including those registered in the online environment).
  3. For the damages caused to the cardholder due to the transactions / operations made with the card, which have been performed:
  • by microprocessor (chip) card with PIN-code entry,
  • in offline mode, if they were made during the period when the card was not placed in the international blocking system,
  • For online operations/transactions conducted with the use of a 3D Secure certificate, as well for the operations/transactions on websites providing a 3D Secure system, whereby the operations/transaction has been carried out without a 3D Secure certificate.

The cardholder is not responsible for offline transactions that took place while the card was being placed in the international blocking system.

Communication with the Bank

You have the right to communicate with Converse Bank CJSC in any format at your discretion - by postal mail or by electronic communication methods. It is most convenient to receive information electronically, as it is available 24/7, free from the risk of loss of paper-based information and ensures confidentiality.

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

  • Provision of statement with periodicity prescribed by RA legislation (once): 0,
  • Provision of additional statement 1 Except for periodicity prescribed by RA legislation:

- dating back up to 3 years - AMD 1,000
- Dated back to 3 years and more (in case it is available in the bank ) - AMD 3,000

  • Statement1 for submitting to different institutions

- In case of accounts opened within a month 2 AMD 5,000
-  In case of accounts opened earlier - AMD 3,000

  • Account / account balance and / or turnover statement based on the application submitted through the Bank's website - AMD 3,000
  • References / notes on transactions

For transactions dated back up to one month - AMD 3,000
-  For transactions dated back more than one month - AMD 5,000

  • Transaction support documents and copies of other documents (for each document)

-  Dated back up to 1 month - AMD 1,800
-  Dated back up to 1 year - AMD 3,000
-  Dated back more than one year - AMD 12,000

Tariffs for other services (including VAT)

  • Mail delivery of statements or other documents

 In the Republic of Armenia and Artsakh - 0
 International
-  Tariff set by the shipping service provider, if established by law and contract.
-  In other cases, the fee set by the shipment service provider + AMD 1,500

  • Delivery of references or other documents via Ordered mail shipping

-  Within Armenia and Artsakh- AMD 3,000
-  International - fee set by the shipment service provider + AMD 3,000

1 In case of simultaneous provision of a statement and reference to the same Customer and charge envisaged for the reference, the charge will be collected for reference only.
2 In case of more than one active account, the opening date of account which has been opened earlier is taken into consideration irrespective of whether or not included in the statement.

Remote communication methods

The Bank's services are also provided by long-distance means of communication, the terms of which are presented at the following links:

Converse Online Bank / Converse Mobile - https://conversebank.am/hy/internet-banking/
My Converse - https://conversebank.am/hy/my-converse/
SMS – Converse / USSD - https://conversebank.am/hy/sms-converse-ussd/

ATMs and cash points

List of ATMs of the bank: https://conversebank.am/en/atms/
List of bank branches: https://conversebank.am/en/branches/

List of required documents

1

Application form

2

Identity document, public service number, or a reference of not having received a Public service number ( not required, if identification card is presented )

If necessary, other documents may be required

Attention

Among Armenian commercial banks VTB Bank (Armenia) is not a member of the ArCa system

 In case of currency exchange upon making transactions in cash withdrawal, trade and service outlets outside the ArCa  system, in currency other than card account currency, upon currency exchange, the Bank charges 2% commission fee. Exceptions are - in case of Visa cards - transactions in USD and EUR, and in case of Mastercard - transactions in USD.

In case of transaction in a currency different from a card account currency, exchange rates may differ at the time of validating the transaction and actually settling the transaction. The exchange rates established by ArCa / Visa / Mastercard payment systems are used upon validation, and the exchange rate of the USD set by the Bank for the end of the banking day prior to the date of the operation/transaction is used during the operation/transaction settlement. The Bank is not responsible for currency and other risks associated with exchange rate differences.

In accordance with the RA Law on Combating Money Laundering and Terrorist Financing, on the basis of the Know Your Customer Principle, the Bank may require the Customer to provide additional documents or other information, as well as ask questions during verbal communication, for the purpose of conducting due diligence of the Customer.  

The Bank may collect additional information in accordance with the terms of an agreement with the US Government under the Foreign Account Tax Compliance Act (FATCA) to determine your eligibility for being a US taxpayer.

The Bank is entitled to modify and supplement the tariffs for services provided by notifying the Customers in accordance with the contract, by posting a relevant message on its own website ( www.conversebank.am ), by posting announcements on the Bank's premises, by sending a notification by post, and by any other methods  proposed by the Bank selected at the Customer's preference, which is considered a due notification of the Customer.

The card account and the client's rights to dispose of the cash on the account may be restricted by a court decision on the basis of an application submitted by the law enforcement bodies or tax authorities or other competent bodies in accordance with the procedure established by law.

Withdrawal of funds from the account without the customer's instruction may be carried out by a court decision on the basis of an application submitted by the court enforcement authorities and the tax authorities. These are reflected in the customer's bank account statements, which are provided to the customer in the manner agreed between the Bank and the customer.

When concluding a contract, the Bank will provide you with the "Rules for issuing and using cards", which present the minimum conditions for safe use of the card.

 

Card issuance location

Card is issued at Head Office and Branches

Your financial directory

Your financial directory at www.fininfo.am, is an electronic system combining services offered to individuals that makes it easy to search, compare and find the most effective option for you. https://www.fininfo.am/finhelper/index.php?type=cards.

Notice on the terms and conditions of the deposit refund guarantee

The deposit refund guarantee is provided by the Deposit Guarantee Fund (hereinafter referred to as 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 5 million AMD

16 million AMD (only AMD deposit is guaranteed)

If the AMD-denominated deposit is less than 5 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 of the foundation: c. Yerevan, Khorenatsi 15 ("Elite Plaza" business center)
Phone: 374 10 583514

Procedure for resolving disputes

Any disputes and disagreements between the Customer and the Bank shall be resolved first by mutual negotiation, and should the agreement not be reached by such methods, the disputes and disagreements shall be resolved in accordance with the procedure prescribed by the RA legislation both per court procedure, and through financial system obmudsman.

Notice on Financial System Mediator

Please be informed that according to the RA Law on Financial System Mediator, in case of property claims arising out of services rendered to you by Converse Bank CJSC, disputes and disagreements for not exceeding million AMD or equivalent foreign currency may be resolved through the Financial System Mediator.
According to an agreement between the Bank and the Office of the Financial System Mediator, the Bank waives the right to challenge the Financial System Mediator's decisions only in relation to property claims not exceeding 250,000 (two hundred and fifty thousand) AMD or equivalent currency, and on transaction amounts not exceeding 500,000 (five hundred thousand) AMD or equivalent foreign currency.

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 more information you can:

  • visit the Bank's website at https://www.conversebank.am
  • visit the Bank's Customer Service at the Head Office or any branch
  • Call: 374 10 511211
  • Viber: 374 95 511211
  • Skype: conversebank-callcenter

 

Updated 01.12.2020 09:00