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Visa Platinum

Visa Platinum

Is accepted at any trade and service centre and encashment point in the world, in case of availability of Visa sign, ensuring an individual approach and opportunity of getting discounts.

Tariffs of provision and service

N Service Type Visa Platinum
1 Provision of the card 0
2 Provision of additional*/attached** card2 0
3 Annual fee AMD 60 000
4 Transactions in trade points 0
5 Provision of cash at encashment points and ATMs of the bank 0,9%
6 Provision of cash at encashment points and ATMs of other ARCA system member banks 1%
7 Provision of cash at encashment points and ATMs of banks that are not members of ARCA system 1%, minimum AMD 1 500
8 Maximum daily limit of encashment transaction AMD 2 000 000 
USD 6 000 
Euro 4 000
9 Maximum daily number of encashment transactions 10
10 % accrued on the balance of the card account /annual/ 0
11 Provision of a statement from the card account with the frequency set by the legislation of the RA /once/ 0
12 Provision of an additional statement from the card account above the frequency set by the legislation of the RA 0
13 Penalty accrued to the amount in excess of the credit limit 0.15% daily
14 Provision of a duplicate of a lost/stolen/damaged card and PIN code 0
15 Provision of a duplicate of a lost/stolen/damaged card and PIN code during the same day AMD 5 000
16 Provision of cash from the card account in case of loss of the card abroad 5% of the amount
17 Submission of unjustified chargeback application AMD 5 000
18 Card to card transfers 1%
19 Penalty accrued to the overdue amount in case of failure to make the minimum payment  0,15 % for each day of delay
20 Mandatory minimum payment at the end of the grace period  10% of the used part of the credit limit
21

Sending SMS concerning amounts credited to and debited from the card

The amounts are VAT inclusive

0
22 Card unblocking fee AMD 500
23 Decreasing the card limit according to the client’s request  0
24 Increasing the card limit according to the client’s request  0
25 Payment for access to the respective VIP areas of airports /Priority Pass/ AMD 14 000
26 Provision of medical insurance during trips abroad 0
27 Termination of the card validity in the bank's authorization system and putting it on the Stop-list/ for two weeks AMD 15 000 
  • In case of transactions done in a currency different from the currency of the account of the Bank’s cardholders at encashment points, ATMs, trade and service centres, that operate beyond ArCa system, at the time of currency conversion the fee of 2% set by the Bank is applied. Exceptions are transactions in USD and Euro.

2 One premium class card /Visa/Master Card Gold, Visa Platinum, Visa Infinite/ can have only one free-of-charge additional/attached premium class card. One-off amount in the size of the annual service fee set for the respective card type will be charged for each subsequent additional/attached card.

* Additional card - an additional card of the same payment and settlement system, opened within the same account /VISA-VISA, ArCa-ArCa, MasterCard-MasterCard/
** Attached card - an additional card of a different payment and settlement system, opened within the same account /VISA-ArCa, MasterCard; ArCa-VISA, MasterCard; MasterCard-VISA, ArCa/

The exchange rate applied at the time of authorization of an operation/transaction and the exchange rate applied at the time of its actual accounting may differ. At the time of authorization, the exchange rates set by payment and settlement systems ARCA/VISA/MasterCard, and at the time of actual accounting of the operation/transaction, the USD exchange rate set by the Bank for the end of the previous banking day is applied. Exceptions are the operations/transactions made in Euro with the cards of Visa payment and settlement system, at the time of accounting of which the Euro exchange rate set by the Bank for the end of the previous banking day is applied. The Bank bears no responsibility for the currency and other risks connected with the exchange rate differences.

In case of not usage of the balance on the closed card account for three months, AMD 1000 is charged for every year (if the balance is less than AMD 1000, then the whole balance amount is charged, and the account is closed).

Description of Visa Platinum card

International VIP credit card

Specific level of service

VISA PLATINUM card has the following advantages:

  • A card, which is a member of PRIORITY PASS project that provides for access to VIP areas of about 600 airports all over the world
  • Round-the-clock service of VISA PLATINUM card
  • Medical and legal consultation abroad
  • Provision of free-of-charge medical insurance during trips abroad

Advantages

  • Opportunity of provision of credit limit for AMD 3 000 000 and more or its equivalent in foreign currency
  • Provision of the card in AMD, USD and Euro
  • Provision of an additional card to the family members within the card account
  • Unlike other cards, the cardholder enjoys individual approach both from the bank and from the staff of trade centres
  • Unlike cash purchases at trade centres, in case of making purchases with payment cards you will get 3-30% discounts in over 40 local trade points

Accessibility

  • Is accepted without restrictions at any trade and service centre and encashment point in the world, in case of availability of Visa sign, ensuring individual service and possibility of discounts.

Convenience

  • Quick card to card transfer of funds
  • Sending an SMS to the cardholder about the transaction at the time of making it
  • 24-hour telephone information system by phone number 545514

Care

  • Quick reissuance and delivery of the card to any place of the world, in case of losing the card outside the RA
  • Transfer of cash in case of having problems with the card abroad
  • Provision of a free of charge certificate for voluntary medical insurance during trips abroad. The insurance is valid in Schengen countries, covers the amount of Euro 30.000, for a period of 30 days during 1 year

Security

  • Possibility of fast identification of the cardholder by means of a photo and signature
  • Ensuring in the virtual /internet/ environment the modern 3D Secure security system consonant with the international criteria  

Conditions of the credir card on Platinum card

Currency

  • AMD, USD, Euro

Amount of the credit limit

  • AMD 3 000 000 and more or its equivalent in foreign currency

Validity term

  • 36 months

Period of provision of the credit limit

  • Until submission by the client of the card closing application or closing of the limit based on the Bank’s justified opinion

Period of preparation and provision

  • Maximum 5 working days

Interest rate

  • Is approved by the Management Board

Setting the limit

  • For card holders and not cardholders of “Converse Bank” CJSC, up to three fold of the net salary or average monthly income /from entrepreneurial activity, pension, rent, and other documentarily evidenced income/, depending on the client’s creditworthiness.

Procedure of repayment and calculation of interest

  • The transactions performed by the client each month are reflected in the monthly statement. The statement date is the 1st, 10th, or 25th day of each month /if it’s a non-working day, then the next working day/.
  • For salary cards, statement date is the 25th or 10th day of each month, at the client’s choice. / if it’s a non-working day, then the next working day /.
  • The credit limit can be repaid by 2 options:

Option 1. Credit cards with a grace period

  • The client is granted with a grace period of 15 days starting from the statement date, and in case of paying the full used part of the credit limit during the grace period no interest is charged.
  • The client shall repay the debt specified in the statement until expiry of the grace period, in accordance with the Tariffs and Rates set by the Bank.
  • The part of the credit limit used by the client is restored for the size of the repaid amount.
  • In case of failure to repay fully the liability created at the end of the grace period, interest is accrued at the interest rates set by the Bank’s tariffs at the given moment. After preparation of the statement the client shall credit to the account at least 10% of the credit limit used by the client plus the interest accrued for the current month, of which the interest calculated for each month shall be deducted and the remaining amount of the credited amount shall be directed for restoration of the credit limit used by the client. In case of failure to make the minimum 10% payment set for the credit limit, the used limit is considered overdue for the respective amount, and daily penalty of 0.15% of the overdue amount is accrued.

Option 2. Credit cards without a grace period

  • The credit limit is provided without a grace period for repayment, interest is accrued to the used credit limit daily.
  • On the preferred day of each month, the client shall repay the interest accrued to the used portion of the credit limit as of the given day / and/or the penalty. In case of failure to repay the interest within the required period, penalty of 0.4 percent of the overdue interest amount is accrued.
  • The client is offered the opportunity to repay the accrued interest preliminarily, 15 days in advance.
  • The accrued interest is the sum of interest accrued to separate transactions for the period starting from the date of recording a transaction until the date of repayment of the transaction amount.
  • Regular credits made by the client are used for repayment of the used limit, after which the limit is restored for the same amount.

Option 3. Settlement cards with decreasing limit, without grace period

The credit limit is provided on the condition of decreasing the principal amount on monthly basis, with maximum maturity of 36 months. The used credit limit is restored for the repaid amount, not to exceed the credit limit, and the total limit is decreased for equal monthly amounts of "Contract amount/Contract term".
The interest is accrued to the used credit limit on daily basis. The customer assumes the obligation of repaying on his/her preferred date of each month the mandatory deductible amount fixed by the credit limit agreement and the interest /and/or penalty/ accrued as of that date. In case of failure to pay the interest within the specified term, a fine is calculated at the rate of 0.4% of the overdue interest amount and 0.15% of the overdue deductible amount.

 

The customer is given the opportunity to repay the accrued interest in advance, 15 days prior to the maturity date, and repay the required deductible amount on the repayment date fixed by the credit limit agreement.

Penalties

  • In certain cases, depending on the place of usage of the Card and the character of the transaction, the credit limit of the card can be exceeded in the result of one or several transactions, in case of which a penalty is accrued in the size set by the Bank’s Tariffs and Rates.

“WARNIGN: IF YOU FAIL TO REPAY THE INTEREST AND PRINCIPAL AMOUNT OF THE LOAN IN TIME, INFORMATION ABOUT YOU WILL BE SENT TO THE CREDIT REGISTER”

List of required documents

  • Application;
  • Passport;
  • Public services number or a reference on having no public services number;
  • Reference from the place of employment printed on the employer’s letterhead, specifying the position held, length of service, and size of the net salary. The client can be also required to present a copy of his/her available annual individual statement submitted for the client by the employer to the RA Social Insurance Fund. (this list of documents doesn’t apply to cards secured with pledge of funds or to corporate credit cards);
  • If cards are provided to private entrepreneurs:
  • PE’s certificate;
  • TIN;
  • A reference from the SRC regarding the obligations of the latter towards the state. 
  • Results of business analysis approved by the CFD, according to "Converse Bank" CJSC's Regulation on Provision of Individual Loans;
  • Other documents evidencing income;
  • Other documents, if required.

* The salary reference shall be dated not more than 15 calendar days before the date of submission

Other information

Decision is made on the basis of the following factors:

1. If the client is an account holder of “Converse bank” CJSC and receives salary on the banking account held at “Converse bank” CJSC for three months and longer, then the following is taken into account:

  • turnover on the client’s accounts during the last three months, the average monthly balance is calculated, or
  • the salary reference is compared with the salary actually received on the account, or
  • the client’s creditworthiness is assessed on the basis of other factors, which is compared with the limit requested by the client and a conclusion is given concerning the maximum credit limit. The already existing liabilities, monthly payments, the family status, and other data characterizing the client’s creditworthiness are considered.

2. If the client is a new client of “Converse bank” CJSC or has a banking history at the Bank for less than three months, then the credit limit is determined on the basis of the data that characterize the client’s creditworthiness, which is determined by “Converse bank” CJSC.

3. Thereafter:

  • It is checked whether the client is in the database of “Converse bank” CJSC’s borrowers and in “Converse bank” CJSC’s database of suspicious persons;
  • Frequency of making utility payments is checked in the database of utility payments;
  • In case of an amount equivalent to AMD 100 000 and more, an inquiry is made to ACRA information system;
  • Other possible reviews are conducted.

In the result of the above-mentioned reviews, an assessment is given for the client’s creditworthiness, and its insufficiency is a basis for rejection to the client.