Loan interest is calculated based on the nominal interest rate applied to the deductible balance, and the actual annual interest rate shows how much the loan will cost you when you make timely interest payments and all the related mandatory fees and payments related to loan disbursement.
The procedure for calculating the annual actual interest rate can be found at. 

Visa Pay Sticker/Visa Mini Fob

Visa Pay Sticker and Visa Mini Fob are cards/additional cards attached to a main Visa Classic type card provided by the Bank, which allows the Customer to make contactless (touch-free) transactions using Visa PayWave technology.

Restrictions:
Not intended for online transactions.
Cannot be used at service points and ATMs where contactless payment method or Visa Pay Sticker or Visa Mini Fob cannot be technically used or serviced.

Terms:
Card name	Visa Pay Sticker / Visa Mini Fob
Card validity	60 months
Currency	AMD
Annual service fee	3,000 AMD For non-resident customers – AMD 8,000
Fee for issuance of Mini Fob accessory	2,000 AMD
Transactions at retail outlets/trade points	0
Cash disbursement	According to the basic card tariffs
Cash deposit at ATMs	According to the basic card tariffs
Card to card transfers	According to the basic card tariffs
Daily maximum cash withdrawal limit and quantity Can be modified based on to the customer's application	AMD 500,000 / 10 times per day
Providing a new Pay Sticker or Mini Fob and PIN-code as a replacement in case of lost/stolen/ damaged ones (without Mini Fob accessory)	AMD 2,000
Issuance of Pay Sticker or Mini Fob and PIN-code on the same day in case of a new application or re-issuance of an existing one 1	AMD 5,000 For non-resident customers – AMD 10,000
Submitting unreasonable reversal application	AMD 5,000
Pay Sticker or Mini Fob unlocking fee in case of entering the wrong PIN for 3 times	AMD 500
Sending an SMS about deposits and withdrawals using Pay Sticker or Mini Fob or in response to an USSD request (including VAT) 2	0

¹Provided only in Kilikia branch, without printing a PIN code. In case of submitting the application before 16:00, the card is issued on the same banking day, and in case of submitting the application after 16:00 - on the next banking day.
²For non-premium class cards attached / added to premium class cards, the SMS service tariff for the same premium class card is valid
 

Early repayment
The customer has the right to unilaterally terminate the loan agreement without any reason within 7 working days after its conclusion, unless the loan agreement provides for a longer period (time to reconsider). In this case, to use the loan amount, the customer is obliged to pay interest to the Bank, which is calculated in accordance with the annual actual interest rate stipulated in the loan agreement. No other compensation may be claimed from the customer in connection with the termination of the loan agreement.
The customer has the right to fulfill (repay) the obligations stipulated in the loan agreement ahead of schedule, regardless of whether such a right is stipulated in the loan agreement or not.
In case of early fulfillment (repayment) of the obligations under the loan agreement, the total cost of lending will be proportionally reduced, including the total interest payable according to the loan agreement and loan disbursement fees. Payment card issuance, service and cash withdrawal fees are not subject to reduction/refund.

Fines and penalties
In case of breach of the repayment terms stipulated in the agreement, the Borrower shall pay a fine to the Bank at the rate of 0.13% for each day of default.
No fines or penalties are envsiaged for early repayment of the loan.

Repayment and interest calculation procedure

1. Credit limit with a grace period
The transactions made by the customer during each month are reflected in the monthly statement. The 1st, 10th or 25th of each month (or, the next working day, if the latter are non-working days) are the days when the statement is generated.
A payment period of 15 days is granted for mandatory payments starting from the date of the statement's issuance. During this period, the client is required to repay at least 10% of the used portion as of the beginning of the statement's issuance date, along with the accrued interest up to the payment date. If applicable, penalties, fines, overdraft amounts, and service fees accumulated up to the payment date must also be settled.
A grace period is provided until the end of the payment term. If the used amounts are fully repaid during this grace period, no interest is charged on these amounts.
The repayment of obligations is carried out in the following order:
• Overdraft amounts (if any),
• Accrued penalties and fines (if any),
• Overdue interest from previous period(s) (if any),
• Overdue principal amount from previous period(s) (if any),
• Accrued interest (if any),
• Used portion of the credit limit.

2. Credit limit with a payment grace period.

Transactions made during each month are reflected in the monthly statement, with the statement date being the 1st of each month.
Interest is calculated daily on the utilized portion.
A payment period of 20 days is provided starting from the statement date. During this period, the client is required to repay at least 10% of the used portion as of the beginning of the statement date and any accrued interest up to the payment date. If applicable, penalties, fines, overdraft amounts, and service fees accumulated up to the payment date must also be repaid.
Until the end of the payment period, a grace period is applied for amounts formed from Transactions (hereinafter "Payments") made at trade and service points, including online. During this grace period, no interest is charged on the repaid portion of these amounts.
The repayment of obligations is carried out in the following order:
• Overdraft amounts (if any),
• Accrued penalties and fines (if any),
• Overdue interest from previous period(s) (if any),
• Overdue principal amount from previous period(s) (if any),
• Used portion of the credit limit,
• Interest accrued on amounts used for Exceptions during the reporting period and amounts used for Payments during the previous reporting period (if any),
• Amounts used for Exceptions during the reporting period,
• Amounts used for Payments during the reporting period.
_________________________________________

* Top-ups of accounts, cards, electronic wallets, loan repayments, bets placed at casinos and gambling institutions, top-ups of accounts of virtual casinos and betting companies, as well as transactions carried out through the Bank's internal systems (hereinafter referred to as "Exceptions") are not included.

3. Credit limit without a grace period

Transactions made during each month are reflected in the monthly statement, with the statement date being the 1st of each month. Interest is calculated daily on the utilized portion.
The customer is required to repay the accrued interest up to the payment date, as well as any penalties, fines, overdraft amounts, and service fees in full, either on the interest payment date specified in the contract for each month or during the preceding 15-day period.
Repayment of obligations is carried out in the following order:
- Overdraft amounts (if any),
- Accrued penalties and fines (if any),
- Overdue interest from previous period(s) (if any),
- Accrued interest (if any),
- Used portion of the credit limit.

4. Credit limit with no grace period and with a decreasing limit
Transactions made during each month are reflected in the monthly statement, with the statement date being the 1st of each month. The credit limit is provided with equal monthly repayment of the principal amount over a term of 60–120 months, based on the collateral securing the credit limit.
Interest is calculated daily on the utilized portion.
The customeer is required to ensure full repayment of the principal amount and accrued interest on the payment date specified in the agreement for each month. If applicable, penalties, fines, overdraft amounts, and service fees must also be deposited into the account during the 15-day period preceding the payment date or on the payment date itself.
Repayment of obligations is carried out in the following order:
- Overdraft amounts (if any),
- Accrued penalties and fines (if any),
- Overdue interest from previous period(s) (if any),
- Overdue principal amount from previous period(s) (if any),
- Accrued interest,
- Used portion of the credit limit.

PIN - code
Personal Identification Number (PIN), used for cardholder identification during certain transactions, such as cash withdrawals from ATMs and transactions via POS terminals. For contactless transactions, payment systems may set limits under which PIN entry is not required.
1. Setting the PIN for a newly issued/reissued card:
- By the customer: Via the Converse Mobile application by following the instructions provided in the settings for the respective card.
- By the customer: Through ATMs of banks that are members of the ArCa system, using an OTP code. The instructions displayed on the ATM screen must be followed, and the received OTP must be entered into the appropriate field.
- By the cardholder's request: With a pre-defined PIN code issued, printed in a single copy, and provided to the cardholder in a sealed envelope along with the card.
2. Responsibility for safeguarding the PIN code lies with the cardholder.
3. The cardholder can change the PIN code at their discretion via the Converse Mobile application or an ATM with the corresponding functionality.
4. If the PIN code is forgotten/lost, the cardholder can set a new PIN code via the Converse Mobile application or request the Bank to reset the PIN code. Afterward, the new PIN code can be set using the methods described above. The Bank may also reissue the card with a new PIN code upon the cardholder's request, charging the applicable fee according to the tariffs.
5. When the PIN code is set via the application, non-contactless transactions using the card via POS terminals can only be performed after using the card in an ATM of any ArCa system member bank.
6. If the PIN code is entered incorrectly three consecutive times, the card will be automatically blocked and/or may be confiscated.
_________________________________________
* One-time password (OTP) sent by SMS to the mobile phone number provided by the cardholder to the Bank in writing, which is used for generating or changing the card's PIN-code and activating the card, for activating the token created by the cardholder, as well as in other cases, as a means of identifying the cardholder.
Supplementary/Attached Cards

Supplementary Card - An additional card issued under the same Card Account:
1. Based on a request from the primary cardholder, the Bank may issue one or more supplementary cards in the names of individuals specified in advance by the primary cardholder. In such cases, the primary cardholder must provide the Bank with accurate information about the supplementary cardholders.
2. The supplementary card may only be used by the person in whose name it has been issued.
3. The primary cardholder may set a monthly transaction/amount limit or other restrictions for the supplementary card.
4. If the primary card is closed, the supplementary cards are also closed.
5. The primary cardholder is responsible for all transactions made using the supplementary card.

Rules on card issuance and usage

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/hy/Converse-Cardsrules/
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 trade 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 another card identification code required by the payment system rules has been used, which is set (applied) at the time of the operation/transaction.

Safety rules
For security reasons, it is recommended:
• Immediately inform the Bank, in case you have not received the OTP within the set period, when creating a PIN code through an ATM,
• when setting a new PIN, choose the most complex combination of numbers without using consecutive or duplicate numbers,
• 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, UnionPay 3-D 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.
The cards issued by the Bank are equipped with the 3D Secure system, including "Verified by Visa", "MasterCard SecureCode", "UnionPay 3-D Secure", and other security systems, providing two-factor authentication for card transactions in the online/electronic domain.
________________________________________
* A one-time password provided by the Bank, which the cardholder receives via an SMS sent to the mobile phone number previously provided to the Bank or via an email sent to the cardholder's registered email address.

In case of unauthorized use, loss, or theft of the card/token:
1. In the event of card/device loss, theft, unauthorized use, or such risks, immediate action must be taken to block them using the following methods:
 Block the card via the Converse Mobile application through the settings of the respective card.
 Call "Converse Bank" CJSC at (+374) 10 511 211, (+374) 12 444 444 (available 24/7) or any of the phone numbers listed on the card, and submit a verbal request. After verifying the cardholder's identity, the card will be blocked.
 Send a properly written notice to [email protected], via the application’s chat, through the Internet-Bank system, or submit a written application at any branch of the Bank.
2. The Bank is not liable for any damages incurred by the cardholder due to failure to notify, delayed notification, or transactions made before the notification.
3. If the lost card is found after being blocked, the cardholder may request unblocking via the Converse Mobile application, by sending a properly written notice through the aforementioned methods, or by visiting any branch of the Bank.

Appealing the transaction

1. The cardholder may dispute transactions reflected in the statement within 3 months from the statement date (unless a shorter period is specified by the rules of the corresponding payment system) by submitting an application completed in the form established by the Bank and attaching documents substantiating their claim. It is recommended to immediately notify the Bank in case of any discrepancies or unauthorized transactions.
2. The Bank will assist in recovering the disputed transaction amount in accordance with the rules of payment systems; however, in cases where recovery is not possible, the cardholder remains liable for their obligations to the Bank.
3. The Bank will respond to the dispute application within 90 days, either restoring the disputed amount to the card account or providing a written explanation for the inability to refund the amount. In specific cases, with prior notice to the cardholder, the response or refund may be delayed beyond the 90-day period due to payment system rules or unforeseen circumstances.
4. The cardholder must retain all payment documents related to card transactions until receiving the statement and compare the listed transactions with actual expenses. In case of discrepancies, the cardholder must notify the Bank within the specified period. The Bank reserves the right to reject claims received after this period.
In cases where amounts are overcharged or double-charged from the cardholder’s account due to technical issues in the Bank’s systems, communication failures, or errors by the Bank’s staff, the excess or duplicate amount will be refunded to the cardholder’s account within 1 business day after the issue is identified by the Bank.

Timeframes for the execution of transactions
1. The transaction amount is considered debited from the card account on the transaction recording date. Depending on the traade/service point and the type of transaction, recording may take up to 30 calendar days. The transaction amount is immediately debited from the card and typically reflected in the card account and statement within the following timeframes:
• For transactions processed within the ArCa system: The next business day.
• For transactions processed outside the ArCa system: Typically, within 2–3 business days.
2. The cardholder may deposit funds to the card account either personally or through a third party on their behalf. Deposits can be made in cash or non-cash, including via other banks or correspondent banks, including foreign ones.
3. The Bank is not responsible for any potential damages incurred by the cardholder due to delays in funds becoming available. This may include technical or software issues not caused by the Bank. Additionally, during the first three business days of each month, transaction amounts may become available later than the standard timeframes.
4. Funds can also be deposited to the card account using alternative methods provided by payment systems (e.g., card-to-card transfers, transfers from electronic wallets to the card, cash deposits via ATMs, etc.). In these cases, the funds may become available immediately or within the timeframe specified by the payment systems for the given deposit method. The funds are considered deposited to the card account on the recording date of the transaction.
5. Overdrafts on the card may occur due to the specifics of certain types of transactions (e.g., hotel bookings, car rentals, transactions in the tourism and entertainment sectors) due to the following: deadlines for transaction submission by the acquiring bank, software issues, post-payments/refunds made by the merchant, offline transactions (in which overdrafts may occur even in the absence of available funds on the card), bank-imposed fees or charges, currency exchange transactions, among others.

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:
1. The card details (card expiration date, CVV2/CVC2 code) were entered incorrectly multiple times during a transaction attempt.
2. The cardholder has overdue obligations to the Bank.
3. The cardholder did not collect the issued card within the specified timeframes.
4. The cardholder did not make the tariff payments on time,
5. A corresponding letter of blocking was received from the competent state bodies,
6. 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.

Card reissuance
Cards are subject to reissuance:
1. In case of physical damage: the card and PIN code are physically replaced (other details remain unchanged). During reissuance, the cardholder must return the damaged card to the Bank.
2. In case of loss/theft or disclosure of card details to third parties: the card, card number, PIN, and CVV2/CVC2 codes are physically replaced. For debit cards, the card’s validity period is also updated (matching the original validity period).
3. In case of loss/forgetting of the PIN code: it can be restored, but the card may also be reissued upon request.
4. In case of changes to the information printed on the card: the card, along with the name and surname printed on it, is physically replaced, including the PIN code. In such cases, the cardholder must return the card to the Bank.
5. In case of a change in the card type, the card, its type, card number, PIN, and CVV2/CVC2 codes are physically replaced. For debit cards, the card’s validity period is also updated (matching the original validity period). If applicable (and the reason is not card loss), the cardholder must return the card to the Bank.
6. At the end of the card’s validity period, the card, its validity period, and PIN code are physically replaced, and the old card is returned by the cardholder to the Bank when receiving the new card.
Cards can be reissued up to 3 months before the expiration date. For validity renewal, the client must ensure payment of the service fee defined for the respective card type.
The Bank may reissue debit cards without additional consent from the cardholder within the last 15 days prior to the expiration date.

Automatic reissue

Debit cards
The bank automatically reissues the cards with a positive balance in the amount equivalent to the one-year service fee set for the given card type, except for those cards for which a letter/note on non-reissuance was received.
The process of reissuing cards is carried out and completed during the reporting month.

Settlements cards
1. The following cards can be automatically reissued:
• Settlement cards with a grace period on which the customers did not have overdue liabilities more than 5 times or exceeding AMD 10 thousand in total (or equivalent foreign currency) during the card's period of validity.
• Settlement cards with no grace period on which the customers did not have payments overdue for more than 60 days(s) in total during the card's period of validity.
2. If the first condition for automatic re-issuance is met, the credit limit is automatically re-issued if the cardholder's credit history (according to the ACRA report) is positive and meets the criteria set by the Bank.
3. In case the customer's card expires in the given month, but the credit limit has been signed off/renewed during the 6 months preceding the month when the card expires, the settlement card is reissued automatically.
Early issuance of settlement cards is possible, up to 3 months in advance before the card expiration date. The settlement card will be reissued early if the customer did not have more than 2 overdue liabilities during the settlement card's period of validity. In cases where the credit limit has been reduced based on the customer's application, the the re-issuance is based on the current limit, unless the customer has previously applied for changing the limit.
Not reissued automatically.
Settlement cards for non-resident customers.
In cases where a negative decision has been made regarding the reissuance of a settlement card, but there are still outstanding obligations under the settlement card, the card is not closed.
Credit limits for settlement cards that do not meet the conditions for automatic reissuance are terminated on the first business day of the month following the card’s expiration date.

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,
• if the card is returned due to not being collected within one month after issuance.
• based on the customer’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. In case of liabilities on card and credit limit, the application for closing can be accepted only after the repayment of those liabilities.
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 business 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 AMD 5,000 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 5,000 AMD / equivalent in foreign currency, the entire balance amount is collected and the account is closed.

Responsibility

The Bank is not liable for:
1. Failure to receive a 3D Secure security password due to technical reasons or causes unrelated to the Bank's operations, resulting in a transaction failure.
2. Any direct or indirect damage to the cardholder caused by non-service or malfunction of any ATM, cash withdrawal point, or trade and service location (including online environments).
3. Damages incurred by the cardholder resulting from transactions performed:
• Using a microprocessor (chip) card with the PIN code entered.
• By physically reading the magnetic stripe or chip, or by entering the CVV2/CVC2 code and receiving online authorization from the issuing bank (even if the signature on the transaction slip differs from the cardholder's actual signature).
• In offline mode, if performed before the card was returned to the Bank and/or during the period when the card was not registered in the international blocking system.
• Online, with 3D Secure authentication or on websites supporting the 3D Secure system, even without obtaining 3D Secure authentication.
The cardholder is not liable for transactions performed in offline mode during the period when the card was registered 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.
In addition, during the term of the agreement, through electronic communication or by your choice, in another way (for example, postal communication, at the Bank's premises - in person, etc.), the Bank will provide you with the changes and amendments in legal acts and other circumstances having direct impact on the general terms of service and other fees, the order of communication, rights, obligations or responsibilities arising from the agreement, as well as providing credit bureau with the data.

Provision of statements, references and other information (including VAT)
• Provision of a statement by the method preferred by the customer, at the frequency defined by the RA legislation and / or by the agreement - 0
• Provision of account statements issued electronically at intervals prescribed by RA legislation and/or the agreement, upon the customer’s request, in their preferred way and for their preferred period (once per period; and with the implementation of the option to send statements via the Converse Mobile application, without limitations): 0
• Provision of the statement in addition to the periodicity defined in the previous points 1:
- 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 month2 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
 Interstate – 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
- Interstate - AMD 3,000
- International - fee set by the shipment service provider + AMD 5,000
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 remote means of communication, the terms of which are presented at the following links:

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

ATMs and cash points
List of ATMs of the bank - https://conversebank.am/hy/atms/
List of bank branches - https://conversebank.am/hy/branches/

List of required documents
 

1	Application form
2	Identification document, public service number, or a reference of not having received a public service number /Social card number/ (not required, if identification card is submitted)
In case of settlement card, also
3	A reference from the place of work, written on the employer's form, to indicate the position held, length of service and net salary (does not apply to settlement cards secured by cash). The reference should not date back more than 20 calendar days (a reference from workplace is not required if by the time of application, the customer has been paid his/her salary through the Bank for at least 6 months); a copy of the annual personal report provided by the employer may also be required.
4	Documents substantiating other sources of income (if available)
5	In case of entrepreneurial activity: -      Taxpayer identification number (TIN), -      Certificate of incorporation (reference from state register), charter (if available), -      Identification documents of the shareholders and the director, -      Permission documents /licences/ for conducting the given type of activity, -      Financial statements and tax reports approved by tax authorities, -      Profit and Loss Records (if any) for the last 6 months, -      Bank account turnover (if available), -      Reference from the State Revenue Committee on obligations towards the State, -      Business Analysis Report.
If necessary, other documents may be required

 Credit history

Credit history is a collection of data on the financial obligations of an individual or legal entity, which shows the history of the latter’s financial obligations or their fulfillment. It is essential because after applying for a loan, the bank or credit organization, before making a decision to grant a loan, examines the applicant's credit history and creditworthiness.

The credit history includes data on 5 year-period prior to the date of inquiry, and is made from information on:
• Financing received by the person, including:
- its quantity and amount,
- the amount, type, terms of each financing, the nominal interest rate applied by the creditor,
- the information on collaterals securing loan/financing.
• Fulfillment of loan installments (for example, whether the interest and principal amount repayments were duly paid or not),
• Guarantees provided to other persons, their number and amount, the type of loan secured by each guarantee, terms and information regarding collaterals,
• Overdue days/amounts in terms of financing and guarantees, as well as the penalties and fines charged for them,
• Outstanding or late utility bills.

Credit history does not contain personal data, such as a person’s ethnicity, religious and political views, social status, etc.

If there are incorrect or incomplete data in the credit history, for the purpose of clarification and correction, the borrower can inform about it "ACRA Credit Reporting" CJSC, hereinafter also Credit Bureau, or directly contact the financial organizations providing information. People can address credit bureau by submitting an appropriate written application or electronically, online from the personal office "My ACRA".
The process of accepting/receiving, discussing and responding to customer complaints regarding credit reports provided by the credit bureau, the sequence of actions is defined by the "Procedure for Dispute Resolution" of "ACRA Credit Reporting" CJSC.

For more details follow the links: www.abcfinance.am and www.acra.am links.

Measures to take to improve the credit history and scoring

In order to improve credit history and scoring, it is necessary to eliminate the main causes of their deterioration, in particular, to pay off current overdue obligations as soon as possible, as well as:

• ease the credit burden by partially or fully repaying existing loans,
• make repayments in accordance with the established schedule, excluding delays and showing punctuality,
• reduce the number and amount of provided guarantees, as well as, if available, ensure the full repayment of overdue obligations,
• avoid even one-day delays in fulfilling obligations on current loans and becoming a guarantor for unreliable persons,
• avoid applying for new loans frequently.

Attention

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 the transactions made in USD and EUR.

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. Exceptions are operations/transactions made in Euro with Visa payment system cards, during the settlement of which the exchange rate of the Euro set by the Bank for the end of the banking day prior to the date of operation/transaction settlement is applied. The Bank is not liable for currency and other risks associated with exchange rate differences.

If you fail to fulfill or incompletely fulfill your obligation, within three business days this information will be provided to the credit bureau where your credit history is formed. Having a bad credit history can negatively affect your creditworthiness in the future. You have the right to receive your credit history report for free once a year from the credit bureau.

Your property may be confiscated by law if you fail to make your interest and loan repayments on time.

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 customer'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 applying for a loan in the amount of AMD 15 million, the Bank will provide you with an Essential Terms sheet for credit lines (overdrafts), which will contain the individual terms of the loan to be provided to you, the tariffs, your rights and responsibilities and the negative consequences in case of not fulfilling your obligations on time. The exchange rate presented in the individual sheet, which may change depending on the date, and the actual interest rate due to changes in the exchange rate and/or repayment schedule, may differ from the loan agreement.

The terms of the individual sheet are valid  within 10 working days after notifying you about the positive decision to grant the loan.

When concluding an agreement, the Bank will provide you with the "Rules for issuing and using cards", which introduces the minimum terms and conditions for safe use of the card.

Place of issuance of settlement cards

The cards are provided at the Bank's Head office Customer Service and in branches of the Bank.

Factors for positive or negative decision on providing a credit limit

The Bank is inclined to provide the credit limit if:

•  The applicant complies with the terms and limiting conditions of the loan,
• The applicant is recognized as creditworthy as a result of the assessment,
• The documents and references submitted by the applicant are reliable and include all necessary information;
• The applicant's credit history is either positive or missing.

Failure to comply with any of the above conditions, as well as other requirements of the Bank's internal regulations, may result in refusal to provide the loan.

Time periods for notifying the customer of the decision to provide the credit limit and for the disbursement.
The decision to provide a credit limit is made within a maximum of 5 banking days, the Customer is notified within one day, the limit is disbursed within 3 banking days.

Your financial directory

Your financial directory , 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/compare-payment-card.

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		AMD 16 million
If you have only a foreign currency-denominated deposit in the same bank		AMD 7 million
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	AMD 16 million (only AMD deposit is guaranteed)
	If the AMD-denominated deposit is less than 7million AMD	AMD 7 million (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 amount of AMD denominated deposits subject to refund).

Location of the foundation: c. Yerevan, Khorenatsi 15 ("Elite Plaza" business center) Phone: 374 10 583514

 

Settlement of disputes
Any disputes and disagreements between the Customer and the Bank shall be resolved first through 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 mediator.

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 ten 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 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) 511 211
  Viber՝ +374 95 511 211
  Skype: conversebank-callcenter