Hot Line +37410 511 211

Visa Virtual Account

Visa Virtual Account

VISA virtual account is a debit payment card, intended for payments and purchases in the internet.  


Visa Virtual Account






Used only for online transactions
Visa Virtual Card cannot be used for making payments that may require a physical card at the time of final approval.



Period of validity


60 months
24 months (in case of anonymous cards)



One-time service fee1
For the entire validity of the card


For resident clients- 1,000 AMD
For non-resident clients- 25 000 AMD


Commissions from non-cash transactions



Daily maximum limit for non-cash transactions

1,000,000 AMD; 3,000 USD; 2,000 EUR; 100,000 RUB

Can be modified based on to the customer's application

Additional account provision
Additional Visa Virtual Account opened with the same account.

Cash deposit to the card account at the bank cash desks

500 AMD

RUB according to daily quotation


Depositing funds to the card account through the bank's payment terminal

on site, in the bank's structural subdivisions


Outside the Bank's structural subdivisions


100 - 50,000 AMD - 100 AMD
50,001 - 200,000 AMD - 200 AMD


Transfer from card to card through the bank's "Payment Portal" system

To ArCa, Visa and Mastercard cards of ArCa member banks


To Visa and Mastercard cards of non-ArCa member banks

0.5% 2+ (1%, minimum 500 AMD3

Card to card (by another method) transfers4


Cash withdrawal from card account


Transfers from one card account to another


Penalties applicable to amounts exceeding the payment threshold

0.13% of the excess amount for each day of default

Submitting unreasonable reversal application5

5,000 AMD

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

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

Virtual account blocking, unblocking


Maximum preparation and delivery time


In case of submitting all necessary documents:
5 working days in the branches located in Yerevan city
10 working days in branches outside the city of Yerevan
The card is activated within 1 day


1The service fee is charged once, at the time of issuing the card, for the entire validity of the card. In case of early termination of the contract, the service fee is not refundable.
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.
4 It is also possible that the servicing bank may apply additional fees.
5The 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.

General terms and conditions

Extra card

The Bank may issue one or more additional virtual cards in the name of the cardholder or the persons designated by the cardholder in advance upon providing reliable information on additional cardholders.

  • The additional card can only be used by the person in whose name it was issued.
  • The amount of all operations/transactions made with additional cards is charged from the main card account.
  • In case of closing the main card, the additional cards are also closed.
  • The cardholder who is also the holder of the account is responsible for operations/transactions made by the additional cardholder, including for overcharge.

Rules on card issuance and use

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:

Safety rules

For security reasons, it is recommended:

  • 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.

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 an alert for unauthorized use of the card

In case of 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:

1.By calling the phone number listed on the Card.

2.By calling the Bank with 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.

3.On Bank's non-working days and hours

by calling "Armenian Card" CJSC (37410) 592-222.
4.Sending a corresponding written message to [email protected], or by fax (37410) 511-212.
5.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.

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
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, within 2-3 working days.

2.As a rule, transfers from the card account and from other banks become available to the card, within the following time limits:

  • until 12:30 on the given working day, if the amount has been deposited or the transfer has been received by the Bank by 11:00 of the same working day,
  • until 16:30 on the given working day, if the amount has been deposited or the transfer was received at the Bank by 11: 00-15: 00 of the same working day,
  • until 18:30 on the given working day, if the amount has been deposited or the transfer has been received by the Bank by 15:00-17:00 of the same working day,

3. The amount deposited in the card account at the Bank's cash desk, and amount deposited to card via terminals, as well as the transfer to card from bank account via the Bank's Internet and Mobile Bank systems (except transfers from the card account) normally becomes available within 5 minutes (providing there are no technical or software issues at ArCA processing center).
4. On the first 3 working days of each month, transaction amounts may become available to the card later than the specified time.
5. Funds may also be credited to the card account using the options provided by the payment and settlement systems (transfer from card to card, e-wallet to card, depositing cash to card by ATM, etc.), in which case the amount can be activated immediately or within the time limit envisaged by payment system for the given method of crediting cash. If the cash is credited to the card account, the date credited is the operation/transaction's recording date. As a rule, such transactions are recorded within 1-3 working days.
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.
A card overcharge may arise due to the particular features of some types of transactions, the time periods of the transaction presented by the servicing bank, or due to software problems, or reversals/repayments made by the service point, or commission fees set by the Bank, foreign exchange transactions, etc.

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 cardholder has overdue obligations to the bank,
  2. The cardholder failed to make timely payments as established by the tariffs,
  3. relevant written notice is received from competent authorities with an instruction to apply blocking,
  4. monitoring carried out by the bank to detected suspicious, fraudulent, illegal operations/transactions or transactions deriving therefrom.

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

  1. The cardholder has paid the overdue obligations,
  2. the cardholder has made the payments as established by the tariffs,
  3. relevant written notice is received from competent authorities with an instruction to apply unblocking,
  4. Verbal or written explanations received in relation to suspicious, fraudulent, illegal operations/transactions or transactions deriving therefrom detected by monitoring carried out by the Bank, confirming the non-fraudulent nature of these transactions.

The bank has the right to block the card if the card details (card expiration date, CVV code) are entered incorrectly several times in the online environment.

Card reissuance

1.The cards are subject to re-issuance if the card details have become available to third parties or at the end of the validity period, by changing the card number, CVV code and the validity period (according to the validity period defined by the card).
2.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.
3.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.
4.The process of re-issuing cards is implemented and finalized within the reporting month.
Additional cards and cards issued to non-resident customers are not automatically reissued.

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.
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.


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 the direct or indirect damage caused to the cardholder due to the reasons that the card is not serviced on any website or due to the failure of such websites.
  3. for damage caused to a cardholder through 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.
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 statement1 Except for periodicity prescribed by RA legislation:
- dating back to up to 3 years - 1,000 AMD
- dating back to more than 3 years - (if stored in the Bank) - 3,000 AMD
  • Statement1 for submitting to different institutions
- For accounts opened within a month2 - AMD 5,000
- For 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
- Up to 3,000 AMD
for transactions dating back up to one month - 5,000 AMD for transactions dating back to more than one month
  • Transaction support documents and copies of other documents (for each document)
- For a period dating back to 1 month - AMD 1,800
- dating back to 1 year -AMD 3,000
- dating back to more than year - AMD 12,000
Tariffs for other services (including VAT)
  • Mail delivery of statements or other documents
 Within the Republic of Armenia and Artsakh - 0
 International
- the tariff set by the delivery service organization when it is defined by law and teh agreement,
- in other instances - the tariff set by the delivery service organization + 1,500 AMD
  • Delivery of references or other documents via Ordered mail shipping

-Within the Republic of Armenia and Artsakh - 3,000 AMD
- International Tariff for the service set by the delivery service + 3,000 AMD

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 banking / Converse Mobile -
My Converse -
SMS - Converse /

ATMs and cash pointsList of bank ATMs:
List of bank branches:

  List of required documents


Application form


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


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

 In case of currency exchange upon making transactions in trade and service outlets outside the ArCa  system, in currency other than card account currency, upon currency exchange, the Bank charges 1% 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 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 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 ( ), 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, is an electronic system combining services offered to individuals that makes it easy to search, compare and find the most effective option for you

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 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 5 million AMD and the difference between the amount of deposits subject to refund)


Location of the Fund: 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
  • 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 01.06.2021 17:40