ArCa Pension

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ArCa Pension

Under the signed agreement pensioners are provided an opportunity to receive their pensions through ARARATBANK ArCa Pension payment card.
ArCa Pension payment card is a plastic card of ArCa system to be issued to pensioners free of charge. This mode of pension payment will provide you with a number of opportunities:
Convenience – transferred funds can be immediately withdrawn from ARARATBANK ATMs or in any branch free of charge. Please be informed that ARARATBANK branch network includes branches and owns ATMs;
Saving – up to 50% discount in more than 100 trade and service outlets, dental clinics and hospitals;
New and nice design, new advantage – 5% discount in GEDEON RICHTER pharmacy chain;
Moreover, up to 3% per annum will accrue on the positive balance of the card account.

High-quality service - our professional specialists will be glad to answer all your questions.

Submit the card, once you receive it, to the territorial center of state social security service in your place of residence, fill in the application specifying the name of ARARATBANK and number of the card account.

Pensioners must personally visit the Bank once a year or submit a notarized document testifying their well-being.

Cash withdrawal from ATMs and POS terminals of ARARATBANK OJSC

0%
Annual interest rate accrued on the positive balance of the account

3%
Annual service fee

Free of charge
Currency

AMD

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Service fees

TRANSACTION TYPE	RATES*
Card issue	Free of charge
Card account opening	Free of charge
Card account processing	Free of charge
Required balance	N/A
Annual service fee	AMD 0
Annual service fee of additional (linked) card	AMD 0
Annual interest rate accrued on the positive balance of the card account	3%
Cash withdrawal from ATMs and POS terminals of ARARATBANK OJSC	0%
Cash receipt from ARARATBANK cash-desk without a card	1%, AMD 500 min
Cash withdrawal from ATMs and POS terminals of other banks	0,5%
Issue of a new card with the same period, in case of loss, damage of the card (main or linked)	AMD 900**
Issue of a new card in case of loss of PIN code	AMD 700**
Account statement	Free of charge
Additional account statement	Free of charge
Card blocking	Free of charge
Card unblocking	AMD 0 - in case the card is confiscated by the Bank’s ATM AMD 200 - in case the card is confiscated by ATMs of other banks
Number of daily transactions	10
Maximum amount per transaction	AMD 300,000
Total maximum amount of the transactions executed within one day	AMD 500,000
Card-to-card transaction through internet	0.3%
SMS messages on executed transactions, on card expiry, on annual service fee	AMD 30

Number of daily transactions does not apply to the number of underground journeys.

* *including VAT

ArCa Pension ArCa retirement card is provided for 2 years

Commission fee charged for cash withdrawals from ARARATBANK POS terminals by cards issued by other banks

2% of withdrawn amount

Required documents

Passport
Social security card
Pension certificate (in case of retirement age absence)

Conditions

Upon receipt of the card the customer shall:

sign on the reverse of the card
sign both the Agreement and notification
sign in the field designated for PIN code

The issued plastic card and the card account shall be active from the moment the card has been issued

Dates for crediting funds to card accounts:

Funds credited to accounts between 17:30 of the previous business day and 9:30 of the following business day shall be activated by 10:30 of the given business day․
Funds credited to accounts between 09:30 and 13:30 of the given business day shall be activated by 14:00 of the given business day.
Funds credited to accounts between 13:30 and 17:30 of the given business day shall be activated on the same business day within an hour․

Important to know

If you enter your PIN incorrectly three times, the ATM will automatically confiscate your card. In case your card is confiscated, you have to apply immediately to the bank, which owns the ATM or you can give a call to ARARATBANK at 54 23 23.
When you get your card you have to put your signature in a corresponding field. Lack of signature or its mismatch to the original one is a legitimate basis for rejecting to implement an operation with your card and for confiscating it.
When you get your card you have to sign in a corresponding field. The lack of signature or its mismatch to the original one is a legitimate basis for rejecting your card service as well as for confiscating it.
PIN code is required to get cash from ATMs and to execute transactions via electronic terminals.
If you lost your card or for any reason it was confiscated by ATM, you must immediately inform ARARATBANK about the loss of your card by calling at 54 23 23 or ArCa payment system center at 59 22 22.
While executing transactions in USD, EUR, AMD, RUB and GBP through MasterCard/VISA system cards issued by ARARATBANK, the bank exchange rate as of the transaction date shall be applied while calculating transaction amount, transactions in other currency shall be calculated following MasterCard/Visa system rules.
Cardholders may file a complaint on transactions reflected on the statement within 30 days after they have received the statement. The statement shall be deemed agreed with a cardholder, if the latter has presented no objection during the mentioned period. Any claims raised by the cardholder, the latter shall apply to ARARATBANK head office or any of its branches with passport and fill in the transaction complaint, after which the Bank shall carry out relevant examination and submit written substantiation on accepting or rejecting the complaint no later than within 60 days after the complaint has been received.
In case the card is lost, the Cardholder shall immediately inform the Bank. Based on the Customer request and on the account of the Cardholder funds, the Bank can place the Card in the block list of international settlement system until the card expiry or for certain periods. Cardholders shall bear the risk of adverse effects of the transactions (including unauthorized transactions) executed by effective card within the period the card hasn’t been placed in the block list of international settlement system based on the Customer request and on the account of the Cardholder funds and in case Cardholders fail to inform the Bank about the card loss.
The Bank shall not be held liable for the losses incurred by cardholders as a result of fraud transactions executed by card through internet, POS terminals, ATMs and/or technical means and/or virtually․
The Bank shall not be held liable for the losses incurred by cardholders, if the card occurs in the hands of other person, if the card or card data (including card number, card account number, card password, PIN code and CVV code) become known to other persons.
The Bank shall not be held liable for the losses incurred by cardholders due to malfunction of the internet, ATMs, POS terminals and connection breakdown or other technical problems, except for cases when cardholders withdraw funds from POS terminals or ATMs but do not actually get the money, though the funds have been de facto debited from the card account.