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ArCa Pension

ArCa Pension payment card  with magnetic tape is provided to pensioners FREE OF CHARGE.

 

 

  • Currency

    AMD

  • Annual service fee

    Free of charge

  • Cash withdrawal from ATMs and POS terminals of ARARATBANK OJSC

    0%

Service fees
Transaction type Rates*
Card currency AMD
Card validity period 2 years
Required balance N/A
Annual card service fee (AMD) free
Linked card annual service fee (AMD) N/A
Card issuance at the Bank’s head office within a banking day (AMD) 2,000 
Annual interest accrued on the card account positive balance 1% 
Cash withdrawal without card at ARARATBANK cash desk 0% 
Cash withdrawal at ATMs and POS terminals of ARARATBANK 0%
Cash withdrawal at other banks’ cash withdrawal points, ATMs and POS terminals 0,5%
Commission fee charged for card-to-card transfers** 0,15%**
Provision of new PIN code through ATM (AMD) free
Card reissuance in case of its loss, damage and loss of PIN code (AMD) free
Provision of statement   free
Current month’s statement (AMD) free
Statement via e-mail (AMD) free
Card blocking (AMD) free
Card unblocking (AMD) free
Total maximum number of cash withdrawal transactions permissible per day 30
Total maximum number of transactions permissible per day 30
Maximum total amount per transaction (AMD) 300,000
Maximum total amount of cash transactions permissible per day (AMD) 500,000
Maximum total amount of transactions permissible per day (AMD) 1,500,000
Cash-in through ARARATBANK ATMs  0%
Cash-in through ArCa system ATMs 0%
SMS banking service for making Internet- based transactions via 3D Secure system free
SMS messages on executed transactions (AMD) free

*Including VAT

**The mentioned services are provided free of charge for the first case, and later according to the commission mentioned in the table

***Please be informed that in addition to commission fee charged for transfers at ARARATBANK service points (including the online platform), an additional fee of the relevant Servicing Bank is also applied, which shall be charged at the time of transaction and shall be added to total amount of transaction

  To other banks’ cards
From the Bank’s card 0.15% 0.15%
From other banks’ cards 0.2% 0.2%

Furthermore, a Servicing Bank’s fee, the size of which is established by the Bank concerned, may also be applied in case of card-to-card transfers through ATMs, terminals or other online platforms of “Armenian Card” system member banks.

 * *including VAT

Commission fee charged for cash withdrawals from AraratBank POS terminals by cards issued by other banks 2% of withdrawn amount

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

 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․
Required documents
  • Passport
  • Social security card
  • Pension certificate (in case of retirement age absence)
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.
Attention

Please follow the Armenian version

Necessary information

Under the signed agreement pensioners are provided an opportunity to receive their pensions through ARARATBANK ArCa Pension payment card. 
Pensioners must personally visit the Bank once a year or submit a notarized document testifying their well-being.

Financial assistant
ABC finance

Page updated 21.01.2022 | 10:10

In case of discrepancy between Armenian and English versions of the information, the priority is given to the Armenian version.