The followings are terms of issuance and service of MasterCard Standard, MasterCard Gold and Cirrus/Maestro plastic cards issued by the Head Office and branches of “Anelik Bank” CJSC, as well as service of card accounts:

MasterCard Standard, MasterCard Gold and Cirrus/Maestro debit or credit plastic cards are issued to both resident and non-resident physical persons.

The card is given to the client in two days after application of the client to the Bank and signature of the service agreement. The card is effective since the moment being given to the client and may be used by the client.

Together with the card the client is given PIN code containing envelope. The PIN code should be used exceptionally by the client and the client shall assure unavailability of the PIN code for any other person. The PIN code is not recommended to keep with the card. Cards are usually given for 2 years period. If card service termination written request is not received by the Bank within 30 days before expiration of the effective date of the card, the card will be re-issued for another 2 years. Card account currency may be Armenian dram, Russian Rubles, US dollars and EUR.

When performing any foreign currency operations (if card account currency differs from card operation currency) exchange rate set by the Bank shall be applied

The client may claim to the Bank within 15 days after receipt of account extract if any discrepancies are found in it. If no claims have been received within the mentioned period of time the Bank may deem the extract as received. The claim shall be submitted in written. The claim should be executed by the Bank within the set period of time by performing all related actions set by the rules of MasterCard international payment system.

The cardholder shall immediately inform (on the phone) the Bank and/or the Processing Center of Armenian Card in case of loss of the card. Once the Bank is informed on the loss via phone, the card activity shall be suspended. Within 5 days after suspension of the card activity the cardholder should visit the Bank to submit written application on the loss of the card. Based on the application the Bank shall issue new card within 2 working days.

Based on the written application of the cardholder the Bank may terminate the service of the card and close card account. Balance of the card account is given to the cardholder. The Card should be returned to the Bank.

The card holders will enjoy up to 50% discount when making non-cash purchases at about 500 stores and service points all-around Armenia.  List of stores can be found at the following link: LIST

Card issuance and service tariffs are as follows:

• The Bank enjoys the right to unilaterally change the size of interest paid against funds existing on the account, by informing the client 15 days before they become effective.
• The Bank enjoys the tax agent right to calculate and pay tax on profit (10%) from the interest received against facilities available on the account.
• Any disputes arisen between the Bank and the client shall be settled through negotiations.
• Disputes arisen between the Bank and the client may be resolved through Financial system mediator (in accordance with the order provided by RA Law “On financial system mediator”) or at commercial arbitrage (in order provided by RA Law “On Commercial arbitrage).