VISA BUSINESS

The company opens a card account, to which, at the request of the company manager, a Visa Business or ArCa Business card is issued for making cash and non-cash transactions. At its discretion, the company may open several card accounts and attach a maximum of 3 personalized cards to each card account, one of which is the primary card and the other two are supplementary cards. Each card, both the primary and supplementary cards, is issued in the name of an employee authorized by the company. Supplementary cardholders are entitled to use the funds available in the primary card account within the established limits.

Each transaction made with the cards is reflected in the company’s card account and is recorded based on the receipts submitted.

To order Visa Business and ArCa Business cards, the person holding the relevant authority in the organization or another person authorized by the organization, and in the case of an individual entrepreneur, the individual entrepreneur, must visit any of the Bank’s branches and complete the Card Order Application.

After completing the application, the samples of signatures of the persons designated to perform transactions with Visa Business and/or ArCa Business cards must be certified by the Tax Inspectorate, after which the relevant card account will be opened at the Bank and the customer will be provided with Visa Business and/or ArCa Business card(s).

^{1 Unless otherwise specified by the Bank within the framework of salary servicing programs.}

^{*For founders and directors of trade and service outlets that have a cooperation agreement with the Bank for servicing POS terminals and online payments: AMD 5,000 per year.
**For founders and directors of trade and service outlets that have a cooperation agreement with the Bank for servicing POS terminals and online payments: AMD 3,000 per year.
***In case of collateralized credit line and up to AMD 9,000,000 without collateral.
****Issuance of each 3rd and subsequent supplementary card: ArCa Business - AMD 1,000, Visa Business - AMD 3,000.}

For more details, see the full tariffs for the issuance and servicing of Business cards.
See the Terms and Conditions for the Servicing of Payment Cards.

Previous tariffs for the cards.

It should also be noted that Acba bank is the only bank in Armenia that charges a 1% fee, without applying a minimum fee, for cash withdrawals made with this card, as well as with all other Visa cards, from ATMs of any other bank in Armenia. It should also be noted that all of the Bank’s Visa cards are currently chip-enabled, making it almost impossible to counterfeit and use them for fraudulent purposes.

By the way, as a Visa International payment system card, the card is serviced at millions of trade and service outlets and ATMs in more than 200 countries around the world.

1 Unless otherwise specified by the Bank within the framework of salary servicing programs.

You can familiarize yourself with the terms and conditions of the card delivery service here.

To avoid unauthorized use of the Card by third parties, the following rules must be strictly observed:

• ensure the confidentiality of the Card details and PIN code (in the case of Visa Digital/Mastercard Digital First cards, if such a code is available); for this purpose, it is recommended to destroy the receipt containing the PIN code (if available), take all possible measures to prevent the Card details and/or PIN code from being accessible to other persons or recording devices, do not write the PIN code on the Card, in your phone or computer, and do not keep it together with the Card or in any other place accessible to third parties, do not provide the Card or PIN code to other persons, including Bank employees, and ensure the confidentiality of the password registered with the Bank,

• ensure the confidentiality of the password registered with the Bank,

• ensure the confidentiality of the password of the email address registered with the Bank,

• ensure the confidentiality of the code used to verify the authenticity of the Card,

• ensure the confidentiality of the 3D Secure security code sent to you.

Important: Fraud is an act prohibited by the legislation of the Republic of Armenia or the Bank’s internal legal acts, involving the use of deception or abuse of trust and deliberate actions aimed at obtaining personal or property-related benefit.

The Card PIN code is provided according to the option selected by the Cardholder when ordering the card:

in paper form, in which case the PIN code is provided in a sealed envelope,
via SMS message, in which case a one-time six-digit code is sent to the telephone number registered with the Bank for receiving SMS messages, which is used to set a new PIN code through an ATM.

Card reissuance is carried out by the 10th business day of the last month of the card’s validity period.

The decision to reissue the card is made by the Bank based on the volume of transactions made with the card, payments of the card service fee, and the funds available in the account, and in the case of cards with a credit line, also based on the number of overdue days.

The Card is closed within three business days after all previously made transactions with the card have been recorded in the card account, provided that the account balance is sufficient to record the transactions made with the card and charge the fees stipulated by the Bank’s tariffs for them.

The Card can be closed only after all monetary obligations have been fulfilled.

If the Cardholder submits an application to terminate the card’s validity but does not return the card to the Bank, the Cardholder bears full financial responsibility for transactions made with the card after termination of its validity and until the expiry of the card’s validity period that do not require authentication (verification of authorization to perform the transaction).

The Card is retained by ATMs if

after a cash withdrawal/balance inquiry transaction, the customer does not take their card from the ATM,
there is a communication failure or other technical malfunction of the ATM.

In case the Card is retained, you should visit the nearest Bank branch or call (+374 10) 31 88 99 or (+374 10) 31 88 88.

If a Bank card is retained, the customer may receive the card from the branch that retained it by presenting an identification document at the Bank within 3 business days, unless the customer wishes to receive the card at another branch.

If a card of another Armenian bank is retained, the customer may receive the card by presenting an identification document at the Bank within 3 business days. If the Cardholder does not appear, the card is transferred to the issuing bank in accordance with the Bank’s applicable procedure.

If a card of a foreign bank is retained, the Cardholder may receive the card by presenting an identification document at the Bank within 1 business day. If the Cardholder does not appear, the card is transferred to the issuing bank in accordance with the Bank’s applicable procedure.

The Card may be unblocked only if the Cardholder verbally or in writing confirms that the relevant transactions were made by them.

The Bank may unilaterally block the Card if there are overdue obligations related to a loan provided through the Card or other loans at the Bank, until the first business day following the date of repayment of the overdue obligations, as well as in other cases stipulated by the Agreement or the legislation of the Republic of Armenia.

The Bank may block the Cardholder’s Card without notifying the Cardholder if there is a risk of fraudulent transactions being carried out with the Card.

During the term of the Agreement, the account statement and other information required to be provided under the legislation of the Republic of Armenia are provided free of charge. Statements not required to be provided under the legislation of the Republic of Armenia, duplicate statements, and statements submitted to foreign embassies and visa centers are provided as follows:

for a period of up to 6 months (inclusive) - free of charge,
for a period of more than 6 months and up to 12 months (inclusive) - AMD 2,000 (including VAT),
for a period exceeding 1 year - AMD 3,000 (including VAT).

Tariffs for providing statements:

within the business day following the application for obtaining the statement - within the business day following submission of the application at a Bank branch - AMD 3,000; when applying through the acba digital system - AMD 2,000 (including VAT),
on the same business day, within 1 hour - AMD 5,000; when applying through the acba digital system - AMD 4,000 (including VAT),
through the delivery service - AMD 4,000 (including VAT),
provision of a duplicate statement on the same day - free of charge.

The Cardholder has the right to dispute a transaction made with their Card within 55 (fifty-five) calendar days from the date on which the transaction was made.

The Bank provides the Cardholder with a substantiated response within a maximum of 90 (ninety) calendar days from the date of submission of the application.

When disputing transactions, the dispute rules established by the payment systems apply. These are not publicly available documents, and the procedure for their application is presented to the Cardholder by a Bank employee as part of the review of the complaint/application.

If the transaction disputed by the Cardholder is a cash withdrawal transaction, it is subject to satisfaction by the Bank only if the bank servicing the relevant ATM or cash dispensing point acknowledges the fact that the cash was not dispensed.

If the transaction disputed by the Cardholder is a payment, an internet payment, or a payment made by presenting the Card details, it is subject to satisfaction by the Bank if, within the dispute process provided for by the Payment System rules, the Bank recovers the amount of the disputed transaction from the servicing bank.

If, within the dispute process provided for by the rules of the payment system servicing the Card, the Bank decides not to continue the dispute process, but the Cardholder wishes to proceed to the final stage of the dispute process by applying to the arbitration committee of the relevant Payment System, the fees established for applying to the arbitration committee, as well as the expenses incurred by the Bank if the Payment System makes a decision in favor of the other party, are reimbursed by the Cardholder.

The Bank is not liable:

a) for delayed, incorrect, or uncompleted transactions caused by the fault of trade and service outlets or the Payment System, or by technical reasons beyond the Bank’s reasonable control,
b) for the failure of cash withdrawal or payment transactions made using funds not belonging to the Bank, if the Bank was not at fault for the failure,
c) for unauthorized transactions carried out using the Card or Card details, if this was not caused by the Bank’s failure to fulfill its obligations stipulated by the Agreement,
d) for transactions carried out using a microprocessor (chip) card with a PIN code, if this was not caused by the Bank’s failure to fulfill its obligations stipulated by the Agreement,
e) for transactions carried out over the internet, if this was not caused by the Bank’s failure to fulfill its obligations stipulated by the Agreement,
f) for transactions carried out in violation of the security rules stipulated by the Agreement,
g) for disputes arising between the Cardholder and trade and service outlets,
h) for the account, PIN code, Card number, password, and other Card-related information becoming known to third parties for reasons beyond the Bank’s control.

Each month, the Bank informs the Cardholder about the transactions made with the Card during the previous month by providing a statement of the card account.

If the Cardholder fails to fulfill or improperly fulfills their obligations, information about the Cardholder will be provided to the Credit Registry of the Central Bank of the Republic of Armenia and the ACRA Credit Bureau in accordance with the procedure established by the legislation of the Republic of Armenia and the Bank’s internal legal acts.

Upon the Cardholder’s request, in case of termination of the card’s validity, loss or damage of the card, forgetting the PIN code, or other cases, the customer’s own funds available in the account are paid out from the Bank’s cash desk or transferred to another bank account in accordance with the Bank’s applicable tariffs.

In case of loss or theft of the Card or Card details, or an attempted or fraudulent transaction with the Card, the Cardholder undertakes to block the Card through the acba digital internet banking system or immediately visit the nearest Bank branch to submit an application for blocking the Card, or call (+374 10) 31 88 99, (+374 10) 31 88 88, or (+374 10) 59 22 22.

In case of loss of the Card, theft of the Card or Card details, or an attempted or confirmed fraudulent transaction with the Card, the Cardholder bears full financial responsibility for transactions made with the Card before notifying the Bank about the loss of the Card, theft of the Card or Card details, except for transactions that do not require authentication (verification of authorization to perform the transaction), for which the Cardholder bears full financial responsibility until the expiry of the Card’s validity period if the Card is not returned to the Bank when the Bank is notified of the theft of the Card details or an attempted/fraudulent transaction with the Card.

For more detailed information on the Card usage and security rules, see here.

“YOU HAVE THE RIGHT TO COMMUNICATE WITH THE FINANCIAL ORGANIZATION IN YOUR PREFERRED WAY, BY POSTAL OR ELECTRONIC MEANS. RECEIVING INFORMATION ELECTRONICALLY IS THE MOST CONVENIENT. IT IS AVAILABLE 24/7, FREE FROM THE RISKS OF LOSING PAPER INFORMATION AND ENSURES CONFIDENTIALITY.”