Special Conditions for Insurance Agents
The Bank has established special conditions for issuing debit and settlement cards for participants of the agent network of insurance companies cooperating with the Bank.
The conditions apply to private individuals and sole entrepreneurs whose data will be provided to the Bank by the company with verification of a valid agency agreement concluded between the company and the respective person or with a statement that the latter, being the head or manager of the agent network, receives bonuses from the sales by an agent group.
The agents who, according to the list of data submitted by the Company, do not yet have volumes of insurance sales and received bonuses, the Bank will provide only debit cards or settlement cards with a maximum limit of AMD 100,000 (without analysis of the income).
When determining the settlement card limit, the Bank may take into account the salary received from another employer of the Agent or other income based on the criteria specified below, if the latter provides the Bank with an evidencing document for the income.
| N | Type of Service | ArCa Classic | VISA Electron | VISA Classic, MasterCard Standard | VISA Gold, MasterCard Gold |
| 1. | Card currency | AMD | |||
| 2. | Validity term of the card | 36 months | |||
| 3. | Provision of the card and opening of the card account | AMD 0 | |||
| 4. | Card service monthly fee11 | AMD 250 | AMD 500 | AMD 1,000 | |
| 5. | Provision of cash at encashment points and ATMs of the Bank /With credit limit without a grace period and for debit cards/ |
AMD 0 |
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| 6. | Provision of cash at encashment points and ATMs of other ARCA system member banks |
1% |
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| 7. | Provision of cash at encashment points and ATMs of banks that are not members of ARCA system |
AMD 0 |
1%, minimum AMD 1,500 |
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| 8. | Maximum limit of credit line without grace period/overdraft |
Up to ten-fold of the average monthly bonus* + three-fold of other net income /salary/ |
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| 9. | % accrued on the used portion in case of limit without grace period /annual/ |
1% |
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| 10. | Revision of the limit size | AMD 3,000 | |||
| 11. | One-off fee for provision of credit line/overdraft |
1% |
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12. |
Procedure of repayment of overdraft without grace period |
The interest is accrued towards the used credit limit on daily basis. On the day preferable for the customer, the latter is obliged to repay the interest accrued to the used portion of the credit limit as of that day. The customer has the opportunity to repay the accrued interest 15 days before the interest payment deadline. | |||
| 13. | Permission to use the Internet Bank system22 |
AMD 0 |
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| Other conditions | |||||
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14. |
Customer |
18-63 year old private individual citizen and/or resident of the RA, a sole entrepreneur who is an insurance agent according to the list approved by the insurance company, or has income from the sales by the agent supervised by it. | |||
| 15. | Limit | Minimum AMD 100,000, maximum AMD 3,000,0000 | |||
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16. |
Creditworthiness evaluation |
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17. |
Required documents |
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* The average monthly bonus is calculated on the basis of the bonus received during the last one year.
1 It can be paid on monthly or annual basis.
2 The system makes it possible to view all banking accounts opened at the Bank, to follow their current status, to print out and download statements from personal accounts, as well as make transfers and other transactions with card and savings accounts.