Araratbank Starts Issuing MasterCards
26.06.2008,
02:16
Araratbank has started issuing plastic cards of the MasterCard international system.
YEREVAN, June 25. /ARKA/. Araratbank has started issuing plastic cards of the MasterCard international system.
The bank’s Public Relations Department reports that the bank will issue Gold, Business, Standard and Maestro cards. Araratbank offers favorable terms of service on Armenia’s market.
Cards of all four types will be issued free of charge. Annual service fee is 30,000 AMD for Gold cards, 20,000 for Business cards, 10,000 for Standard cards and 4,000 for Maestro cards. From September 1, 2008, discounts will be set for plastic cards of the last two types.
The minimum balance requirement is 40,000, $100 and €100 for Gold cards, 30,000 AMD, $100 and €80 for Business cards, 3,000 AMD, $10 and €10 for Standard cards, and 2,000 AMD, $5 and €10 for Maestro cards.
No commission charge for getting cash by means of Gold and Standard cards at Araratbank’s ATMs has been set. As regards Business and Maestro cards, the commission charge is 0.2% of the sum received. Card holders using other banks’ ATMs will pay a commission charge of 0.8%.
An annual interest rate of 3% will be accrued on the balance of accounts on the cards. As regards overdrafts/credit lines, the annual interest will reach 18% for Standard cards and 16% for Gold and Business cards.
Araratbank Executive Director Ashot Hosipyan said earlier that the bank plans to issue up to 30,000 plastic cards this year and record the third largest number of cards in Armenia’s banking system. The bank has so far issued a total of 14,000 plastic cards.
Araratbank, legal successor of Armcommunicationbank, was founded on September 2, 1991. On October 31, 1996, the bank received License No. 4. Last August the bank was transformed to an open joint-stock company. By March 31, 2008, the bank’s assets had amounted to 26.2bln AMD, capital 5.1bln AMD. In the 1st quarter of 2008, the bank’s profit totaled 216.9mln AMD. –0--
The bank’s Public Relations Department reports that the bank will issue Gold, Business, Standard and Maestro cards. Araratbank offers favorable terms of service on Armenia’s market.
Cards of all four types will be issued free of charge. Annual service fee is 30,000 AMD for Gold cards, 20,000 for Business cards, 10,000 for Standard cards and 4,000 for Maestro cards. From September 1, 2008, discounts will be set for plastic cards of the last two types.
The minimum balance requirement is 40,000, $100 and €100 for Gold cards, 30,000 AMD, $100 and €80 for Business cards, 3,000 AMD, $10 and €10 for Standard cards, and 2,000 AMD, $5 and €10 for Maestro cards.
No commission charge for getting cash by means of Gold and Standard cards at Araratbank’s ATMs has been set. As regards Business and Maestro cards, the commission charge is 0.2% of the sum received. Card holders using other banks’ ATMs will pay a commission charge of 0.8%.
An annual interest rate of 3% will be accrued on the balance of accounts on the cards. As regards overdrafts/credit lines, the annual interest will reach 18% for Standard cards and 16% for Gold and Business cards.
Araratbank Executive Director Ashot Hosipyan said earlier that the bank plans to issue up to 30,000 plastic cards this year and record the third largest number of cards in Armenia’s banking system. The bank has so far issued a total of 14,000 plastic cards.
Araratbank, legal successor of Armcommunicationbank, was founded on September 2, 1991. On October 31, 1996, the bank received License No. 4. Last August the bank was transformed to an open joint-stock company. By March 31, 2008, the bank’s assets had amounted to 26.2bln AMD, capital 5.1bln AMD. In the 1st quarter of 2008, the bank’s profit totaled 216.9mln AMD. –0--
