Advantages

MASTERCARD ARMECs STANDARD is designed to satisfy the needs of all customers who want to have a stylist Card, cashback capability in all sales points* in Armenia, as well as credit line with a grace period.

MASTERCARD ARMECs STANDARD enables customers to have the following advantages:

  • 1% Cashback at all payment points*
  • Credit line with a grace period, without any commission fee.
  • Insurance package

*Except utility bills, card to card transactions, online awllets and virtual cards.

General Information
Card account currency
AMD, USD, EUR
Card validity period 5 years
Annual service fee  30 000 AMD per year and / or AMD 3,000 per month
Credit line annual interest rate

AMD 16%,

USD 15%,

EUR 14%

Commission fee is not charged.

Credit line period 24-36 months
Cash withdrawal at ARMECONOMBANK OJSC cash outlets (ATM, POS terminal) AMD-3%,foreign currency, from foreign currency account  3% min 1000 AMD
Cash pay-out at encashment points of other Armenian banks (ATM, POS terminal) 3% min 1000 AMD
Cash payout abroad  3%, min  3 000 AMD

 

More detailed terms of Master  cards extension and service

General Information
N                 Insurance type                                                                                                                Insurance ammount                                                       Non-recoverable amount                                                                                                                
1 Compensation of medical expences

30,000 EUR

(1 year, maximum 30 days)

Not applicable
2 Legal Expenses 3,000 EUR
3 Luggage insurance 800 EUR
4 Civil Liability Insurance 3,000 EUR
5 Flight delay 300 EUR
6 Documents loss 800 EUR
7 Cards insurance from fraud AMD equivalent to 3,000 USD for 1 card
8 Purchased Goods Insurance AMD equivalent to 2,500 USD  AMD equivalent to 50 USD for each and every claim

The grace period is valid until 21st of the following month.

The minimum credit line period is 24 months.

The cashback on the card is accumulated every 12 months from the opening date of the card, on last day of the 12th month.

In case of early termination of the card and early repayment of the credit line the accumulated cashback will be nulled.

The card is provided only with the approval of the credit line.

Updated: 24/01/2019 10:31