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Visa Business

 Visa international payment system

  • Annual service fee
    5 000 AMD
  • Currency
  • Card issuance

Get your Visa Classic card and have permanent access to your funds, Visa Classic cards are accepted in all ATMs, trade and service points worldwide, as well as in the web space. You can receive the card within 2-5 business days after submitting application. Card account opening is free. 

The page was updated 26.11.2019 16:40

Visa Business cards 

Visa international payment system

Approved by resolution N -L of the
Management Board of “IDBank” CJSC dated June 17 2021
Applied starting June 21, 2021

The terms mentioned in the bulletin can have been amended.
If you are reading the bulletin on the website of the Bank, please pay attention to the action date of the information bulletin.
If you are reading the bulletin on the territory of the Bank or in a paper form, please visit the Bank’s website at for detailed information (paying attention at the action date of the information bulletin), apply to any branch of the Bank or call the Bank’s Call center at 010 593333 or 060 273333.


Card type Visa Business
1. Card currency AMD, USD, EUR, RUB
2. Card issuance within 2-5 banking days[1] Free of charge
3. Card validity period 5 years
4. Urgent card issuance within one banking day[2] AMD 5,000
5. Card account opening Free of charge
6. Annual card account service fee[3][4] AMD 5,000
7. On-decreasing balance on card account Not defined
8. Interest rate calculated on the positive balance of the card account Annual simple interest rate Annual percentage yield
0% 0%
9. Provision of an additional card Free of charge
10. Annual service fee for the additional card AMD 2,000
11. Card blocking Free of charge
12. Card unblocking Free of charge
13. Card re-issuance for cards with expired validity period Free of charge
14. Provision of a card duplicate in case of damaged, unusable, lost/stolen card or PIN code (with the same card validity period) AMD 2,000
15. Import of card in international STOP list (for 7 days in one region) AMD 10,000
16. Export of card from international STOP list Free of charge
17. Monthly provision of card account statement at the premises of the Bank, by e-mail Free of charge
18. Additional provision of card account statement at the premises of the Bank or by mail[5], by e-mail AMD 1000
19. Activation of SMS notification service Free of charge
20. Fee per SMS notification [6] Free of charge
21. Card account replenishment AMD, USD, EUR – free of charge

RUB – according to tariff defined by the Bank for the given day
22. Cash withdrawal from Bank’s ATMs and cash points AMD – 0.2% ,
Foreign currency – 0.5%
23. Cash withdrawal from ATMs and cash points of other banks of ArCa system 1%
24. Cash withdrawal from ATMs and cash points of non-member banks of ArCa system and foreign banks 1.5%, minimum AMD 1,500
25. Cash withdrawal from card account without using the cards AMD – 0.2% ,
Foreign currency – 0.5%
26. Card to card transfers Through ATMs and virtual cards 0.5%
For transfers through online platforms from card accounts of cardholders who have passed synchronization to cards of ArCa system members 0.5%
For transfers through online platforms from card accounts of cardholders who have passed synchronization to other Bank cards Free of charge
27. Commission from non-cash transactions Free of charge
28. Daily cash withdrawal limit [7] AMD USD EUR RUB
5,000,000 10,000 10,000 600,000
29. Daily number of cash transactions 10
30. Card account closure and return Free of charge

[1]Activation of the card is performed according to the “Payment Card Service Rules” of the Bank (hereinafter referred to as Rules) at the following link Rules through the ATMs of the Bank.
[2] Urgent provision of the card is performed only in Vardanants branch of the Bank located at 13 Vardanants St., Yerevan, RA, phone numbers +37410 593333 , +37460 273333.
[3] The annual service fee defined for the first year of operation of the card can be not charged with the consent of the competent body/person of the Bank.
[4]The annual card service fee is charged from the card account which is based on the exchange rate defined by the Central Bank for the given day.
[5]Provision of the statement on and outside the territory of the R$A is performed at the frequency and method defined by contracts concluded between the Client and the Bank. Moreover, the sum of the postal service and the commission fee defined by the Bank for provision of relevant tariffs must be available on the Client’s card account.
[6] The Service is valid for transactions that amount to AMD 5 000/USD 10/EUR 10/RUB 1 000 or over.
[7]Depending on the specifications of the client’s business activity the mentioned limits can be changed based on the client’s application without any decision.

General conditions

1. The cards of the Bank are settlement cards and are designed for cash withdrawal, replenishment and non-cash operations/transactions with the funds owned by the cardholder at the expense of the funds available on the Cardholder’s card account and credit line/overdraft provided by the Bank.
2. Visa Business card is provided to RA resident and non-resident legal entities and private entrepreneurs.
3. Commissions subject VAT taxation also include the VAT.
4. The Bank has the right to unilaterally change the amount of interest paid against funds available on the account by publishing it on the Bank’s official website 15 days before it enters into force.
5. Interest calculated on the balance of the card account is accrued on a monthly basis.
6. Interest on the funds available on the card account is accrued for calendar days for the period starting from the day following the deposit of funds until the day preceding their return to the Client or withdrawal of funds from the Client's account on other basis.
7. Attention – Interest against funds available on the Client’s account is calculated based on the nominal interest rate. And the annual percentage yield indicates the income of the Client to be received as a result of making mandatory deposit payments and receiving the earned interest amounts at defined intervals. The order of calculation of annual percentage yield can be found at the following link: Annual percentage yield calculation.
8. In case of PE client disputes arising between the Bank and the client are regulated through negotiations between the parties. Disputes arising between the parties can be settled  through the Financial System Mediator (in an order defined by the RA law on “Financial System Mediator”) located at Elite Plaza” Business Center, 7th floor, 15 Khorenatsi str., Yerevan 0010, Armenia, tel. (+374 60) 70-11-11. Fax (+374 10) 58-24-21, e-mail:
9. For the purpose of proper study of the client as defined by RA law on “Combating money laundering and terrorism financing” the Bank may require additional documents or information based on “Know Your Client” principle.
10. According to the agreement with the USA based on the Foreign Account Tax Compliance Act (FATCA) the Bank may collect additional information for the purpose of identification of the fact of the client being a US taxpayer.
11. To activate SMS notifications and e-mail address it is necessary to visit any of the branches of the Bank (with an identification document) and fill in the corresponding application form.
12. As needed the Card can be delivered on the RA territory at the client’s preferred address in  case if the amount required for the delivery service is available on the client’s card account given that the Bank has such a tariff defined.
13. In order to activate and use the Card the client is required to insert the card in the ATM of the bank and select to “Activate the card”. After that the one-time activation code will be sent to the client’s phone number registered in the Bank, after inputting of which in the ATM of the Bank the client will be required to create a PIN code for the card be entering a four-digit number. The PIN code must be used only by the client, as well as the latter must ensure that the PIN code is not available to other people. The activation can be done both through the Bank’s ATMs and all those ATMs on the RA territory which provide such an opportunity.
14. The Card is activated by the Bank within 1 (one) business day after the Cardholder receives the card and performs the abovementioned actions.
15. Transactions through the card can be performed both in the card account currency and in a currency other than that of the card account at the exchange rate defined by the Bank for the given transaction day.
16. The Bank does not bear any responsibility for damage caused by the difference of exchange rates as a result of conversion of the transaction amount to the card account currency.
17. Account owner’s rights to dispose of the card account and funds therein can be limited by a court decision based on requests submitted by judicial acts compulsory enforcement authorities or tax authorities.
18. Confiscation of funds from the account without the account owner’s instruction can be performed by a court decision based on requests submitted by judicial acts compulsory enforcement authorities or tax authorities.
19. In case of loan liabilities between the Bank and the account owner the funds from the card account shall be charged without notice in accordance with the procedure provided by the loan agreement.
20. All the commission are charged in AMD. The commissions defined for foreign currency cards are charged at the sales exchange rate defined by the Bank for the given day.
21. The client has the right to communicate with the Bank through a preferred means of communication: e-mail of regular post. The electronic means of communication is the most comfortable. It is available 24/7 and is free of the risk of losing information in paper as well as ensures confidentiality.
22. In case of discovering inaccuracies in the transactions related to the account within 15 days after receiving the account statement, the client may submit an appeal to the Bank. If no such appeals are received within the mentioned period, the Bank shall deem the statement as accepted. The appeal shall be submitted to the Bank in a written form. The Bank accepts the received appeal for processing within the prescribed period by carrying out corresponding actions as defined by rules of local and international payment systems.
23. In case of loss of the card, the client must notify via telephone or other possible means of communication as soon as possible:
- “Armenian Card” CJSC Processing Center by dialing (010) 592222 24-hour telephone number or 
- call the Contact Centre of the Bank by dialing (010) 59 33 33 24-hour telephone number or
- visit any branch of the Bank with an identification document.
At the moment of notification of Client about the loss of the card via telephone, the performance of transactions on the card will be immediately suspended. The Bank shall not be liable for any damage caused to the Cardholder between the loss of the Card and notification of the Bank about it. After the card is suspended, the client must visit the Bank and provide a written statement about the loss of the card, on the basis of which the Bank will provide the client with a new card within 2-5 banking days. For details, see the "Payment Card Service Rules" at the following link: Rules.
24. The servicing of the card can be terminated and the card account can be closed ahead of time based on the written application of the cardholder. The balance available on the card account shall be return to the client. 25. The card is subject to return to the Bank.
Provision of add-on cards:
- The Cardholder (Main cardholder) can receive add-on card(s) in addition to his/her card (main card) both for himself/herself and for a third person.
- The add-on card can differ from the main card type but must be of equal or lower category than the main card.
- The transactions performed with the add-on card are registered and reflected in the card account of the main card.
- By applying to the Bank, the Main Cardholder can set daily cash withdrawal limits, limits on the number of transactions and cash withdrawal transactions for the add-on card.
- The liabilities formed as a result of all the transactions performed with the main and add-on cards are considered as Main cardholder’s liabilities.
- In case re-issuance of the add-on card the consent can be provided by the Main cardholder, as well as the cardholder of the add-on card.
- The additional cardholder(s) undertakes to inform the Bank in case of death, disability, insolvency or bankruptcy of the Main cardholder and not use the card if such information if he/she has such information.
26. While performing cash withdrawal from ATMs and POS terminals of other banks the serving bank may charge additional commission fees.
27. While making card to card transfers from ATMs of other banks the serving bank may charge additional commission fees.
28. The 3D Secure information security system is applied while implementing transactions through cards issued by the Bank in the virtual environment. While performing transactions with the card it is necessary to pay attention to the identifiers approved by the payment systems (Verified by Visa in case of Visa, Mastercard SecureCode in case of Mastercard, ArCa SecurePay in case of ArCa). 29. The Bank bears no responsibility in case of failure to receive the 3D Secure security passcode for technical or any reason not related to the Bank’s activity, as a result of which the transaction will fail.
30. The list of branches and ATMs of the Bank, as well as the addresses and hours of operation of the latter can be found at the following link: Branches and ATMs.
31. Remote servicing by the Bank is provided thought the IDBanking online systems of the Bank. The order and tariffs on rendering remote servicing are presented in “Public terms on remote banking services”.
List of documents required for receiving a payment card:
- Payment card application
- Identity documents of managers of the executive body and entities authorized to perform transactions with the account 
- Public services number or reference on absence of PSN
- Statement from state unified register
- In case of notaries, certificate of service and (or) appointment order
- Other documents as required
32. Other provisions on card usage, maintenance, ensuring security and appealing against card transactions which have not been defined in this information bulletin, are defined in the ) Rules, agreement concluded between the Bank and the Cardholder on issuing, provision and servicing of payment cards by the Bank, internal legal acts and rules of payment and settlement systems (ArCa, Visa, Mastercard).
33. The Bank is obliged to provide the client with the Rules while concluding an agreement with the latter.
34. The client must not be included in the list of unwanted clients of the Bank. The legal relations related to classification of clients as unwanted for the Bank are regulated by the Procedure on “Defining the criteria of classification of a client as unwanted and management of relations with them”.
35. In case of Pes, refundability of funds available on the card account is guaranteed in accordance with the RA law “On Guarantee of Remuneration of Bank Deposits of Physical Entities”. 

Reimbursement of bank deposits of physical entities in “IDBank” CJSC is guaranteed by the “Deposit Guarantee Fund of Armenia” in the amounts of deposits subject to reimbursement, particularly:
Currency structure of deposit If you hold only a bank deposit in AMD in the same bank If you hold only bank deposit in a foreign currency in the same bank If you hold bank deposits both AMD and foreign currency in the same bank
If the deposit in AMD exceeds 7 million AMD If the deposit in AMD is less than 7 million AMD
Maximum amount of guaranteed deposit 16 million AMD 7 million AMD 16 million AMD (only the deposit in ADM is guaranteed) 7 million AMD (the bank deposit in AMD will be guaranteed in full, and the bank deposit in a foreign currency will be guaranteed in the amount of the difference between 7 million AMD and the bank deposit in AMD subject to reimbursement)


The page was updated 12.07.2021 09:58
The following documents should be presented to the Bank to get  Visa Business:

  •  ID document

  • Social card

  • Other required documents

The page was updated 24.11.2017 12:17
Attention: The Bank does not bear any responsibility for the inaccuracy of information on the linked web sites, nor does it accept any responsibility for the advertisements therein or possible consequences arising out of use of information provided on the linked web-sites. In case of any discrepancies in the website materials in Armenian, Russian and English languages, the Armenian version is prevailing.