Card products terms and conditions

Before you use your Card, please read these terms and conditions carefully. By signing on the Card and/or using it you accept the terms and conditions set out below and undertake to be bound by them.

1.1. "Cardholder" means any individual who has signed the Card Application Form, which is approved by HSBC Bank Armenia CJSC and/or who has signed or used a Card.

1.2. "Bank" means HSBC Bank Armenia CJSC, its successors and assignees.

1.3. "Card" means, as appropriate, the credit or debit card issued by the Bank to a Cardholder.

1.4. "Card Account" means the account opened in the name of the Primary Cardholder for the purpose of use of the Card as per the terms and conditions contained herein.

1.5. "Primary Cardholder" means the Cardholder or legal entity or separated subdivision in whose name the Card Account is opened.

1.6. "Additional Cardholder" means an individual to whom a Card bearing that individual's name is issued at the request of Primary Cardholder.

1.7. "Statement" means a Bank generated monthly statement of the Card Account setting out transaction details, fees and financial liabilities (if any) for the statement period, of the Primary Cardholder and any Additional Cardholder(s) to the Bank in respect of the Card Account.

1.8. "Transaction" means any instruction given to Bank by a Cardholder using a Card directly or indirectly to effect action on the Card.

1.9. "Merchant establishment" means the establishment wherever located which accepts the Card for payments and may include amongst others stores, shops, restaurants, hotels, airline companies, postal services and companies offering mail order services, companies offering services via Interned and accepting Card as a payment means.

1.10. "Personal Identity Number" (PIN) means a personal identity number provided by the Bank to Cardholder, which is necessary for the transactions effected by the Card, and can be changed by the Cardholder.

1.11. "Tariffs" "Card products tariffs and Other conditions" document defined by the Bank.

1.12. "CVV" means a three-digit number embossed on reverse side of the Card.

1.13. "Banking Day" means a day other than Sunday when the Bank is open for processing respective operations. The timeframes for processing the respective operations are available here.

1.14. "You", "Your", "Him", "his", or similar pronouns mean the Cardholder.

2.1. The Card is the property of the Bank and must be returned to the Bank on request by handing it to an authorised member of staff of the Bank at the registered office of the Bank or mailing to any of the Bank's branch offices.

2.2. You must sign on the reverse side of the Card immediately upon receipt, must not permit any third person to use it by safeguarding the Card and Personal Identity Number (PIN) from misuse by retaining them under your personal control at all times. While using the Card and/or PIN you should follow the security rules of Card or PIN use that are available in Security rules for using ATM and Credit Cards section.

2.3. The Card and PIN are issued to You entirely at Your risk, and the Bank shall bear no liability whatsoever for any loss/damage arising from the issue to You or use of the Card or PIN or account number embossed on the Card and/ or CCV code and/or expiry date of the Card however caused unless the cause is the result of the Bank's fault. You also agree that the Bank will not bear any liability for losses incurred by You as a result of unauthorized use of the password mentioned in your Card application by third parties.

1) The Security rules for using credit card (available in website: http://www.hsbc.am/1/2/am/en/personal/credit-cards/security-rules) have been seriously breached and the card data have been compromised or due to Your inattentiveness have been made available to third parties.

2) Transactions are authorized by Chip&PIN technology.

3) You have received notification(s) on transaction made using the Card or You have checked Card account balance and have not advised within reasonable time-frame that the transaction is fraudulent in order to prevent further unauthorized debits from the Card. In such cases the Bank shall not be liable for further transactions as well.

4) The Bank has not been notified about lost or stolen card or unauthorized debits have been done prior to notification.

The Bank shall be liable for the following transactions done by magnetic card or using magnetic stripe, but are not verified by cardholder:

1) The Bank will make full or partial compensation of damages if the Bank, as a result of internal investigations, has classified the transaction as fraudulent and You have been recognized as affected.

2) The Bank will make full compensation for all fraudulent transactions that have been performed after Your instruction to block the Card.

3) The Bank will make full compensation if the fraud has occurred due to the Bank's failure to perform its obligations.

4) The Bank will make full compensation if the Bank has not notified You regarding agreed transactions via SMS in case You have been subscribed to SMS service, which has led to the fraud late detection and has hindered its further prevention.

The Bank does not bear any liability in cases when the Bank sends SMS to You, but You don't receive it because your phone being out of coverage, termination of mobile services, switching off the phone, or of other similar reasons where SMS service failure is beyond the Bank control. The Bank may limit and/or reject transaction(s) performed by Card if the Bank has material suspicions on genuineness of transaction.

2.4. You are requested to note that the Card is valid up to the last day of the month of the year indicated on the Card, if such a date is indicated. You hereby undertake to destroy the Card when it expires by cutting it into several pieces through the magnetic strip and chip or return to the Bank for destroying the card. Your renewed Card shall be sent to the address agreed between You and the Bank, or in case there is not such an agreed address to Your recently updated postal address. The renewed Card is issued to You solely at the discretion of the Bank. Your renewed Card will be destroyed after a month period if it is not possible to deliver it to a recently updated postal address.

2.5. You must enter Your PIN, sign a sales slip, cash advance slip, or other document, if necessary, whenever the Card is used and should retain your copy. Any transaction receipt not personally signed by you but which can be proved as being authorised by you, will be your liability.

2.6. The Card is acceptable at any Merchant establishment that displays Payment System logos available on your Card. The Bank will not accept responsibility for any dealings you may have with the Merchant establishment, but will try to assist you, wherever possible. For this you should notify the Bank of the complaint immediately along with supporting documents. In case if the complaint concerning any Merchant establishment is not resolved, You will not be relieved from any obligations to the Bank.

2.7. The Bank accepts no responsibility for any surcharge levied by any Merchant establishment and debited to your Card Account with the transaction amount.

2.8. You shall not use the Card for any illegal purposes.

2.9. Use of "secure payment" sites should be ensured when using your Card to pay for goods through any electronic media (including but not limited to the Internet, interactive television).

2.10. You will be responsible for all Card facilities granted by the Bank in respect of the Card and for all related charges hereunder, notwithstanding the termination of your agreement with the Bank.

2.11. All transactions effected by the Card are also regulated by regulations of ArCa payments system and/or MasterCard International Inc., which may be amended from time to time.

3.1. The Bank will maintain an account in respect of the Card ("the Card Account") to which the value of all purchases of goods or services, cash advances, fees, charges and payments, as well as Card Account monthly service fees effected by the use of the Card by the Primary Cardholder and any Additional Cardholder(s) will be posted. For posting a transaction made in a currency other than Card Account currency, the respective exchange rate, as at the posting day, of the Bank shall be used (for USD transactions) and the exchange rate established by MasterCard, Inc. shall be used for transactions in other currencies to convert into USD, while USD shall be converted at the respective exchange rate of the Bank.

3.2. The Bank may assign a credit limit to the Card Account, which should not be exceeded at any time. You may, however, apply for a review of the Card's credit limit at any time after six months of Card operation. In such case any change in the credit limit will be at the sole discretion of the Bank. The Bank has a right to decrease Your credit limit at any time based on the review of the Card usage and your creditworthiness by notifying You in advance.

3.3. In the event of Your exceeding the Card's credit limit, in the result of payment of due charges or any other reason, the Bank will be entitled to apply an overlimit fee, at the rate set in the tariffs.

3.4. The Bank generates a monthly statement with the following details:

a) The Statement Date - the date and time on which the statement is generated. If the statement generation date is a non-Banking day or a non-working day as stipulated by RA legislation, the statement is generated on following Banking day and includes the transactions made till that date.

b) Opening Balance - the amount outstanding on the Card Account at the beginning of the reporting period.

c) Date of the Transaction/Operation - the day when the Transaction/Operation has been effected/done.

d) Posting date of the Transaction - the day when the Transaction has been posted/reflected to/on Your Card Account.

e) Payment Amount Due - the total amount outstanding (if any) on the Card Account as at the Statement Date.

f) To be paid by 00.00.0000 (hereafter referred to as The Minimum Payment Due) - the minimum amount (if any) required to be paid, but not yet paid by the Payment Due Date. This amount includes the respective part of the posted transactions and payments, as well as the Overdue and all overlimit amounts.

g) By 00.00.0000 (hereafter referred to as Payment Due Date) - the date by the end of which the Minimum Payment Due must be received by the Bank.

h) Overdue Amount - Minimum Payment Due outstanding from previous Statements. This amount is included as part of the current Minimum Payment Due and is payable immediately.

i) Other details as required by the law or legal acts.

3.5. If you do not receive your monthly Statement it is your responsibility to contact the Bank and pay Minimum Payment Due by the Payment Due Date.

3.6. A purchase and a subsequent credit for cancellation of goods/services are two separate Transactions. You must pay for the purchase transaction as it appears on the Statement to avoid the charging of any fee. The refund will only be credited to your Card Account (less cancellation charges if any) as and when received from the Merchant establishment. If the credit is not posted to your Card Account within 30 days from the date of refund, and if other period is not defined by respective Merchant, you must notify the Bank. It is also necessary that a copy of the credit note should be sent along with your notification to the Bank, as well as other documentation required by the Bank.

4.1. Payments made by draft and/or payment instruction for clearance of Card dues must be drawn payable to the Bank to the favor of your Card Account. Such drafts and payment instructions will be subject to a withdrawal/collection charge at the rate set by the tariffs. Payment received by cash/payment instructions/drafts will be credited to the Card Account by the end of next Banking day following receipt of funds. Payments effected through Automated Teller Machine (ATM), Internet banking and telephone banking services, as well as payments made on non-working days will be credited to the Card Account within next two Banking days maximum.

4.2. The debt generated from the usage of the Card is subject to the payment by You in accordance with the statement provided to You by the Bank. You may repay the Payment Amount Due indicated in the Statement fully or partially (at least Minimum Payment Due mentioned on your Statement). In case of non-cash transactions made within the Card limit with grace period if the payment of the whole Payment Amount Due is received by the Bank on the Payment Due Date inclusive, no interest will be applied. For the amounts of cash advances within the Card limit with grace period and for the amounts of the transactions made within the Card limit without grace period an interest will be calculated at the rate set by the Bank from the date of withdrawal until such amounts are cleared in full and payment is posted to the Card Account.

4.3. In order to repay the Payment Amount Due or Minimum Payment Due you may credit the required amount directly to your Card Account before the Payment Due Date. You may also, for direct debit purposes, credit the required amount to your bank account held with Bank, in which case, depending on Your Direct Debit Instruction, the Bank will debit either the Payment Amount Due or the amount of Minimum Payment Due from your bank account within two Banking days following the Payment Due Date. You can also fulfill the payment by applying/inserting loan code. In this case your payment will be considered to be made in time, if the Amount Due is repaid as of the Payment Due Date.

4.4. If you make a payment to clear the Payment Amount Due after the Payment Due Date, or wish to extend the payment and pay the Bank an amount less than the Payment Amount Due (but at least the Minimum Payment Due) you must pay interest at the rate set by the Bank. Interest is calculated based on 365 days calendar year. Such interest is calculated on all items making up that Payment Amount Due (including utilized credit amount, interests, commissions, service fees and overdue amounts, except for penalties) from the date such items are posted to the Card Account until full payment for them is applied to your Card Account. The interest will be debited on the next Statement Date.

4.5. If the Minimum Payment Due is not paid by the Payment Due Date, a late payment fee will be debited to the Card Account on the following Statement Date as per the Bank Tariff of Charges.

4.6. Irrespective of the currency of the Card Account the interest shall be paid in Armenian Drams (AMD). The interest is normally charged from the Card Account. In case of a foreign currency Card Account, the Bank shall be entitled to convert the respective amount in foreign currency to be charged into AMD at the respective rate of the Bank as at the debit date and charge.

4.7. The foreign currency change may affect your Payments in case of foreign currency credit.

4.8. In case you wish to dispute any Transaction indicated in the Statement, please advise the Bank within 30 days of the Statement date on disputing the Transaction. Dispute of transactions effected earlier than 30 days can also be accepted by the Bank as per ArCa payment system and Mastercard International Inc. regulations. The Transactions effected within ArCa payment system shall be disputed in accordance with ArCa regulations. International Transactions shall be disputed in accordance with the regulations of Mastercard International Inc. (for the details please refer to Mastercard website at www.mastercard.com/us/merchant/pdf/TB_CB_Manual.pdf).

4.9. Duplicate statements will only be provided for up to the last six months on the Primary Cardholder’s request and payment of the fee as per the Bank’s tariffs.

4.10. In case primary cardholder does not pay the debt available on the card account, the Bank has the right to levy the debt amounts in accordance with the RA legislation. The Bank, without any specific communication, has the sole discretion to appoint agents for recovery of outstandings or initiate any other actions allowed by law for recovery of all monies owed to the Bank.

4.11. You are liable for all costs and legal expenses associated with collection of dues.

4.12. The Bank reserves the right at its sole discretion to decide the sequence of repayment of any principal, interest, charges, fees and other amounts owed to the Bank.

5.1. All charges and fees will be debited to your Card Account in accordance with Bank’s Tariffs and the respective payment system rules.

5.2. All cash advances attract handling fee as per tariffs. The charge will be debited to the Card Account along with posting of the cash advance. Cash advances withdrawn will also be subject to an interest. The interest will be debited to the Card Account on the Statement Date.

5.3. All the fees and charges defined under the tariffs and reflected in the Statement will be levied in Armenian Drams (AMD), The fees and charges defined under the tariffs are normally charged from the Card Account, and in case of foreign currency Card Accounts the Bank shall be entitled to convert the respective amount in foreign currency to be charged into AMD at the respective rate of the Bank as at the debit date and charge.

6.1. When requested by the Bank, you shall provide any information that the Bank deems necessary in the manner prescribed by the Bank. You also authorize the Bank to verify the information furnished by whatever means or from whichever source the Bank deems necessary. If the data is not provided or incorrect data is provided, the Bank, at its discretion, may refuse renewal of the Card or cancel the Card forthwith and demand payment of all outstandings on the Card Account.

6.2. You expressly recognize and accept that the Bank shall be absolutely entitled and have full power and authority to sell, transfer or assign any or all outstandings and dues on your Card Account to any third party at the Bank’s choice and written notice by the Bank to you of any such action shall bind you to accept any such third party as the Creditor and to pay over such outstandings and dues to the third party relieving you of any such obligation to the Bank.

6.3. The existence of the Card Account and details of any default that may occur are in accordance with the RA legislation recorded with the CBA loan register as well as are provided to “ACRA Credit Reporting” CJSC.

6.4. You hereby also authorize the Bank to provide at its sole discretion and without prior notice to You any information (including a reference) concerning You and the Card, including details of any default, to HSBC group member companies, third parties that have contractual relationships or provide services to the Bank related to providing or maintenance of the Card, other banks,credit organizations and similar companies, at the latter’s demand or at its own initiative in accordance with the legislation of RA.

You hereby agree, that the Bank shall be entitled to collect Your data and provide to HSBC Group member companies and foreign competent authorities for the purpose of ensuring financial crime risk management activity and tax compliance obligations. The procedure and terms of collection and usage of subject information is stipulated in a document “Collection and use of Customer information (Financial crime risk management and tax compliance) - terms and conditions”, which is attached to these Terms and Conditions as an Appendix and makes inseparable part thereof.

6.5. According to Bank’s principles, internal regulations and Law of RA on Combating Money Laundering and Terrorism Financing the circulation of proceeds of criminal activity through banks is forbidden. In view of the above provisions of the Law and pursuant to requirements of money laundering legislation/regulations and internationally accepted practice, where any suspicions arise the Bank reserves the right to make any inquiry at its sole discretion on the source of any funds credited to, being credited by You or available with the Bank, as well as on any amount being debited from your card account. Respectively, the Bank may request to submit sufficient evidences of the lawful origin of funds. The Bank shall be entitled to restrict or suspend use and/or possession and/or disposal of the questioned funds until presentation/receipt of sufficient evidence. You agree to indemnify the Bank against any losses due to the claims of any third parties in connection with the above mentioned actions of the Bank. You acknowledge and agree that the Bank, within the scope of the legislation of RA, is obliged to comply with the requirements of the laws, other legal acts of the respective countries and those of law-enforcement bodies which, among other things, refer to the prevention of terrorism and criminal activity financing. Neither the Bank, nor any other company acting as a partner of the Bank, is liable for the loss incurred by any person (irrespective of whether such loss is direct or indirect, including the loss of anticipated income or interest payment) if such loss resulted fully or partially from fulfillment of such requirements. Pursuant to legal acts of RoA and Bank’s internal regulations on preventing money laundering and terrorism financing, the Bank shall be entitled to suspend the services provided through the Card - including through blocking the Card or reject the establishment of business relationships or terminate the existing relationships with the Customer.

7.1. In the event the Card is lost, you must immediately report the occurrence to the Bank or ArCa Processing Centre. Loss may be reported by Phone Banking services or by visiting the Bank's branch, and based on your instruction the Card will be immediately blocked. In case You are using USSD service the Card may also be immediately blocked via this service USSD messaging system. If the loss is reported by Internet Banking service, the Card will be blocked within two Banking days.

7.2. Your liability for all Transactions incurred on the Card subsequent to providing a notification of loss (e.g. transactions processed off-line) is restricted to an amount applicable from time to time and as advised in the Bank’s tariffs.

7.3. Should the Bank receive Transactions after the Card has been lost but before receipt of your notification, you are liable for such amounts debited to the Card Account. You hereby undertake to indemnify the Bank fully against any liability, loss, cost, expenses or damages that may arise due to loss or misuse of the Card, in the event that it is lost and not reported to the Bank or lost and misused before the Bank is informed.

7.4. Provided you have in all respects complied with these terms, a replacement Card may be issued at the sole discretion of the Bank at the applicable fee.

7.5. Should you subsequently recover the Card, the recovered Card must not be used without approval of the Bank.

8.1. The Primary Cardholder may request the Bank to issue additional Card(s) to Additional Cardholder(s) for operation on the Card Account.

8.2. The Primary Cardholder acknowledges that the credit limit approved on the Card Account is to cover all Transactions whether initiated by himself or any of the additional Cardholder(s).

8.3. The Primary Cardholder is liable for all transactions, fees, costs and any other charges outstanding on the Card Account at any time including Transactions initiated by Additional Cardholder(s).

8.4. The Primary Cardholder acknowledges that renewed Card(s) may be issued to Additional Cardholder(s) upon expiry without prior notice to the Primary Cardholder.

8.5. The Primary Cardholder undertakes to validate Transactions with the Additional Cardholder(s).

8.6. The Primary Cardholder may cancel the additional Card by written notice to the Bank.

8.7. The Additional Cardholder(s) undertakes to inform the Bank in the event of death, incapacity, insolvency or bankruptcy (or other analogous event or proceedings) of the Primary Cardholder. The Additional Cardholder(s) further undertakes to stop use of the Card on receiving information of the death of the Primary Cardholder.

8.8. In the event of death, incapacity, insolvency or bankruptcy of the Primary Cardholder the Additional Cardholder(s) are jointly liable for all debit outstandings incurred on the Card Account.

9.1. Any relations with respect to Card not regulated under these terms and conditions will be subject to the legislation of RA and where no respective provisions are stipulated under the legislation – by business practice. The Armenian version of these terms and conditions prevails over its English version.

9.2. The disputes between the Bank and the Cardholder are subject to the jurisdiction of the courts of RA. The Cardholder also has a right to submit a claim to the Financial System Mediator in cases stipulated by the law following the steps prescribed in 'What to do if you have a complaint' document provided to the Cardholder. "What to do if you have a complaint" document is being attached to this agreement as an inseparable part of it (Appendix 1). The Bank has waived its right to appeal the decisions of Financial System Mediator if the property claim requested by the Cardholder does not exceed AMD250,000 (two hundred and fifty thousand) or its equivalent in other currency and the amount of the transaction does not exceed AMD500,000 (five hundred thousand) or its equivalent in other currency, which means that the Bank cannot appeal in the court the decisions of Financial System Mediator if the property claim requested by the Cardholder does not exceed AMD250,000 (two hundred and fifty thousand) or its equivalent in other currency and the amount of the transaction does not exceed AMD500,000 (five hundred thousand) or its equivalent in other currency.

10.1. The Primary cardholder irrevocably instructs the Bank to debit the amounts owed to the Bank from other accounts of the Primary Cardholder determining collection deadlines by its sole discretion in case if no sufficient funds are available on the Bank account stated in Your automatic debit instruction. If the currency of such amounts is different from Card Account currency, the Bank shall be entitled to conduct a foreign exchange transaction at the Bank’s respective rate as of the day of the transaction.

The Bank may, without notice, direct the amounts of any deposits which the Primary Cardholder maintains with the Bank to repayment of the Primary Cardholder’s liability in respect of the Card Account and if necessary conduct a foreign exchange transaction for such purposes at the Bank’s respective exchange rate for the respective currencies by determining the charging dates by on its own discretion.

10.2. You will promptly notify the Bank in writing of any changes in your employment and/or residential address and telephone numbers as well as any other information mentioned in the Card Application Form.

10.3. The Bank reserves the right to revise services and benefits offered on the Card, alter these terms, tariffs as well as interest rates from time to time and may notify you of any such alterations in the manner agreed with You in terms stipulated by the legislation of RA.
You will be bound by such alterations unless the Card is returned to the Bank for cancellation before the date from which such alteration is to have effect. In case You do not agree with the revised terms, You have right to early repay all the outstandings on Your Card without penalties and return the Card for cancellation to the Bank, provided that Minimum Payment Dues are paid in accordance with the Statements until the cancellation of the Card.

10.4. You acknowledge that the Bank is not responsible for any of the services provided by third parties.

10.5. Where any suspicions arise as to the authenticity of documents, including Powers of Attorney (including those certified by the Notary) issued by You in favor of third parties for transacting on Your Card Account, the Bank shall be entitled to carry out additional measures for the purpose of checking the authenticity of these documents, and the Customer agrees to indemnify the Bank against liability for any incurred loss due to the delay caused by such actions. In case information or documents required by the Bank for card services usage is not properly provided by you the Bank has the right to suspend card provision services or may suspend credit limit until presentation of required information or documents.

10.6. The Bank has a right to block the services provided through the Card at its own discretion, by notifying you about that, if the Bank has reasonable doubts regarding the authenticity of the transaction(s) made by Card. The Bank will unblock the services provided through the Card after necessary information/documentation or sufficient clarifications regarding the authenticity of transaction(s) are received.

10.7. The Bank has to suspend/block the services provided through the Card at its own discretion, if circumstances clearly evidence that the repayments will not be made duly; and/or the Bank has received a decision about putting hold on or making a confiscation from the Cardholder’s account(s) from authorized bodies as stipulated by RA legislation.

11.1. The Primary Cardholder may terminate the agreement with the Bank at any time by written notice to the Bank accompanied by the return of the Card and Card(s) of any Additional Cardholder(s) cut into several pieces and full clearance of all the outstandings without any penalties. In such case the Bank is obliged to pro rata reduce charges. In case the Primary Cardholder terminates the agreement within seven working days after concluding (period of contemplation), all outstanding amounts, including utilized credit amount and interest (if any) calculated based on annual percentage rate, without any penalties, for the use of credit will be payable to the Bank by the Primary Cardholder. The Primary Cardholder or an Additional Cardholder may terminate the agreement (in so far as it relates to the use of the additional Card) by written notice to the Bank.

11.2. The Bank may terminate the agreement at any time by cancelling the Card without assigning any reason, by further notifying you on this. You are obliged to destroy the Card by cutting it into several pieces through the magnetic strip and chip.

11.3. The notices and Card Statements shall be sent to You at Your last address/details advised to the Bank and in the manner agreed with the Bank. In case of sending notifications via post or document delivery service the Customer will be deemed to be duly advised on the date of delivery of the respective notification to address mentioned by the Customer. The Customer’s failure to receive the Bank’s notification shall not be qualified as non-performance or improper performance of notification obligations of the Bank. If the Customer is not available at the address mentioned by himself/herself, the Customer herewith agrees and instructs the Bank to pass the information sent to that address via post mail to third parties at that address and also undertakes not to make claims against the Bank in this regard.

11.4. The whole of the Payment Amount Due on the Card Account, together with the amount of any outstanding Card transactions effected but not yet charged to the Card Account, will become immediately due and payable in full to the Bank on termination of the agreement for whatever reasons including death, incapacity, insolvency or bankruptcy of the Cardholder. The Bank will become entitled to recover the outstanding dues together with all expenses, legal fees, charges and interest from the successors of the Cardholder on his death without prejudice to its rights to continue to charge the interests and other charges until the dues are settled.

11.5. Any new Transactions presented to Card Account within 45 days after Card closure will become immediately due and payable in full to the Bank.

12.1. For MasterCard and ArCa Cardholders 24 hour Hot Line service is available (the respective phone number is displayed on the back side of the Card).

12.2. For prompt activation of the amounts credited to Card Account MasterCard/ ArCa Cardholders can use the telephone number of Telephone banking service of the Bank for inquiries on the back side of the card, for which a fee set by the Bank tariffs will be applied. The fee will be debited from Card Account.

12.3. Along with certain card products the Bank may from time to time at its own expense purchase for Cardholders insurance policies and You hereby authorize the Bank for the purpose of acquiring the mentioned insurance policies to provide your personal details (name, surname, date of birth, address, passport details) to insurance companies cooperating with the Bank.

Dear customer, this is to inform you that if you have signed the arbitration agreement with the Bank, the disputes arising out of the agreement signed between you and the Bank are subject to settlement by arbitration tribunal. You are deprived of the right to apply to court regarding the disputes arising out of the agreement signed with the Bank. Decisions made by arbitration tribunal normally are not subject to review by the court.

ATTENTION: Dear Customer, please kindly be informed that your rights can be protected both through judicial system and by the Financial System Mediator.

In case of filing a claim to the Court the dispute between you and "HSBC Bank Armenia" CJSC (hereinafter the Bank) will be settled by the court. You can file a claim to the court at any stage of examination of the complaint. The court decision can not be reviewed by the Financial System Mediator.

In case of applying to the Financial System Mediator the dispute between you and the Bank will be settled by the Mediator through the procedure defined by the Law "On the Financial System Mediator" of the Republic of Armenia. The services of the Mediator are free of charge. If you have a compliant, firstly you have to apply to the Bank. The Bank is obliged to reply to your complaint within 10 working days. After the receipt of the response from the Bank you can apply to the Financial System Mediator.

The Financial System Mediator can not examine your complaint, if:

1. the period of 10 working days after the submission of complaint has not expired;

2. you do not claim for any monetary or other property compensation, the amount of compensation claimed by you exceeds AMD 10 million (or its equivalent in other currency); or

3. more than six months have passed since the receipt of the response from the Bank; or

4. the action or inaction complained by you has taken place before 02 August, 2008.

Also please be advised that the Financial System Mediator can not examine your complaint, if it is examined by the court (or by the arbitration tribunal) or there is a court (arbitration tribunal) decision concerning that complaint.