Armeconombank Arca magnetic stripe cards will no longer be serviced

Armeconombank Arca magnetic stripe cards (without a chip) will be serviced until June 2026 inclusive. 

The bank reported that due to the above, it has become necessary to replace Arca magnetic stripe cards with chip-embedded (EMV) cards.

To have your card reissued free of charge, it is necessary to visit any branch of Armeconombank with a valid identification document.

“The terms of use for chip cards remain the same as those for magnetic stripe cards. Transactions with chip cards are more secure and also enable the convenience of contactless payments,” the bank reported.

Armeconombank is supervised by the Central Bank of Armenia.