Dear customers

 

Changes have been made to the General Terms and Conditions of Banking Services, which you can find at the following link.

The terms and conditions clarify the terms and conditions for processing the personal data of customers, as well as the grounds for processing their personal data. The changes also clarify the lists of data received by the Bank through "EKENG" CJSC and "Nork Social Services Technological and Awareness Center Foundation". The details on the procession of personal data by the Bank are presented in the Personal Data Privacy Policy published on the Bank's official website.

The Client gives his/her consent for the Bank to process (collect, fix, enter, coordinate, maintain, use, etc.) his/her personal data allowing for the direct or indirect identification of the Client under the law of the Republic of Armenia “On the T are available in the Non-Disclosure Rules published on the Bank’s official website .

A description of the changes is provided below.

 

3.19.1    The date of starting the procession of the Clients' personal data of shall be deemed: 
1.    the moment a potential Client turns to the Bank to transfer, of his her own will, the information on his/her personal data;
2.    the date the Client signs the application-offer on the identification, communication and declaration of the persoan data pertaining to individual customers and the establishment of contractual relations; 

3.19.2    The Bank shall process the Client's personal data subject to any of the following grounds if available:
1.   with the the Customer's or his/her representative's consent (if stipulated under the power of attorney);
2.    for the performance of the obligations as part of the liabilities under the contractual relations;
3.    for the protection of the vital rights of the client or any other person; 
4.    for the performance of tasks stemming from public interests or the implementation of the official authorities vested in the authorised agency;
5.    for the protection of the legitimate interests pursued by the Bank. 

For a client Client who has no capacity or has limited capacity, or has not reached fulll legal age, the Client's legal representative shall give consent for the procession of his/her personal data.  

3.19.3  The Client shall be entitled to recall his/her consent. In the event of recalling the Customer's consent – with an authenticated signature or electronically (authenticated via an electronic digital signaturej), the Bank shall terminate the personal data procession and destroy the data unless any of the grounds set forth in Clause 3.19.2 is in place. 

14.3    The Customer hereby consents to the Bank to  disclose information that constitutes banking secrecy relating to the Customer to the relevant  state (or) local self-government bodies of the Republic of Armenia and (or) authorized bodies of a foreign state (hereinafter referred to as the authorized body) and (or) persons designated by the latter  in cases and in accordance with the applicable procedure established by the laws and regulations of the Republic of Armenia, including, but not limited to the Chapter 80.2 of the Tax Code of the Republic of Armenia, the Foreign Account Tax Compliance Act, as well as the Common Reporting Standard as set forth by the Organization for Economic Cooperation and Development, international and (or) other interstate legal acts.

 

Best regards,
Ardshinbank