RA Financial Ombudsman’s Office received 23 complaints for transactions with plastic cards in 2010

PanARMENIAN.Net - The RA Financial Ombudsman’s Office received 23 complaints with respect to transactions with plastic cards in 2010.

RA Financial Ombudsman Piruz Sargsyan told a PanARMENIAN.Net reporter that basically the complaints referred to cases when a card balance is reduced during a cash drawing, but ATM does not dispense the funds. “Similar cases are clarified through an ATM log and the funds are reimbursed to the client,” said Sargsyan.

Besides, there are cases, when clients loose their cards with PIN-codes and someone withdraws money from their account. Clients bear similar risks, but not banks.

Sargsyan added that there were cases when more funds were withdrawn from an account than it should have been, while making payments in shops abroad or internet-shops.

It should be noted that funds for compensation of damage for international cards are created abroad, while Armenia lacks similar funds.

According to the Central Bank of Armenia, 2,889,923 transactions with plastic cards were made in Armenia in the third quarter of 2010 at the total amount of AMD 140bln, including non-cash payments through cards at the amount of AMD 10.5bln.

The number of cards in circulation made 681,432 as of the end of the third quarter of 2010.