YEREVAN, January 27. /ARKA/. Converse Bank CJSC has sealed a contract with Armenian labor and Social Welfare Ministry on payment of pensions by non-cash transactions - via bank accounts or ArCa Toshak (Pension) cards, the bank’s press office reported on Wednesday.

Converse Bank will serve pensioners’ accounts and cards for free.

Money from accounts will be withdrawn for free in the bank’s offices or from ATMs, and 3% will be added to the balance every year.

Those pensioners making their shopping in trade outlets by using their Toshak cards will enjoy up-to-30-percent discounts.

Converse Bank also offers “Toshak” time deposit to pensioners with 12% annual interest.

Converse Bank was registered on December 20, 1993.

Eduardo Eurnekian, Argentine entrepreneur of Armenian descent, holds 95% of the bank’s shares.

The remaining 5% belong to Armenian Apostolic Church.

Converse Bank has 28 branches with 600 employees in 13 cities of Armenia. -0-