YEREVAN, March 1. /ARKA/. The Russian-owned Areximbank-Gazprombank Group announced a new service available to its clients which is called TEMPO. It provides an additional opportunity to customers to receive money transfer handled by all remittance systems, without visiting the bank, as well as the possibility of an overdraft, depending on the frequency and amounts of payments.

"The new service allows to have the remittance transferred to customer’s Visa Electron or MC Maestro cards via a telephone call throughout the trading day," the bank said in a statement.

Plastic cards are issued at the head office o any branch of the bank free for a period of 2 years. Conversion of remittances to USD or drams is made with special preferential exchange rate of the bank.

According to the statement, the overdraft is available to those customers who use TEMPO service to receive at least 3 remittances within four months regardless of the amount.  Overdraft is provided at 20% interest rate per annum. Interest are accrued only on the actually used amount.

Areximbank-Gazprombank Group (formerly Areximbank) was established in 1998 to handle financial flows between Armenia and Russia. It is a principled member of VISA International and MasterCard International payment systems. In 2007 it joined Armenian ArCa payment system. ($ 1 - 388.75 drams). -0-