A variety of plastic cards of various banking institutions is enormous.Among them are debit, credit, overdraft card.The advantages and disadvantages of each type are different.What unites them is largely only that each card has an annual service, which depending on conditions can be different amounts.Basic information on each plastic card below.
types of plastic cards
Debit Card - This card is one of the banks with reference to your account there.Use of funds from the account is carried out within the allowable amount.Debit card functionality with very simple issue.To do this, you need to provide only their own internal passport and fill up a bank account.Debit cards are widely distributed, as many employers register them for their employees and list all non-cash payments.
credit card issued in the department of one of the banks in confirming the borrower's financial capacity to repay the funds used by the credit institution.Terms of use of loan funds vary interest rates, the availability and duration of the grace period and other factors in accordance with the terms and tariffs of the selected bank.
What is overdraft cards?
overdraft card is called so due to the combination of two previous types of plastic cards.The main feature is that it is available for registration only if it transfers your payroll.Please write off expenses is precisely their own funds on the card, and only in cases where the amount in the account is insufficient to pay for the used overdraft.What is overdraft cards?In essence, an overdraft - a short-term loan.Short-term overdraft called because repayment takes place next month in the payroll.
history overdraft
Original Russian banks to provide services only to legal entities overdrafts.Companies in the event of a situation where their p / s is empty, can use the facilities of the bank for the payment of its obligations to other entities.At the time of receipt of funds to the account of the bank wrote off part of them on account of repayment of the debt, and the rest remained in the account.
In the future, the service was developed in retail banking, and became known as "overdraft for individuals."Driving the provision and use of borrowed funds is identical to the scheme of service companies.Simplistically bank overdraft can be described as follows.
Lack of finance when paying → Using overdraft and payment of goods / services → Quenching with transferred funds to the account of the employer
Map Sberbank functional overdraft
What is overdraft cards you have read above.Sberbank - is the most common and reliable bank in Russia, so many it becomes interesting what Overdraft map of Sberbank of Russia.Let's start from the beginning.
What is Overdraft card of Sberbank of Russia?This salary card of an individual connected with the functional overdraft (short-term bank borrowing money).
Card Overdraft Savings Bank issued when accessing a bank branch and the provision of a package of documents (if the salary you currently get through third-party banks).
- Application for this service.
- your passport.
- employer certified copy of the work book.
- Statement of income or statement of account with another bank.
If your company is already served by the Savings Bank, and the card in your hand, the activation of the service will be much easier.Refer to the bank branch with a passport and a map, and any employee of the Savings Bank will be able to connect a functional.Terms
cards with overdraft
Like any banking service, with a functional card overdrafts granted on certain conditions.In the case of borrowings in the amount of bank overdraft interest charges.In the Savings Bank interest rate is 18% per year.The rate is low at first glance.However, there is important information the client needs to be taken into consideration.
- Exceeding the limit is fraught with increase in interest rate to 36% per year.
- maturity date funds are limited in time and amount to 1 month.Originally intended for this type of cards that the receipt of funds on your name is not less than 1 time per month.
- Overdraft does not provide for Grace-period (when the interest for the use of not calculate).
Card Overdraft Savings Bank.How do I know the limit?
What is overdraft cards Sberbank of Russia, you know.And how do you know the limit?The Bank calculates an overdraft limit for each client individually.The amount of overdraft, according to the rules of the bank, for individuals is not more than 50% of monthly income.For legal entities it is calculated on the basis of the average value of profits in recent months (six months).The amount of the overdraft will be 40% of this value.
also a limit on the map can be found through the online service Sberbank.The personal account, you will see information on the amount of overdraft, debt and be able to assess their costs through a bank statement.
overdrafts and loans
If we compare the conditions for obtaining consumer credit and overdraft on salary card, the borrower will be profitable for the first option.Interest rates and loan amount is more beneficial, especially if you plan to purchase expensive equipment or goods whose value exceeds the limit of overdraft.
Credit cards also can be seen as more favorable compared to the overdraft, especially if damping occurs during the grace period.Since the interest the bank in this case does not pay.
Terms overdraft
person to contact the bank with a statement on the overdraft must meet certain requirements of the credit institution.
- continuous service shall be not less than 6 months at the same place and at the time of treatment should consist of an individual in an employment relationship with the employer.
- You should not have outstanding loans at the moment.Bank overdraft willingly provide clients with positive credit history.This requirement is at the discretion of the bank in accordance with the internal documents of the service of individuals.
- Bank may impose requirements relating to registration.For example, it gives the customer an overdraft, which is addressed to a bank branch in the region of residence.
- Other requirements regarding income individuals and organizations.
Disadvantages overdraft cards
If used a significant portion of the overdraft limit, salary credited to your account may not be enough for its complete extinction.And the timing of payment of arrears of overdraft card very strict, 1 month.So we have a strong save for the next month, a report on their own funds from other sources.This is extremely inconvenient.After all, if this is not done, the overdraft will not close, and accrued interest will already be 36% for the remainder of the debt.So you end up significantly overpay.
for using the service to pay the overdraft, as well as for the maintenance of your account.The amount of the overdraft is automatically deducted from the card once a year.Fines and penalties for late payment charged to the client, not from the accounts of the organization, not just listed your salary.
Advantages cards with overdraft
What is overdraft cards and what are their benefits, read on.The main advantage it can be called the requirements to obtain it.Especially if you are already a member of the Savings Bank of the salary project.Card with an overdraft limit, usually issued for payment systems VISA and MasterCard are not lower than the standard level (the so-called social cards do not provide availability and connectivity overdraft).
timely payment of debt on overdraft and transfer of funds in time to your current account - a guarantee your peace of mind.In this case, the overpayment for the provision of short-term loan will arise, and will close the overdraft (nulled).Continued use of the proceeds with the default settings: 18% per annum and to pay 1 month.
Tips holders overdraft cards
Learn about the services available on your card in several ways:
- handling the accounting department of the employer;
- in your account the bank's online service.
To avoid additional costs associated with the payment of accrued interest, fines or penalties, you must constantly monitor your debit account.Some terminals (ATMs) may show the total amount of available funds, including the overdraft and accrued wages.
Operations on removal of funds or payment for goods / services to make better the next day after the charges, it is not always money - accrued wages - come at the expense quickly.There may be technical problems, and the write-off will occur at the expense of an overdraft, as its amount is always at your disposal.
