One of the main conditions for an overdraft from Sberbank is the establishment of a certain limit on withdrawals of funds. For individuals, this amount can vary from 1 to 30 thousand rubles.

One of the main conditions for an overdraft from Sberbank is the establishment of a certain limit on withdrawals of funds. For individuals, this amount can vary from 1 to 30 thousand rubles. In each specific case, the limit is determined individually after assessing the client’s financial capabilities. Note! The bank has no right to increase the limit without your consent!

In addition, for the occurrence of an overdraft, Sberbank will charge interest (their amount depends on the currency of the card). Exceeding the overdraft limit will result in increased interest. The overdraft debt must be repaid in full by the client by the end of the next month, after which he used the funds.

How to activate an overdraft at Sberbank?

An overdraft can be activated at Sberbank after signing an agreement with the client for the provision of such services. Only the client who has provided the bank with evidence of his solvency can apply for an overdraft. The proof can be an official income certificate, an assessment of the turnover of funds on the card, or the presence of a deposit in the bank.

Sberbank often offers clients the opportunity to connect an overdraft service to a salary card.

How to use Sberbank overdraft?

You can use an overdraft using your card at any time convenient for you, making non-cash payments on your account or when withdrawing funds from an ATM. As soon as your own funds on your debit card run out, you can automatically start using overdraft (credit) cards. This can be very convenient for clients who do not plan to borrow funds from the bank for a long time. You simply pay your bills, pay in shops and supermarkets and don’t worry about running out of money.

Overdraft write-off in Sberbank

The cost of overdraft services on debit cards for individuals at Sberbank is 18% per annum for ruble cards. The commission in dollars and euros is 16% per annum. Moreover, if you exceed your spending limit, in this case the interest rate will immediately be increased to 36% per annum in rubles. Therefore, you should be careful when using funds on a card. Interest will be charged on the amount that was actually spent on the overdraft. If there are not enough funds on your card on the day the payments are written off, it is better to take care of replenishing it in a timely manner.

Overdraft for legal entities at Sberbank

Overdraft services from Sberbank are often used by legal entities when there is not enough money in the current account of an individual entrepreneur or legal entity to pay clients or pay for services. The bank allows an overdraft in the case when there is a constant movement of funds on the current account. As soon as the money is returned to the entrepreneur’s account, the bank automatically withdraws the amount of funds issued to the client, as well as the interest established for this service. A legal entity can enter into an overdraft agreement directly with the bank.

Debit card with overdraft from Sberbank

Today, many Sberbank clients successfully use overdraft on their debit card. This is quite convenient, since (unlike using a credit card) here the client pays only for the actual period of use of the borrowed funds. In addition, getting such a card from a bank is much easier than applying for a cash loan, and much more convenient - you don’t need to come to a bank branch. You simply use the money and are not afraid that the card will “run out” at the most inopportune moment.

Overdraft on Sberbank salary card

A salary card with an overdraft limit is the most common version of a debit card with an overdraft. Such cards are not issued independently: the client receives them as part of a salary project in which his employer takes part. The overdraft limit will depend on your salary and is usually a relatively small amount of funds (the limit on a credit card will be much higher).

An overdraft for an ordinary person is just a way to take advantage of the opportunity to go into the red, if necessary, and return the borrowed funds in the near future (when receiving a salary).

How to disable Sberbank overdraft?

There are many Sberbank clients who are wary of the overdraft service and prefer not to have the opportunity and temptation to use “not their own” money. In other words, take out loans. In fact, the overdraft service at Sberbank is not disabled. However, you can protect yourself from surprises in the form of interest charges on an overdraft you thought you weren't using. To do this, it is enough to indicate a zero overdraft amount in the application when receiving the card. No one will be able to increase this limit without your consent.

Overdraft is one of the types of short-term lending. The tool is designed to solve short-term financial problems caused by late receipt of funds into the account. See how to choose the appropriate type of overdraft and use it profitably.

What is overdraft in simple words

An overdraft is a transfer in excess of a loan, an overspending (from the English overdraft). Simply put, this is a debit of more money than is currently available in the account. Typically, this situation arises when there are cash gaps - for entrepreneurs, or when individuals use a card linked to an account, when the transaction on the account exceeds the balance of funds on it.

Difference from loan

An overdraft differs from a loan in the following ways:

• its size usually does not exceed the amount of receipts to the account for one or two months;
• the accrued interest when providing this service significantly exceeds the credit interest and can reach tens of percent per annum;
• accrued interest and penalties are written off last (see also).

Download and use it:

How to avoid mistakes when using overdraft

The overdraft amount is usually small compared to the turnover on the company's current account, and its non-repayment is usually a consequence of the bankruptcy of the enterprise or fraud. Therefore, from the point of view of banks, this is a credit product with a reduced level of risk and the conditions for it are softer.

Late payments can ruin a company's credit history. As a result, you can get a refusal on a large loan that took six months to prepare due to a delay of 1000 rubles. Therefore, before signing an agreement, you should carefully analyze its terms and possible risks.

The main mistake when using an overdraft is an attempt to use it to solve the regular problem of a lack of working capital. With intensive use of this credit product, you may feel that the overdraft significantly affects the company's turnover, although this is not the case.

Also, one of the most common mistakes is the desire to get the highest possible overdraft limit. It feels like very easy access to a significant amount of money. However, we must not forget that the period for returning this money is quite short. If the receipts to the company account are uniform, with an overdraft limit of 25 percent of average monthly turnover, it takes 5.5 banking days to fully repay the selected limit. With a limit of 50 percent, it will take 11 days. It is important to make all payments in advance to avoid delays.

It is advisable to separately formulate the rules for using an overdraft in the credit policy of the enterprise.

As a rule, the more evenly the company's receipts into the account are distributed over the days and the more frequent they are, the lower the required overdraft limit, which allows you to solve short-term problems.

Overdraft for individuals

Formally, a bank overdraft is possible on any card - both credit and debit. But usually it is provided for a debit card. This is a connected service, the so-called permitted overdraft. The bank lends a certain limit of money to its client for a short period of time, which makes it possible to make the necessary purchase or make a payment if there are not enough funds in the account. Usually the limit does not exceed the amount of income on the card for one or two months.

Microoverdraft

Due to the fact that the amount is relatively small compared to legal entities, some banks call it a microoverdraft. It works as follows. Let’s say the overdraft on the payment card account was 10 thousand rubles. Three days later, funds in the amount of 50 thousand rubles were credited to the account. The bank immediately writes off 10 thousand and closes the debt, then, according to established formulas, calculates the interest for the use of funds and also writes it off.

Technical overdraft

In addition to the permitted one, an unauthorized or technical overdraft is also possible. That is, the service is not formally provided, but circumstances may arise when more funds are debited from the account than is in it and the account goes into the red. Banks have different views on this. Interest is charged on the amount of overspending, and possibly even a significant fine. It is noteworthy that the Civil Code in this case is on the side of the bank; Article No. 1107 is devoted to this.

Why is overdraft dangerous?

When applying for a card at any bank, you should separately clarify the issue of overdraft. The fact is that some banks may include it in the list of available services, but do not notify the cardholder about it. If the card holder actively uses it - shopping in stores, online shopping, processing money returns, then he is not able to constantly add and subtract incoming and debited amounts. Therefore, there may be unnoticed overspending that will go unnoticed by the cardholder.

How to avoid overdraft

To avoid bank overdraft, it makes sense to use credit cards with an interest-free period, subject to repayment within a short period of time. Typically banks set a period of one to two months, but options are possible. In addition, you should constantly monitor the balance of funds on the card and not approach a zero balance. It is worth replenishing your card account when it drops to a certain level, keeping the so-called “minimum balance”.

Many clients, coming to the bank in order to obtain credit funds, receive an offer from employees to apply for an additional overdraft service for a credit or debit card. But what is an overdraft? What are the differences between this bank card option and a regular credit limit - borrowers often have no idea.

In simple words, overdraft is the provision by the bank of credit funds to the cardholder at interest for a short period of time at the moment when the maximum limit of the client’s credit card is completely exhausted. Please note that there may be an overdraft on a credit card, a salary card or just a debit card; in this publication we will consider all possible situations.

What is an overdraft?

From English, the term overdraft is translated as “exceeds planned” (overspending). The bank provides the opportunity for the holder of a credit or salary card to spend not only the money that is in the account, but also a little more, as if to “go into the red.” Overdraft is a service that has similar features to a loan, but the conditions for such lending are still different. In this article we will tell you what the main differences between an overdraft and a regular credit loan are.

The bank provides an overdraft to the user of a salary or credit card if he is confident that he will not have to wait long for funds to arrive on the client’s card account. For example, this is a salary card that receives money from the employer every month. If we talk about an overdraft for legal entities, the bank will be happy to provide such a service to a legal entity whose active company accounts constantly receive funds for settlements.

Why do you need an overdraft?

Let's figure out why this is necessary? For example, the client had unexpected expenses: the washing machine or refrigerator broke down. There are 1.5 weeks left until salary, and during this time there is no desire to experience inconvenience, and the purchase will still have to be made. Therefore, if a consumer wants to get what he needs right now, he will have to take out a loan from a bank, use it and repay the debt from his first salary. If there is an overdraft on a credit card, the client does not need to go to the bank to apply for an additional loan, the overdraft will allow him to make the necessary purchase, and as soon as the funds arrive to the client’s account or card, the amount of the overdraft debt along with interest will be automatically written off. for its use. The second advantage of such a service is the fact that the interest for using an overdraft will be relatively small, since this service is provided for a short period of time.

For these two reasons, many consumers of banking products often use an overdraft - it is convenient and not too expensive. If you belong to the category of citizens who regularly use credit cards, this service should definitely interest you.

What are the differences between an overdraft and a regular loan?

Some clients mistakenly assume that an overdraft and a classic loan are identical banking products, because they have common rules: money is provided for use for a certain period, and interest is charged for this, but in fact these two products have significant differences. Let's take a closer look at the differences between an overdraft and a regular loan:

1. Loan amount - the amount of overdraft on a credit card, as a rule, is not higher than the amount that is credited to the account or card per month. A loan can be taken out in a large amount, and the loan amount can be several times more than the client’s monthly income (the main thing is that the monthly payment should not be more than a certain amount of the borrower’s monthly income).
2. Loan term - if the loan is provided for a long period, calculated in years, then the overdraft is issued for a short-term period, and in most cases it must be repaid within 30 to 60 days (each bank has its own conditions for the repayment period).
3. Interest on the loan - with an overdraft, the interest rate will be higher, but the overpayment will be less than with regular lending. This is due to short terms, so consumers perceive the interest rate on an overdraft psychologically more calmly, although it is higher than on standard loans.
4. Payments - in most cases, the overdraft amount is returned to the bank in one payment, but if the next receipt on the card is not enough to pay off the entire debt, then the balance will be written off from the cash receipt the next month. And the loan must be repaid in equal installments, regardless of how much money is in the client’s account.
5. Speed ​​of loan issuance - to obtain a regular loan or credit card, the client needs to collect the necessary package of documents and contact the bank to sign an agreement. But he will not receive the declared amount immediately - the bank needs time to consider the application and check the papers. Sometimes this procedure takes several days or even weeks.

When a client chooses an overdraft service, he receives money as soon as he needs it, since he already has a line of credit and the bank knows about the client’s solvency.

How to connect an overdraft to a salary or credit card?

If you want to use the overdraft service, you should contact the bank and write a corresponding application. In most cases, this is enough to obtain borrowed funds on “negative” terms. Some banks require you to provide an additional package of documents: SNILS, INN, etc. One way or another, to receive an overdraft the following conditions must be met:

1. The client must have a permanent job.
2. Money must pass through your card or account regularly. In other words, there must be constant receipts over a certain period of time. Each bank determines this period individually.
3. The client must not have any debts to the bank.
4. Registration (registration at the place of residence or stay) of the client in the same territory where the bank is located.

What overdraft limit can the bank provide?

After considering the submitted application, the bank’s scoring service makes a decision on the amount that the client can borrow “at a minus”, that is, the bank sets a certain overdraft limit for each client. Credit experts are considering this issue using a credit scoring system.

As a rule, overdraft is directly related to the amount of funds received on the card on a regular basis, and the higher the financial turnover on the card or account, the greater the overdraft will be provided to the client.

Banks also take into account the economic situation in the country, so during periods of crisis there is a high probability that the borrower may remain unemployed; accordingly, the overdraft limit for a debit or credit card is set on average to a lower value. In addition, the agreement with the bank to provide an overdraft has time restrictions, most often this period ranges from 6 to 12 months. Practice shows that the client’s financial situation may change during this period, so the borrower will need to contact the bank again and write an application to connect the overdraft service.

What is a technical overdraft?

If the client has spent all the funds from his account or debit/credit card, exceeding the established limit, then a so-called “unauthorized” overdraft (technical) occurs. And here the client must understand that the interest on this “loan” will be completely different - if for an authorized overdraft the bank sets, for example, 20% per annum, then the interest on using the technical overdraft amount can be 50-60% per annum, and for the repayment of this The amount is allocated for a short period of time - no more than a few days. If the client does not repay the amount within the specified period, he may be subject to punishment in the form of a significant fine.

Typically, a borrower cannot simply borrow “extra” funds, since the bank does not allow the client to go beyond the previously established overdraft limit. But still, in practice, there are situations when a technical overdraft occurs:

1. Errors in the bank- for example, the same amount was mistakenly credited to the client’s card account twice. When an error is detected, the funds are automatically debited, and if an overdraft occurs during this time interval, the limit may be exceeded.
2. Dynamics of exchange rates— if the client makes a purchase from a ruble card in euros, dollars or another currency, then the debit will be calculated at the current rate. If before the client repays the debt, the exchange rate increases, then the loan amount will increase, and as a result, the debt may exceed the limit, then a technical overdraft will occur.
3. Unconfirmed transactions— If the borrower made a purchase using the card, and after that the money was written off for another transaction that had already been completed, then he can also go into a technical overdraft.

Is it profitable to use an overdraft?

This type of loan is beneficial to both the user and the bank. The borrower has the opportunity to receive additional funds from the bank at any time, and he does not have to tire himself of searching for several thousand rubles when an urgent need arises. There is also no need to come to the bank, write an application and collect the necessary package of documents. Everything happens automatically. The consumer can use the bank's money at any time of the day, even at 5 am, if he does not have enough money to make a purchase in a hypermarket.

The bank also benefits from providing an overdraft. Firstly, he gets a client with a stable salary, and secondly, there are stable guarantees that the money will be returned. This loan product allows the bank to increase the number of clients willing to use loan funds for a certain percentage. Not all consumers like loans, but using an overdraft is simple and convenient, so this service is always in demand not only by credit card users, but also by holders of debit or salary cards.

Disadvantages of overdraft - what is important to know!

There are also quite a few disadvantages to this type of banking service. The consumer pays quite high interest rates. In addition, there are additional temptations for new purchases, since with an overdraft you can always buy what you want and “just a little bit is missing.” But over time, you still have to return this amount with interest, and there is less money left for everyday expenses. It often happens that then there are not enough funds until salary and you have to use the loan again, driving yourself into the red. As a result, the client is exposed to the risk that the entire limit will be exhausted and an unpleasant situation will arise that all the money must be given to repay the overdraft.

When using a bank overdraft service, you should regularly monitor your account balance. In practice, it happens that the borrower changes jobs and opens accounts in another bank, assuming that all debts on the old account have been repaid. And what happens next? With the old card, the bank writes off money for its use - this is a small amount, but over a long time, if the client has forgotten about it, decent interest accrues after going into minus, which was authorized earlier, and the client no longer remembers about it. Therefore, do not forget to close all debts on old accounts and promptly refuse the overdraft service on old cards if you changed jobs and opened a salary or credit card in a new bank.

You may find that there is not enough money in your account for some important purchase. In this case, people most often apply for a loan or loan. But you can also spend some of the money in excess of the balance thanks to the so-called overdraft.

On the one hand, this service allows you to use a debit card as a credit card with some restrictions. On the other hand, it has a number of its own features that are often forgotten. Therefore, #AllLoansOnline will help you understand the overdraft structure and tell you how to avoid problems when using it.

In essence, an overdraft is a certain amount by which you can spend money in excess of the funds available on the card. Banks offer this service for their debit and, less commonly, credit cards. In addition, entrepreneurs who have .

Initially, overdraft was intended specifically for those running their own business. In entrepreneurship, situations are not uncommon when you need to spend money beyond what you currently have. Later this service became available to individuals.

Based on the principle of operation, an overdraft can be compared to a consumer loan or loan. It also has a certain amount, or limit, the period for which it is valid, and the interest rate. Within the limit, you can make any expenses if there is not enough money in your main account. The spent part must then be returned at the end of the term along with interest.

How is an overdraft different from a loan?

First of all, an overdraft differs in the size of the amount, term and interest rate. The overdraft amount is usually less than that - most often, it is several tens of thousands of rubles. The period is shorter, a few weeks or months. And the interest rate is higher in most cases.

Using an overdraft in emergency situations is easier than using a loan. It is enough to arrange such a service with the bank in advance. If you need to spend money in excess of the account balance, the overdraft will turn on automatically. And to receive a loan, each time you need to enter into a new agreement and collect a package of documents.

Also, unlike a loan, an overdraft is always non-targeted. That is, it can be spent on anything, both in cash and non-cash. This is especially important for entrepreneurs, since business loans are most often issued for a specific purpose.

In this table you will find out under what conditions you can apply for an overdraft with different banks:

Bank	Overdraft amount	Overdraft period	Interest rate	For whom is it valid?
	Up to 500,000 rubles	Up to 30 days	Up to 24% per annum	For payroll clients
Alfa Bank	Up to 200,000 rubles	Up to 180 days	From 16.9% per annum	For payroll clients
Tinkoff	Up to 300,000 rubles	Up to 25 days	Up to 23% per annum	For all clients
	Up to 600,000 rubles	Up to 30 days	From 23% per annum	For payroll clients
	Up to 300,000 rubles	Up to 30 days	From 22.9% per annum	For bank depositors

Of all the banks presented, they only offer overdraft for any clients. In addition, for debt amounts up to 3,000 rubles, he does not charge interest.

To connect an overdraft to your debit card, contact your nearest bank branch. Please check with specialists in advance whether such a service is available for your card. Then write an application and attach the necessary documents to it. Most often, you will need a passport and income certificate.

The bank will consider your application for an overdraft for several days. After this, you will be informed about the results and, if they are positive, you will be offered to sign an agreement at the bank. A few more days after signing, the overdraft will take effect and you will be able to use it.

How to apply for an overdraft for business

According to the principle of operation, such a service does not differ from that offered to individuals. The differences are only in larger amounts and longer periods. You can most often apply for an overdraft at the bank where the entrepreneur already has a current account.

Let's consider overdraft offers for corporate clients from large banks:

To apply for an overdraft, an individual entrepreneur or LLC founder needs to contact the bank and write an application in the prescribed form. Attach to the application the OGRN or OGRNIP, TIN, charter (in the case of an LLC), a copy of the passport of the owner of the individual entrepreneur or the head of the company, and information about available loans. The overdraft application will be reviewed within a few days, after which you will be asked to sign an agreement. Now you can use this service.

Overdraft starts automatically when you try to pay for a purchase and there is not enough money on your account or card. In this case, you will pay the remaining portion of the purchase amount against the established limit. You can spend this limit one or more times. You can also withdraw or transfer part of this money.

Once you spend part of your overdraft limit, your overdraft will begin to expire. During this time, you must pay off your debt in full. If you receive your salary on a card, then this will be easy - the money will be debited from your account. Don't forget about interest - they should also be paid back. the same as for a regular loan or loan.

Example:

Petr Petrov has a debit card with an overdraft, the limit of which is 30,000 rubles, the period is 30 days, and the interest rate is 25% per annum. Every 25th day of the month he receives a salary on his card in the amount of 50,000 rubles. On the 10th, he spent 7,500 rubles using an overdraft. Let's calculate the amount that Peter will need to return, taking into account all overpayments.

First, let's calculate the overpayment for one day:

7,500 × 25% = 1825 - the amount of interest for 365 days

1825/365 = 5 - interest rate for one day

Now let’s calculate the entire amount of overpayment for 15 days from the overdraft period:

5 × 15 = 75 - the amount of interest for the entire overdraft period

7,500 + 75 = 7,575 - full amount to be refunded

Thus, after crediting his salary, he will have 42,425 rubles left.

You can monitor the amount of overdraft debts, as well as the payment deadline, in Internet banking. You can also go to the nearest branch and ask for an account statement. All amounts, terms and interest will be detailed there.

What to remember when using overdraft

First of all, keep in mind that this method of borrowing money requires more attention than or. The fact is that in any case, the entire amount of money used must be returned in full at the end of the term, regardless of how much you spent. Therefore, you should plan your overdraft costs carefully and avoid overspending. It is advisable to use the limit so that after its repayment there is enough money left in the account.

When your income is unstable or not very high, be extra careful when using an overdraft. Try to set aside some money separately in reserve in case of salary delays. In an emergency, you can pay off your overdraft debt with a microloan, but this is not always convenient due to even higher interest rates.

If you spend money over your account balance too often, you'll be better off. It is more convenient to use than a debit with an overdraft due to the interest-free grace period and the ability to pay off the debt in minimal payments with interest. In addition, many banks offer their regular customers credit cards with more favorable conditions.

In a situation where for some reason you do not repay the entire overdraft debt on time, the bank will be forced to take action. Most often, additional increased interest is charged for late payment. If such a debt is not paid for a long time, the bank takes the borrower to court. Then you will have to repay the entire amount of the debt from your property.

Infographics

Video

The “Laws for People” project tells more about technical overdraft.

Conclusion

Overdraft is, first of all, a last resort. Try to use it only if you need money for important urgent expenses. Overdraft requires more careful budgeting and a responsible approach to money. This applies to both individuals and entrepreneurs.

But it is precisely as an emergency measure that an overdraft becomes much more convenient than other types of credit or loans. You just need to learn how to use this tool. With the right approach, overdraft will not bring you any problems.

What is an overdraft? Words such as debit and credit cards, cashback and grace period, interest on deposits or loans do not cause us any misunderstanding. At least for the majority. Life forced me to learn all these concepts by heart. But OVERDRAFT... Although it’s well-known. But not everyone can answer what it means and what it is needed for.

In this article, we will break down how overdraft works, how to use it correctly, what benefits it can bring and what disadvantages it has.

What is card overdraft?

Typically, the concept of overdraft applies to debit cards. First of all, salary.

How is overdraft translated? In English, Overdraft means overspending.

Why overspending?

The client's own funds on the card.

We are all accustomed to the fact that when paying in a store with a credit card, borrowed funds are used. Within the credit limit established by the bank.

Of course, theoretically (and practically) you can put your own money on a credit card and spend only that. By essentially turning the card into a regular debit card.

But with a debit card everything is clear and simple. As much money as you have in your account, you can spend as much. Not a penny more.

Unless, of course, you have an overdraft enabled.

Imagine that you came to the store, filled a wagon and a small cart with goods. And at the checkout they tell you the total amount of your purchase. For example, 10,000 rubles. But you know for sure that you only have 8 thousand on your card and it won’t be enough for everything.

What should I do? Refuse some of the goods. Yes and no.

With an overdraft enabled, the bank will lend you the missing amount if you need it. Within the allocated credit line.

In simple words, an overdraft allows you to go into the red on your debit card. And in addition to your own funds, use borrowed money from the bank.

Not for free of course. And for a certain percentage. The bank can earn additional profit from this.

An overdraft can be called a credit of trust. It is usually available to either salary or loyal bank clients who use banking services on a regular basis.

For such “reliable” clients, the bank offers some benefits. In the form of an overdraft.

An overdraft can be compared to a promised payment provided by mobile operators or telecom providers. The main thing is to pay it off on time.

Overdraft conditions

How does overdraft work and how to use it?

The bank sets an overdraft limit for the client. Usually it depends on the client’s salary and other financial indicators (open accounts, bank deposits, cash flow and other services).

What is an overdraft limit? This is the amount of credit funds approved by the bank that the client can use.

If we take salary clients, then this is on average 30-50% of the funds received monthly into his account from the employer.

Interest is charged for using the credit line. For every day.

Since overdraft is only available to reliable clients with stable cash flows, the risks in this case for the bank are minimal. And the interest rate for using the loan will be lower than for “customers on the street” who decide to get a credit card.

Although this rule does not apply 100 percent of the time. It happens the other way around. Some banks have higher overdraft rates than regular loans or credit cards.

The algorithm for a card with an overdraft is as follows.

As long as you have your own funds on the card, they are the first to be spent. If the money runs out, borrowed funds go into battle.

After the card goes into the red, interest begins to accrue until the client pays off the debt in full.

When money is credited to the card, the overdraft is paid off first. For the full amount.

If the amount received is not enough, then part of the debt is reduced. Moreover, the client can continue to use the balance of the credit line.

After repaying the entire debt, the overdraft is again available in full.

Example. For a salary client with a monthly income of 50 thousand rubles, the bank opened an overdraft for 20 thousand. The client spent all his money on the card and went into overdraft - 10 thousand.

Total: no own funds. There is a debt of 10 thousand. But you can still spend 10,000 rubles on the card.

A week later he received an advance from work - 15 thousand. A portion of this money will be automatically written off by the bank to repay the overdraft (10 thousand) + accrued interest (not much in a week).

Result: the overdraft is paid off. The card has a little less than 5 thousand of its own funds. You can additionally use 20 thousand.

Speaking of interest. Unlike a regular loan, you can repay an overdraft at any time. Even the next day. And interest will be accrued only for the time actually used.

For example, if the overdraft rate is 12% per annum, then a month of using borrowed money will cost only 1%. From 10 thousand is 100 rubles. We closed the debt in a week - we paid 25-30 rubles. Very convenient when you need to catch up before payday.

Types of overdraft

Clients may experience 2 types of overdraft:

1. permitted.
2. unauthorized or technical.

Permitted overdraft. Money is debited from the card (account) by the bank within the established credit limit. The size of which was approved earlier as part of the provision of the service.

Unauthorized. Or, as it is more often called, technical overdraft. This is a loss on the card, in excess of the established limit. Moreover, even cards with an unconnected overdraft can go into the red.

How does this happen?

The point here is the rules for performing banking transactions. Or rather, the timing of their implementation. By law, any bank has a maximum period for processing payments of up to 5 working days.

We don't pay attention to this. Usually, after completing a transaction, for example a transfer to a card from another bank, we immediately see the crediting of funds in our personal account. In practice this takes longer.

The bank sees the fact of the transfer, but it needs time to complete the full payment processing procedure. But in order not to frighten (or irritate) the client, it immediately shows the crediting of funds.

Simply put, you see money in the account, but it’s not there yet. And if you withdraw the entire amount immediately after the transfer, a technical overdraft occurs.

For which you will have to pay interest. For small amounts this is not so noticeable.

For example, for 1,000 rubles included in the technical overhaul, the fee will be several tens of kopecks for each day.

But for a big man the amount of the fine will be more significant. With 100,000 thousand you will have to pay 50-100 rubles per day. And if the unauthorized overdraft lasts the maximum possible 5 days, the losses will amount to 200 - 500 rubles.

Therefore, experts advise “fresh” money to “sit” in the account for at least a couple of days.

5 days is of course the maximum period. And in the vast majority of cases, transactions are processed same day.

But it is still worth considering the likelihood of such an unpleasant feature occurring.

What transactions can lead to a technical overdraft?

• Account or card replenishment operations.
• Unconfirmed card transactions. We paid with plastic in the store. Then you make a purchase elsewhere. Theoretically, all the money went towards the first purchase. And there are practically no own funds on the card. But the bank has not yet processed the first (confirmed) transaction. And the terminal calmly accepts your card for payment (without the required amount of funds on it).
• Having paid with a ruble card for euros or dollars (for example, abroad), due to changes in exchange rates in the next day or two, it turns out that there is not enough money on the card.
• Bailiffs can also easily drive you into the red. The bank receives an order to withdraw the N amount from the debtor client. And it doesn’t matter whether this money is in the account or not. The bank seizes the client’s funds, simultaneously (possibly) driving him into the red.

How to activate an overdraft

Contact your “home” bank. If you are a “good” client, then there will be no problems. Fill out an application for the provision of services. And the bank will make a decision within 2-3 business days. All you need is just a passport.

Usually, even a certificate of income is not required. The bank has all the information about your financial solvency. Considering that an overdraft is a short-term loan. And for small amounts, the bank is more likely to approve the connection.

When drawing up a contract, find out in advance about the following points:

1. Loan interest rate.
2. Does the overdraft have an interest-free period and for what period?
3. Cash withdrawal. Will the bank charge a fee for cashing out or not?

Overdraft - good or bad

Do you need to set up an overdraft?

Let's first tell a little story about my experience using the card with the overs provided.

Back in 2005 or 2006, as a salary client of VTB, the bank issued a card with an overdraft. My salary at that time was about 20-22 thousand rubles. The bank was generous with the credit limit on the card - 7,500 rubles.

The main thing that attracted me was that it was absolutely free. That is, if I don’t use it, I don’t have to pay a penny.

At that time, almost all credit cards were paid, with considerable annual maintenance. And here you have the opportunity to use, although not a large, credit limit if necessary.

He doesn’t ask for food or drink - let him have it. I decided.

So here it is. For almost 7 years of using the card, I only needed the overdraft 2 times. And then for small amounts. Within 3-5 thousand rubles. In principle, there was no particular problem borrowing money elsewhere.

But why? When you could just use the card.

That is, even if there was no overdraft on the card, I would not have had any special difficulties.

And now all this from a different angle. I purposefully used the overdraft 2 times. But in fact, once......a lot. Several dozen for sure.

1. When withdrawing cash from an ATM, the balance display displayed one amount, “Available Balance.” That is, if I had 10 thousand of my own funds, then it showed 17,500 (including the credit limit). Because of this, confusion constantly arose. But then, having got used to it, I no longer made such mistakes. But a couple of times I “accidentally” withdrew the overdraft.
2. The second problem was that you had to constantly subtract the overdraft amount from the total balance in order to understand how much of your own funds you have. And there were moments when you simply made a mistake (especially on Friday evening, after the mass payment of salaries to all bank clients, everyone after work - queues at ATMs, everyone is in a hurry). The trouble is that you don’t even notice that you are “in debt.” And until the salary “drips” onto the card, you “drip” interest on the loan.
3. Only in 2012 did VTB begin to separate its own and loan funds separately in its balance sheet. But during this time, I lost a certain part of the money.
4. Non-cash transactions. Without knowing how much money is on the card, you can easily go into the red. And again, you don’t even know that you’re in debt. Back then, the Internet and mobile banking were not very good.

The “free” overdraft I received consumed much more money from me in the form of accrued interest than it brought me benefit.

Finally

The conclusion I learned from using a card with an open revolving credit line: flies separately - cutlets separately.

Use only a debit card for purchases. Precisely with your own funds.

And if you need borrowed money, it’s easier to get a credit card with an interest-free lending period. Fortunately, now there is plenty to choose from.

With free annual maintenance and a long grace period. And even with accrual.

For example, (Home Credit) - has an interest-free period of 3 months and is completely free.

The card may simply be lying around at home, idle. Doesn't ask for anything to eat or drink. And when needed, you can use it if necessary.

But this is my own opinion. Perhaps someone thinks differently. And he will also be right.

So, let's summarize.

Pros and cons of overdraft.

1. Low credit limit. Whether it's good or bad is up to you to decide. You won't be able to make large purchases. But at the same time, the card will not allow you to go far into the minus.
2. You are charged for days of use only. I paid it off in 2-3 days. You will only pay interest for this time. In absolute numbers, these are literally “pennies.”
3. If the card has a grace period, you don’t have to pay interest at all (if you manage to pay off the debt).
4. Credit trap. There are 2 points here. Borderline state of the account. When there is still a certain amount of own funds on the card. But it’s not enough, and it’s easy to get into debt. The second point is that people get used to spending more. Or they don’t manage to pay off their debt on time. As a result, “credit disease” arises. A person begins to actively use borrowed funds. And pay, pay interest to the bank.

Whether you need a card with an overdraft is up to you to decide. But before making a choice, it is better to know in advance about all the pitfalls and nuances of using the service.