Overdraft in Sberbank. What is an overdraft and how to use it for business Using an overdraft
Not everyone can control their income. A fairly large number of people are left without money just a few days before receiving a salary. Different people cope with such troubles in their own ways, mostly trying to borrow money from acquaintances or friends. But permanent debts spoil relationships with people, especially close ones. You can get a regular loan, but this is not very convenient, because often you need a small amount and only for a few days. The best solution for such people would be an overdraft.
An overdraft is a microloan. Its peculiarity lies in the ability to use borrowed funds at any time when the funds in the account run out. Now almost all enterprises and organizations transfer salaries to plastic bank cards. If the client wishes, the bank can connect an overdraft to such a card. Often large banks connect such a service without a client's request. With such a card, you can withdraw funds from your account even with a zero account balance.
Overdraft Features
The main feature of an overdraft is the possibility of using the credit limit at any time, provided that the credit limit set by the bank has not been exceeded. An overdraft is a short-term type of loan, and most banks require debt repayment within one month. If the card is used to pay salaries, pensions or other funds, the loan will be repaid automatically. In some cases, an overdraft can be extended, but this should be agreed with the bank, and the conditions in this case, the financial institution is likely to change.The allowable limit is calculated in each case individually and can be changed over time both upwards and downwards. When calculating the overdraft limit, the lender takes into account the solvency of the client. For the use of its funds, the bank charges interest, which is charged in most cases on a daily basis and only on the amount that was used.
Some financial institutions offer a grace period to draw attention to overdraft cards. If at this time the user of the microcredit has time to fully repay it, then he will not incur any additional costs, since no interest will be charged. If no credits are made to the card, it will be necessary to pay for the loan in order to repay the loan.
Overdraft and limit calculation
There are some banks that issue cards immediately with an overdraft, but they are few. In most cases, in order to be able to withdraw funds with a negative balance, it is necessary to conclude an agreement with the bank. It will be possible to count on a positive decision of the application when there is a constant movement on the current account, the client has a permanent job with a stable income, and has a positive credit history.To calculate the limit, bank employees take data on the funds credited to the client's account for the last 3-6 months, find the average and calculate a certain percentage (it is set by each organization). The client can use the overdraft whenever he wants within the framework of the contract an unlimited number of times.
Overdraft: what to remember
Not every employer pays wages on time. If such a delay occurs, you should be careful and make timely repayment of the loan yourself, as you will have to pay fines for delays.Not everyone is able to control their expenses, and sometimes it happens that a cardholder with an overdraft goes into a big minus, which is not completely covered by income. To avoid such a nuisance, immediately after receiving the card, you should calculate your capabilities and compare them with the allowable limit. If it turns out to be large, you can contact the bank and reduce it to an amount that seems acceptable.
Almost every person faced the problem of lack of money to make a purchase. In such a situation, you can ask for a loan from friends, relatives or borrow money from a bank for a very short period.
Definition
An overdraft is a loan issued by a bank to replenish an individual's account. Its main difference from a consumer loan is that it can be renewed multiple times during the term of the contract. In addition, you need to repay the loan at least once a month, and interest is charged on the entire amount of the debt.
What should a potential borrower know?
An overdraft is a revolving line of credit. Subject to the timely repayment of the debt, the funds can be used an unlimited number of times. This is very convenient for clients who value their time and cannot apply for a new loan every time.
Such a loan is much cheaper than the “payday cash” that microfinance organizations provide today.
The interest rate in all banks is floating. It depends on the client's income level.
Overdraft is not only formal, but also technical. In the second case, a negative account balance may occur after the conversion of funds or cash withdrawal through an ATM with a large amount of commission. In the event of a technical overdraft, the bank provides 35 days to repay the debt. Otherwise, penalties will be applied to the client.
In case of untimely receipt of income on the card for any reason, sanctions will be applied to the client in the form of an increase in commission or a decrease in the limit.
Lending institutions also charge a fee for withdrawing funds through any ATMs.
For some time now, it has become a practice to sell an overdraft at the same time as registration. This can come as a big surprise to many retired employees. Indeed, in case of a delay in the transfer of income, penalties will be applied to the client.
Peculiarities
Overdraft is issued only to existing customers of a credit institution. Funds are transferred to an open account. Most often, a salary card is used for this purpose. Such an account is replenished twice a month, and funds can be used an unlimited number of times. The limit of funds is set by the bank based on the level of income of the client. If there is not enough own funds on the card to make a purchase, then the overdraft service is automatically activated. That is, the client will be able to pay for the purchase with his salary card, but at the expense of borrowed funds.
An overdraft is the same loan on which interest is charged. That is, the client will still have to return the principal amount and the accrued commission to the bank. Unlike a conventional loan, the loan is repaid immediately after the funds are transferred to the account, and the commission is charged on the amount of money used. If, for example, a client received a loan in the amount of 100,000 BYN, and used only 10,000 BYN, then interest will be charged only on this amount until the debt is repaid.
Today we will talk about how to get an overdraft in Belarusbank.
How to apply?
An application for an overdraft from Belarusbank can be submitted directly on the website of a credit institution in the section of the same name. To fill out an application for a loan through Internet banking, just go to the "Additional Services" section of the "Accounts" menu. In M-banking, the corresponding menu item is located in the "Services" section. You can also apply by contacting one of the branches of Belarusbank OJSC.
An overdraft on a salary card is provided based on the calculated limit. The latter depends on the level of monthly income and cannot exceed 200 basic units. The completed application goes to the credit department of the bank at the place where the account (card) was opened.
Employees of the same department will inform the client about the results of the preliminary decision by SMS or in any other way they choose. If the application is approved, the client will be invited to the office to provide the originals of the declared documents and sign the contract.
Overdraft "Belarusbank" draws up in the presence of a passport and a certificate of income for the last two quarters.
Conditions
Belarusbank OJSC provides loans to payroll cards under two programs that differ in limits, terms and commission:
1. Maturity once a quarter. Overdraft "Belarusbank" provides for a year in the amount of double monthly income for the last six months. Interest rate = SR + 9 p.p. (as of 01.11.16- 29%). The term of the loan cannot exceed the term of the card accounts.
2. Maturity is once every six months. Overdraft "Belarusbank" provides for a year in the amount of 400% of the average monthly income for the last six months. Interest rate = SR + 10 p.p. (as of 01.11.16- thirty%). The term of the loan cannot exceed the term of the card accounts. This service is not provided to clients whose work experience is less than 1 year at the last place of work.
The previously existing program with a monthly repayment period from 08/01/16 was closed.
Potential borrowers must meet the following requirements:
- be registered as individuals or individual entrepreneurs;
- have an impeccable credit history in the past;
- have a bank account with transactions in the last three months.
How to use the Belarusbank overdraft?
Having issued this service, the client will be able to pay bills with borrowed funds from his card. The plastic holder himself determines when, in what volume and for what to spend the overdraft. "Belarusbank" accrues interest only on the actual amount of debt. If the client has issued the service, but does not use it, then he will not pay a commission. The overdraft is activated automatically when the client pays the bill, the amount of which exceeds the balance of his own funds. The repayment of the loan is also carried out automatically after the income is credited to the account.
Credit vs Overdraft
At its core, an overdraft is very similar to a consumer loan that is provided on cards. The loan amount in both cases depends on the salary level. However, the maximum loan amount is higher than for an overdraft from Belarusbank. Interest for cash withdrawal on the account - 4%. The rates for the use of funds are the same in both cases. However, when applying for a loan, interest is charged on the entire amount of the outstanding debt. No collateral or guarantee is required to apply for an overdraft at Belarusbank.
Customer Reviews
The main advantage is ease of use. To apply for a loan, you just need to apply online. If the client already has a salary card, then it is not necessary to provide a certificate of income. After preliminary confirmation of the application, the bank manager will contact the client to set the time and place of the meeting with the branch employee. Already at the office of the credit institution, the client will be provided with a loan agreement for signing. After that, it will be possible to use the overdraft an unlimited number of times.
Debt repayment is carried out automatically after replenishment of the account. On the one hand, the client does not have to look for an ATM or terminal to pay the next installment. On the other hand, in the event of an overdue debt, the account will be blocked until the loan is fully repaid. In addition, the bank may apply other penalties in the form of lowering the limit and increasing the rate. The disadvantages of an overdraft also include a small credit limit and short terms of the contract (from 3 to 12 months).
Other options
Having examined in detail the conditions under which it is possible to issue credits on a card at Belarusbank, we will study other offers.
Market rates for servicing such loans fluctuate between 33-48%. At the same time, customers have to pay 34-42% for consumer loans.
The lowest rate on the market is offered by BelVED Bank. The loan "Spare pennies" provides for a commission of 33%. For using a similar product, clients of Fransabank and Zepter Bank pay 39%, Technobank and Priorbank - 40%, BNB-Bank, Bank Moscow - 42%. Overdraft is the most expensive for VTB Bank customers - 47%. At the same time, many financial institutions provide a grace period of 10-30 calendar days, during which interest on the loan is charged at a rate of 0.0001%.
Free cashing out of funds from the account is provided only for cards of "MTBank", "RRB-Bank", "Bank Moscow". A similar operation in Zepter Bank is charged at a rate of 2.5%, in Technobank - 3-5%, depending on the tariff plan.
Alfa-Bank provides a similar service only to payroll card holders. The amount of the limit is 300% of the average monthly income. The interest rate increases with the term of the loan. When withdrawing funds from the account, a commission of 2% is charged.
« Belagroprombank” also offers its customers two programs to choose from. The first 90 days from the date of signing the overdraft agreement is provided at 10% per annum. From the 91st day, the rate of 13% begins to operate. Exceptions are participants of the salary project and employees of agricultural enterprises. Overdraft is provided to such clients at 12.5% per annum. The initial loan amount is limited to 5,000 BYN, and maximum is 200 000 BYN. The application is considered within two days. Funds are transferred on the card that monthly income: salary, profit from entrepreneurial activity, pension.
Belarusbank provides card loans based on income level, but in BSP-Sberbank, the first overdraft can be obtained for a maximum amount of 10,000 BYN at 16%. The application is considered within two working days. You can repay the loan within a year from the moment the debt was formed. Not only citizens of the Republic of Belarus can get an overdraft, but also stateless persons with a permanent source of income.
Conclusion
Overdraft is a good way to get borrowed funds in an emergency, but you need to use this service very carefully. Even better, activate it only in case of emergency. Overdraft sucks. At first, the client takes a loan “for important needs”, and after a couple of months he can no longer stop, as the amount of the limit is constantly increasing, and the proceeds are not enough to fully repay the debt.
Of course, the deposit function of a salary card in times of crisis is of little interest to poor citizens who live cleanly of all incoming funds. However, if you are still saving small amounts for an even more “rainy” day, you will agree that the automatic calculation of interest on the funds left on the salary card would be the least labor-intensive means of maintaining such mini-savings - moreover, with partial savings from inflation, and with the possibility of their partial or complete withdrawal / spending absolutely at any time.
However, serious deposit incomes on this most convenient way of saving part of the salary should not be expected now. Only one of the three dozen leading banks we studied offers a balance rate above 10% - and even then only on salary cards of the classic and gold levels (Prominvestbank, 12% per annum). And only three largest banks have such rates within 5%-10% per annum (PrivatBank, Oschadbank, UKRSIBBANK). Five more players formally accrue funds for the balance of salary cards, but the rate at the same time is extremely small: up to 5% per annum.
However, on the second most convenient way to save and multiply earned funds - a simplified or fully automatic transfer to special income accounts, "wallets", "piggy banks" with constant access to such an account (using the same salary or separate card) - you can already earn and 20% per annum (PrivatBank, PUMB), or at least 13.5% -17% per annum (Alfa-Bank, Sberbank of Russia). And this is a very good profitability for a universal deposit, also a card one, besides, it is processed online, without visiting the bank.
“The pricing of interest on the balance of the salary card depends directly on the situation in the bank with liquidity. We do not rule out that with a global deterioration in the situation with liabilities, this product will be in demand on the market,” emphasizes Vadim Lebedev, head of attracting and selling payroll card projects.
As for the increase in the rates of ordinary deposits for the “salary” of the same bank, in general, this service with a regular and pre-set bonus amount is a thing of the past on the market. However, on an individual basis and in the course of promotions, it occasionally revives one or another deposit program in almost every institution.
The exception is Ukreximbank, which for many years has been running a separate program instead of any deposit bonuses for “salary workers”: the “Salary” term deposit, which is issued online without visiting the bank and has a profitability slightly higher than the deposits-analogues of the same state-owned bank (in the fall of 2015 - 18, 3% per annum).
CALCULATION OF INTEREST ON THE BALANCE OF THE SALARY CARD |
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|---|---|---|---|---|
Bank | Interest on the card balance in UAH, per annum | Note |
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8% (everyday), 12% (classic, gold) | ||||
5% (everyday), 7% (classic), 8% (gold), 9% (platinum) | ||||
3% + see note | Transfer to the Mobile Savings account (8% per annum) |
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1% (everyday), 3% (classic), 7% (gold) | ||||
Not charged | Transfer to the account "Profitable safe" (17% per annum) |
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Not charged, but see note | Not charged, but see note | Transfer to the account "My deposit" (5.1% per annum) or to the term deposit "Salary" (18.3% per annum, interest is recalculated for early withdrawal) |
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The rate is individual | ||||
Not charged | ||||
Not charged | ||||
Not charged | ||||
Not charged | ||||
Not charged | ||||
Not charged | ||||
Not charged | ||||
Not charged | ||||
Not charged | ||||
Not charged | ||||
Not charged | ||||
What is a blank overdraft on a salary card
Only half of institutions from the top 30 Ukrainian banks offer overdrafts without complicated registration and collateral against a salary card to their clients. So, almost all large “Russian banks”, as well as Raiffeisen Bank Aval and some other serious players, do not open credit limits for such cards.
For those who allow payroll overdrafts, the rate for them is most often 24% -36% per annum. True, given that most of these lenders require the repayment of the entire overdraft in the very next month after receiving it, with such a quick loan repayment, it can be an overpayment to the bank of up to 3% of the loan, not counting the commission for cashing out.
Notable exceptions are as follows: downwards - UKRSIBBANK, its overdraft rate is 9.5% per annum (that is, if repaid in one month, the overpayment will be 0.8% of the loan volume). Exception to the big side: Ukreximbank, the rate is 73% per annum (if repaid in a month, the overpayment is 6.1% of the loan volume).
In addition, in many of these and other banks, salary customers can also receive ordinary non-card loans for various purposes - of course, with a more loyal consideration of their application by loan officers compared to ordinary "external" borrowers.
Thus, PrivatBank offers its "universal" (aka credit) card to many of its "salary" employees immediately after issuing a salary card to them. And OTP Bank and many other institutions will not fail to make the same offer to customers after several months or years of using a salary card.
“Today, the most promising product is not a credit limit for a salary card, but a separate credit card. This is definitely the product that will develop more productively and actively,” said Vladimir Shevchenko, Deputy Head of the Retail Sales Department.
OVERDRAFTS (CREDIT LIMITS) TO PAYMENT CARDS |
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|---|---|---|---|---|---|
Bank | Overdraft rate, % per annum | Commission for cashing out credit funds, % of the withdrawal amount | Notes |
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At the issuer's ATMs | At ATMs of other banks | Abroad |
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4% + 1% for conversion | Up to UAH 10,000 (except for gold cards), mandatory repayment of the entire loan amount in one month |
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For free | 1.5%, min. 30 UAH + 1% for conversion | Up to 6 average monthly salaries |
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For free | 1.8%, min. 50 UAH + 1% for conversion | Up to 3 average monthly salaries |
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For free | 1.5%+20 UAH + 1% for conversion | Up to 60 thousand hryvnia, the minimum payment is 5% of the debt per month |
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For free | For free | Up to 45% of salary and up to 8 thousand UAH. |
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For free | 1.5%+25 UAH + 1% for conversion | After 1 year of validity of the s / n card. Mandatory repayment for one month of the entire amount of the loan |
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For free | 10%+69 UAH + 1% for conversion | Up to 5 average monthly salaries |
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For free | 1.5%+110 UAH | Mandatory repayment for one month of the entire amount of the loan |
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5.5%+69 UAH + 1% for conversion | Up to 1 salary and up to 50 thousand UAH. (except gold), mandatory repayment of all interest monthly |
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For free | For free | 100 UAH + 1% for conversion | Mandatory repayment of all interest monthly |
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For free | For free | 1.5%+27 UAH + 1% for conversion | Up to 50 thousand UAH. |
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For free | 1.5%, min. 5 UAH | 2%+30 UAH + 1% for conversion | |||
4% + 1.5% per conversion | |||||
For free | 2 minutes. 66 UAH + 1% for conversion | ||||
No overdraft to salary cards |
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No overdraft to salary cards |
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No overdraft to salary cards |
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No overdraft to salary cards |
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No overdraft to salary cards |
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No overdraft to salary cards |
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No overdraft to salary cards |
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No overdraft to salary cards |
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No overdraft to salary cards |
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No overdraft to salary cards |
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No overdraft to salary cards |
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Opinion
Panagiotis Sarantopoulos, Director of Deposits Department,
When determining the overdraft limit, it is important to be guided by an understanding of the essence of this product, namely, to realize that an overdraft is not a loan for buying a car or an apartment, but a tool that allows, if necessary, to use additional financial resources within a few days. For all other purposes, other banking instruments and products should be used, such as a credit card or cash loan secured by real estate, car loans for the purchase of vehicles and mortgage loans for the purchase of housing on credit. Moreover, today the rates and conditions for these products are quite interesting and flexible.
Alexander Drozd, director of business department with payment cards of the bank ""
From the point of view of the convenience of using credit funds, an overdraft is, of course, more convenient than a credit card. As a rule, the interest here is smaller, and there is no need to think about timely repayment, subject to regular receipts of wages, and an increased interest is not taken for cash withdrawals within the overdraft, and banks do not charge fees for an unused overdraft - interest is accrued solely upon use credit funds for the amount actually used for the actual number of days of using this money. There are also disadvantages, for example, often, in the conditions of using an overdraft, there is no “grace period” and the amount of the overdraft may not satisfy the needs of the consumer, but the overdraft has a different purpose. An overdraft is needed as a short-term solution to minor financial problems and is not focused on serious financial needs of the client. Summing up, we can say that I do not see any troubles in using overdraft funds within the framework of salary projects.
Marina Nesterovskaya, director of the retail business department of the bank ""
Everything is determined by the terms of the bank's credit card product. One of the most important conditions that a payroll card holder with an overdraft should keep in mind is the validity period of the credit limit and the conditions for its closing and/or reopening for a new term. Often, banks require mandatory repayment of the credit limit within the time limits stipulated by the Credit Limit Opening Agreement.
Sometimes it is practiced to introduce an additional commission for withdrawing cash in the bank's own terminal network, for the amount of credit funds, but at the same time, withdrawing own (not credit) funds remains free.
Konstantin Chumachenko, head of the card business, ""
When applying for an overdraft to a salary card, in order to avoid “unpleasant surprises”, it should be borne in mind that, unlike a “real” credit card, the main source of debt repayment is wages that are transferred to the card (the amount of the maximum overdraft limit and the repayment schedule is tied specifically to her). Therefore, when applying for an overdraft, it is imperative to analyze:
- credit conditions in cases where wages are not enough to pay off the payment on the card (such cases are very common after returning to work after vacation or sick leave),
- the term for the full repayment of the debt,
- what happens to the terms of credit after the dismissal of the client (when the company stops crediting wages to the card) or the loss of the salary card
That is, in fact, everything that is connected with the termination of enrollment on the salary card.
Natalya Krisanova, Deputy Head of Banking Products Development Department, Aktabank
The size of the credit limit must correspond to the client's solvency, that is, correlate with the client's income, as well as his current and future expenses (including family expenses, payment of other loans and payment of a newly issued credit limit). But even if the client has a fairly high income, banks, as a rule, set maximum lending limits. For example, a bank may offer a client to issue a credit limit in the amount of 3 salaries, but not more than UAH 20,000. Banks also set lending limits for 1 borrower. That is, if the client already has loans or credit cards in the bank, then the amount of the credit limit on the salary card will take into account the client's existing loans in the bank. For example, if the lending limit for 1 borrower in a bank is UAH 20,000, then if the client has a valid loan in the amount of UAH 5,000. in the bank, the bank will be able to set a limit for the client no more than UAH 15,000. according to its ability to pay. This approach is due to the fact that customers often overestimate their capabilities. Therefore, to form a high-quality loan portfolio, banks use the regulated by the NBU, as well as their proven methods for assessing the financial condition and solvency of the client.
Yulia Morozova, Director of the Card Business Development DepartmentVABJar
Much depends on how exactly the overdraft is built at a particular bank, due to which different requirements for monthly payments are built. For example, in our bank, in the case of using an overdraft, the commission and interest on the amount that was used are automatically deducted from the borrower's salary. Therefore, the situation when the client forgets to make a monthly payment does not happen in principle. The advantage of this approach is that these are completely easy payments for the client, which do not greatly affect his monthly income. If the client suddenly began to delay the salary, it is worth calling the bank and asking what are the possible options for resolving the issue.
Another advantage of the mechanics used in our product is that with such a repayment schedule, the client can plan ordinary current expenses within his family budget. Since the borrower must repay the body of the loan by the end of the overdraft (after 24 months), this allows him to choose the most convenient moment for repaying the debt. In addition, the agreement may provide for automatic prolongation - with a good payment discipline of the borrower, the bank can extend the terms of the overdraft and then the obligation to repay the principal debt is also extended, due to which the borrower can avoid falling into delay.
SMS-Banking to payroll cards
You can connect SMS-informing about transactions or similar notifications for free using a mobile Internet connection (e-mail, ICQ / QIP, Skype, Telegram, social networks) to gold and platinum salary cards of almost any bank. However, the decision on free of charge in absolutely all cases is made on an individual basis. And if such a decision is not made for gold cards, the tariffs of lower-level cards, which are described in the next two paragraphs, will be applied to them for these services.
As for everyday and classic salary cards, connecting to the informing service on a phone or an Internet smartphone costs the same for almost all the players we studied: 60 hryvnia per year, that is, 5 hryvnia per month.
Exceptions: Ukreximbank and VTB Bank (Ukraine) - UAH 36 per year, UniCredit Bank - UAH 42 per year; bank "Credit Agricole" - 72 hryvnias per year for SMS-ki on salary cards. The difference, as you can see, is insignificant for the annual commission - especially if you divide it by 12 to calculate the monthly fee.
“Currently, there is a trend of selling to enterprises not only a salary card, but also a whole package of services for cardholders, which will include SMS informing, Internet banking, financial risk insurance, and a cardholder loyalty program. At the same time, such service options in packages can be free for the cardholder if a number of conditions are met within a month; the parameters of such conditions depend on the package that the client chooses,” Maxim Akinchits, Business Development and Key Accounts Director, discovers future innovations.
Promotions on salary cards, the cost of withdrawing from “own” ATMs
In the fall of 2015, most shares are tied to plastic cards, regardless of whether they have a salary function or not. A list of a part of such shares in the second half of 2015 can be found in the table below.
However, many still remember the mass billboards of the recent PrivatBank campaign, which concerned exclusively salary cards and was designed to reduce the special love of their holders for the quick cashing out of each credited penny - because of which, on other days, all the contents of ATMs of the largest bank are quickly taken out and queues are created in front of them (action then consisted of a five percent cashback when paying for goods with payroll cards).
Almost certainly with the same good purpose, from time to time, such or other purely “salary” promotions will be revived by PrivatBank itself (cashback, however, it still works on cards now - but only in partner stores) and hold some slightly smaller banks or ATMs networks whose ATMs are also “suffering” on the days of advances and paydays.
By the way, Raiffeisen Bank Aval approached the most radical approach to stimulating payment through terminals or through Internet banking instead of instant cashing. With German rigidity, he encroached on the holy of holies of salary marketing and introduced a fee for cashing out from salary cards even at his own and numerous partner ATMs (0.5% of the withdrawal amount - for example, from 10 thousand hryvnia, the commission will be 50 hryvnia: and this, mind you , monthly). And in other people's ATMs, the tariff for withdrawing wages from the Austrian "daughter" is also twice as high as indicated.
Not a single one of the three dozens of payroll project operator banks that we have studied has dared to do such an act with respect to its own and partner ATMs. Simply put, the most massive bonus promotion for salary cards is this: withdrawing from salary cards in your own and partner ATMs is still free for all major players (with one single exception that confirms this rule).
The cost of cashing out in "foreign" ATMs
And finally - a few words about the commission for cashing salaries at ATMs of other banks. Just five years ago, such tariffs would have been described at the beginning of such a review and would have been presented as the most important parameter of salary cards.
However, by the mid-2010s, the ubiquity in megacities of POS terminals at checkouts, Internet banking, services, corporate cards (in cases of business trips abroad or across the country), networks of self-service vending payment terminals with the ability to pay for services with a card - made cashing out the entire salaries in the first “foreign” ATM that came across is a rare matter, not vital even for holders who receive a “white” salary on the card in full.
Nevertheless, it is still appropriate to highlight the banks from which you can withdraw cash from salary cards not only in your own and partner, but in general in any ATMs in Ukraine free of charge (PrivatBank, PUMB, Ukrgazbank, VTB Bank (Ukraine), Fidobank, Ukrinbank) or for a small fixed amount with any amount of withdrawal (Credit Bank Dnepr, Pivdenny, Megabank - their commission is 2 hryvnias, moreover, Megabank has the first five withdrawals in “foreign” ATMs completely free).
And it remains to add that for cardholders of other major operators of payroll projects, cashing out in “foreign” ATMs in Ukraine costs in 2015, most often, 1.5% of the withdrawal amount plus 5 hryvnias - the same as in previous years.
WITHDRAWAL OF CASH FROM SALARY CARDS IN ATMs OF OTHER BANKS |
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|---|---|---|
Bank | Commission for cashing out own (credited by the enterprise) funds, % of the withdrawal amount |
|
At ATMs of other banks | Abroad |
|
For free | 2% + 1% for conversion |
|
For free | 1.5%+92 UAH + 1% for conversion |
|
For free | 2%+100 UAH + 1% for conversion |
|
For free | 1.5%, min. 20 UAH + 1% for conversion |
|
But situations can be different - leaving for a new job or choosing a bank that is more interesting, according to the person. And what to do if you decide to abandon the salary project in the bank that the company has chosen for you? Any employee - regardless of the length of service in this company - has the right to require the employer to pay wages through a bank suitable for him, and not the one where the employer is serviced. However, companies do not talk about this, leaving no choice for a person. As for the amount that the bank charges from the company for crediting money to employees' accounts, it ranges from 0.05-0.75% of the transferred amount. Such a difference, especially with an impressive staff, is quite noticeable for the company's budget. It is important for an employee to know that in order to receive a salary on a payment card in a bank chosen by an employee, it is necessary:
Converting a payroll card to a regular debit card Please note that if you, one of the company, want to be serviced at another bank, then your card will no longer be considered as a salary card, and, most likely, the service will cost more. By the way, this is a sin not only for medium-sized banks, which should not be chosen because of the small number of ATMs, but also for quite large institutions. As a standard, issuing banks set a minimum balance of 6% for debit card holders, but not less than UAH 50. An employee of the company can independently decide the issue of transferring funds, for which it is necessary:
In which banks is it better to transfer the “card” salary There is one more point: the acceptance by the bank of someone else's salary account. As a rule, financial institutions operating in Ukraine prefer to "take cards" from partners. The ideal option is a client from a bank with which the new financial institution has ATM networks. It is ideal not only for simplifying primary settlements between banks. Because financial friendship will also affect the client - in the form of lower service rates than in an unfriendly bank. In addition, if at a previous job the client had the opportunity to take a loan at preferential interest from a “salary” bank and carefully calculated on it, he can qualify for certain discounts in the new bank. As shown by the survey "Prostobank Consulting", large banks are very reluctant to take "loners" from small companies. As a rule, they also refuse those who offer too many "schemes" for accrual - they say that the company pays less taxes. Helpful Hints
Is it possible to transfer money to a salary cardMany of our readers are interested in the question of whether it is possible to transfer money to a salary card. Most banks provide the ability to transfer money to a salary card. To send money to a salary card, you can use ours. | ||
In Russia, the overdraft service has become active quite recently. At the moment, many are already familiar with this service, only now, many have not learned to distinguish it from a traditional bank loan. Between the two, there is a clear difference...
An overdraft is a short-term loan, when the bank lends to customers who have proven themselves, but for a rather short period of time.
The idea is that the lending institution conducts an overdraft, after which the borrower can use much more funds than he has in the account.
Only now, in the future, all the funds that were borrowed from the bank must be paid by the borrower at a time.
Credit and overdraft.
- an overdraft is issued only to those borrowers who have a current account, as well as constant receipts of funds on it. It is worth noting that this is not considered a prerequisite for those who wish to take out a loan;
The interest rate on an overdraft is slightly higher than on a loan;
The repayment of the overdraft debt is carried out automatically, while the loan, in turn, must be repaid in installments;
If, in the case of a loan, the borrower himself applies to the bank, but in the case of an overdraft, almost always a financial institution chooses a potential client for itself.
Advantages and disadvantages.
Among the advantages of an overdraft, a large number of loans can be distinguished. For example, having repaid the entire amount of the debt, the client may well use the overdraft for the second time, and after repaying the second loan, just take the third one, etc.
Moreover, to obtain an overdraft, it is not at all necessary to provide collateral and prove one's solvency, an individual guarantee of the borrower is enough.
Among the negative points is the limited time frame. In general, overdraft maturities range from a few days to up to 3 months.
Also, quite a few are tempted by the possibility of a one-time payment, since a large amount of money immediately hits the borrower's pocket...
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An overdraft is a type of loan in which the borrower can temporarily use...
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Everyone knows the situation when money runs out, and before receiving wages ...
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Not so long ago, only legal entities could afford an overdraft. But times are changing, and therefore now banks offer this service to individuals. In simple terms, an overdraft is a type of short-term non-purpose loan, the main advantage of which is the ability to use credit funds that significantly exceed the amount of money available in the borrower's account. That is, an overdraft is a revolving credit line that can be provided to the borrower any number of times, subject to the timely repayment of debts.
How to use an overdraft
In order to use the overdraft, the borrower must have a credit card with a revolving line of this credit institution. Moreover, the overdraft service must be specified in the banking agreement. So, not every credit card allows its owner to use the overdraft service. Most often, such a short-term loan is used by regular customers of the bank, who receive their wages on the card in it. The convenience of an overdraft lies precisely in the fact that a person, the owner of a card of a particular bank, can at any time receive a loan and use much more funds than is available on the card.
It is very convenient for those borrowers who urgently need a small amount, while a negative balance has already formed on the borrower's card. As for the specific amounts of such a loan, repayment periods, interest rates, all these and many other nuances are negotiated in a timely manner between the lender and the borrower at the conclusion of the transaction. As for the size of the limit of funds provided under an overdraft, it directly depends on the level of solvency of the borrower. Thus, the higher the salary that is credited to the card, the higher the overdraft amount can be.
Conditions for obtaining an overdraft
- 1. Since an overdraft is considered a kind of preferential form of lending, only those borrowers who have stable incomes can receive it.
- 2. The borrower must be a client of the bank in which his cash services are carried out and where the current account is opened. At the same time, the cash flow on the client's account must be constant for at least six months, at least. That is, most often an overdraft can be afforded by salary customers of the bank, through which they constantly receive their salary. If there are no movements on the account for a long time and there are no stable cash receipts, it will not be possible to issue an overdraft. In general, the period of receipt of funds in the borrower's account is determined by each bank individually.
- 3. A person who plans to apply for an overdraft must have worked in the last position for at least one year. So, the presence of a permanent job is a prerequisite for obtaining an overdraft.
- 4. The borrower must not have any debts in this bank or other credit financial institutions.
- 5. Of course, having an impeccable credit history is a must. If the history of the borrower has been spoiled, then it is unlikely that he will be able to get an overdraft in his bank.
- 6. Despite the fact that this service should be provided for in the agreement with the bank, for its execution, the borrower will need to conclude another additional agreement, which will contain specific conditions for providing an overdraft.
- 7. The validity period of the overdraft is limited, and therefore it ranges from a month to a year.
As for the currency in which a loan can be granted, everything is simple: it can be provided not only in rubles, but also in foreign currency. Although in practice, people most often take an overdraft in the same monetary unit in which they receive wages.
How to pay off an overdraft
To repay the debt, the bank uses absolutely any cash receipts that are credited to the borrower's account. Funds are debited automatically. In this regard, the total amount of the overdraft is constantly changing depending on the amount of funds that are credited to the borrower's current account. Funds are written off in favor of the bank for using the overdraft facility on a monthly basis within the limits of free funds on the borrower's account at the end of the working day.
As for the total amount of loan payments and interest accrual, these nuances are negotiated by the parties in advance and are prescribed in the agreement. Regarding interest for using an overdraft, they are charged only on the balance of the borrower's existing debt, and not on the entire loan amount at once. The direct write-off of debt occurs during the period when cash flows arrive at the borrower's account (for example, on the day the salary is credited). As in the case of classical lending, if the borrower behaves irresponsibly and allows debts, the bank, without hesitation, will begin to charge a penalty and set a fine. Moreover, in this case, the borrower will first have to pay a commission to the bank, and after that, the direct repayment of the main overdraft debt will begin.