The main essence of overdraft is the use of borrowed bank funds. But in no case should not be confused with the loan. When an overdraft fee is debited from a client’s card, the features of debiting an overdraft fee in Bank and what is this procedure in general, to whom this service is connected, what is overdraft in principle – these and many other questions will be dismantled now. First of all, it must be said that overdraft is of two types:
Technical overdraft features
Practically any owner of a plastic bank card came across a technical overdraft. And we are talking not only about Bank cards, but also about plastic products of other banks. Technical overdraft occurs in two cases:
- The client of a financial institution makes an online payment for some goods or services, but the addressee accepts payment in another currency. Not the one in which the client has a bank account. For example, payment “plastic” of Bank, on which rubles, foreign goods. And with the purchase of these goods is automatically converted. Due to the currency difference on the card account, a small monetary “gap” can form or a negative shift. And in order to eliminate them immediately, the bank uses its own funds, which forms a small debt. However, there is no need to worry, since the writing off of overdue overdue debts, as a rule, occurs quickly and without problems, and the amount of the debt itself is almost always small.
- The second case is much more common. This overdraft came across almost every plastic card holder. Here everything is connected with the transfer of funds to the client’s bank card. It is a transfer – through international payment systems from electronic wallets. Because if you replenish your card account by depositing cash through an ATM, the holder’s actual money will instantly transfer to electronic form. And will be fixed on this account. Another thing is when a card account is replenished immediately with electronic money. The holder of the “plastic” after the transfer, for example, from the same wallet, in a couple of minutes, an SMS message is received about the transfer of money to the card.
But the fact is that it is not directly the money that was transferred, but again the money of the bank. Those funds of the holder that were on the electronic wallet, really come only after 2-3 days. And if a client withdraws money up to this point, he will have a debt to the bank. No, of course, the amount of this debt does not equal the withdrawn amount. The cash will still come. Rather, it is a small commission for the fact that the client did not wait for “his” money, but used the “bank” funds. The overdraft fee of such a plan is tenths of a percent. For example, from a thousand rubles a fine for urgent removal will be only about a ruble. Therefore, these little things people do not even notice.
Overdraft as a microloan
A special overdraft that can be connected as a separate service is completely different. And only to the debit card. And it is desirable not just to a debit card, but to a salary card, the holder of which is included in the bank’s salary program. That is, he regularly receives financial resources for his work. Previously, a loan overdraft was available only to legal entities and individual entrepreneurs.
Its essence is that when a firm periodically encounters situations of a small negative balance in a current account, the owner (s) of a firm can arrange for a service in a banking organization, in which going into a minus will be automatically compensated by borrowed funds.
For a bank, the main thing is that the activity of the company is stable, and the current account is constantly replenished with funds from profits. Then he will agree to provide certain amounts of money to the legal entity or individual entrepreneur, which will help to avoid a negative balance of the p / account due to the lack of working capital and additional expenses in the course of business activities. But now this loan overdraft is available to individuals. In Bank, you can connect similar financial functionality. The essence is the same. When the cardholder urgently needs money, but the “plastic” is empty, it can help out an overdraft. This is something like a microloan from a bank, but it does not count as such (and even more so a credit). The size of the overdraft, as well as the fact of its connection, is determined by the client’s solvency and trustworthiness. In order to be able to borrow in Bank, say, several thousand rubles, it is necessary:
- have an active salary card of Bank;
- have a stable income significantly higher than the subsistence minimum;
- this income should come monthly on the “plastic”;
- the client should not have any financial problems with the bank, including even some delay in payments / loans in the past.
Cons of the described service
If the cardholder does not meet all of these criteria, it is still realistic to receive an overdraft. But quite small (up to a thousand rubles). An active debit card is required anyway. It is necessary to think well before connecting such a service. There are several reasons for this:
- write-off for overdraft – the bank charges interest for the provision of such microloans, and it is very tangible. With regular and large overdrafts, the card holder will overpay almost 2 times more than the amount taken. Write-off of cash for overdraft in Bank begins to be felt when the limit of such a microloan exceeds a thousand rubles;
- The interest begins to “drip” immediately after using the overdraft limit – no delays, grace periods, etc .;
- similar rules apply in all other banks, not only in Bank;
- any delay in payment (if the money for some reason did not arrive on the card on time, and automatic debiting did not occur) is punishable by new percentages, but already by an order of magnitude higher;
- to disconnect this service is often more problematic than to connect. At least in Bank (although in other institutions too). After all, it is profitable for banks to receive substantial interest from numerous small loans. We will have to write a new statement, in which in the column “overdraft” it will be necessary to indicate “0”, and, perhaps, to write repeatedly. Chat with more than one manager and spend more than one hour waiting.
A set of documents for connecting services
However, if an overdraft is sufficient for a person with a limit of 400-500 rubles, then there will be no special costs. Especially if a salary regularly arrives on the card, which will protect against possible delays. Payment will be automatic. Bank is instantly charged for connected overdraft. It is very convenient if the Mobile Bank service is also connected. Then all card transactions, including overdraft, will receive SMS notifications (number 900) on the holder’s phone. Mobile Bank can be connected at any Bank office or via the Internet in the Bank Online personal account. For this service, the “plastic” will also automatically withdraw 30-40 rubles a month. To activate a loan overdraft service, you must submit to the bank the following set of documents:
- passport of a citizen of the Russian Federation;
- the second document confirming the identity of the client (driver’s license, student ID, military ID, etc.);
- completed application form (in the “overdraft” column indicate the desired limit);
- certificate of income in the form of 2-NDFL (if a person is a member of the salary project of Bank and officially and regularly receives a salary on the “plastic” of this bank, then the certificate is not needed).