Schrödinger's overdraft. Sberbank debit cards became overdraft cards, but not quite

Hello, friends!

We continue to improve our financial literacy and at the same time improve our English. Today the foreign term “overdraft” is next in line. We will learn its meaning, learn to understand and not be afraid.

The number of bank card users is growing every year. Among them are students, pensioners, and even children. Why? It is convenient, practical and safe compared to a wad of money or a pile of coins in a wallet. We are increasingly using bank cards to receive earned money, transfers, cash withdrawals and payment for goods and services in stores and on the Internet.

Banks are trying to support our commitment to using credit cards. After all, solvent clients are the main source of profit and the raison d'être of the financial and credit organization itself. Banks compete with each other, lure us with new banking products and make offers that are difficult to refuse.

We have already figured out the concept, types and conditions of use of debit and credit cards. We learned what, for example, cashback and overdraft are. It is on the latter that I want to dwell in more detail today. Not everyone likes to use a loan, but not everyone suspects that they can become a debtor to the bank without having borrowed money. How is this possible? Let's figure it out.

What does "overdraft" mean?

The foreign word "overdraft" (overdraft) in translation from English means "overspending", "overdraft". We see the familiar word credit, so we think that it refers only to those who like to live in debt. This is not entirely true. An ardent opponent of other people's money can also face an overdraft. Reading the reviews of bank card holders, I was convinced of this. But first things first.

An overdraft is a short-term loan provided by a bank under a bank account agreement to cardholders (usually salary). For example, when you do not have enough own funds to buy a product, the bank will gladly provide the missing amount. But under certain conditions, of course.

The Civil Code of the Russian Federation (Article 850) indicates that if a bank makes payments from a client's account in the absence of money on it, then it thereby gives him a loan with all the ensuing consequences. The loan is issued for a specific period and is not free. This also applies to overdraft.

Hence, fair questions arise: "Do I need an overdraft?", "How to connect?" and "How is it extinguished?" The answers to them depend on its type and the bank providing this service.

Views

Distinguish:

1. allowed,
2. unauthorized (technical) overdraft.

Let's dwell on them in more detail.

Allowed overdraft

The authorized overdraft is connected upon the personal application of the cardholder. It is provided within the limit set by the bank and at a certain percentage. These conditions differ not only for different banks, but also for different clients of the same financial institution.

Overdraft limit- this is the amount that a bank client can have in case of a shortage of his own money on the account. It is calculated for a specific person, based on the amount of funds that go through his card, his credit history and some other factors.

Banks also vary in interest. For example, Sberbank has established the following:

• 20% within the cash limit,
• 40% - payment for late repayment,
• 40% - payment for exceeding the limit, but only for the amount of this excess.

Attention! Sberbank connects the overdraft service not to all cards, but only to debit (salary) cards. But, for example, if you are the owner of MIR Classic, MIR Gold, MIR Premium, then the overdraft limit is not provided. A complete list can be found on the bank's website.

In my article about I dwelt in more detail on the issues of tariffs, conditions for obtaining and using them. If you haven't read it yet, then catch up.

Tinkoff Bank has the following conditions:

1. The service is activated at the initiative of the bank and with the consent of the cardholder.
2. If you borrowed no more than RUB 3,000 from the bank, then there will be no overdraft fee (subject to timely repayment within 25 days).
3. If the loan amount is from 3,000 to 10,000 rubles, then the bank will take 19 rubles. in a day.
4. From 10,000 to 25,000 - 39 rubles. in a day.
5. Over 25,000 - 59 rubles in a day.
6. The penalty for late repayment is RUB 990.

These conditions are valid for debit cards, for credit cards only technical overdraft is possible.

Read about the terms of use and pitfalls in my article. It can be very helpful. Especially if you are on the way to choosing the best means of payment.

Unauthorized overdraft

An unauthorized or technical overdraft can occur even if you have never borrowed. And this often becomes an unpleasant surprise, which turns into not only the emergence of debt, but also the accrual of interest and penalties for non-repayment. To avoid this, you need to know the common causes of debt:

1. Exchange difference. This case may arise when you pay with a ruble card abroad. Due to the peculiarities of the banking system, funds are debited from the account in a few days. If during this period the exchange rate has changed sharply, then you can go into the red if there is a lack of funds on the card.
2. Payment of mandatory payments. For example, bank charges.
   I will comment on this case using my example: once a year, in May, a service fee of 450 rubles is automatically debited from my card. I usually withdraw from the card all the money received on it. Result: in May, I went into minus by 450 rubles, that is, a technical overdraft began.
3. Bank technical error. For example, the amount credited twice or vice versa, the withdrawal of the same amount 2 times. The bank notices and corrects the mistake. But the client may not have money in the account, so again a minus.

Avoiding a technical overdraft is easy. He who is forewarned is armed. If we know about the potential to go into negative territory, then it is enough to keep a minimum supply of money on the card or constantly monitor the state of the account in order to pay off the debt on time. Banks often provide a grace period (usually a month) during which we can return the entire amount of the debt without interest.

Connection conditions

Let me remind you that the overdraft is connected with the consent of the client. Sometimes this service is automatically entered into the bank account agreement. Therefore, I never tire of repeating that we carefully read all the documents and ask about all the ambiguities. There is a signature in the agreement, which means that we have agreed with all the requirements of the bank.

The conditions for connecting the overdraft service in banks are different, but here is an approximate list of documents that you may need:

1. Connection request.
2. Borrower's questionnaire on the bank's letterhead.
3. Passport.
4. Another identity document (for example, SNILS, TIN, driver's license).
5. Certificate of income (not all banks require).

As you can see, the set of documents is minimal.

Since the bank agrees to share its money with us, it is quite understandable that it imposes certain requirements on potential borrowers. These may include:

1. The presence of a permanent registration and residence in the area served by the bank.
2. The presence of a permanent place of work and work experience.
3. The presence of an account through which monetary amounts are regularly transferred.
4. Clean credit history.

That is why overdraft is actively connected to salary cards. Banks often call the client themselves and offer this service. It will be appropriate here to explain how a debit card differs from an overdraft card.

Remember! When you pay with a debit card, you only have control of your own money. And not a penny more. If you have activated the overdraft service, you can borrow the missing amount from the bank. But this is no longer yours, but other people's money, which must be returned.

Overdraft is a short-term loan. Its terms vary from 6 months to 1 year. During this time, you can lose or change your place of work, move, etc. Therefore, banks require periodically to renegotiate the contract. So they reduce the risks of non-return of the money provided to you.

How overdraft works: differences from a loan

This service works in the same way as any loan. I borrowed, which means that after some time it is necessary to return it and pay interest for the use of other people's money.

Although overdraft is a kind of consumer loan, there are still differences between them.

Benefits of overdraft, or what it gives to a competent user

Traditionally, I will consider all the advantages and disadvantages of an overdraft card.

Advantages:

1. This is a non-earmarked loan, so you can spend it on anything.
2. The amount is constantly renewed. No need to go to the bank and apply for a new loan. The main thing is to pay off on time.
3. No collateral or guarantors.
4. Interest is charged only on the amount that you borrowed, and not on the entire available limit. If you do not use overdraft at all, then no interest is charged.
5. You can use the money at any time, regardless of the opening hours of the bank.
6. You can cancel the service at any time.

And, of course, the disadvantages:

1. With all the availability of money, one should not forget that this is a loan. Repayment is obligatory and inevitable.
2. Interest is accrued daily, and the amount is repaid in one payment, automatically when money is credited to the account.
3. We have to renegotiate the contract often (usually once a year).
4. Credit limit (as a rule, does not exceed the monthly receipts on the account).
5. High interest on the loan. The Bank thus compensates for its risks.
6. The ability to go into a technical overdraft without knowing it.
7. The temptation is great to get carried away with readily available money and lose control over spending.

How to disable overdraft

To refuse this service, it is enough to write a statement about it. The agreement will be terminated if there is no debt to the bank.

Please note that if you change jobs, it is not enough to just throw away the payroll card of your former employer. Contact the bank or check yourself if there is any debt. Otherwise, you can get an unpleasant surprise in the form of accrued interest and penalties for untimely repaid debt.

Some banks practice the impossibility of disabling overdraft. This must be included in the contract. In this case, when concluding it, you can specify a zero limit on receiving money.

Conclusion

Everyone chooses for himself what money he will live on, his own or borrowed. There is no need to be afraid of overdraft, but you need to understand how to use it so as not to drive yourself into a debt trap. Keep your finger on the pulse of your finances at all times. Then you can afford a little more than you have at the moment. Agree, this is sometimes vital.

I would be glad if you add your thoughts on this to the article in the comments. Or maybe you have interesting cases from your life? They will provide readers with the experience they need and will be of invaluable help.

The main problem associated with the possession of an overdraft card is that when the balance on the account goes down, the cardholder receives a small loan from the bank - which will then have to pay interest. Ordinary debit cards (most often salary cards are debit cards) allow you to “go into the red” only in emergency situations, for example, when there is a lack of funds to pay for the card service. Users decided that along with the change in status in the application, the status of their account also changed.

What did Sberbank answer?

Bank representatives called the change in the card's status "technical inaccuracy" and said that it would not bring any changes for users. At the same time, a significant number of users on the network claim that until today the status of their card was displayed as "debit", and for unknown reasons has changed only today. Some of them claim that the bank even managed to withhold interest from them. Here is the bank's official response:

The bank's representatives claim that no changes have been made in the terms of service of cards, and no "loans" at interest will be issued to users. According to them, in the mobile application, the cards are displayed as overdraft cards, since this is necessary for the application to work correctly with payments and transfers. In response, users send screenshots in which their "debit" cards have gone to a good disadvantage.

Clients massively complained about Sberbank because of the change in the status of debit cards to overdraft cards. The bank first denied the changes, but then acknowledged the problem and explained the situation.

Users in social networks en masse complain that in the application "Sberbank Online" their status has changed to overdraft. The change took place without the knowledge of customers, who fear that due to the change in the status of the card, they will have to pay additional commissions. Some users considered the incident "the scam of the century", accusing the bank of violating the terms of the agreement.

However, as the press service of the bank explained to DK.RU, no changes were made in the terms of service of the cards:

Certain types of cards are really considered overdraft cards, since it was previously possible to connect overdraft to them as a separate service, but now it is not provided. In the Sberbank Online mobile application, the type of cards is specified correctly, which is necessary for the application to work correctly with payments and transfers. The status of cards from debit to overdraft did not change, probably, some users of Sberbank Online just now drew attention to this. No fees were charged for changing the status of the card, since the status of the cards did not change.

However, as the portal noticed Roem.ru, the massive transition of credit cards from one category to another began recently - this is indicated by a large number of users. In addition, some of the bank's clients claim in the comments that they received penalties and write-offs based on the results of a "technical overdraft", which clearly contradicts what the bank's representatives are talking about.

Sberbank argues that a technical overdraft is never very large, and since September 1, they stopped taking a commission for it. "Tehover" may arise, for example, when paying with a card abroad with an unstable ruble exchange rate, withdrawing money immediately after crediting, and in case of an error in debiting money by a store. In order not to confuse customers, the bank promised to replace the description of cards in Sberbank Online until the end September - All debit cards will be displayed as debit cards.

The head of Sberbank German Gref on September 12 called the story with overdraft cards "fake from start to finish." "This is an obvious fake, for some reason very diligently promoted", - said he.

Overdraft is a form of short-term lending: if there is a shortage of funds in the current account, the bank automatically provides the client with a loan for the required amount within a certain limit. When using an overdraft, the bank can introduce a grace period during which no interest will be charged for the use of borrowed money.

The relationship with banking structures has become a part of the life of every person. We use credit programs, open deposit accounts, pay for utilities, receive wages on cards. Banking services greatly facilitate daily tasks and provide an opportunity for citizens to use new banking products.

What does an overdraft card mean?

To understand what is the profitability of a banking product, you should study the general concept of the term "overdraft", which is this service.

Overdraft is a short-term lending provided to regular customers of the bank on certain conditions, which are previously agreed with the borrower. The funds are transferred by the bank to the client's current account. In the event of unplanned financial expenses, when the amount of money on the account is not enough, the borrower has the right to use the loan funds without visiting the bank's office and signing loan agreements. In this case, the debt should be paid after the expiration of the grace period (period), which is set individually for each applicant. As a rule, such a lending system works flawlessly, because the overdraft is provided only to reliable and trusted clients.

Sberbank overdraft card: what is it?

Sberbank of Russia is the largest retail bank in the Russian Federation, providing banking services to individuals and legal entities. What does the Sberbank overdraft card mean? Having an open current account, the client has the opportunity to use the bank's funds after they have spent their own. For the use of money, the borrower pays an interest rate charged on the amount of the loan funds. Debt repayment usually takes a short period of time (from 30 to 90 days). The overdraft card is opened for a maximum of 1 year, while the presence of a credit history in Sberbank is not a prerequisite for registration. Overdraft lending is carried out on condition that the borrower has a high level of solvency and a stable financial position.

Terms of registration and requirements for the borrower

The amount of the overdraft limit depends on the receipt of funds to the client's account for the last 3 months. The bank has the right to recalculate the admissible loan amount on a monthly basis and independently reduce or increase the limit. The size of the limit can be influenced by the money turnover on the client's accounts opened with other banks. An overdraft card can be issued to legal entities that are corporate clients of Sberbank, as well as private clients, holders of debit cards (salary, pension and others, to which funds are systematically received). An application for connecting the overdraft service is considered within 8 days from the date of submission. For entrepreneurs with a stable business, there is an opportunity to issue an "Express Overdraft" on simplified terms of consideration of the application.

The difference between an overdraft card and a debit and credit card

Despite the external similarity, there are a number of distinctive features by which one can judge how a debit card differs from an overdraft card, as well as what is the difference between a credit card and an overdraft card:

• According to the terms of registration, a debit card is intended for use only with your own funds, without the possibility of a negative balance. The holder cannot spend more money than was credited to his account (salary, pension, social benefits, scholarship).
• A credit card, in contrast to an overdraft, has a grace period, during which the borrower can use credit funds absolutely free of charge (usually 55 days). The overdraft interest rate is charged immediately after the withdrawal of the borrowed money.
• A debit overdraft card provides for the withdrawal of cash without a commission, which is possible for a credit card only for non-cash payments. Debit cards are not subject to restrictions for non-cash payments (taxes, fines, utility bills).
• Sberbank's overdraft card, the limit of which can reach 17 million rubles for large entrepreneurs and no more than 30,000 rubles for individuals, has a fixed debt maturity, while credit card debt can be repaid in installments, paying only interest. The overdraft is repaid by automatic withdrawal of the debt amount from the client's account. You must make credit card payments yourself.

Documents required for registration of an overdraft by legal entities

It is not so easy to get additional financing from Sberbank in the form of an overdraft card. The bank provides borrowed funds to verified clients who have a stable financial position and correspond to the status of a decent payer. To open an overdraft account, legal entities must provide a large package of documents:

• loan application;
• applicant's questionnaire;
• borrower's passport;
• company registration certificate;
• copies of constituent and statutory documents confirming the legal capacity of the client;
• copies of the company's charter;
• documents confirming the company's cash flow;
• financial statements for the last date.

The bank has the right to request additional certificates to check the financial situation of the client and his solvency. The application is considered by the bank from 3 to 8 days, while the service itself is provided to the borrower after at least 3 months, during which the bank checks the cash receipts to the client's account and calculates the maximum loan limit. When all the formalities are met, the credit funds will be transferred to the client's current account, which means that the Sberbank overdraft card is activated.

Card for private clients

Not only large entrepreneurs, but also individuals who hold bank cards can apply for a short-term loan from Sberbank. What does an overdraft card mean for private clients? The difference when applying for a loan is the amount of the cash limit. The bank can lend money to participants of salary projects and retirees in an amount not exceeding 30,000 rubles. To apply for an overdraft by individuals, it is not required to provide a voluminous package of documents, the borrower must provide a passport of a citizen of the Russian Federation and an application. Sometimes the bank requires a second identity document (military ID, driver's license), as well as a certificate of income.

How to pay off debt

There are two ways to repay the overdraft debt:

• Periodically (every month) the full amount of money required to repay the loan is debited from the borrower's account together with accrued interest (from 18% per annum in Russian rubles).
• Partial debt repayment, depending on the financial condition of the borrower. The client pays off the amount owed for each used tranche by automatically debiting the required amount from the account.

In case of exceeding the limit, the interest rate on the loan can be increased at the discretion of the bank up to 36% per annum. In addition, for connection of the service from legal entities, an additional commission is charged in the amount of 7,500 to 50,000 rubles (flat rate - 1.2% of the established limit).

How to disable the overdraft service?

For many clients, the bank connects the overdraft service in the process of issuing any debit card. As a result, the Sberbank overdraft card becomes available to the holder for use. What is it and how to refuse an unplanned loan?

As a rule, it is impossible to deactivate the service after signing the contract. However, you can try not to allow a negative balance on the card, thereby not using credit funds. You can also set a zero overdraft limit when issuing a debit card, to which the short-term lending service is automatically connected. The bank is not entitled to increase the overdraft amount without prior agreement with the client. The overdraft card is not valid after 1 year from the date of issue.

Sberbank customers began to complain that the status of their debit cards in the state bank's mobile application had changed to overdraft.

For several Vedomosti employees, the status of the cards has indeed changed. An employee of the Sberbank call center told one of them that the application is malfunctioning today, so some cards began to appear as overdraft cards: soon the problems will be fixed, and the cards will again be displayed in the debit status - their terms of service have not changed. However, another employee of Vedomosti was told at the call center that displaying debit cards as overdraft cards is necessary for correct work with payments and transfers. At the same time, there were no changes in the conditions of service, they specified there.
On the Vkontakte social network, Sberbank said on its page that it receives many questions about the fact that the state bank has changed the conditions for servicing debit cards: “This is not true - you cannot spend more money on a debit card than you have. The exception is technical debt, on which Sberbank does not charge interest. Only you yourself, not the bank, can authorize overdraft on the card. " An employee of Vedomosti, whose debit card began to appear as an overdraft card, tried to pay for a larger amount than is available on his card - this could not be done, since the bank refused to make payments due to lack of funds.
All Sberbank cards are debit overdraft cards, but they are divided into cards with an unauthorized overdraft, when the card cannot go into a minus, and with a permitted one, when the card can go into a minus when buying, another call center employee said. A card with an unauthorized overdraft can only go to the minus when the bank's commission is written off: for an annual service, a mobile bank service, SMS notifications, if this service is paid. And for example, in the case of the arrest of accounts, says the interlocutor of Vedomosti in the call center.
A representative of Sberbank confirmed that neither payments nor transfers of funds with a zero balance on a debit card are carried out. In the Sberbank Online mobile application, cards are indeed displayed as overdraft cards, but this is necessary for the application to work correctly with payments and transfers. “The information disseminated on the Internet does not correspond to reality,” he stressed.
In rare cases, technical debt is possible - when an amount that exceeds the available spending limit is debited from the card. "Of course, since the clients are not to blame for the formation of such debt, no penalties or interest are levied or charged," Sberbank said. Technical indebtedness arises, as a rule, when paying for foreign trips and when transferring from card to card.
What is the difference“What is called a credit card can be a credit card or a debit card with an overdraft - there is no clear regulation on how to account for cards with a limit,” says Yuri Gribanov, CEO of Frank Research Group.
A credit card, unlike an overdraft card, has a revolving nature - you can be in the red for an infinite amount of time, fulfilling the terms of the contract, he continues. For cards with overdraft, it is possible to go into the minus only for a certain period - for a month, for example, or for two. At the same time, technical overdraft is possible on almost all debit cards, he notes.
The difference between a credit card and an overdraft card is that they shape different customer behavior, says a top manager at a large bank. In the case of a credit card, the client understands that these are not his funds, and spends them more meaningfully, he continues. A credit card differs in that it provides a minimum payment, a repayment schedule and, as a rule, it has an interest-free period, the banker lists.
And when an overdraft is set on a salary card, as a rule, in two salaries, a person does not always understand that he has gone “into the red” and is using not his own money, he explains. And he adds that when a salary comes to a card with an already selected overdraft limit, it is automatically debited to the repayment account. “It turns out that the client is already constantly living on borrowed funds. It may be good for the bank's income, but there is also social responsibility, since not all clients have financial literacy, ”the banker concluded.
Sberbank planned to introduce overdrafts on debit cards, recalls one of the bankers: this is how the state bank hoped to earn on interest.