Cumulative card: advantages and disadvantages

As practice shows, the confidence of depositors in bank deposits in times of crisis is sharply reduced. In order not to lose customers, they created a new financial instrument - a savings card. About what a memory card, as well as its advantages and disadvantages, will be discussed in this article.

General concepts

This type of card is no different from ordinary debit cards, except for one - it can be accrued interest. Naturally, the bonus funds will be received on the amount that is available on the balance of the account. You can use deposit funds at any time and at your discretion. Bank cards can be opened by individuals. Instead of piggy banks and wallets, which are easy to lose, such payment instruments have received great confidence of citizens.

How to issue a credit card

First of all, you should determine the bank in which the client wants to receive it. It is better to give preference to state financial organizations, because all contributions to them will be insured. So, a citizen who has reached the age of 18, can apply to the bank with a request to issue this financial product. It will be necessary to write an application for receipt and carefully study all conditions and tariffs, so that in the future there will be no disagreements. Also, you need to present an identity document and wait for the manager's response. For example, the Savings Bank savings card will be ready in 10-14 days. In order to find out the result, you need to call the bank's hotline and ask the operator about the payment product readiness or contact the nearest branch of the financial institution.

You can apply for registration using the official website of the bank. To do this, go to the "Documentation" section and fill out the form. Within a certain period of time, there will be a response about the possibility of receiving a deposit product or a refusal.

Advantages of memory cards

Those citizens who use the service of accumulating deposit funds on their payment card receive distinctive advantages over those who do not have this financial product. Now you do not need to carry a bundle of money and be afraid that they can be stolen. In addition to the safety of funds, the client receives additional interest on accumulated deposits, that is, the amount that is on the account. According to the contract, this amount should be equal to or higher than the established minimum. Each bank has its own requirements and tariffs. Another advantage is that the client can partially withdraw the deposit from the account, but only to a certain level. Of course, everything depends on the conditions of the bank. For example, the savings card of Sberbank gives privileges to those customers who have more than one hundred thousand rubles on their account. Such persons receive free service by means of bank cards. In addition, the more accumulated funds, the higher the interest rate becomes .

In addition to the above advantages, with the help of this financial instrument you can pay in the store. Also, the cumulative card allows you to transfer interest on the credit card. In some cases, it helps a lot to avoid a loan.

disadvantages

In addition to the advantages of a cumulative card has drawbacks. For example, you can not withdraw the entire amount from an account through a payment instrument. Otherwise, all deposit interest can be withdrawn. It will also be necessary to replenish the balance every month for a thousand rubles or more. Naturally, the higher the amount, the greater the percentage and passive income of the client. If a person remunerates for this card, he can not remove it completely. In addition, you always have to control your expenses in order not to reach the minimum amount. Some banks suspend interest charges if the amount on the card becomes below the required level.

Features

As can be seen from the above, nothing complicated is to get such a universal financial product as a savings card. What you should pay attention to is the conditions of the bank. In some cases, tempting interest threatens with the impossibility of withdrawing funds on their own. Also, there is no need to pay additional commissions for the opening of a banking product, since this should be carried out at the expense of the bank.

Choosing between opening a deposit and a savings card, it is still worthwhile to choose the first one. This is explained by the fact that in the deposit account, interest will be much higher.

There is one more kind of card systems - this is a savings discount card. It almost does not differ from the above. Only with its help can be more profitable to pay in stores and supermarkets. There is a special discount system, which allows you to save even more.