As practice shows, the confidence of depositors in bank deposits during crises falls sharply. In order not to lose their customers, they created a new financial instrument - a funded card. About what a funded card is, 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 - interest may be accrued on it. Naturally, bonus funds will be received for the amount that is available on the account balance. You can use deposit funds at any time and at your own 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 trust of citizens.
How to apply for a savings card
First of all, you should decide on 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 him this financial product. It will be necessary to write an application for receipt and carefully study all the conditions and tariffs so that in the future there are no disagreements. You also need to provide an identity document and wait for the manager to respond. For example, a savings card of Sberbank 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 readiness of the payment product 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 "Paperwork" section and fill out the proposed form. Within a certain period of time, an answer will come about the possibility of receiving a deposit product or about refusal.
Benefits of funded 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 packs of money and be afraid that they can be stolen. In addition to the safety of funds, the client also receives additional interest on accumulated deposits, that is, the amount that is on the account. According to the contract, this amount must 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, it all depends on the conditions of the bank. For example, a 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 through bank cards. Moreover, the more accumulated funds, the higher the interest rate becomes .
In addition to the above advantages, using this financial instrument you can pay in a store. Also, an accumulative card makes it possible to transfer interest to a credit card. In some cases, this helps a lot to avoid getting a loan.
disadvantages
In addition to the advantages, the memory card also has disadvantages. So, for example, you cannot withdraw the entire amount from the account through a payment instrument. Otherwise, all deposit interest may be withdrawn. You will also need to replenish the balance monthly for a thousand rubles or more. Naturally, the higher the amount, the greater the percentage and passive income of the client. If a person transfers wages to this card, then he will not be able to withdraw it completely. In addition, you always have to control your expenses so as not to reach the minimum amount. Some banks suspend interest if the amount on the card falls below the required level.
Features
As can be seen from the above, there is nothing complicated in getting such a universal financial product as a funded card. What you should pay attention to is the terms of the bank. In some cases, tempting interest threatens the impossibility of withdrawing funds on their own need. Also, you should not pay additional fees for opening a banking product, as this should be carried out at the expense of the bank.
Choosing between opening a deposit and a savings card, you should still prefer the first. This is explained by the fact that the interest on the deposit account will be much higher.
There is another type of card system - this is a cumulative discount card. It is practically no different from the above. Only with its help can it be more profitable to pay in stores and supermarkets. There is a special discount system that allows you to save even more.