Not so long ago, the majority of financial institutions of the Russian Federation replaced their social pension cards with a single payment system Mir. The most famous Sberbank in Russia was no exception. How interest is calculated on the pension card of this financial institution, we will describe in the publication.
What are cards?
Pension card - a plastic carrier issued by Sberbank of Russia. The product contains a bank logo, a black magnetic line at the back, a picture on the front side and a three-digit code on the other.
The only distinguishing feature of such plastic is the accession to a single domestic payment system. It is with her that Sberbank has been working recently. Are interest accrued on the retirement card? Of course yes.
Briefly about the reasons for the transition to a unified payment system
The main reason for the transition of most financial organizations to a single domestic payment system is a disruption in working with giants such as Visa and MasterCard.
The presence of regular failures is directly related to the inclusion of new sanctions. At the same time, dependence on such payment systems made customers of all ages nervous and worried about their savings or accumulations. Many at that time were interested in the question, how many percent are charged on the pension card of Sberbank? And most importantly, will it be possible later to withdraw the dividends earned?
In 2014, the domestic payment system Mir was launched. And the published law on the Russian payment system of a single sample forced all banks to connect to it. Sberbank did this in 2016, transferring all its customers to the domestic payment system Mir.
What are the features of a retirement card?
The pension card of this financial institution is issued and issued free of charge. There is no annual service charge. The expiration date of such a card is five years. You can order plastic online, by phone or at a personal visit. It’s quite possible to pick up the finished one in three working days.
The fee for cashing money from the card is usually not charged. But provided that you are trying to withdraw cash exclusively in the Sberbank network. How is interest accrued on a retirement card?
Is the principle of interest calculation of the Mir card different from the previous version of the municipal pension account? And how to switch from the old kind of service to the new?
How many percent are credited to the card?
According to the developers of retirement plastic, getting money for it is very profitable. Indeed, the interest is accrued on the balance of a Sberbank pension card. According to representatives of a credit institution, 3.5% per annum is added to the residual amount.
It is noteworthy that interest is accrued only on the balance of the amount transferred by the state pension fund. If receipts from other sources go to your card, the amounts received in the bonus and accumulation systems do not participate.
What and how is the interest accrued on the pension card of Sberbank?
In addition to the interest on the current pension account balance, interest-bonuses under the “Thank you” program are accrued. Taking part in this project, it is enough to make purchases in the indicated places and receive an additional 0.5% of the amount purchased from Sberbank and up to 20% of the amount from partners of this financial organization.
You can spend accrued interest on a Sberbank pension card, as in the case of bonuses from the “Thank you” program, for purchasing airline tickets, booking hotel rooms, receiving tickets for shows, performances or a concert. They are also spent on obtaining discount coupons and certificates in stores.
On what conditions are interest calculated?
In order to have the opportunity to accumulate additional funds for a pensioner, certain conditions must be observed. Interest is accrued on the pension card of Sberbank, as the owners themselves say, subject to an open current account.
To do this, you must personally visit the nearest branch of Sberbank with a passport, SNILS and a certificate of the type and amount of pension, other municipal payments of the Pension Fund. This is one of the most important conditions.
The second important point is the presence on the account of money credited from the Pension Fund of the Russian Federation. Accordingly, the larger the amount, the more substantial your reward will be. The countdown for calculating interest is from the very first day that the card was opened. Interest is charged once per quarter. Consequently, the nearest interest rate for each new cardholder will be credited exactly three months later at the end of the quarter.
How to be retired with old cards?
All the above conditions apply to the holders of the new plastic, connected to the unified domestic payment system Mir. But how is interest accrued on the pension card of Maestro Sberbank?
According to the current rules of the bank, the transition from the old payment system to the new one takes place automatically. As soon as the card expires, a transition occurs. However, it is possible to do this earlier, but subject to personal appeal to the bank. To do this, you need to write a statement and provide the above documents.
After transferring to a new payment system, all previous accumulations and amounts are transferred to the issued Mir pension card. The automatic process of transition to a new system is not fast and is designed for three years. According to experts, a full switch from one system to another will occur before July 1, 2020.
What are the benefits of a new card?
The transition from the old payment system to the new has several advantages. The first and most important plus of the new pension card is its reliability. The domestic operator of the monetary system is more reliable than its international colleagues in the market. This means that cardholders should not be afraid of blocking their plastic from the outside. The normal functioning of the Central Bank of Russia is the best guarantee of the smooth operation of the program.
The second important point is security. According to the developers of the card, it becomes clear that their offspring fully complies with international standards. It is equipped with a protective magnetic chip. But at the same time, Mir cards operate on their operating base.
Moreover, the microchip of this plastic has passed the certification of Mastercard. It is protected from external penetration, temperature drops, electrical effects. He is able to overwrite the information available on it and store it for as long as 10 years.
Another plus is close cooperation with other financial organizations. According to the existing agreement, Sberbank’s “Mir” pension cards are accepted by other financial institutions. ATMs and terminals also work with them. Virtual transfers are made, online purchases are made. However, all these actions are available only in Russia. Outside the country, they do not work. At the same time, most of the working services are located in Moscow. The connection of other regions takes place in stages, and the process itself is extremely slow.
As for opinions about the new payment system, the majority of citizens of the Russian Federation took this innovation positively. True, not everyone loves change. This is especially true for people of advanced age, many of whom still have difficulty handling plastic media. How are you doing with bank cards?