The popularity of cashless payments is increasing every day. With a plastic card, you can pay bills in a store, cafe, restaurant, at gas stations, in medical centers, etc. For payments in Russia, an account in rubles is opened. A debit card is attached to it . But what if a person goes abroad? Which card is better to open? Currency. She doesn’t hit the wallet so much during times of crisis.
Cash or card
A few years ago, before traveling abroad, Russians bought dollars and euros at exchange offices. Many still do this. But it’s better to get a bank card and store funds on it. Then you don’t have to carry a wad of cash, and in case of loss of plastic funds can be blocked. In the most difficult situation, relatives can always replenish your account in rubles.
A currency card in Russia is not as popular as a regular debit card. Users have a ton of questions. Can I pay with it in a European store? What is the bank commission? Where is the best way to withdraw funds? How to protect yourself from scammers?
Types
The most widely used payment systems in the world - Visa and MasterCard - issue plastic cards in any currency. They can be calculated in a store where there is a corresponding logo. But many regions have their own nuances. For example, in most European outlets do not accept plastics without a chip. In Germany, it’s easier to pay with a Maestro card. Geopolitics also matters. The currency card issued by the Armenian bank will not operate in Azerbaijan. In Central America they do not accept credit documents issued in the USA, etc.
In countries with the tourism industry, there will be no problems with cashing out funds. If you are going to sparsely populated places, it is better to exchange money in Russia in advance. On the road, you should take not one, but at least three cards: salary, currency and credit cards. The main thing is that they are issued by VISA or MasterCard in different banks.
Costs
For trips to Europe, you should open a currency card in dollars or the United States. Ruble Visa Classic and MasterCard Standart abroad will accept. But the purchase will cost more due to conversion rates. What it is? If the invoice is issued in international currency (dollar, euro), the amount will be converted into rubles at the exchange rate of St. Petersburg. If the goods are paid in Swiss francs, then the figure received will once again be converted to the account currency. A commission is charged for each such transaction.
Do not also forget about the exchange rate difference. At the time of purchase, the amount in the account is blocked. Write-off occurs when the bank receives a confirmation of the transaction. The time difference takes several days, during which the course changes.
For the withdrawal of foreign currency from the ruble account, the commission is charged by the issuing bank that issued the card and the partner who serviced it. There are also limits on cashing money, which should be clarified before traveling abroad.
Security
Cases of plastic fraud are common, but extremely rare. The attendants are not able to duplicate the data. All operations take place in front of the user. The Priorbank currency card has an electronic chip, PIN and CVV codes. Additionally, users can activate the SMS-informing service on the movement of funds, impose restrictions on debiting amounts from the account during the day or in a certain country, etc. In theory, the bank is obliged to refund the stolen amount if the client has notified about the theft of money within 24 hours receiving SMS.
Ruble VS currency card of Sberbank
At the end of 2014, many users complained that for purchases in foreign stores, a larger amount is debited from the account than in the invoice. For December 17, the ruble at the interbank market fell from 61.1 to 80. All debiting funds for purchases in foreign stores is carried out at a new rate. As a result, the owners of the ruble cards formed an overdraft. Many financial institutions have a rule according to which a client’s debt on one account can be repaid at the expense of another. The same rule applies to online services and ATMs. When the terminal issues the requested amount in foreign currency, this does not mean that the money has actually been debited from the account. This situation describes the advantage of currency cards very well. They are not subject to exchange rate differences. How not to lose money during periods of ruble devaluation? Make a currency card and pay for goods in foreign stores and services.
What you should pay attention to
Before opening an account, you need to determine the class and type of payment instrument. Standard and premium cards provide customers with more options. But their service will cost a pretty penny. A MasterCard Standart or Visa Classic currency card is issued for $ / € 10-15. With their help, you can withdraw cash, pay for goods, rent, hotel reservations, flights. Cards of a higher class perform the same functions, and also emphasize the financial status of the holder. Technobank offers its customers to issue Visa Gold or Visa Platinum for 10 and 50 dollars. e. respectively. The first year the service will cost the holder $ / € - 30-50, the second - $ / € - 40-100. The commission for cashing out funds is set in a fixed (2-3 c.u.) and variable (2-3%) value.
Choosing means of payment for other systems is not worth it. The same American Express is not yet accepted in all countries of the world. A currency card opens in dollars or euros. Invoices in other monetary units are paid at the cross rate. For tourists who travel a lot, it makes sense to open a multicurrency account. In this case, one plastic can pay for goods in rubles, dollars or euros. The cost of service for the entire period will be 10-55 dollars.
A type
The most common debit cards are used as an electronic wallet. A credit card in foreign currency can be issued only by clients with a high level of income. It is better to choose programs in which interest accrues on actually used funds. The best option is savings cards. With their help, you can pay bills and increase capital. The average rate is 5% per annum. It still depends on the bank and the terms of service.
When issuing a currency card, the client immediately opens an account in the appropriate currency. You can make purchase and sale transactions directly in online banking. But to transfer funds between individuals, you will have to open a transit account. Such a rule, in particular, applies to Sberbank. Tinkoff offers its customers to replenish their account directly through the CONTACT transfer system online and without commission. For the operation it is enough to indicate the number of the payment instrument.
Terms of use
Which currency card is better - in each case, the person decides for himself. The most attractive for customers is a credit card in dollars or euros. Borrowed funds are provided at a lower percentage, and there is no need to pay a conversion fee. But if you use such a means of payment in Russia, then the amount will automatically be converted into rubles at the current rate. Cash withdrawals are quite difficult. And in order to replenish the account, you will have to exchange rubles for dollars or euros.
Advantages of currency credit cards:
- The interest rate for services is 2-8 points less in comparison with the ruble account. Commission is usually set for the entire period of the card.
- This means of payment can pay for purchases in foreign online stores. The main thing is to remove the restriction on online operations in the bank.
- When applying for a card, you need to pay attention to its capabilities. People who travel frequently should choose plastics with the maximum range of services. In this case, the holders will receive discounts from partners of the financial institution and payment systems.
Currency Savings Cards
The yield on payment instruments in foreign currency hardly exceeds 5% per year. While the rates on deposits in rubles are almost 10 times higher. Does it make sense to take risks?
Cards are perfect for people who do not want to part with their savings for a long period, want to always keep them handy (and not in a glass jar at home) and get a nice bonus. Rates on them are 1-2% lower than foreign currency deposits. In addition, you can always connect mobile and Internet banking to the card.
But there are a few drawbacks. The first is the minimum balance. Part of the funds in the account are “frozen” for the entire period of its validity. After the specified time, the money is returned to the owner. The second drawback - a yield of 4.5-5% is provided only for amounts over several thousand dollars.