Credit cards are giving way to innovation Crisis - deposit cards, suggestive of increased accrual of interest on the balance in the account.
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Plastic Card Deposit symbiosis that emerged at the turn 2008-2009, successfully combines the properties of the deposit with the possibility of free depositing and withdrawing savings and regular payment card. Living in Ukraine had time to get used to the payroll card that allows ATM to withdraw Cash and pay in stores, can now use the principle new product. "Today, many banks as the largest and medium-sized in size, offer your customers "- says financial analyst company "Prostobank Consulting" Ivan Nikitchenko. - These products are the one hand, provide the investor access to savings through card. On the other hand, are assumed to be higher than for standard credit cards interest on the balance. Nevertheless rates on such deposits is lower than in the classic deposits. " Actually bank customer receives a full payment card that can be used without any restrictions, with the balance of funds are awarded higher interest. "This product combines the best qualities of the card and the deposit: provides non-stop access to the account and at the same time is an effective tool to generate additional income. After account balance is always at work, bringing a card holder profit, " - Said the head of products and sales channels, business card VAB Bank's Yelena Soboleva, Tereshchenko. Compromise Deposit to the crisis Financial products that can be grouped under the title "deposit cards ", as adapted to the needs of ordinary bank customers In the current economic conditions. This symbiosis has become for many banks trump card, which even in conditions of instability provides a good chance to win to compete for customers. "The beginning of the crisis in the banking system was characterized by negative attitudes of investors and the flow of individuals' funds - says the head of product development systems and individual bank's business "Forum" Maxim Zhirkov. - During this period, in our bank conducted marketing research and found that in unstable economic situation, the highest priority for savers is rapid access to placements. Therefore, before Bank experts were given the task - to quickly develop and run product that meets such demands. " Despite the fact that universal savings accounts with easy access to a number of savings banks began develop before the crisis, it is the turn of 2008-2009, such products Reinforced plastic card and elevated percentages are for financial institutions means rapid response to extreme conditions. "Deposit cards began to appear actively in the current year due to the outflow of funds with the classical savings accounts, - confirms the trend Ivan Nikitchenko. - Declare a moratorium on early withdrawal of deposits, the introduction of an interim administration a number of banks has led to the fact that clients of all financial institutions have begun fear of losing their fixed deposits. Therefore, actual steel deposit cards, which allow investors to freely dispose of the funds and banks make it possible to close the current liquidity problem. " Despite the fact that today the situation in the financial sector more or less stabilized, a moratorium on early withdrawal of deposits withdrawn, Ukrainians still afraid to cooperate with financial institutions. "Even now, when stably Banks have the opportunity to work prematurely withdraw funds from futures deposits, people feel more confident if they know that they have a free access to your money, guaranteed by the bank "- confirm the trend the press service of VTB Bank. Deposit card in full to satisfy the this need of investors. Therefore, senior expert of deposit OTP Bank products Vyacheslav Fomenko recommend such programs to customers who need constant access to their money, because the card can investor to take advantage of resources not only in the operating time of the bank, but at any time of day, including weekends. "We advise use these products to customers who shoot term deposits, but do not have specific plans for the future use of these means, - said director of business with payment cards Bank "Kievan Rus" Alexander Drozd. - Such deposit products, we recommended for those who have already opened the payroll card at our bank. With these Customers can transfer money to deposit our card products, To then use the money as needed. " On loan Today, do not expect to deposit cards promise to yield quite comparable to those of term deposits that banks could offer the crisis. For example, a card product "active savings" VAB Bank entered into at the end of March 2009, provides for the rate of 14-16% pa in UAH, interest capitalization, 8-10% in U.S. dollars and to 7-9% per annum in the euro. The bank "Forum" in October of 2008 began to operate contribution "Vіlny ruh" and international payment card "Vіlny ruh." Within This program is charged on the balance of 14-17% in UAH, 10-10, 75% USD, 9-9, 75% in euros. The interest rate depends on the actual balance on the card account. In the Bank "Kievan Rus" launched two similar Product: "Groshі On-Line» (15, 5% pa in UAH, 9, 5% in foreign currency) and "Kartkova Skrinka "(16% pa in UAH, 10% in U.S. dollars and euros). VTB Bank is also offers a program that combines the properties of the deposit and payment card. "Skarbnichka" opens in one of three currencies: UAH, USD or Euro interest rates are respectively 14%, 10% and 10%. Other financial institution of the largest group - OTP Bank - is developing a similar deposit and its plans to launch a few months. So choice of deposit cards in the near future can expand. When choosing the best program investor should pay attention to such an option deposit cards, as the minimum balance. Speech comes to set the bank the amount that will be unlocked and returned to the client only when you close the card account. "The only thing that is different map "Skarbnichka" from the usual payment cards - is the presence of minimum residue, which need to be made once when you make an account - report the press service of VTB Bank. - Depending on the currency in which has been opened deposit card, the amount of 300 hryvnia, U.S. $ 60, or 60 Euro. The residue can be collected only at termination of the contract. " Two depository bank card product "Kievan Rus" are not only level of interest rates, but also by the minimum balance. Thus, for program "Kartkova Skrinka" he is 1,000 hryvnia. "Guided the wishes of clients who did not like the obligatory presence of minimum the remainder in 1000 hryvnia, was offered a second, like a deposit card product "Groshі On-Line». In this case, the account will be blocked only 10 hryvnia "- Alexander Drozd. But to get a loan with an income card will not work - such programs do not provide it. The price of freedom Demand deposits, especially the card products with increased interest on balance, have potential risks for banks. "Such deposits can not be assigned to long or even medium-sized resources - Said Ivan Nikitchenko. - Therefore, relying on them, financial institutions difficult to predict the available funds and start lending. " However, According to Alexander Drozd, the bank does such financial products not useless, because of these uncontrolled term resources is still costing cheaper than classical deposit. Therefore, banks which have a deposit Cards are going to actively develop this area into perspective, and other financial institutions plan to develop and implement similar programs. "I think these card products will live forever, but to stabilize the financial situation in the country can change their conditions - forecasts Alexander Drozd. - For banks, these products can be chip, attracting new customers. " In August-September 2009 against the background of a tangible reduction in price hryvnia currency demand deposits were at risk. Nevertheless, the devastation of such a panic commercial card accounts banks are not marked. "Reallocation of hryvnia to the currency on card accounts during this period was negligible, - said the head of products and sales channels, business card VAB Bank's Yelena Soboleva, Tereshchenko - This is so that the average balance of our deposit map "Active savings" is 8, 5 thousand hryvnia. And with such volumes operations to convert funds from one currency to another impractical. " According to Alexander Drozd, a customer activation, removing cash from card accounts, was observed when the banks were selling cheap dollar.Tem at least this process has not received widespread. However, investors prefer foreign currency deposits is not the first month. "For all deposit products characterized by a decrease and an increase in the share of hryvnia currency component in deposit portfolio - said Vyacheslav Fomenko. - This trend since the beginning of this year and is exacerbated in periods of weakening hryvnia. " Despite the existing foreign exchange risks, the banks that have implemented deposit cards assigned to them by great expectations, and the results of the first months of similar programs evaluated positively. In particular, according to Maxim Zhirkov contribution "Vіlny ruh" - thanks to a combination of profitability and the possibility of control over their own savings - can be called one of the leaders market growth rate of money. In the VAB Bank over the past two months, recorded increase in deposit balances card accounts, which is 200% eschemesyachno. The bank "Kievan Rus" dozens of new bills open daily. "Product" Skarbnichka "among customers has grown steadily - the press service of VTB Bank. - This can be seen increase the proportion of funds raised through this product in the deposit portfolio of individuals. Therefore, VTB Bank sees great potential deposit in the map. According to our estimates, the volume of the product in the portfolio Bank before the end of the year will increase by several times. " But worth a look and on the opposite side of the coin. Against the background of such an active development of card deposit accounts of plastic cards with credit limits go from financial market. With every passing day fewer and fewer banks offering once a popular financial product. Apparently, the "credit" will be wait for better times with the frozen mortgage.
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