All individuals and legal entities that haveaccount in the bank, can, if desired, apply for a loan in the form of an overdraft. The word "credit" is understandable today even for the student, but that's what the overdraft account stands for and why it can not be called a loan is not known to everyone.
Why open an overdraft
If you need to close a hole in the paymentturnover, it is possible to issue a bank loan with huge interest rates, but an overdraft. Suppose you have a bank account in a bank, you use it not only for profit, but for deducting certain amounts to the customer. At some point, the required amount was not on the account, and it is necessary to transfer money as quickly as possible. Receipt of funds to your account should occur in a day, but the customer can not wait. To urgently transfer money to the customer, an overdraft card is used. This type of loan should not be confused with a loan or other financial transaction. At registration a certain type of card is issued - overdraft.
Examples and specific figures
To be more understandable term "overdraft card ", that it is, here is a concrete example with figures on which you can understand how this type of loan works.
In the morning on the balance of the entrepreneur 10 000 rubles.He on this day goes to the bank and signs an agreement to open an overdraft limit for the amount of 1,000,000 rubles. Using paper medium, the entrepreneur gives an order to the bank for the amount of 100 000 rubles. The necessary money is transferred to the counterparty by the bank, including through overdraft. It turns out that an overdraft businessman remains to the bank 90 000 rubles, but he still has 910 000 rubles in the limit, which he can use if necessary.
Suppose next day to the accountthe entrepreneur receives an amount of 120,000 (for example, the money was transferred by the counterparty). Debt on a loan in the form of an overdraft is repaid, and the free limit of funds that an entrepreneur can use is restored again. It turns out, the next day at his disposal again the amount of 1 000 000 rubles. Here is a descriptive example that reveals the essence of the question of what an overdraft bank card is.
For what purposes can you spend the limit of money issued by the bank
Virtually any bank exercises control overmoney, which he gave in loans to a legal or an individual. If the borrower has his own business, then the overdraft is used to pay bills, pay wages, taxes, make advance payments for work, repay loans, and so on. The bank will not let you use the cash limit if you forget to pay taxes or loans and have already paid a penalty. If the borrower has had such a case, the bank will not allow him to even buy non-current assets from the overdraft.
Force Majeure, or Overdraft Indebtedness
It is impossible to foresee what will happen tomorrow, aswill go your business. If you did not calculate your options and the right amount of money did not go to your bank account, then this is not the worst, provided that the limit of the bank loan was not affected. Overdraft card - what is this about the debt owed to the bank?
If you still use this viewloan, and the receipt of money in the bank did not happen before the date agreed by the agreement, the payment can be made in cash at the bank. If the borrower has a second account to which money is constantly received, then you can transfer it to the one where there is an overdraft debt. All transactions take place within one working day.
When signing the contract you must have a clearmarked the date until which you want to make money. As a rule, this is the 30th day since the opening of the credit limit. Some banks are asked to cover the debt before the 20th day of each month, regardless of the opening date of the limit.
What are the conditions for opening an overdraft card?
For a bank loan borroweroften you need to have with you a lot of references and documents that prove its solvency. If a large amount of money is required, guarantors may be required. Overdraft card "Sberbank" Visa Classic provided without a pledge of property.It is enough for the bank to see your monthly cash receipts on the account. Based on the amount of cash flow and it is decided how much you will issue an overdraft. It is not excluded that the creditor will require guarantors, it may be the director of the company, the owner, co-owner and other persons related to your type of activity.
Who can refuse to issue funds
Overdraft card - what is it, is it given to everyone?It would seem that if there is an account to which a certain amount of money is regularly received, why should the bank refuse to issue an overdraft? It turns out that using the account is not enough, you also need to have a positive credit history. Before making a decision, the bank will check not one applicant, but the entire enterprise. If it seems to him that it is being liquidated in a couple of months or will not generate income, then the loan will most likely be refused. In addition, the applicant’s current account must be trafficked for at least three months.
Overdraft agreement validity terms
With a positive result with the borroweran agreement is made for 180 days or more. Every 30 days the amount in the account must be replenished to cover the overdraft debt. With full repayment of the debt to the bank, the borrower has the right to terminate the contract. It is also allowed to issue a new agreement after 180 days. Interest on such an agreement has always been less than the loan at the bank. The terms of overdraft are much more loyal, since interest on the use of money is charged only on the balance of debt at the end of the working day.
With the resulting debt, the bank has the rightin the shortest time to demand your money, and if you have such a situation, then the blacklist and bad credit history are provided to you. Overdraft is given in one currency, one borrower and in one bank.
The best loan
Overdraft card - what is it for the borrower:benefit or debt pit? Often, a person cannot plan his expenses, and when receiving a salary, he starts buying a bunch of unnecessary things. At the last moment, he recalls that the most important thing has not been acquired, and not all payments have been made on time. You can contact your family and friends for help, but not everyone has friends who can freely borrow the necessary amount of money for several weeks.
Not everyone likes to lend money.Many are guided by the following principle: if you want a person to leave your life, lend him money. Why test the theory in practice, it is better to simply give up the debt, citing difficult financial times. Why take a detour, if you can borrow from the bank for the same couple of weeks, and even at low interest rates.
Overdraft as a type of lending
What does an overdraft bank card mean?This phrase from the English language is translated as "overcount". Every year, this service is gaining popularity every year, not only among businessmen, but also among the ordinary working class. You can independently calculate what limit you can open a bank if the application is approved. The amount of the overdraft will not exceed the average salary of the applicant for three months. If the contributions are regular, the customer can withdraw money from the account until the agreement expires.
What does overdraft card mean for physicalfaces? Any working person salary is transferred to the card. If the bank decided to open a credit line, this implies that the overdraft will be covered by salary. In case of dismissal of the employee, the overdraft will have to be fully repaid within a few days.
