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Bank card - a standard size plastic card on which information is stored in electronic form about the bank account of the card holder. The data of this card allows its holder to directly manage their non-cash money in a bank account: instantly pay for purchases, receive cash using an ATM, transfer money, open deposits, receive statements of account balance. The main advantages of a credit card are the lack of the need to carry large amounts of money with you and worry about the safety of your wallet, as well as the need to buy foreign currency at an overvalued rate on trips abroad. if you still need cash, it’s easy for the owner to get the required amount of money at the nearest ATM. Each bank card has a number of mandatory elements that distinguish it from other cards: bank card issuer, its number, security hologram, card holder’s name and surname, card expiration date, card holder’s signature sample, security code. The most important information that allows you to access your bank account is recorded on a magnetic strip or chip.
Bank card issuers that issue them into circulation cannot independently conduct payment transactions as quickly as the interests of customers require. Imagine for yourself: in order to quickly conduct operations with a bank card, an ordinary bank would have to maintain payment relations with several hundred Russian and even more foreign banks. Think about whether the situation is real when you have 1000 friends with whom you constantly communicate, go to the cinema, for birthdays, etc.? The probability is very small. It is a little easier for commercial banks to maintain relations with a large number of credit organizations, but this requires too much time and money. This is especially difficult for small banks. In this regard, all commercial banks that issue payment cards belong to one of the payment systems and use its services to transfer money from a client of one bank to a client of another bank. To date, 2 electronic payment systems, MasterCard and Visa, are universally recognized internationally. Depending on the cost of service and the status of the card holder, several levels are distinguished. The cheapest Visa Electron (first-level card) is the cheapest to service and affordable for most Visa customers. A second-level card that optimally combines the cost and range of services is Visa Classic. Premium Visa payment system cards include Visa Gold, Platinum cards.
The cards of this last group provide their holders with exclusive attention, comfort and the highest quality of service. A similar division by card levels exists in the MasterCard payment system. The first level cards include Maestro, the second level cards - MasterCard Classic, the third level cards - Gold, Platinum and World. Since December 2015, our country has been actively introducing cards of the Russian payment system Mir, which will provide its customers with the same services as the 2 international payment systems mentioned above.
The payment system involves the issuance of 3 types of cards:
1) “Classic”, with the possibility of making payments at the expense of the client or at the expense of a bank loan at any retail outlets equipped with appropriate terminals, as well as on the Internet;
2) “Premium”, which allows the holder, in addition to the capabilities of the “Classic” card, to receive a wide range of bonuses and services from the payment system and the issuing bank;
3) “Debit”, which allows you to make payments exclusively within the positive balance of the account.
When choosing a card that you plan to use, the following main financial costs should be considered:
1) the cost of issuing a card;
2) a fee for annual card maintenance;
3) commission for withdrawing money from an ATM.
If the employer opened a card for you with the purpose of transferring your salary to it, such a card will be considered a salary and you will be exempt from paying for its services. In accordance with Russian
law, credit organizations have the right to issue bank cards of the following types:
1) settlement (debit);
2) credit;
3) prepaid. if you have a debit card at your disposal, you can carry out any settlement transactions within the cash balance on it or within the limits of a short-term loan (overdraft).
A credit card involves spending transactions using borrowed funds of the issuing bank within the established limit in accordance with the terms of the loan agreement. A prepaid card is intended for transactions on the payment of goods or services, as well as the issuance of cash and certifies the right of its holder to the issuing bank to make these payments.
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