Bank cards are increasingly becoming a part of the everyday life of Russians and are gradually replacing cash. Meanwhile, they have both advantages and disadvantages.
Advantages of bank plastic cards
Today the market offers several types of bank cards designed for different groups of the population. Among them - debit, salary, student. Credit cards and cards with available overdraft can be singled out as a separate group.
In the near future, plastic cards can almost completely displace cash from everyday life, which is facilitated by their inherent advantages.
The main advantage of bank cards is ease of use. Cardholders do not need to carry large amounts of cash with them at all times. They can buy goods online, make transfers to other accounts. You can also pay with a card anywhere in the world without having any currency with you. The money will be converted automatically at the bank's rate. At the same time, when traveling abroad, the user does not need to convert the currency.
One of the reasons for the emergence of bank cards is the desire to ensure the safety of users' funds. In case of loss of the card, it can be blocked within 1 minute. If the card is stolen, it can always be restored, unlike cash. In any case, attackers will not be able to use the card without knowing the PIN.
Bank cards are also versatile. They can be used both to receive cash from ATMs and to pay for goods by bank transfer.
Credit cards have their own advantages, which allow you to purchase goods without having the entire required amount. And then repay the debt to the bank in parts.
In some cases, cardholders have the opportunity to increase their own funds. Some banks charge interest on the account balance (at a rate from 0.5 to 10%).
A good feature of bank cards is the ability to set a limit for day transactions. This protects users from unplanned expenses and prevents overspending.
The bank itself can set a limit on cash withdrawals from the card. As a rule, this limit is 200-300 thousand rubles. in a day.
In some banks, you can pick up an individual card with the most useful bonuses for the user. Holders of cards with additional benefits can, for example, receive discounts on purchases or have a cash back function available. The latter implies the return of a certain part of the payment back to the card. Popular among Russians are cards that allow you to accumulate "miles" for flights for the purchase of goods and services.
Disadvantages of bank cards
However, the use of bank cards has drawbacks. So, not all retail outlets today have the opportunity to pay by card, especially in developing countries. Therefore, cash is still needed.
Users need to consider the fees charged by banks for the issuance and annual maintenance of cards. It is commissions that lead to a situation of technical overspending on the card, when the user has a negative balance on the account.
Debit cards are not subject to the deposit insurance system, so it is better to keep large amounts in deposits.
Typically, banks charge fees for cash withdrawals from third-party ATMs. At the same time, the ATMs of the servicing bank can be removed from users, which creates difficulties with receiving cash.
Among the shortcomings, it is also worth noting the need to control the balance of funds on the card so as not to get into an unpleasant situation when there is not enough money for a purchase.
