Russians began to actively take cards with an overdraft, experts said

Bank card of the international payment systems VISA and MasterCard. Archive photo

Russian banks in July increased the number of issued cards with overdraft in the quarter compared to August, this was due to shifting of payroll projects former foreign companies, told RIA Novosti in the “Scoring Bureau” (formerly the BCI “Equifax”).

According to the company, the number of issued “plastic” with overdraft in July rose by 26.3% to the highest since March 2020 30 thousand cards. The amount of loans dramatically increased 14% to 1.43 billion rubles. At the same time, the average check for this type of lending decreased by 9.8%, or 5.2 thousand rubles – to the lowest since July last year, is 47.7 thousand.

As a result, the amount of debt on the cards with overdraft increased by only 1.4% to 14.8 billion rubles. The number of such cards in the hands of the Russians have increased by 2.7% to 607,4 thousands of units.”The overdraft is quite a specific product which is used by a number of market players in the attraction of businesses for payroll support. Currently, there is some increase in the number of cleared overdrafts associated with the flow of salary projects companies that previously had foreign owners, from one Bank to the other”, – said the General Director of the company Oleg Lagutkin.

He noted that a similar process is short and it is hardly possible to expect significant growth in its overdraft facilities in the future. “It ends with the end of the reallocation of salary projects between banks,” – said the expert.

Banks offer overdraft to the card, the user can use it as your funds can withdraw completely or partially from an ATM, and can pay in stores, due to which formed the debt. Following admission to the card used for paying off the debt. With the proliferation of credit cards, this type of loan has become less popular.