That LOST VALUE? - News about real estate, Kiev, Kyiv region. Real Estate In Ukraine
The tourist season this year has not brought traditional for summer...Cards lose valueThe tourist season this year has not brought traditional for summer a significant increase in card of issue. The pace of increase in June-August were twice lower than last year, and lending with the help of plastic - 50% less summer-2007. And all due to the fact that the financiers inflated rates on credit cards, and some even began to demand when opening limits the provision of costly collateral. The real hit of the summer season have become debit cards: in order to attract scarce resources, the banks offered on current accounts Deposit rates.Deposits instead of credit cardsAccording to the calculations of financiers, this summer the number of payment cards issued by banks in comparison with the same period last year increased by 35-40% (to 62.5 million units), whereas in June-August 2007 the growth rate was 75%. Such decline financiers mainly explain the decrease in the rate of credit cards. They did it consciously, because of acute shortage of resources."Banks have revised the conditions for the issuance of credit cards. Mostly it was related to the rates on credit products and size limits for new customers", - said the head of Department design and development of card products VAB Bank's Elena Soboleva-Tereshchenko.The average cost of card credits in the summer in the 32-35% per annum, against 22-28% in June-August last year. Significantly decreased and average of credit limits of financial institutions: with 3 to 5 thousand UAH. up to 1 thousand UAH. Some banks have gone further and refused to issue unsecured loans, requiring to provide the under card loans overliquidity liens, such as real estate.Reducing the sale of credit cards, financiers tried using the cards to solve important problems involving scarce resources. "This summer, the banks were offered a savings card: a payment card balances on which interest is charged at the level of term Deposit (12-16% per annum in hryvna bills. вЂ“ ed.)", - said the head of Department cash lending Rodovid Bank Sergey Sharapov. Early in the year, such proposals were only one or two financial institutions, but by the summer the number had grown to ten (Delta Bank, Rodovid Bank, OTP Bank, VAB Bank, etc.).Saving on commissionsCitizens responded to the bankers increased use of the "old" plastic. "The average number of transactions on the cards this summer has increased by 20% and their volume by 50%," - said the head of Department of development of products for private clients of Ukrsotsbank Alexander Sotnik. For cash withdrawals at ATM plastic used mainly cardholders economy, in other cases they are more often used for calculations."The structure of transactions by debit cards VISA Electron and Maestro cards looked like this: cash is 76%, trading at 24%. Totally different situation with the more expensive cards - classic VISA and MasterCard products, and plastic Gold class. They have 84% of the operations were conducted in the trading network and only 16% were in cash," - said the head of Department of payment cards of the Bank "Khreschatyk" Sergei Golovan.Summer nationals is not very actively used cards in Ukraine, preferring to spend money abroad. "Payments in shops, hotels, restaurants and other points at 65% of the foreign operations and only 35% of the volume of cash withdrawals at ATMs and cash desks of financial institutions", - said Elena Soboleva-Tereshchenko. The plastic holders gradually learned to calculate their card costs and increasingly opened to foreign travel currency card."In June-August, about 78% of the payment cards were issued in national currency and 19% in dollars and 3% in euros. Otherwise looked this breakdown last summer: on the hryvnia had up to 90% of total emissions, 7% in dollars and 3% in euros," - said the head of Department of payment cards of First investment Bank Sergey Tregubov. "The demand for cards in dollars and euros has risen from-for unwillingness of Ukrainians to spend money on currency conversion calculations when traveling abroad," he added Sergei Golovan.Financiers are little concerned about the slowdown issue during the tourist season. They earned on maintenance increased volume of operations and intend to continue doing so. "We expect a further increase in the number of transactions and turnover", - said Advisor to the Chairman of the Board of Directors for business development at Delta Bank Marek Hovorka."I think the peak of payment cards will be in December, when will be acquired gifts on New year and Christmas. More and more customers prefer to pay for them in cash in the sales and service networks", - added the head of Department of retail business FUIB Valery Patsuy.