If you just put the card aside and forget about it, you can feel great regret.
Why is it not enough to stop using the card?
The funds that you access with the card are in your account. Even if it is empty, and the card has expired, it continues to exist. And for its maintenance, the bank can take money, and in a completely legal way. The terms are usually written in the contract. Service charges may arise if:
- You keep less than a certain amount in your account (and you have withdrawn everything).
- You spend less than a certain amount per month (and you stopped using the card).
- The grace period has ended.
I quit, but did not have time to close the account to which the salary came, I just took all the money from it. But in the meantime, the year of use, which the employer paid for, ended, and the account maintenance fee was already removed from me. And it turned out that I had some sort of luxury tariff for more than three thousand rubles. A lot of money in general.
Pavel, lost money due to slowness
The bank will charge the service fee, and you will be in debt. It will most likely have to be paid with interest. Moreover, for a debit card, the interest can be even higher than for a credit card. If the debt is revealed in a few years, the amount will be impressive. Fees for SMS-informing, deferred commissions for any services, and so on can contribute to the increase in debt.
Read also: How to Choose a Debit Card.
To prevent this from happening, you need to say goodbye to the bank more decisively.
How to properly end a relationship with a bank
Proceed according to the following algorithm:
Also read: How to Gain Financial Independence as a Woman.
- Disable all paid services. It will take time to negotiate with the bank, and you will stop spending too much now.
- If there are debts on the account, pay them off.
- Apply to the bank to close the account. Much will depend on the institution itself. Somewhere you can notify your decision online. And some banks will require you to come to the branch, and exactly to the one where you opened the account. It is better to clarify this question in advance. If you go to the office, and your card has not expired yet, at the same time, hand it over to the bank so that there are no questions for you. Formally, this is the property of a financial institution written right on the plastic rectangle.
- Wait for the period during which the bank must close the account under the agreement. The organization needs this time to check whether deferred commissions will come, for example, for using an ATM of another bank. If debts appear, they will also have to be paid.
- When the account is closed, take a bank certificate, which will indicate that the institution has no financial claims against you. The paper will come in handy if, due to mistakes, debts suddenly begin to arise after the account is closed.
What to do if several cards are linked to the account.
You do not need to close your account. But the card that you are no longer going to use is still better to block. This will eliminate the risk that fraudsters will use her data and gain access to your account.
Adapted and translated by Wiki Avenue Staff
Sources: Life hacker