The Deposit trick. How to avoid fraud with a Bank Deposit?
What tricks are banks (and not only them) to get the savings, and how to avoid fraud on the part of financial institutions, says Aephi.
Bank deposits remain the most popular way of saving. According to Rosstat, countrymen stored more than 26 trillion rubles in banks. On the one hand, Deposit is a safe and simple financial instrument. On the other, the scammers (and banks themselves) are often disingenuous, trying to lure customers. How not to fall for their tricks, says Aephi.
The contribution of the uninsured.
According to the Central Bank, the total amount of uninsured deposits in domestic banks exceed 8 trillion rubles this was stated by the Chairman of the Central Bank Vasily Pozdyshev.
When a financial institution, deposits in which are not insured, loses their license, its investors are left with nothing. So the easiest way to get money is to take it to the Bank, not party to the Deposit insurance system.
Don’t be fooled by the attractive rates and assurances in the spirit “are under the supervision of the Central Bank” and “insured savings”, which the financial institution promises in advertising. It can be ordinary machinations of speculators.
Before to entrust their savings to the financial institution, make sure that it is the participant of system of insurance of deposits (this can be done on the official website of the Agency on insurance of contributions).
The high rate, but with conditions
However, participation in the Deposit insurance system does not guarantee that you an honest Bank. Sometimes, to attract customers of a financial institution are on a marketing ploy, promising in advertising favorable conditions on deposits. The small print in this is usually written that a favorable rate can be obtained only under certain conditions. For example, a higher percentage unable to payroll customers of the Bank. Or when buying a premium card with an expensive annual service. Or in the case if the Deposit, you will make a tidy sum. The calculation here is that the client will notice highlighted is the high percentage, but the fine print is likely to ignore will come to the Bank with the money, and it turns out that a high percentage doesn’t Shine. Since time has already been spent, and to go back and forth with a large sum of money is not very safe, the customer agrees to the usual terms and conditions (which can be worse than banks which are not engaged in aggressive marketing).
There are other options with “high” rates: the customer will receive it, but only for a month. When this period ends, his savings will accrue in the best case, the usual percent, at worst very modest. Before you invest money in a Bank that promises an attractive rate of Deposit, call the hotline financial institutions, please specify under what conditions it is possible to open a Deposit. The same question can go to Bank office.
In addition, carefully read the contract and ask the Bank employees to explain the provisions that confuse you.
Trust management
Speaking of the contract. Carefully read its necessary because some banks under the Deposit slips to the clients so-called asset management Finance. Theoretically, this tool can provide a higher return than on Deposit, but the money is not insured.
Trust management involves the transfer of money an investment company, which can be a division of the Bank and all third parties with which the Bank just collaborating. Simply put, the funds entrusted by the client, the financial institution will give to another management company. And the status they will have not the funds placed on Deposit.