Updated 01/15/2017.
Since the publication of this article, the conditions for the Binbank Platinum card have deteriorated significantly: the interest on the balance of own funds has disappeared, an issue fee has been added, the service fee has increased, and the Binbonus program has changed quite seriously in the fall of 2016. The current card with the “Binbonus” program and interest on the balance is discussed in the article.
The list of restrictions for which cashback is not provided is quite standard:
MCC codes of transactions for which remuneration is also not due are also listed separately:
The main thing worth noting is that the categories that you can select for increased cashback accrual are very good and voluminous. When activating the card, you need to select one category out of five (it’s free and starts working immediately):
A) Trips.
This includes air tickets, train tickets, bus tickets, car rentals, hotels and inns.
MCC codes: 3000-3299; 3351-3441; 3501-3790; 3791; 3797; 3799; 3803-3806; 3809; 3810; 3817; 4112; 4131; 4511; 7011; 7512.
B) Health, sports and beauty.
This category includes sports clubs, beauty salons, cosmetics stores, hairdressers, spas, pharmacies, hospitals, massage parlors.
MCC codes: 5912; 5977; 7230; 7297; 7298; 7997; 8062; 8099.
IN) Recreation and entertainment.
This includes cafes, canteens and restaurants; bars, discos and clubs; tickets for football, basketball, hockey, etc.; cinemas and theaters; bowling alleys and amusement parks; circuses, attractions, amusement parks; exhibitions and museums.
MCC codes: 5812-5814; 5971; 7832; 7922; 7932; 7933; 7941; 7991; 7994; 7996; 7998.
G) Auto.
Gas stations, car services, car washes, auto parts.
MCC codes: 5511; 5533; 5541; 5542; 5983; 7531; 7534; 7535; 7538; 7542.
D) Online shopping.
All online stores. The classification of a transaction into the “Online purchases” category is based on the payment method.
In my opinion, the “Online shopping” category is the most preferable, since, for example, a plane ticket can also be bought online and receive 5% cashback without even activating the specific “Travel” category.
There are, however, reviews that cashback for air tickets with the “Online shopping” category activated was awarded to some and not to others:
However, in the “Frequently Asked Questions”, “Binbank” quite clearly answers that cashback when the “Online shopping” category is activated for purchasing air tickets on the company’s website is due:
You can change your favorite category. Changing the increased cashback category costs 250 rubles. Please note that the new category will only take effect next month, so you won’t be able to quickly change the category before purchasing:
If you change your favorite category several times within a month, you will be charged 250 rubles only once:
Cashback is paid until the 5th of the next month, the maximum amount is 3,000 rubles. Minimum amount to pay 50 rubles:
There is no income tax on cashback:
Also keep in mind that cashback is awarded for actual account transactions (usually a few days after the purchase), so transactions in the last days of the month are likely to be included in the cashback calculation for the next month.
Do not forget that Binbank reserved the right to exclude any client from participation in the bonus program:
3 On the card balance in the amount of up to 500,000 rubles, 7% per annum is charged if there are purchases worth no less than 500 rubles per month:
The interest is calculated on the actual balance as of the beginning of the operating day.
UPD: 06/20/2016
From 06/09/2016, for new cards, interest on the balance of own funds on the B&N Bank Platinum card is not accrued.
Thus, the Binbank Platinum credit card with a credit limit of 0 rubles becomes not so profitable (if you issue it after 06/09/2016).
It is better to issue an instant debit “Payer Card”, which will accrue 5% on the balance up to 500,000 rubles if there are purchases worth 500 rubles per month. The service is free for the first three months, then 50 rubles monthly if the purchase amount is less than 1,500 rubles per month. bonus program The Payer Card is the same as the B&N Bank Platinum card.
UPD: 11/05/2016
At the moment, the “Payer Card” is no longer issued.
4 “Binbank” allows you to “withdraw” funds from other cards for free. It is important to make sure that the donor bank does not charge fees for such transactions. For example, they do not allow you to “pull” from your cards “MCB”, “MTS”, “UBRR” for free:
The maximum amount for one transaction is 85,000 rubles. A monthly limit is set at 599,000 rubles.
There is a similar service for free replenishment of your cards using cards from third-party banks.
To avoid technical overdraft, before making transactions using your card, make sure that the money has actually been credited to your account (and not just increased the card balance). Penalties accrued on the amount of untimely returned unresolved debt amount to 60% per annum.
5 The B&N Bank card itself can be a free “donor”, i.e. You can “withdraw” your own funds from it to other cards.
6 A large number of ATMs where you can withdraw cash from your card.
In addition to Binbank ATMs, these are also ATMs of Alfa-Bank JSC and MDM-Bank PJSC (per day maximum amount withdrawals are equal to 10. The daily limit is 100,000 rubles, the monthly limit is 300,000 rubles. For the Binbank Profitable card of the Standard category, the monthly withdrawal limit is 500,000 rubles).
7 The card can be topped up different ways. In addition to “pulling” from other cards, you can top up your B&N Bank card for free at the ATMs of B&N Bank, Alfa-Bank, and MDM-Bank.
For non-cash replenishment of the card, Binbank suggests using a common consolidated account:
However, this is not entirely convenient, since you are actually sending money to a legal entity (then the bank manually transfers money to your card account from a general account), and some banks do not allow such transfers (for example, Touch Bank allows interbank transfers only to accounts individuals, with some exceptions). In addition, when replenishing the card using a consolidated account, delays in crediting are possible.
You can open a current account (savings account “Piggy Bank”) in the Internet bank and top it up directly via interbank, and then also make a transfer between your accounts to a card through the Internet bank - it will be faster.
For crediting non-cash funds to the card account in excess of 600,000 rubles, a commission of 3% is charged:
8 Bonuses that provided by Visa payment system .
Instant card Binbank Platinum. Minuses
1 SMS notification is paid - 50 rubles per month. Only the first 2 months are free:
Don’t forget to turn off this service when you receive the card if you don’t need it, and also be sure to double-check with the hotline whether SMS notifications are really turned off after your request.
2 Many clients complain that they have additional insurance added to their card:
3 Re-issuing a card for any reason (loss, damage, theft) costs 350 rubles (instead of a non-name one, they will issue a registered one).
Reissue of the “Income Card” from B&N Bank costs 500 rubles.
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Binbank offers a wide range of bank cards, including credit, salary, pension and others. Each has its own characteristics. In Binbank cards you can choose one of the international payment systems MasterCard and Visa.
Line of bank cards from B&N Bank
- Mastercard Black Edition;
- multicurrency;
- Priority Pass;
- visa application;
- concierge service;
- travel insurance;
- credit limit up to 1 million rubles;
- cash withdrawal without commission around the world in an amount not exceeding 75 thousand rubles. per month.
The cost of service is 15 thousand rubles. in year.
In addition to those listed, you can also get “Junior”, “Ozon.ru”, “Airmiles” cards.
Decor
You can order a card online on the official website of B&N Bank, as well as at any branch of a financial institution. It will take up to 10 minutes to fill out the online application. The bank client will receive a notification about the date when he can pick up the card at the nearest B&N Bank branch.
What information will you need to provide:
- contact information in Russian and English;
- passport details;
- place of work;
- Additional information;
- delivery location (branch where it will be convenient for you to pick up the card).
You should also have with you mobile phone, you will receive an SMS code to confirm the information.
Internet banking
Binbank offers online banking services via the Internet. This way you can:
- find out any information about your accounts, loans and deposits;
- pay utilities, taxes and fines through your personal account;
- transfer funds from your accounts or to the accounts of other users of B&N Bank or other financial institutions;
- convert funds;
- manage time deposits.
The bank guarantees 100% protection of all transactions and safety of funds.
The Russian banking market continues to be in a fever and keep its clients, or rather, bank clients, in fear for their money and business accounts, lest they lose it all. And this time, we'll talk about one thing large bank, which is in the top 15 in the ranking by assets, which is called Binbank (formerly MDM Bank - rebranded). But, as always, first things first.
Binbank problems today 2017-2019
What is the problem with B&N Bank? Yes, we can say, like all other banks that have already experienced problems and will experience them again.
Problems in absolutely any bank arise when there is a liquidity shortage, that is, in simple words, when there is an outflow of funds from accounts in the bank itself.And how this outflow occurs in each specific bank is the next question and requires consideration of specifics. And in B&N Bank the specifics are as follows.
Each bank has a so-called liquidity volume, which, if anything happens, covers short-term obligations that directly relate to the outflow of funds.
As for the volumes themselves, for Lately at B&N Bank they decreased sharply, from 160 billion rubles to 100 billion rubles. And the outflow of financial resources that were kept in bank accounts by other banking structures, as well as state-owned companies, in August 2017 amounted to more than 30% of the total available volume. In addition, during the month of August, individual depositors withdrew more than 18 billion rubles from the bank.
And as a result, the general outflow of funds from Binbank created a problem for the bank with liquidity, or, to be even more precise, a problem with current instant liquidity, gradually forming a financial “hole” in the bank, which, without a doubt, will only continue to increase.
And if this problem not solved, and the decision to close the “hole” means that the bank will be reorganized, then the Central Bank of the Russian Federation will have no choice but to revoke the bank’s license. What, in general, is now being decided at the Central Bank of the Russian Federation, namely, what to do with regard to B&N Bank - which path to choose - recovery or liquidation.
Binbank reorganization 2019 or license revocation? Binbank received a loan from the Central Bank of the Russian Federation before reorganization
It should be noted that following an appeal from the management of B&N Bank to the Central Bank of the Russian Federation for support, a decision was approved to provide assistance in the form of a loan to cover current liquidity. That is, part of the outflow of funds from the bank or its full volume was covered, which, by the way, is not reported either by the management of the bank or by the Central Bank of the Russian Federation - exactly what level of assistance was provided to the bank.
However, it is known that this is not as much as Otkritie FC received earlier. Financial assistance was provided to B&N Bank in mid-September 2017.
In addition, the Central Bank of the Russian Federation emphasized that the management of B&N Bank requested to rehabilitate the bank according to a new scheme through the Banking Sector Consolidation Fund, as was the case with Otkritie Financial Corporation. How events around Binbank will develop will become known a little later.
Binbank news today latest 2018-2019
According to the latest news:
- As for financial indicators, in August 2017 Binbank lost 5% of its total volume in liabilities. Borrowings from the Central Bank of the Russian Federation were reduced to 34 billion rubles, from banks - to 50 billion rubles, and also recorded an outflow of household deposits to a volume of 534 billion rubles (minus 22 billion rubles in August 2017).
- Binbank will not have any further problems with its license, since the Central Bank of the Russian Federation has decided to reorganize the bank
- In Binbank, as well as in its subsidiary bank, Rost Bank, the Central Bank of the Russian Federation introduced a temporary administration from September 21, 2017 in order to begin the process of reorganizing the bank and assessing the bank’s assets
- Since all further processes for the reorganization of Russian banks provide for the transfer of ownership of most of the shares of a particular bank to the Fund for Consolidation of the Banking Sector (FCBS), which belongs to the Central Bank of the Russian Federation, then not only Binbank itself, but also and “Rost Bank” with “Binbank Digital”, which were previously sanitized by “Binbank” itself.
- According to the latest data, the head of Binbank, Evgeniy Davydovich, said that many of the bank’s clients realized that they had already rushed to withdraw their funds from deposits, having lost the interest accumulated on them, thereby hinting that there was no need to do this, especially for those who had deposits did not exceed 1.4 million rubles. And by the way, dThese words of the head of the bank agree with the opinion of our editors, which we voiced below in this material regarding how to properly deal with deposits in problem banks.
- On February 2, 2018, it became known that B&N Bank was awaiting a merger with another bank that was under the reorganization procedure - or with two banks at once - with Otkritie and Promsvyazbank, which was already officially announced by officials from the Central Bank of the Russian Federation, including Head of the Central Bank of the Russian Federation - Elvira Nabiullina. According to their statements, documents are currently being prepared and data is being collected on the merger of B&N Bank with another bank or with several banks at once. The merger could happen as early as spring-summer 2018.
Main news on B&N Bank:
The Central Bank of the Russian Federation, headed by Elvira Nabiullina, officially decided to merge BINBANK with Otkritie Bank, and also, possibly, with Promsvyazbank into a single banking organization. According to the latest data, the merger could take place in the spring-summer of 2018.
Rehabilitation of B&N Bank - what should depositors do?
Are you a B&N Bank depositor and don’t know what to do with your deposits? Then here are solutions and tips for you on what to do with your savings, which are stored in B&N Bank.
If you suddenly need money urgently
Let's go and withdraw the entire deposit, regardless of the amount of deposits
At the same time, do not confuse the urgency and immediate need for money with anything else, and against the backdrop of negative processes occurring in the banking sector, especially, do not panic, since during the bank reorganization all your savings will remain safe and sound, and regardless of the amount.
If your deposits in B&N Bank are your only savings
Provided that you are ready to do without this money in the near future and you need to maintain interest on previously opened deposits, then it makes sense to wait until the expiration date of the deposits and only then withdraw them, in order to spend them, transfer them to another bank, and so on.
In this case, at a minimum, you should withdraw the money completely or “cut” the deposit amount to the level of 1 - 1.2 million rubles, leaving 200 - 400 thousand rubles for interest accrual. At the same time, the rest of the withdrawn amount of funds can be distributed at your own discretion - spent, made deposits in other more reliable banks, or invested elsewhere.
As for interest loss in this situation, you should pay attention to the expiration date of the deposit. If it is still far from expiration, it makes sense to withdraw and distribute the deposit in a new way now, but if it is close, then you can simply wait until the expiration date and after that, manage your savings in the way that is convenient for you.
If the bank is sanitized (saved)
Bank reorganization means for the depositor that he will be able to exercise his right to withdraw and distribute his previously opened deposits in full.
This means that during bank reorganization and if you wish, you can safely wait until the deposits expire so as not to lose accrued interest.
However, if you do not need interest, then you can withdraw your deposits, even all at once, now and dispose of them at your own discretion. But when rehabilitating a bank, it is not recommended to do this - it is better to first wait until the deposits expire.
I travel a lot, so I got an Airmiles Binbank Premium card. The card is convenient, no complaints. In the summer I was in several countries and accumulated 20,000 points/miles for travel in a virtual account that went to this card.
At one point the account with points is blocked, although I didn’t even have time to use it! I call the premium customer support service, they say that they can’t give information over the phone, you need to come to the bank with a passport to unlock it, they can’t say anything else. Coming to the bank is not at all convenient for me. There are no distances nearby, I have a job (I’m the head of a department), a family and a child, I don’t have time to do this. I tried to figure this issue out again, but again they didn’t give me any information over the phone. This is despite the fact that I give the code word, my data.
As a result, I drive past a bank in Peterhof, I have 5 minutes of time, I ask the girl whether it is possible to block the card and accounts only via the Internet, the girl says “yes”. I don’t consider this service Premium, so I decided not to waste time and simply block the card through the application, as the bank manager said. I forget for 2 months, then I go into the application and see that there is a minus on my Debit card. 3800!!! How can you go negative on a debit card?!? When I call, it turns out that blocking the card via the Internet is not enough! You need to go to the bank with your passport and block it there. The issue needs to be resolved, I’m going to the bank, and at the same time find out the reason for blocking the account with points.
I come with these 2 questions to the branch on Leninsky Prospect. Where once I drew up a card. Well, first of all, premium service is only until 18:00, after work I don’t have time and sit in line with everyone else.
I had 2 questions:
1. Why was money charged for service if the manager said that blocking in the application was enough? This issue was resolved immediately: I wrote a statement and the money was returned the next day. Nice moment.
2. Why was my account with miles/points blocked? But the girl manager at the bank could not answer this question for me. She said: write an application for unblocking, the security service will unblock. She couldn’t tell me the reason; I spent a long time looking for it on the computer and calling someone. I decided not to dig, since they will unlock it, maybe by mistake, who knows. I decided to use the main Airmiles card for now.
A week passes. The money withdrawn for card servicing (see point 1) was returned to me. But the card with points was never unlocked! I call again, the girl answers me: but they won’t unblock it for you! You have violated the terms of use! I ask: what rule exactly?!? What I did wrong? I didn’t even have time to spend these points! What exactly did I violate? To which the girl again says that such information is not given over the phone and I must go to the bank with a passport!!! They send me to the bank again.
Today I again came to the bank branch in Peterhof. There's a queue again. I am contacting the manager to clarify the reasons for blocking the card with accumulated points. The girl tells me that she cannot answer this question! And he says that in order to get an answer about the reasons for the blocking, I must bring the following documents to the security service... and hands me an A4 sheet. Not letterhead, no signatures, dates, references to bank documents and regulations or laws... just a sheet of printed text. It says: we have a program to know each client by sight... and something else introductory. You need to provide the bank with the following documents: and here is a list of documents relating to my income. Namely: 2NDFL certificate, my sources of income, a list of my property and other data! Attention! I must provide all this in order to find out why my card with points was blocked! What about the law on the protection of personal data?!? I don't take out a loan! As a result, I wrote an application to close the main card. I don’t have the strength to figure it all out and waste my time anymore.
It's a pity. Smart people came up with convenient map, but obvious unprofessionals spoil the impression of the bank. No premium service. On the phone, the girl completely hung up during the conversation. No “presumption of innocence”! The points are blocked, but the ends cannot be found.
