Russian banks have opened “hunting” for children

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Российские банки открыли «охоту» на детей

Russian banks have begun to actively attract children and Teens to cashless payments, offering a special payment card. Writes about this family-owned Demyan Kudryavtsev, the newspaper “Vedomosti”.

In the first half of 2019, half of students on average had received from parents per month for pocket expenses from one to five thousand rubles, about 10 percent of the amount of pocket costs exceeded this level, from the data of Comcon company Ipsos. About 80 percent of children 12 to 15 years, living in Moscow, Moscow region and St. Petersburg, receive, and spend your pocket money in cash, according to a study by Tiburon Research.

As the newspaper notes, banks have begun to actively try to translate this money into cash, offering students a special baby card and a mobile application for contactless payment. In particular, last year was an app “СберKids” from the savings Bank in conjunction with Mastercard, and “Mail Bank. Younger” Visa. These services enable children to carry out contactless payment to shop online or to save money. In the case of Sberbank to withdraw cash from a virtual card or transfer them to anyone is impossible. In the case of “Post Bank” both services are available — transactions are made through ATMs by scanning the QR code.

Ordinary credit cards also remain popular with children and teenagers. For example, such cards offer Alfa-Bank, “Russian standard” “East”. Under Russian law, parents can have a debit card for the child from six years and after 14 years Teens can do to open a personal account or contribution with the consent of adults. Mostly baby cards tied to the accounts of parents, the newspaper said.

In July it became known that in the first half of 2019 banks were 2.5 times more likely to give out loans to 18-year-old borrowers. If from January to may 2018, these loans were issued for five thousand, from January to may 2019, the already 12,5 thousand. Before it became known that banks began more willing to issue credit cards in large amounts from 100 to 200 thousand rubles 18-year-old disabled adolescents. Potential clients of the credit institution found among those who have already used children and teen debit cards.

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