WM> bank = Technical overdraft

    Now the market offers a wide range of services for the exchange, purchase and sale of electronic currencies.
    Many withdraw (cash out) WM while choosing the optimal "exchange" model for themselves.

    We all pay attention to phrases such as “ We work for you 24 hours a day. Since electronic money exchanges are fully automated, all requests for exchanges are executed instantly. ”, The main criterion is that it’s convenient for me!

    The other day I ran into the problem of technical overdraft from scratch. From the position of the bank, the essence is simple, and understandable to anyone, but not to the client who carries out the simple procedure of transferring electronic currencies and point A to point B.

    I will try to explain theses steps step by step when a “Technical overdraft” occurs:

    1. Suppose you have 10,000 WMR and a desire to transfer them to a bank account. Using the functionality of the electronic currency exchange service, I selected the WM chain to the card account

    2. I received a notification that the exchanger application has already been processed, I visit the bank's website. Having made a statement in the interface, I see that my account has been replenished by the amount (10000r minus the exchanger commission). The key point is that the money has arrived and the postulate " We work for you 24 hours a day. Since the electronic money exchange is fully automated, all requests for the exchange are executed instantly. " 100% satisfies my needs, and the fact of crediting the amount is good :)

    Article 31. Settlement by a credit institution A
    credit institution, the Bank of Russia are obligated to transfer funds to a client and credit funds to his account no later than the next business day after receipt of the relevant payment document, unless otherwise provided by federal law, contract or payment document


    If it is simpler and more affordable, your money should be credited to your account no later than 1 day from the moment you successfully completed the operation to top up your account / card.

    In this case, I would like to draw attention to the fact that the fact of receipt of money is the indicated amount in the “client’s account” ie in the web interface of the bank system.

    3. We include imagination + needs + borders of the sum, we do whatever we like with money. The card account previously had an amount of XXXX rubles. As a result, for the realization of a dream there is an amount of XXXX rubles + what I transferred from WM. Wow! A fantasy of a larger amount does not leave me a chance to spend it all at once.

    4. on the same day I spend almost all available financial resources as I please, BUT there is one point that I learned about recently. The point is that if you saw that your current account was replenished by you (in my case, I saw that the account was increased by XX money in the bank’s interface) this does not mean that “the transaction is completed”. We recall about "... crediting funds to his account no later than the next business day after receiving the relevant payment document ...".

    The key question is, how will the client know that the funds transfer procedure has been completed successfully?
    The answer is not how. Yes, the bank does not notify that the procedure was completed after 3 hours 15 minutes or after 20 hours 7 minutes.

    In my case, I spent all the funds available on that day BEFORE the crediting operation is completed (in this case, we are talking about completing the operation at the server level that processes incoming applications).

    The situation is absurd, I replenished my account and after I spent my own money, BUT because I did everything right away, then I got money. The bank charged penalties for falling into a technical overdraft.

    Summary of the post: electronic money is transferred faster than laws are written. Your money is essentially “yours” only when it is stored in your wallet. The lack of information about the bank’s business processes at the client does not give reason to be sure that they are right.

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