Column by Maxim Builov about acquiring, deposit insurance and consumer benefits

Last Wednesday in the State Duma turned out to be unusually fruitful for refusals. Once again, two eternal topics were raised and rejected by deputies – increasing the amount of insurance coverage for deposits and limiting the acquiring commission for trading enterprises.

This time, increase the guaranteed deposit amount from 1.4 million rubles. up to 3 million rubles proposed by the Legislative Assembly of the Leningrad Region. There were more daring options – with 5 million or even 10 million rubles. There were more inventive ones who proposed introducing irrevocable deposits and insuring them separately from the rest on special conditions. And raise it to 3 million rubles. for everyone, because the last time the guaranteed deposit amount was increased was ten years ago and during that time inflation ate up more than half, it was even a little banal.

Accordingly, the Central Bank, together with the DIA and deputies, effortlessly repel such requests. According to the Bank of Russia, today, like ten years ago, for deposits in the amount of up to 1.4 million rubles. accounts for more than 90% of deposits, more precisely – 98%. And this is checkmate, since the main task of the deposit insurance system is not to ensure that all rich people invest their millions without the slightest risk, but to ensure that angry crowds of depositors do not “take out the banks” at the first sign of danger (real or imaginary) , accelerating the crisis. It is difficult for two percent of investors, no matter how rich they are, to create a quality panic.

The story is similar with state regulation of acquiring commissions. Retailers picked up the issue in 2018 and have been pushing it tirelessly ever since. The Central Bank, the Ministry of Finance and other responsible bodies have repeatedly proven with figures and examples from foreign, albeit now unfriendly, practice that this will not bring the slightest benefit to the buyer. Where the trade rebate that stores pay to banks for accepting card payments has been legally restricted, citizens pay for every bank employee’s sneeze, if it is associated with his card, and, of course, no cashbacks.

Retailers, sometimes fighting for tenths of a percent reduction in acquiring commissions, have never made discounts to citizens during several experiments to limit this trade concession to the bank. But for marketing purposes we are ready to give discounts of tens of percent.

These bills have one undoubted value – they provide an opportunity for some deputies to show that they care about a group of their voters, and for others to stand up for the defense of the entire financial system of the country. As Yuri Detochkin said to a police inspector on a motorcycle with an old battery: “Together we are doing a common cause: you in your own way, and I in my own way.”