Need money for your purchases? We’ve got you covered
MoraBanking | 01.07.2019 | MoraBanc editorial staff
December is always packed with parties, lights, trips and gifts. But all that fun means extra expenses, and however well you plan your budget you can sometimes end up surprisingly low on funds at the end of the month.
To make sure that you never run out of money and can take full advantage of the season’s special offers and promotions, you can now finance your credit card purchases directly from your MoraBanc app from the comfort of home with a simple click!
What is it?
The purchases you make with your credit cards are not immediately charged to your account, but taken out of a credit limit that was established when you applied for the card. This means that the amount of your purchases will be charged at the end of the month, when the billing cycle ends and the amount is deducted from the associated bank account. For a refresher on the different types of cards, please re-read our post about the differences between a credit card and a debit card.
To give you more flexibility when it comes to managing your finances, you can now pay for credit card purchases over €150 in installments over 3 or 6 months, and 10 or 12 for those over 500€*. No need to go to your local branch, or talk to your manager: with MoraBanc Digital, you can now finance your purchases anytime, anywhere, and from any device.
How does it work?
From now on you will see a INSTALLMENTS label next to purchases of €150 or more that you make with your MoraBanc credit cards; you can see these purchases (on both the app and online bank) on the transaction list and the current statement. This label will appear the day the purchase is credited and will be removed the day before the end of the billing cycle.
If you want to pay for the purchase in monthly installments (3 or 6), all you have to do is click on the message and complete the transaction details: we’ll show you the interest rate applied, the amount of the monthly fee and all other terms and conditions. If you agree, confirm payment in installments with your MoraBanc Digital signature. It’s that easy! Quick, no lines, no visits to the bank, no phone calls… just your mobile device, whenever and wherever you want.
And if you change your mind before the billing cycle ends and prefer not to pay for a particular purchase in installments, simply select it from the list of financed purchases to cancel. The total amount of the purchase will reappear in your credit card transactions for that month and will be charged in full at the end of the billing cycle.
What if I want to know how much I owe?
When you decide to finance a purchase it will appear with the INSTALLMENTS tag on all card transaction statements and lists. A direct access button will open all the details on a particular financed transaction.
You can also see how much you owe from the Consultations option on your credit card page. Consult your payments in installments to see all related information: pending payments, total amount, and installment amounts. And we also offer you the option to cancel any of your financed purchases in advance.
Remember that you can always check all the details of your cards from the MoraBanc Online wallet: select the (i) icon that you see over the image of the card for information on how much credit you have spent on that particular card, including purchases made in the current month, financed purchases, and installments or pending charges.
Which now means that you’ll never have to miss out on special offers or promotions again due to a lack of funds. Your MoraBanc cards provide greater flexibility when it comes to planning your payments, complete with all the security measures you already receive: SMS notifications, secure online purchases with the OTP code, the option to block your card from the app in case of theft or loss… and it’s contactless!
All of our transactions can now be easily and quickly managed from your mobile device, anytime and anywhere. Download the app for free and discover all the advantages of being a MoraBanc customer.
*Updated: October 2020.
Information on the processing of personal data
In compliance with Law 15/2003 of 18 December on protection of personal data, the customer authorizes that the applicant’s personal data entered on this form will be incorporated into files owned and managed by MORA BANC GRUP, SA – MORA BANC, SAU (hereafter referred to as “MoraBanc”) to process the requested service and, if necessary, to comply with the contracts finally entered into, and also to ensure correct operational procedures.
The applicant expressly authorises MoraBanc to send him/her commercial and promotional communications for products and services and information on the Bank itself, social or other activities, in hardcopy by post or by electronic means (among others, short messages (SMS) to mobile phones, e-mail, etc.). This consent can always be withdrawn, without retroactive effect.
The fact of filling out this form implies that the applicant acknowledges that the information and personal data provided are true, accurate and correct; otherwise, MoraBanc declines all responsibility for the lack of truthfulness or correctness of the data.
The applicant authorises the data provided to be communicated or shared with third parties forming part of the MoraBanc business group, entities which are primarily active in the financial, insurance and service sectors. The applicant is considered as having been informed of this transfer of information by means of this clause. The applicant accepts that he/she may be sent information on any product or service marketed by these companies.
The data processing manager is MoraBanc. The applicant is hereby informed that the rights of access, rectification, suppression or opposition may be exercised in the terms established in current legislation.