LoterBank cash reserve offers financial space and freedom within the limits of the credit. Financial freedom makes it possible to easily absorb unforeseen expenses. Or to spend on personal expenses. The LoterBank cash reserve is only suitable for people who have a current account here. Basically, the possibility is offered to withdraw more money from the current account than the balance allows. There is the advantage that monthly interest is only calculated on the basis of the amount used below the zero line. This means that costs do not have to be paid on the entire amount that can be withdrawn.
Current account available with USD 1,250
A reserve is offered by this bank up to an amount of USD 1,250 in the current account. There is no accountability whatsoever for withdrawing the money. Everyone can decide for themselves what the money is spent on. An option is simply offered to be below zero on the current account. The cash reserve is called Direct reserve and can be used, among other things, to pay invoices by bank transfer. So if there is an invoice that can no longer be Demorei via the regular balance, it is possible to go below zero to an amount of 1,250 US dollars. It is also possible to withdraw money. Furthermore, the opportunity can be used to top up the Hello Prepaid card, for example. The available amount can be used at any time. For example also to spontaneously make a purchase or to cover an unforeseen expense. If the washing machine is broken, a new washing machine can be bought without any problems with the cash reserve.
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The Direct reserve is always linked to the current account. This means that anyone with a current account and using the LoterBank cash reserve can go below zero for USD 1,250. The amount withdrawn from the Direct reserve can be replenished at your own pace. There is a condition for this. This is that once every ninety days the amount below zero must be cleared to above zero. After that, it is simply possible to withdraw an amount below zero on the current account. Anyone who wants to make use of this must submit an application for a Direct reserve. This can be done in two different ways. For example, it is possible to use the application on the smartphone or tablet. In addition, there is an option to make a request for Direct reserve by telephone. This is possible on working days and on Saturdays. Incidentally, the credit facility is offered subject to acceptance of the application. Furthermore, it must always be taken into account that using the LoterBank cash reserve is regarded as a credit opening, for which costs are charged. So interest must be paid on the amount that has been drawn below zero.