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Credit card with predetermined repayment

Credit card with predetermined repayment

Better means for daily settlements

  • Up to 45 days of interest-free credit
  • Possibility to transfer credit limit
  • Possibility to use your own funds
  • You can choose the day of repayment (5th – 15th date)
  • With MasterCard contactless credit card, it is possible to make smaller purchases without inserting your card in the POS-terminal and entering the PIN.

Suitable for the payment of daily purchases, helpful while travelling and providing assurance that you always have extra cash, when needed. You will repay the spent amount on the chosen day of the next month.

  • Interest-free until the chosen payment day of the next month, when you have to pay for the transactions of the previous month
  • No issue fee (except for Platinum and Picture card)
  • Monthly maintenance fee depends on the type of card
  • With MasterCard contactless credit card, it is possible to make smaller purchases without inserting your card in the POS-terminal and entering the PIN.
  • No monthly fee for the users of Super+, 60+, Senior and Family Plan
  • You may buy also travel insurance with the card Read about travel insurance
  • To enable online purchases the card has been integrated with the “3D Secure” programme.
    Read more

Credit limit

  • Minimum credit limit of the card is EUR 300
  • The maximum credit limit of the card is your one month net income When calculating the maximum limit, we consider also your other loans and lease obligations
  • User limit is valid for one month, i.e. a new limit is calculated to the card on the first day of each calendar month.

User limit

  • Minimum user limit of the card is EUR 0
  • Maximum user limit of the card depends on the type of card and may be up to EUR 32,000
  • The user limit determines the amount, within which it is possible to use the credit limit of the specific card in a calendar month. It is reasonable to assign a different user limit from a credit limit, if several persons are to use one credit limit.
  • In case the user limit of the card is changed, the limit takes effect immediately.

Repayment

  • The payment date is set on the chosen day of each month, on which the funds used in the previous month with the card have to be repaid in full extent. If there are no required funds on the payment day, we shall start calculating late penalty.
  • The credit is interest-free for up to 45 days: no interest is calculated on the credit, used in the calendar month, until the repayment day of the following month.

Other conditions

  • The card has no issue fee (except for Platinum and Picture card), however a monthly maintenance fee is applied to the card. Read about the fees from price list.
  • It is not possible to make additional deposits to the card.
  • A fee is applied to cash withdrawal from ATM.
  • All service fees of the card are calculated within the user limit (e.g. cash withdrawal, monthly fee, changing the limit, etc.).
  • MasterCard contactless credit card enables:
    • To make contactless payments in amount up to 10 euros by placing the card near the contactless symbol on the POS-terminal and keeping it until the terminal makes a click.
    • Safe payments: sometimes you need to confirm the payment with a PIN to ensure safety.
  • To activate the MasterCard contactless credit card function you need to confirm the first payment in the POS-terminal with a PIN or insert the card to the ATM and confirm with a PIN.
  • Upon expiry of the three-year term of the card, we shall automatically prepare you a new card and inform you in a letter of the branch where the card is sent. You may also order the card home by post, in which case the card must be activated in Internet Bank after receiving it.

Read more about the credit card conditions

Annual percentage rate as a typical example

The annual percentage rate of charge of a charge card is 2.46% under the following sample conditions:

  • the credit limit EUR 1000 is immediately taken fully into use on monthly basis and is repaid in each following month in a lump sum;
  • monthly maintenance fee EUR 1.60;
  • monthly fee of current account EUR 0.30.

The total amount of repayments payable by the client is EUR 1000.00 and total amount is EUR 1022.80.


The annual percentage rate of charge of a charge card as a Picture Card is 3.02% under the following sample conditions:

  • the credit limit EUR 1000 is immediately taken fully into use on monthly basis and is repaid in each following month in a lump sum;
  • card issue fee EUR 5;
  • monthly maintenance fee EUR 1.60;
  • monthly fee of current account EUR 0.30.

The total amount of repayments payable by the client is EUR 1000.00 and total amount is EUR 1027.80.

Requirements to applicants

  • You can apply for the card if you are at least 18 years of age
  • Your monthly income, from which the taxes and other monthly repayment obligations (e.g. loans and leases) have been deducted, is at least EUR 640
  • If your salary has not been received in SEB for the last 6 months, you need to present an account statement for the last 6 months of the bank, where the salary was received so far. In addition, please submit a confirmation of your employer, that from now on your salary will be transferred to SEB.

Application

To order a charge card and a contactless card, fill in the application in Internet Bank or at your nearest SEB branch.

We shall send the answer to your application in a few days. In case of a positive answer, we shall inform you of the day, when you can pick up your card.

Private individual  
1. VISA Classic credit card, MC Standard credit card, MC contactless credit card, and MercedesCard (1)  
issue (with the cover of Emergency service; incl. prolongation) free of charge
monthly fee EUR 1.60
replacement card, additional card EUR 5
2. MC Gold credit card and VISA Gold credit card (2)  
issue (with the cover of Emergency service; incl. prolongation) free of charge
monthly fee EUR 3.50
replacement card, additional card EUR 5
3. MasterCard Platinum (with Priority Pass service and travel insurance Gold)  
issue (with the cover of Emergency service, incl. prolongation) EUR 20
monthly fee EUR 10
replacement card EUR 10
additional card EUR 20
4. Credit card with fixed payment (MC Standard)  
issue (incl. prolongation) free of charge
monthly fee free of charge
replacement card, additional card free of charge
5. MasterCard World Elite (with Priority Pass service and travel insurance World Elite)  
issue (with the cover of Emergency service, incl. prolongation) EUR 35
monthly fee EUR 35
replacement card EUR 15
additional card EUR 35
6. Pildikaart credit card  
issue (with the cover of Emergency service; incl. prolongation) EUR 5
monthly fee EUR 1.60
replacement card, additional card (issue) EUR 5
7. Pildikaart with fixed payment  
issue (with the cover of Emergency service; incl. prolongation) EUR 3.20
monthly fee free of charge
replacement card, additional card (issue) EUR 3.20
8. Card finder's reward/refund for card confiscation and/or Emergency Service user charge in case there is no Emergency Service insurance actual expenses, up to EUR 130
Legal entity  
1. MC Business credit card, VISA Business credit card (3) and MC Standard credit card (3)  
issue (with the cover of Emergency service; incl. prolongation) EUR 2
monthly fee EUR 2
additional card EUR 2
replacement card EUR 5
2. Pildikaart credit card  
issue (with the cover of Emergency service; incl. prolongation) EUR 5
monthly fee EUR 2
replacement card, additional card EUR 5
3. MC Gold credit card and VISA Gold credit card (2)  
issue (with the cover of Emergency service; incl. prolongation) EUR 5
monthly fee EUR 7
replacement card, additional card (issue) EUR 5
4. MasterCard Platinum (with Priority Pass service and travel insurance Gold)  
issue (with the cover of Emergency service, incl. prolongation) EUR 20
monthly fee EUR 12
replacement card EUR 10
additional card EUR 20

(1) Starting from 19.03.2014 is not possible to order MercedesCard credit cards.
(2) Starting from 10.03.2014 is not possible to order VISA Gold credit cards.
(3) Starting from 10.03.2014 is not possible to order VISA Business and MC Standard credit cards for legal persons.

General transaction and service fees  
1. Approval of loan limit free of charge
2. Annual interest of used loan 18%
3. Credit card with fixed payment (MC Standard, Pildikaart)  
interest on used credit 18% per year
4. Approval/extension of credit limit free of charge
5. Security deposit interest rate one-month term deposit
6. Agreement amendment  
loan limit change free of charge
credit limit change EUR 10
permanent change of monthly limit  
           over the counter, phone banking operator service EUR 3.20
           internet-bank free of charge
7. Temporary card´s limit increase 1,5% of additional limit, min. EUR 8
8. Regular statement  

by e-mail

free of charge

by post in Estonia

EUR 0.4 per page, min EUR 4

by post outside Estonia

EUR 0.4 per page, min EUR 10
9. Single statement over the counter  
for up to last 10 years EUR 4
10. Balance inquiry (balance; last transactions)  
from SEB Estonia ATM's free of charge
from other bank's ATM EUR 0.40 / per inquiry
11. Clearing settlement (fee for transaction in foreign currency will be added)  
MC Standard/Business/Gold/Platinum/World Elite; Credit card with standing payment; VISA Classic/Business/Gold free of charge
12. Cash deposit in SEB Estonia ATM’s  
up to EUR 5000 in a calendar month per client (holder of account(s)) with credit and/or debit card free of charge
if the amount exceeds EUR 5000 in a calendar month per client (holder of account(s)) with credit and/or debit card 0.3% of the deposited amount
13. Cash withdrawal from cash machine or bank office (incl. abroad) Fee for transaction in foreign currency will be added  
MC Standard/Business/Gold/Platinum/World Elite; Credit card with standing payment; VISA Classic/Business/Gold EUR 2 + 2,5% of the withdrawn amount
14. Transfer of credit limit to current account EUR 2 + 2% of the transaction amount
15. Fee for transaction in foreign currency (1)  
transaction original currency is other (excl. EUR) 1,5% of the transaction amount
16. Blocking of card by bank free of charge
17. Debt claim letter of credit card EUR 5
18. Debt claim letter of fixed payment credit card EUR 5
19. Contractual penalty for use of blocked card, breach of limit or amounts not paid in time EUR 65
20. Duplicate of POS receipt  
domestic transaction EUR 4
cross-border transaction EUR 8
21. Unjustified demand for refund  
domestic transaction EUR 12
cross-border transaction EUR 16
22. Preparation of express bank cards EUR 40
23. Sending a card by  
registered mail (Estonia and foreign countries) EUR 2,50
mail (Estonia and foreign countries) free of charge
24. Using Priority Pass service EUR 27 per using
25. Travel insurance Gold (for VISA Gold credit card and MC Gold credit card holders) EUR 69
26. Travel insurance Child EUR 25

(1) All claims for Card Operations executed in a foreign currency are received by the Bank from international card organisations (Visa, MasterCard), converted into euros according to their determined exchange rates.

Checklist for the applicant of international credit card and credit card with fixed payment

Taking a credit card is an important decision, involving risks. We would like to help you in preparing an informed decision.

When applying for a credit card, you should do a proper homework:

  • consider for what and how much credit you need and what would be your sources for repayment;
  • submit us true and adequate information for making the credit decision;
  • make it very clear for yourself which costs are involved in taking the credit card;
  • consider with the possibility that your financial situation may deteriorate and you must be able to repay the credit also when it happens;
  • examine carefully all credit documents (agreement, information sheet, etc.), before signing;
  • there are no unsolvable problems and situations, but there are different options – we are your partner, who you should contact well in advance even if you encounter problems with repaying the credit.

You may ask information about the terms and conditions of our credit card and get explanations both, before concluding the agreement as well as during its term. In case of questions, contact us on the general information lines of SEB Pank.
 

When examining the terms and conditions of credit card and the agreement, please pay attention to the following:


1. Standard European Consumer Credit Information

Before conclusion of a credit card agreement, we deliver to you for your information a personal Standard European Consumer Credit Information sheet, on which we give brief information on the more important conditions of the agreement. Please examine carefully the information presented on the information sheet.

2. Drawdown of credit

You can use the credit as of receiving your card. To use an instalment credit card, a separate card account is opened for you. Your card must be active to use the credit.

3. Right to withdraw from the credit card agreement

After signing the agreement, you may still withdraw from it within 14 days on conditions set out in the agreement.

4. Interest and changes in interest

Interest is a fee, which is paid for using the credit.

The interest rate of an international credit card (charge card) is 0%.

For an international charge card and instalment credit card with loan limit the interest depends on the price applicable to the client. The interest according to price list is 18% per year. The actual interest rate depends on the applicable benefits (such as lower interest rate applied to some SEB Plans). The bank does not inform the client separately on the establishment and expiry of a special interest rates.

5. Payments

If your international credit card (charge card) has no loan limit, you will repay each month on the payment date specified in the agreement the amounts of transactions received by the bank in the last month and the commission fees.

If your international charge card has a loan limit, you will pay each month on the payment date

  • interest calculated on the part of loan limit used in the previous month;
  • total amount of transactions received by the bank in the last month and commission fees on the part, exceeding the loan limit;
  • used part of the loan limit at least within the minimum monthly repayment amount fixed in the agreement. If the funds in your account exceed the minimum repayment on the payment date, the bank may debit the monthly loan limit repayment within the extent, which amounts to the maximum repayment fixed in the agreement.

For an instalment credit card, you will pay each month on the payment date specified in the agreement:

  • interest, calculated on the credit limit used in the previous month;
  • the credit amount exceeding the mandatory repayment limit within the mandatory repayment amount, if, on the 1st day of the given month, the used amount of credit exceeds the mandatory repayment limit.

If funds have been transferred to the card account from the 1st day of the given month until the payment day, you will have to pay an amount of mandatory repayment which is less by the receivables for the respective period. The bank shall not make a transfer from your account, if the mandatory repayment to be debited is less than 10 euros on the payment date.

Upon termination of the agreement or in any other case as stipulated in the agreement (e.g. if your card has been blocked for at least 2 months), you will be obliged to repay the entire used credit amount. For an international charge card with a loan limit and an instalment credit card, and if all the cards related to the agreement have been closed and you do not have any other arrears towards the bank, you may repay the used credit amount during the agreed period (within a maximum of two years). Whereas you undertake to pay the bank an annual 20% of interest on each payment date of the outstanding amount of credit.

6. Early repayment

The used credit amount of an international charge card cannot be repaid before term. Payments are made automatically only on the payment date.

You can repay the used part of the loan limit of an international charge card or the used credit amount of an instalment credit card before the term at the time suitable for you, by making a payment in internet bank or at a bank office.

7. Amendment of the terms and conditions of the credit card agreement

The bank has the right to change the terms and conditions of an international credit card and instalment credit card unilaterally, by giving an advance notice of two months.

The account holder may cancel the agreement by notifying the bank thereof at least one month in advance. After having received a cancellation application of the agreement, the bank shall close all cards tied to the agreement.

8. Consequences and costs of violating the credit card agreement

The bank has the right to block the use of a credit card to full extent or in part for specific transactions, inter alia, if

  • You do not fulfil your contractual obligation (such as the repayment obligation) and remain in arrears to the bank;
  • The bank becomes aware of a fact, pursuant to which it may reasonably conclude that
    - your solvency has deteriorated;
    - due performance of the agreement is questionable, or
    - the card is or may be used against your will;
  • You have not used the card for at least six (6) consecutive months;
  • There are other grounds for blocking, which arise from the agreement or the general terms and conditions.

The Bank shall release the block on the use of the card within 10 calendar days as of receiving the application of the account holder, if the circumstances forming the basis of blocking have lapsed. The credit card agreement ends when all cards issued based on the agreement have been blocked for at least two consecutive months.

If you do not make the contractual payments in due time, we may demand penalty for late payment within the rate as set out in the agreement.

Should you remain in arrears, we will first send you a reminder. If the debt is still not settled, we shall send you a debt notice, for which you will be charged. If the payments are overdue for more than 45 days, we shall forward the debt information to a payment default registry (Creditinfo Eesti AS). All costs related to debt collection shall be borne by you.

9. Costs related to the credit card agreement

For using the credit card, you will have to pay the card issue fee and a monthly maintenance fee. Please read also the price list of credit cards, which you can find from our webpage at http://www.seb.ee/eng/price-list.

Credit card agreement involves also the following fixed costs:

  • monthly fee of current account (www.seb.ee/hinnakiri#kontod);
  • fee for cash withdrawal at an ATM or branch;
  • 1.5% fee on the transaction amount for a transaction in a foreign currency.

10. Risk of possible decrease in solvency of the account holder

Please consider how to cope with the repayment of credit, should the overall economic environment deteriorate, your salary or other income decrease or your other expenditures increase.

To make a well-informed decision, analyse the actual financial situation of your family.

Contact us immediately if you encounter solvency problems. Call us right away also if your employment is terminated or an execution proceeding is commenced against you or your bank account has been seized. Together we shall find the most suitable solution to the situation.

11. Complaints and disputes

If you have any complaints concerning our activity, then first try to resolve the issue by negotiating with us. You can read about the general procedure of settling the disputes on our website at http://www.seb.ee/eng/legal/how-complain.

If you feel that our answer is not the one you expected from us and you still think that we have violated your rights when granting the credit, you will have the right to turn to the Consumer Protection Board (Pronksi 12, 10117 Tallinn; www.tarbijakaitseamet.ee) or the Financial Supervision Authority (Sakala 4, 15030 Tallinn; www.fi.ee), for advice and explanations.

Furthermore, in order to resolve a dispute, you may contact the Consumer Disputes Committee operating at the Consumer Protection Board or turn to court. A complaint to the Consumer Dispute Committee can be submitted also digitally via Online Dispute Resolution website at http://ec.europa.eu/odr.https://webgate.ec.europa.eu/odr/main/index.cfm?....

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