In January, the price list and terms and conditions of AS SEB Pank will change
On 1 January 2018, changes will come into force in the price list of AS SEB Pank. On 13 January, changes in the general terms and conditions, in the terms of settlement, in the terms and conditions of agreements of current accounts, debit cards, credit cards, and credit cards with fixed payment, and in the terms and conditions for the Internet Bank for Business, the Internet Bank for private individuals, the merchant agreements of cards, mobile payments and express notifications, forwarding e-invoices, and e-invoice with automated standing order agreements will enter into force.
Changes to the price list
Commission fees changed in the price list:
- exchanging currency in our office;
- decreased free deposit limit of cash deposits in ATMs;
- concluding loan agreements;
- amending loan agreements;
- sending documents and banking equipment by post;
- cross-border payments.
For a comparison of current and future prices, see the table below.
Changes to the terms and conditions
For the terms and conditions, we have
- simplified the wording;
- changed the structure: the text is now better arranged and the key information is more clearly distinguished;
- added a table of contents to help you find the necessary information more easily;
- updated the layout and enlarged the font size so that you can easily read the terms and conditions from your smart device.
In the terms and conditions of cards, the Internet Bank, and mobile payments, we have changed the deductible rate in the case of the card or passwords being lost or stolen from 150 euros to 50 euros.
In the general terms and conditions, we have amended
- the definition of connected persons;
- the grounds for refusing to establish a client relationship and the termination of the agreement;
- the grounds for blocking an account;
- the procedure for sending notices to clients.
The principles for processing client data have been included in a separate document: ‘Procedure for processing client data in the companies of SEB Eesti’.
New general terms and conditions from 13 January 2018
Procedure for processing client data
We excluded the principles for processing client data from the general terms and conditions of the bank and prepared a separate document on the basis of them – ‘Procedure for processing client data at the companies of SEB Eesti’.
We made smaller changes to the wording in connection with the changes in the settlement of securities (joining T2S).
Procedure for processing client data from 13 January 2018
In the terms and conditions of current account agreements, we have made changes
- in connection with the opportunity to make payments through a payment initiation service provider and receive account information via the account information service provider in the future;
- in the grounds for refusing to execute transfer orders and the responsibility for executing a transfer order.
New general terms and conditions of current account agreements from 13 January 2018
In the terms of settlement, we have
- changed cross-border payments with the commission fee type ‘remitter pays’. Henceforth, this can only be done to the beneficiary’s bank located outside the agreement country.
- specified the deadline for the execution of cross-border payments depending on whether the beneficiary’s bank is located inside or outside the agreement country.
New terms of settlement from 13 January 2018
In the terms and conditions of debit cards, we have
- supplemented the grounds for failure to execute an order and blocking the card;
- clarified the responsibility of the parties, including the conditions for the reimbursement of transactions made without the consent of the account holder;
- added that the bank can provide information to its partner regarding the card’s validity if it is necessary to enable the client the benefits associated with a particular type of card offered by the bank’s partner (e.g. cheaper travel insurance).
New terms and conditions of debit card agreements from 13 January 2018
In the terms and conditions of credit cards, we have
- supplemented the grounds for failure to execute an order and blocking the card;
- clarified the responsibility of the parties, including the conditions for the reimbursement of transactions made without the consent of the account holder;
- specified when the transaction amount exceeding the credit limit shall be paid to the bank;
- added that the bank can provide information to its partner regarding the card’s validity if it is necessary to enable the client the benefits associated with a particular type of card offered by the bank’s partner (e.g. cheaper travel insurance).
New terms and conditions of credit card agreements from 13 January 2018
In the terms and conditions of credit cards with fixed payment, we have
- supplemented the grounds for failure to execute an order and blocking the card;
- clarified the responsibility of the parties, including the conditions for the reimbursement of the transactions made without the consent of the account holder;
- specified when the transaction amount exceeding the credit limit shall be paid to the bank;
- added that the bank can provide information to its partner regarding the card’s validity if it is necessary to enable the client the benefits associated with a particular type of card offered by the bank’s partner (e.g. cheaper travel insurance).
New terms and conditions of credit card agreements with fixed payment from 13 January 2018
In the terms and conditions of the Internet Bank for private individuals, we have
- specified the technical and security requirements for using the service;
- amended the methods of client authentication and transaction confirmation for solutions that will come into use in the future;
- amended the conditions of blocking the Internet Bank;
- specified the procedure for changing and calculating the limits on the Internet Bank;
- added that when logging into the SEB mobile application, the Bank shall accept biometric means of identification that are in compliance with the requirements set by the Bank (see the Annex to the agreement for the Internet Bank for private individuals).
New general terms and conditions of the Internet Bank for private individuals from 13 January 2018
In the terms and conditions of the Internet Bank for Business, we have
- specified the technical and security requirements for using the service;
- amended the methods of client authentication and transaction confirmation for solutions that will come into use in the future;
- amended the conditions of blocking the Internet Bank;
- specified the procedure for calculating the limits on the Internet Bank.
New general terms and conditions of Internet Bank for Business from 13 January 2018
In the terms and conditions of mobile payments and the express notification service, we have
- amended the grounds for blocking the service;
- erased references to mobile payments at merchants who have concluded an agreement for accepting mobile payments.
In the terms and conditions of the agreement for forwarding e-invoices, we have
- simplified the procedure of concluding an e-invoice with automated standing order agreement at the Beneficiary and the requirements for the documents gathered about the Remitter.
New general terms and conditions of the agreement for forwarding e-invoices from 13 January 2018
In the terms and conditions of e-invoice with automated standing order, we have
- specified the conditions for stopping the payments.
New general terms and conditions of e-invoice with automated standing order from 13 January 2018
In the terms and conditions of merchant agreements of cards, we have
- renamed the terms and conditions of merchant agreements of cards into the terms and conditions of merchant agreements of card transactions;
- specified the obligations of the merchant when making a transaction and the ground for chargeback;
- specified the right to refuse to accept cards;
- added a ban on the use of charging an additional fee for using a card if it is prohibited by law;
- specified the provision of details on transactions and fees to the merchant;
- renewed the grounds of termination of the agreement and the terms of liability and dispute resolution.
New terms and conditions of card payments acquiring services agreements from 13 January 2018
Changes in the price list of AS SEB Pank from 1 January 2018
Cash transactions
| Currently valid | From 1.01.2018 | |
|---|---|---|
| Foreign currency exchange | EUR 3 | EUR 5 |
Debit and credit cards
| General transaction and service fees of debit and credit cards | Currently valid | From 1.01.2018 |
|---|---|---|
| Cash deposit at SEB Estonia ATMs | 0.3 % of the deposited amount, if the amount exceeds EUR 5,000 in a calendar month per client (holder of account(s)) with debit and/or credit card | 0.3 % of the deposited amount, if the amount exceeds EUR 4,000 in a calendar month per client (holder of account(s)) with debit and/or credit card |
Loans
| Currently valid | From 1.01.2018 | |
|---|---|---|
| Contract fee | ||
| - private person | ||
| - mortgage loan | 1% of the loan amount, min EUR 150 | 1% of the loan amount, min EUR 150 |
| - legal person (incl. self-employed person) | ||
| - overdraft | 1% of the credit limit, min EUR 175 | 1% of the credit limit, min EUR 200 |
|
- working capital loan |
1% of the loan amount, min EUR 175 | 1% of the loan amount, min EUR 200 |
| - investment loan | 1% of the loan amount, min EUR 175 | 1% of the loan amount, min EUR 200 |
| - start-up loan | 1% of the loan amount, min EUR 175 | 1% of the loan amount, min EUR 200 |
| - apartment building renovation loan | 1% of the loan amount, min EUR 175 | 1% of the loan amount, min EUR 200 |
| Contract amendment fee |
|
|
| - private person | ||
| - home loan, endowment loan | up to 1% of the remaining loan, min EUR 150 | up to 1% of the remaining loan, min EUR 190 |
| - mortgage loan | up to 1% of the remaining loan, min EUR 150 | up to 1% of the remaining loan, min EUR 190 |
| - amending the student loan repayment schedule | starting from second amendment EUR 7 | free of charge |
| - service fees applicable to all private loan products except student loan | ||
| - change or replacement of the borrower of home loan, mortgage loan, endowment loan | EUR 130 | up to 1% of the remaining loan, min EUR 190 |
| - change of the payment date | once a year free of charge; starting from the second change of the paying day within one year EUR 20 | EUR 20 |
| - extending the loan disbursement period | - | EUR 50 |
| - extending the term of special conditions stipulated in the loan agreement | - | EUR 100 |
| - increasing the loan amount | ||
| - consumer loan | 1.5% of the loan amount, min EUR 35 | A new agreement is concluded upon issuing an additional amount with the contract fee as per price list |
| - home loan | 1% of the loan limit, min EUR 250 | A new agreement is concluded upon issuing an additional amount with the contract fee as per price list |
| - mortgage loan | 1% of the loan limit, min EUR 150 | A new agreement is concluded upon issuing an additional amount with the contract fee as per price list |
| - legal person (incl. self-employed person) | ||
| - increasing the loan amount/limit | 1% of additional loan amount/limit, min EUR 175 | 1% of additional loan amount/limit, min EUR 200 |
| - amendment of contract | 1% of the remaining loan/limit, min EUR 175 | 1% of the remaining loan/limit, min EUR 200 |
Additional services
| Currently valid | From 1.01.2018 | |
|---|---|---|
| Sending documents and bank accessories (code card, ID-Card reader, PIN calculator) by registered mail | ||
| - in Estonia | - | EUR 5 |
| - outside Estonia | - | EUR 10 |
| Sending bank documents, certificates, confirmations by mail | ||
| - in Estonia | EUR 1 | EUR 2 |
| - outside Estonia | EUR 2 | EUR 5 |
| Fee for the establishment of account pledge | - | EUR 180 |
Changes in AS SEB Pank price list starting from 13 January 2018
Payments
| Outgoing payment | Currently valid | From 13.01.2018 |
|---|---|---|
| Cross border payment without charges to beneficiary | Cross border payment “without charges to beneficiary” can be made to a beneficiary’s bank in the EEA contracting country as well as outside the contracting country | Cross border payment “without charges to beneficiary” can be made only to a beneficiary’s bank outside the EEA contracting country |
| Receivable | Currently valid | From 13.01.2018 |
| Cross border payment without charges to beneficiary | Is not free of charge, if the remitting bank has not specified currency conversion on the payment order received from an European bank | free of charge |
If you accept the changes, you do not need to do anything: in that case, the new price list will apply to your agreement(s) from 1 January 2018 and the new terms and conditions from 13 January 2018. If you do not agree to the changes in the price list or the terms and conditions, you have the right to terminate the agreement(s) you have concluded with the bank on 31 December 2017 at the latest.
For more information, call our customer support at 665 5100 or contact us via Skype (username: seb.eesti).
