On 1 January, the price list and terms and conditions of AS SEB Pank will change

Changes will enter into force on 1 January 2019 in the price list of AS SEB Pank, the terms of settlement, and the contracts of international credit cards, credit cards with fixed payment, and the Business Client Internet Bank.

Changes to the pricelist are related to day-to-day invoicing and concern both private and business clients. The biggest changes are related to the settlement plans. However, settlement plans will still be the most affordable solution for our clients compared to purchasing each product separately on a regular basis.

Changes to the commission fees

• concluding settlement plans and monthly fees;
• cross-border payments in a bank branch;
• issuing ITIC Teacher and ISIC Student cards and maintenance fees;
• maintenance fees of debit and credit cards of business clients;
• holding Estonian securities;
• concluding and amending loan agreements;
• foreign trade in products (warranty, letter of credit, documentary collection);
• opening accounts for non-residents and monthly fees for their accounts.

For a comparison of current and future prices, see table below.

Changes to the terms and conditions

Terms of settlement

In the terms of settlement, we specified that the bank can choose not to pay the incoming payment to the account if the account number in the payment order and the name of the receiver are contradictory.

New terms of settlement as of 1 January 2019

Terms and conditions of credit cards

• We combined the terms and conditions of the contracts for credit cards and credit cards with fixed payment. Now, all conditions related to credit cards are in one document regardless of the type of credit card.
• The procedure of repayment for card transactions will change for holders of contracts for credit cards with fixed payment. Until now, it was possible to determine the amount of the mandatory repayment limit, in which case credit repayments were made only after the amount of the used credit exceeded the repayment limit agreed upon in the contract. Now, credit repayments will be made on a monthly basis and the mandatory repayment limit is no longer applicable.
• We will no longer send automatic credit card statements to the private client's e-mail address. Credit card transactions can be viewed on the Internet bank or at a bank branch.
• We specified the repayment term. So far, the repayment had to be received by the payment term. After the change, the repayment must be received by 6 p.m. on the payment term.
• We added the option of blocking the credit limit of a credit card to the terms and conditions. So far, we blocked credit cards in the case of debt or violation of other obligations. After the change, we can choose a less restrictive measure and block the credit limit on the card account.
• We made changes regarding the inclusion of additional features to the credit card account. We will add the same functions to the card account as we have on current accounts today. For example, you will also be able to make payments from a card account.

New terms and conditions of credit cards as of 1 January 2019

Terms and conditions of the Business Client Internet Bank

The biggest change in the terms and conditions of the Business Client Internet Bank is that loan disbursements made on the basis of a loan disbursement application are no longer considered for Internet Bank limits.

New terms and conditions of the Business Client Internet Bank as of 1 January 2019

If you accept the changes, you do not need to do anything: in this case, the new price list and the new terms and conditions of your contract(s) will take effect on 1 January 2019. If you do not agree to the changes in the price list or the terms and conditions, you are entitled to terminate the contract(s) concluded with the bank no later than on 31 December 2018.

Changes in AS SEB Pank price list starting from 1 January 2019

Accounts

(1) The bank starts handling of documents after the handling fee of documents has been paid The fee is not returned if the bank decides not to open the account. The fee is not applied to the opening of each subsequent current account.
(2) Monthly fee is not charged for the account opening month, if the account is opened after the 15th day of the month.
(3) Monthly fee is not applied to clients of SEB Plans. Monthly fee is charged in full amount for the month, when the plan ends.
(4) Monthly fee is not applied to clients, who are younger than 19 years of age (incl.) or older than 65 years of age (incl.).

Plans for private persons

(1) A client is not charged monthly fee for formalizing a plan.
(2) Client, who forms SEB Family Plan, can invite 7 members to Plan. For members monthly fee doesn't expand.

Plans for business customers (1)

(1) Product is not offered to non-resident legal persons.
(2) A special fee applies to a business customer, who has taken out a Bank Link contract, a contract for servicing payment cards, a credit card agreement, a loan-, leasing- or a factoring agreement.

Account statements

Payments

(1) If a payment in any currency is made to an European Union Member State, Island, Norway, Liechtenstein, Switzerland, Andorra, San Marino or Monaco and the account number on the payment order is not in the IBAN format, a fee in addition to the above commission fees may be charged in amount, corresponding to 12 euros.
(2) Can be made only to a beneficiary's bank outside the EEA contracting country. If the actual costs of other payment service providers, participating in processing a cross border payment, exceed EUR 20, the bank may later debit in addition the difference of the commission fees from the client's account, however not more than within an amount, corresponding to EUR 75. The bank ensures transfer of the cross border payment in full amount from the bank's correspondent account, however shall not guarantee that the payment is received in the beneficiary's account in full amount.
(3) Upon agreement with the Markets department.

Debit cards

(1) Free with a Plan.

Credit cards

Electronic products and services

Loans

(1) All amendments to the loan, which have not been indicated under separate clauses in the price list (incl. amendment of collateral in a notarised or other form).
(2) Commission fee applies to certificates issued at a bank office. A certificate issued automatically in the Internet Bank is free for the client (for enclosing electronically to income tax return).

Guarantees

Collection

Letters of credit

Securities

(1) Maintenance fee is calculated once a month on the last banking day on the basis of the aggregated value of securities, kept on the securities accounts tied to one cash account. However a minimum maintenance fee as per price list is applied to an empty Baltic securities account. When calculating the value of securities, the bank proceeds from the net asset value (NAV) of the fund unit, for bonds - from the nominal value, for traded shares - from the market value or the most recent price, known to the bank. For the rest of the securities, the bank proceeds from the par value of the security or the accounting par value of the security. If information about the par value cannot be obtained from the financial data vendor, the par value shall be deemed to be 1. The maintenance fee of the securities account and the fee for the statement shall be debited from the client's cash account tied to the securities account once a month, the latest by the 15th day of the following calendar month.
(2) VAT shall be added to the service charge as per Value Added Tax Act. VAT is not added to monthly maintenance fee, if the securities account holds only the units or shares of a mutual fund stipulated in the Investment Funds Act or a mutual fund of a Member State of the European Economic Area.
(3) Only those accounts, which contain only the securities of Estonian companies, which are either bankrupt or under liquidation, are exempt from a monthly maintenance fee, based on the information received from the Baltic Central Securities Depository. Monthly maintenance fee is not calculated, if the only securities held in the securities account throughout the entire calendar month are those, belonging to Estonian companies, which are in bankrupt or under liquidation.