Private
Digital Coin Jar
First step to start saving
- Money accumulates when paying with a debit card
- Signing the contract and using the service is easy
- Digital Coin Jar is free for everyone
Digital Coin Jar enables those, who so far have not found a way to save, to start doing it now. At the end of each day, the Digital Coin Jar rounds up your debit card payments to the next full euro and transfers the difference between the rounded and paid sum by next morning from your current account to the savings deposit. This way saving will become easier than ever before.
Digital Coin Jar is a new solution for saving money, which rounds up the card payments to the full euro and transfers the difference between the rounded and paid sum from your current account to the savings deposit. This way your financial reserves in the savings deposit will start growing in small but consistent amounts.
All debit card payments related to your current account, including payments made with the debit card on the Internet will be taken into account.
The basic principle of the Digital Coin Jar is simple
- If you make a card payment worth e.g. EUR 6.40, then by next morning 60 cents will be transferred to the savings deposit (the difference between the rounded amount of payment and the actual payment amount: 7.00 – 6.40).
- If you make several card payments a day, then the cents on all card payments rounded to the next full euro shall be summed up.
- If the card payment is already in full euros (e.g. EUR 2.00) then the amount shall not be rounded and no transfer shall be made on this transaction.
You can make additional payments to the deposit at any time, both by money transfer as well as in cash.
You will get a good overview of all Digital Coin Jar transfers in your Internet Bank.
To start saving with the Digital Coin Jar, take out the contract with just a few clicks in Internet bank or visit your nearest SEB branch.
Transfer is not made in the following cases:
- Reserved payments: When saving money in the savings deposit under the Digital Coin Jar solution, the reserved payments shall not be taken into account. A payment is included on the day when the funds are actually debited from your current account.
- Cancelled transactions: The cents that have already been transferred to the savings deposit shall not be returned to the current account if the card transaction is cancelled.
- There are no funds available in the current account: In this case the transfer to the savings deposit is not postponed and no partial transfer is made.
- Transfers: Internet bank transfers are not taken into account; only debit card payments made in web-stores are included. The list of debit cards can be found from our homepage under debit cards.
- Payment in full euros: Only uneven payments are taken into account. If the card payment is already in full euros then no transfer shall be made on this transaction.
Term of the agreement
Digital Coin Jar agreement is concluded without a term. The agreement ends automatically, if for 6 consecutive months no transfers have been made from your current account to the savings deposit by using the Digital Coin Jar service. The agreement is terminated also, if you close the savings deposit or the current account tied to the Digital Coin Jar.
Payments from the savings deposit
You can transfer the money saved with Digital Coin Jar at any time from the savings deposit to the current account and start using the money. Payments from the savings deposit shall be made pursuant to procedure as laid down in the conditions of the savings deposit agreement, If you would like to withdraw funds from the savings deposit in less than three days, a commission fee shall be charged in accordance with the price list of savings deposit.
How much does Digital Coin Jar agreement cost?
Taking out the Digital Coin Jar agreement and saving with the Digital Coin Jar is free: automatic transfers from the current account to the savings deposit cost nothing.
Is it possible to save also on credit card payments?
No. With Digital Coin Jar you can save only on debit card payments.
Can I tie my Digital Coin Jar agreement with my child’s account?
No. The agreement is tied only to your current account and savings deposit. If you wish, you can take out the child’s own Digital Coin Jar agreement.
Can I authorise the bank to transfer the cents, saved with my Digital Coin Jar agreement automatically to my child’s account?
It is not possible to transfer the cents saved with Digital Coin Jar agreement automatically to a current account of another person.
How is the saved amount calculated, if I pay with my debit card in a foreign web-store in a foreign currency?
The basis of calculation is the amount, converted into euros.
How can I get hold of the money saved with Digital Coin Jar?
You can get hold of the money, saved with Digital Coin Jar at any time, by transferring the money from the savings account back to the current account. The terms and conditions of the savings deposit apply to the payment of funds from the savings deposit. Transfer of funds from the savings deposit back to the current account is free of charge if the transfer is made on the third calendar day as of accepting the order. If you would like to receive funds sooner, a commission fee shall be charged in accordance with the price list of savings deposit.
Can I enter into a Digital Contract Jar contract if I have an overdraft?
Yes, you can. A Digital Coin Jar payment is not executed on the account of the overdraft limit. Only payments made with a debit card are taken into account.
Please read the terms and conditions before you sign the contract.
Terms and Conditions of Digital Coin Jar Agreement
| 1. Term deposit | ||
| opening | free of charge | |
| internal transfer from current account to deposit | free of charge | |
| cash deposit in the holder’s deposit | free of charge | |
| 2. Savings deposit | free of charge | |
| opening | free of charge | |
| first contribution upon opening the deposit | free of charge | |
| automated balancing | free of charge | |
| internal transfer from savings deposit to current account on the same day | 0,5% of the amount, min. EUR 1.60 | |
| internal transfer from savings deposit to current account after three calendar days or later | free of charge |