Pricelist changes to take effect on January 1: securities, loans and payments
A number of changes in bank's pricelist will take effect on January 1, 2018. These changes mainly concern transactions with securities, review of documents in mortgage lending and payments.
To encourage clients to choose electronic channels, as of January 1 commission fees for submitting stocks sales transactions to SEB bank's brokers will be set at the same level as submitting these transactions in bank's branches. Commission fees for submitting such transactions in internet bank remain unchanged, and they are set at a lower level.
As of January 1, monthly custody fees for several types of securities have been changed, equating them at the 0.015% rate while keeping the minimum fee at EUR 1, and a new commission fee in the amount of 0.005% has been introduced for custody of SEB investment funds. In addition, commission fees for some transaction with Latvian-registered securities have been changed.
Taking into account the large amount of manual work, which is necessary in delivering these services, the bank has updated commission fees for preparing, reviewing and coordinating documents in cases where client's mortgage loan is refinanced by another credit institution, the pledged property is sold or the client wishes to make some other amendments in the loan agreement.
As of January 1, the bank will introduce new commission fees for verifying non-resident client's (private individuals or companies) documents when opening an escrow account. These fees are appropriate to the necessary amount of work the bank has to invest in customer due diligence. The bank has also introduced first-time commission fee for servicing private individuals or companies with a power of attorney.
Due to increased cost price, the bank has updated commission fees for issuing Telebanka smart cards from EUR 14 to EUR 20. As before, instead of smart cards companies can continue to use eID cards as well.
Finally, as of January 13 the bank will no longer accept payment orders within the territory of European Economic Area with "OUR" option for collecting commission fees (client covers SEB bank, correspondent bank and beneficiary's bank commissions). The bank will accept and process only payment orders within EEA territory with "SHA" option for collecting commissions (client covers SEB's commission, and the recipient of the payment covers commissions of correspondent banks and beneficiary's bank).
