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Mastercard Standard credit card

Mastercard Standard credit card

  • You can choose between an interest-free credit limit for up to 45 days or a credit line
  • Additional funds up to amount of two monthly salaries
  • Purchase insurance free of charge, including online stores

Purchases made with SEB credit card starting from 10.03.2021 (for example, furniture, clothing, footwear, musical instruments, sports and leisure items, toys, household appliances, computer and other goods intended for long-term use) are insured.

Purchase insurance doesn’t require additional application, it is free of charge and also applies to online purchases.

Exceptions
Insurance object is not:
  • items whose purchase price is over 1000 euros;
  • used (not new) items at the time of purchase;
  • items rented and/or leased;
  • items that are not fully paid for at the time of insurance event, including items purchased on a post-paid basis;
  • services, including prepaid services;
  • motor vehicles, trailers, water and air vehicles, their equipment, parts and accessories equipment necessary for their maintenance;
  • cash, stamps and coins, tickets, receipts, vouchers and other means of payment;
  • precious stones, precious metals and items made using them;
  • works of fine art, except the works of applied art;
  • bear coats;
  • animals, plants;
  • weapons;
  • food, beverages, medicine, items with a normal shelf life with less than 3 months and other disposable articles, including items intended for a single use;
  • real estate, building, building materials, parts of buildings, equipment and accessories intended to be attached to buildings, such as air conditioners and heating equipment;
  • small buildings, fountains, swimming pools, hot tubs and barrels, plat and/or climbing constructions, greenhouses, garages, walkways, enclosures, irrigation hoses and systems, etc.;
  • items recycled, rebuilt and repaired at the time of the purchase;
  • damaged or dirty items at the time of the purchase;
  • items purchased for resale, business or professional activity;
  • items left in a public space without supervision. “Supervision” means that the Insurer or legal owner of the Insurance object keeps the property in such a way that the Insured will immediately notice the theft or damage to the item;
  • accumulators, batteries, filters, lights, engine belts, cassettes and other wearing parts;
  • documents;
  • collections;
  • items, which the Insurer is prohibited from keeping in accordance with the law.

Insurance coverage start and expiration

Purchase insurance automatically takes effect as soon as the purchased product is handed over to you. Insurance lasts for 180 days from the date of purchase with your credit card.

Insurance cover ends before the term if within these 180 days your credit card expires and isn’t renewed or replaced.

Insurance coverage territory

The insurance is valid worldwide. It means that purchases made with a credit card in both Latvian and foreign online stores and places of trade will be insured.

What to do if an insurance event occurs

Please inform the insurance provider If P&C Insurance AS Latvijas filiāle as soon as possible about an insurance event. You can submit an application by calling at +371 67338333, in writing on the insurer’s website Application for purchase insurance indemnity (LAT) or by e-mail atlidzibas@if.lv, including:

  • purchase receipt, as well as a receipt or internet bank statement that confirms that you made the purchase with a credit card;
  • an estimate of the repair costs, including transportation costs, made by an authorised repairer;
  • police report, if theft, burglary or robbery has occurred.

If P&C Insurance AS Latvijas filiāle will contact you if it will be necessary to ask for additional documents and evidence, clarify information about the circumstances of the insurance event, the amount of losses and possible liable persons, or agree on the possibility to inspect the scene or damaged property.

Insurance indemnity limit

  • Annually – 4000 euros
  • Per insurance object – 1000 euros
  • Per insurance event – 2000 euros
  • Per single insurance event for special objects – 400 euros
    The exact list is available in the Clause 32 of the Insurance terms and conditions

A deductible of 30 euros is applied per each insurance indemnity.


Payout of the insurance indemnity

After receiving all the necessary documents, a specialist of If P&C Insurance AS Latvijas filiāle will make a decision on the indemnity within 10 working days. You will be notified in writing about the decision.

The insurance indemnity will be transferred to your SEB current account by If P&C Insurance AS Latvijas filiāle. A deductible of 30 euros will be deducted from the insurance indemnity. The amount of indemnity depends on the condition of the item:

  • if it’s reasonable and economically viable to repair the item, the compensation is based on the repair costs, including the necessary and reasonable transportation costs;
  • if the item cannot be repaired or it’s not economically viable, or the item is stolen, the compensation is based on the purchase price of the item.

Insurance terms and conditions for purchases with credit cards (LAT)

What to do if an insurance event occurs (LAT)

Available funds

With the credit card, you have access to your own money as well as the credit granted by the bank.

Repayment of the credit limit

You can choose how to repay the credit limit – as the interest-free credit limit or the line of credit.

The used credit limit is automatically repaid from the current account linked to your credit card on the 15th day of the month, or other date (5th to 15th) chosen by you. It is the date, when you need to have sufficient amount of the money on account to cover your credit limit and interest.

Credit line (5%)

You may repay the used amount of the credit line to the bank gradually – in the period from the 5th to 15th day of the following month, by repaying only 5% of the credit limit used in the previous month. Interest, contractual penalties and late payment interest are deducted together with the principal.

The amount of the credit limit – from 300 EUR up to 200% of your monthly net income.

Interest-free credit card (100%)

You may use the interest-free credit limit free of charge for up to 45 days – if you pay back the used credit limit amount by the 15th day of the next month, no interest will be charged, and the full credit limit will be available again.

The amount of the credit limit – from 300 EUR up to 100% of your monthly net income.

Allowed transactions and limits

In the internet bank or mobile app you can set allowed transactions and limits for your cards.

Receiving the card by post

To receive the card by post, please update your contact information in the internet bank.

After receiving the card it will need to be activated within 4 weeks at an ATM of SEB, via the internet bank or by calling SEB at + 371 26668777. If the card is not activated, it will be closed.

Card transaction limits for your financial security

For added security of the funds held in your account, the bank has set monthly transaction limit for POS and online transactions – 5,000 EUR. You can change it, if necessary.

Tips for secure transactions with your card

  • Keep your payment card in a safe place;
  • Do not disclose the PIN of your card, nor keep it written on a piece of paper together with your card or in your mobile phone. When confirming your transactions with the PIN, make sure that nobody can see it;
  • The card may be used only by the person whose name and signature appears on the card;
  • Always check the amount of the transaction before confirming the transaction with the PIN;
  • Keep transaction receipts for reconciling the amounts shown on them with the internet bank transaction report;
  • Only use the services of secure online shops and service providers;
  • When making a purchase, if you enter a wrong PIN three times consecutively, the card will be automatically blocked for security reasons. The card can be unblocked at ATMs, by entering the correct PIN.

What to do if the payment card is lost?

  • Immediately block the card:
    • in the mobile app’s section Cards;
    • in the internet bank’s section My cards;
    • by calling at +371 26668777.
       
  • If you find your card after reporting the loss or theft thereof, please do not use the card and contact SEB.

If you already are a customer of SEB, you can apply for the credit card via the internet bank. If you are not a customer of SEB yet, you can apply for the credit card at any branch of SEB by taking your passport or ID card with you.

To receive the card by post, please update your contact information in the internet bank.

After receiving the card it will need to be activated within 4 weeks at an ATM of SEB, via the internet bank or by calling SEB at + 371 26668777. If the card is not activated, it will be closed.

Services I Interest-free
credit limit
II Credit line III Fixed payment1
Fee for preparing a card/additional card, if activated in a bank’s branch or by calling the customer’s centre 5.00 EUR
Fee for preparing a card/additional card, if activated in the internet bank, mobile app or ATM 2.50 EUR
Fee for use of the card/additional card (per month)2 2.50 EUR
Replacing a card/additional card 15.00 EUR
Replacing a card/additional card, if activated in the internet bank, mobile app or ATM 10.00 EUR
Commission for purchase in Latvia and abroad Free of charge
Cash withdrawal in another bank 2%, min 4.00 EUR
Cash withdrawal at ATMs 2%, min 4.00 EUR
Cash deposit at SEB bank’s ATM:
   •  up to 6,000 EUR within one calendar month for all customer's accounts Free of charge
   •  upon exceeding monthly credits of 6,000 EUR for all customer's accounts 0,1% of transaction amount
Changes in the credit card agreement (submitted to the branch) 10.00 EUR
Changes in the credit card agreement (submitted in internet bank)3 Free of charge
Reviewing an application of credit limit increase 10.00 EUR
Fee for the used credit limit (per year) 0% 21% (1,75% per month) 24% (2% per month)
Monthly repayment amount 100% 5% Fixed in compliance with the agreement
Late payment interest (per year) 36% (3% per month)
Contractual penalty (per year) 36% (3% per month)

Others charges and terms related to Contactless Mastercard

Fee for sending a card/additional card by mail in the territory of Latvia Free of charge
Fee for sending a card/additional card to abroad 6.00 EUR
Reviewing a complaint4, 5 Free of charge
Change of PIN code in SEB bank’s ATMs Free of charge
Fee for unblocking PIN code of a card in SEB bank’s ATMs, if the PIN has been entered incorrectly for 3 consecutive times while using POS terminal Free of charge
Change of card transaction limit within SEB bank's standard limit (branch)6 5.00 EUR
Change of card transaction limit above the standard maximum limit set by SEB bank6 10.00 EUR
Consideration of a loan application Free of charge
Checking the account balance through ATMs of:
   •  SEB bank Free of charge
   •  other banks in Latvia 0.45 EUR
   •  other banks abroad 1.00 EUR
Fee for urgent card issue7 30.00 EUR
Surcharge on currency exchange when the currency of the card’s main account is not that of the transaction currency8 3%

 

The limit of transactions within one calendar month includes purchased and cash withdrawal transactions of 5,000 EUR.

Total cash deposit limit in ATMs with all customer’s cards is 7,000 EUR per month.9

For other services (current account maintenance, transactions in the account, processing of the customer’s documents etc.) which SEB bank provides to the customer in relation to payment card servicing, the customer pays in accordance with SEB bank’s General Price list for individuals.

A maximum of 200 banknotes can be deposited in an ATM in a single deposit transaction.

 


 

1 From December 2017 new cards with a fixed payment refund scheme are not offered.

2 Charged starting from the second month of using the card/additional card.

3 Except increase of the credit limit.

4 If processing of the complaint involves obtaining documentary proof of transactions, then a fee will be charged to the amount of the actual cost of the service.

5 Application shall be deemed received by us:
    •  on the current working day if the application is submitted and received before 16:00;
    •  on the next working day if the application is submitted after 16:00.

   In case working day is shortened according to the law, the above deadline shall be one hour prior to end of the shortened working day.

6 Includes changes in POS, ATM and monthly spending limits.

7 If the card is ordered on business day by 12:00, it will be available at the Rīdzene branch on the same day after 16:00. If the card is ordered after 12:00, it can be received at Rīdzene branch on the next business day after 16:00.

8 Information about exchange rates is available on the home page of International card organizations
https://www.mastercard.com/global/currencyconversion/index.html and https://www.visaeurope.com/making-payments/exchange-rates.

9 SEB bank has the right to unilaterally reduce or increase the cash deposit limit upon evaluation of the Customer's business and personal activities.

Contacts

  • +371 26668777
    +371 67779988

    Block payment card and internet bank

    24/7

    Other questions

    Private customers

    Mon - Fri 08.00 - 20.00

    Business customers

    Mon - Fri 08.30 - 18.00

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