Smart ID: A new solution for using SEB internetbank

As of March 30 SEB clients can start using a new solution, which will ensure a secure and convenient access to internetbank and online payments. It is Smart-ID, an application for smartphones, which is available free of charge.

The new application provides strong authentication which complies with requirements of European Banking Authority and Finance and Capital Markets Commission for using internetbank and online payments. Smart-ID is available for both private individuals and companies.

Arnis Škapars, member of SEB bank's management board: "Smart-ID is the next generation solution which corresponds to highest standards of security. Clients will appreciate its convenience and speed, and the application will gradually replace code cards. Meanwhile, we have also made sure that those clients who are not using smartphones can continue to make the necessary transactions. Therefore limits for transactions that can be approved via code card will be decreased gradually, giving everyone an opportunity to choose an alternative means for auhentication."

To start using Smart-ID, the first step is to download the application from App Store of Google Play. Then you have to launch it and create your Smart-ID account. When it is ready, you will be able to open SEB internet bank and access your bank account via Smart-ID. More detailed information is available at SEB's webpage www.seb.lv/smart-id

It is important to note that functionality of code cards will be limited gradually. As of June 1 the daily limit for transactions authorized via code card (payments between accounts in SEB bank and to other banks) will be reduced to EUR 500. As of August 1 the daily limit for transactions authorized via code card (payments between accounts in SEB bank and to other banks) will be reduced to EUR 500. Also, as of August 1 clients will no longer be able to use code cards to approve online transactions with payment cards in e-stores who use 3D Secure authorization system (approval of the payment via internetbank).

Clients who are not using a smartphone, can choose to use a code calculator instead to be able to approve larger payments or shop online. Between April 1 and August 1 SEB will offer favourable conditions for acquiring a code calculator: users of Senior's plan can get it for a one-off issuance fee of EUR 4, while other clients can get it for EUR 10 (previously EUR 15, Silver and Gold clients receive an even better offer).