Important changes for users of code cards to take effect on June 15

Several important changes for users of code cards will take effect on June 15 concerning transaction limits, daily limits and online purchases.

According to requirements of European Banking Authority and Financial and Capital Markets Commission, as of April 1, 2017 clients have to use strong authentication while paying in internetbank and making purchases in internet stores.

Therefore SEB bank is offering its customers a new solution: Smart-ID. It is a free of charge application for smartphones, enabling a secure and convenient access to internetbank and online payments. Customers who use this app no longer have to carry the code card in their wallets.

However, we wish to inform those clients, who are still using code cards, that several important changes concerning transaction limits and daily limits will take effect on June 15:

Transaction limits:

• 30 EUR transaction limit for payments to other banks: only payments up to 30 EUR can be authorised with a code card in internetbank;
• 500 EUR transaction limit for payments to other accounts in SEB: only payments up 500 EUR can be authorised with a code card in internetbank.

Daily limits:

• 150 EUR daily limit for transactions to other banks: the total sum of all payments authorised with a code card during one day cannot exceed 150 EUR;
• 500 EUR daily limit for transactions to other accounts in SEB: the total sum of all payments to other accounts in SEB authorised with a code card during one day cannot exceed 500 EUR.

Please note that the daily payment limits do not stack. The total amount of daily payments confirmed by code card (within SEB bank and to other banks) will be limited to 500 EUR.

Furthermore, as of June 15 clients will no longer be able to use code cards to approve online transactions with payment cards in online shops, using 3D Secure authorization system (approval of the payment via internetbank).

To avoid these limitations and continue to make your payments in internetbank and shop online, we encourage you to choose either Smart-ID application for smartphones or code calculator.