SEB in Baltics is becoming one bank on 1 January 2027

From 1 January 2027, SEB banks in Latvia, Lithuania and Estonia will be merged into a single legal entity. We are simplifying our structure so we can operate more flexibly and better respond to our customers’ needs.

Following the bank merger, you will continue using all SEB services as usual. The only change is that your existing agreements with SEB banka will be transferred to SEB Bank AS. Where relevant, we will provide additional information regarding specific products or services.

SEB Baltic banks merger

The merger of AB SEB bankas (Lithuania), AS SEB banka (Latvia) and AS SEB Pank (Estonia) is planned to take effect on 1 January 2027, once the merger has been registered. The merged bank name will be SEB Bank AS, registered in the Estonian Commercial register.

All services, agreements, rights and obligations will automatically transfer to SEB Bank AS and customers will continue to be served through the local branch SEB Bank AS Latvijas filiāle. 

Our daily operations and customer service will continue as usual. Your accounts, cards and loans as well as access to internet bank and mobile app remain unchanged, existing agreements remain valid and all banking services continue as usual. 

Deposit Guarantees and Investments Protection

After the bank merger, the protection of deposits and investments will be transferred to the Estonian Guarantee Fund (Tagatisfond) and deposits and investments protection requirements will be defined in accordance with Estonian law. 

Both Latvian and Estonian guarantee schemes are based on the EU Directive 2014/49/EU on deposit guarantee schemes and Directive 97/9/EC on investor-compensation schemes.  

Please find detailed information about protection provided by Estonian Guarantee Fund on our webpage or in documents below: 

Basic information about the protection of deposit (PDF)
Basic information about the protection of investments (PDF)

Information regarding the currently applicable documents can be found on our website:
Background information on protection of deposits (PDF)
Information about investments services (PDF)

Personal data processing 

We will continue to treat your data with the same high standards of care and security and in accordance with the applicable data protection laws. The only change is that after the merger, SEB Bank AS will become the data controller responsible for data processing in Latvia. For more information, please visit Privacy Policy page on our web site. 

For leasing customers name of leased vehicle owner name will change

If you have a vehicle financed through SEB leasing, please note that following the merger and bank’s legal name change, the owner of vehicles financed through leasing will change. Currently no action is required from you – we will contact you individually after the merger to inform about any required actions. 

Amendments to General Business terms and conditions

Due to the bank merger, we have changed the legal name to SEB Bank AS Latvijas filiāle in the General Business terms and conditions. 
In addition, we have made a few technical and editorial changes to the aforementioned documents that do not affect the way you use our services. 
You can find, read and compare all Terms and Conditions on our website
For private customers 
For business customers 

Amendments to Terms and Conditions for the Internet bank

The updated Internet bank Terms and Conditions will simplify the management of internet bank agreements for customers who are no longer actively using SEB services (e.g. have not logged in for 12 months).
Internet bank agreement and mobile application terms and conditions for private customers 
Internet bank agreement terms and conditions for business customers 

Changes in merchant services 

We are updating the Terms and Conditions of our Merchant Agreement and E-commerce Payment Services. The updated terms will require merchants to inform the bank if gift cards are sold at their business locations, as this activity is subject to specific risk management requirements.  
We are also clarifying that merchants are responsible for obtaining and maintaining all licences, permits, and authorisations required for their business activities. In addition, we are setting claim submission period of up to 45 days. 

• Terms and conditions of the Payment card acceptance and Payment card acceptance device installation agreement 
• Payment cards acceptance on the internet agreement terms and conditions 

Next steps 

The changes to all of the above documents will enter into force on 1 January 2027 automatically. If you don’t agree with the changes, you have the option to end our contractual relationship until January 1, 2027.

In addition, following the changes of deposit guarantee scheme, customers have the right to transfer their deposits and interest payments on them to another credit institution selected by the depositor or to withdraw their deposits and interest payments on them without commission fee from January 2 till April 2, 2027. If you want to use this right, inform SEB via the internet bank or at a branch (please book a meeting in advance).

We have provided more detailed information about all matters related to the bank merger, as well as answers to frequently asked questions, in the dedicated section of our website, “Merger of SEB Banks in the Baltics”.