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Mastercard Business Credit Card

Mastercard Business Credit Card

Convenient payments for employees

  • Help on business trips – pay for hotels and flight tickets, book rental cars
  • Everyday payments for fuel, taxi, office supplies and business dinners
  • Safe purchases online
  • Purchase vignettes and pay the road tax

Credit card enables a convenient way to use company’s money and provides additional money with the credit limit granted by the bank. You can tie several credit cards to your company – order them for employees and individually adjust limits and allowed transactions.

Available funds

  • With the credit card, you have access to company's money as well as the credit granted by the bank
  • All card transactions are reported on the credit card statement
  • The company's money is accounted for separately from the credit limit – in the credit card current account
  • All transactions with the company's money are reported on the account statement

You can conveniently manage all credit card options in the internet 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 will be automatically repaid from the company account specified by you
  • You can make extra repayments of the credit limit only via Internet banking. To make extra repayments, select the relevant credit card and the step “repay” in the internet banking section “Loans”. This additional step is required to use the money from the credit card account for covering of the credit limit, including in cases when the money has been deposited at an ATM.

Transfers from the credit limit assigned by the bank

If the company’s funds are not sufficient to make an urgent transfer, your can make a transfer from the credit limit to the account. Using Internet banking, select the section Accounts/Cards->my Cards-> Transfers. The money will be credited to the account from the credit limit, and you will be able to transfer the necessary amount from the account. While such a transfer from the credit limit to the account is made within SEB bank, credit funds are used for it, therefore this is a chargeable service. Price list.

You can apply for SEB Mastercard Business Credit Card in the internet bank, if you are a business customer.

The Mastercard Business credit card is made within a couple of business days.

The card is valid for four years, and upon the expiry thereof the bank will automatically make and issue a new card to you. If your company uses the SMS banking service provided by SEB banka, you will receive a timely text message suggesting you to collect the new credit card.

Credit card general terms and conditions for legal entities

Services I Interest-free credit limit II Credit line III Fixed payment9
Fee for preparing a card/additional card 5.50 EUR 3.70 EUR 3.70 EUR
Fee for use of the card/additional card (per month)1 5.50 EUR 3.70 EUR 3.70 EUR
Replacing a card/additional card 15.00 EUR
Commission for purchase:
   •  in Latvia Free of charge
   •  abroad Free of charge
Cash withdrawal in another bank 2%, min 4.00 EUR
Cash withdrawal at ATMs of:
   •  SEB bank 2%, min 0.71 EUR
   •  SEB group (Estonia, Lithuania) 2%, min 0.71 EUR
   •  in Latvia: Swedbank 2%, min 0.71 EUR
   •  other banks 2%, min 4.00 EUR
Cash withdrawal at business operators' outlets2 2%, min 0.71 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)
Late payment interest 14.23 EUR +
60% per year (5% per month)
7.11 EUR +
36% per year (3% per month)
7.11 EUR +
36% per year (3% per month)
Contractual penalty 14.23 EUR +
60% per year (5% per month)
7.11 EUR +
36% per year (3% per month)
7.11 EUR +
36% per year (3% per month)
Monthly repayment amount 100% 5% Fixed in compliance with the agreement

Others charges and terms related to Mastercard Busines and VISA Business

Transfer from a credit limit 2%, min 0.71 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%
Calculation period 1 month
Payment period 14 days (starting from the first date of the month)

 

The limit of transactions within one calendar month includes purchased and cash withdrawal transactions of 10,000 EUR.

Total cash deposit limit in ATMs with all customer’s cards is 200,000 EUR per month.

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

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

 


 

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

2 Not available for Mastercard Business.

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 The card can be received at SEB bank’s branch "Dienvidu" at 16:00 of the same business day, if application has been submitted by 12:00, and at 16:00 of the next business day, if application has been submitted after 12:00.

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

Card transaction limits for your financial security

To ensure your greater financial security, transaction limits have been set. The limit is the maximum amount of transactions that can be carried out within a specified time period. If necessary, the standard limits set by the bank can be changed.

  • The limit for cash withdrawals set by the bank is the amount you can withdraw at ATMs within a 24-hour period. The standard limit set for the Mastercard Business credit card for cash withdrawals is 2,200 EUR. This limit can be changed, if necessary.
  • For additional security you can set the monthly spending limit. The monthly spending limit is the amount that you can spend within one month to make purchases with the card and withdraw cash at ATMs. This limit does not include online purchases. The limit set by the bank for transactions at points of sale and over the Internet within a 24- hour period is 5,000 EUR.

Practical recommendations for secure transactions with the card

  • Keep your payment card in a secure 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. Only you know the PIN. 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.
  • For security purposes, save the number of the information helpline of SEB banka in the memory of your mobile phone, which you may find useful in the event of the loss of the card – +371 26668777 (on the 24/7 basis).
  • Before confirming a transaction with the PIN of the card, always check the amount of the transaction.
  • Do not leave receipts in places accessible to others or throw out untorn receipts with your card number on them.
  • Get into the habit of keeping your transaction receipts for reconciling them with the transaction summary via internet banking.
  • Be careful when using the card over the Internet. Use only the offers of safe online shops and service providers.
  • If you enter a wrong PIN three times consecutively when making a purchase, the card will be automatically blocked for security reasons. You can unblock the card at SEB bank’s ATMs, by entering the correct PIN. Business Credit card users can view PIN in their private customer internet bank.

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What needs to be done when you have lost your payment card?

  • You can block your payment card in internet bank (in the internet bank of card user or Business internet bank) or by calling SEB bank 27/4 informative helpline +371 26668777.
  • If you find your card after you have reported the loss or theft thereof, please do not use the card and contact SEB bank immediately.

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