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Mastercard Business payment card

Mastercard Business payment card

  • Internationally recognised payment card
  • Ample payment opportunities in Latvia and abroad
  • Secure online purchases

The Mastercard Business payment card is just like any international credit card, the only difference being that it is tied to the company's current account. Mastercard Business payment card will significantly extend the functionality of your current account, as well as make the company's money more easily available for making day-to-day payments. You can issue the Mastercard Business card to the employees of your company to pay for various purchases, as well as to cover business travel expenses – they will be able to use the money held in the company’s current account within the limits set by you.

Mastercard Business payment card enables you to conveniently use the money in the company's current account

  • You can tie the card to the company's existing current account, as well as open an additional current account to segregate the money for card transactions.
  • You have the option to tie several cards to a single current account: You can order cards for several employees of the company and specify the permitted transactions and the limits thereof for each card.
  • The bank will automatically exchange all payments with the card executed in a difference currency, i.e., when making purchases abroad, in the base currency of the account.
  • Using internet banking for companies, Telebanka or SMS banking service you can control the company's cash flows, including transactions with credit cards while not at the company – from any location.

Use your Mastercard Business payment card for daily job-related purposes or on a foreign business trip to benefit from the following advantages:

  • No charges for payments for the purchases of goods and services in Latvia and abroad in euro;
  • Pay for your business travel expenses;
  • Book plane tickets, hotels, rent a car or apply for participation at a conference via the internet;
  • Make hassle-free payments for your online purchases;
  • Withdraw cash at ATMs and banks worldwide.
  • Get accident insurance only for 5 EUR a year.

Card transaction limits for your financial security

For greater security of the funds held in your current account the bank has set transaction limits. The limit is the maximum amount of banking 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 a day. The standard limit for cash withdrawal at ATMs for Mastercard Business payment card has been set at 1,500 EUR. This limit can be changed, if necessary.
  • Should you want to do so, 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 a day 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 nor 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 payment 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.

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

  • You can block your payment card in 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 banka immediately. The card may be unblocked within 60 days. If you do not apply for the unblocking of the card during this period, the card will be closed.

You can open an account and apply for the SEB bank payment card via the Internet banking or at any branch of SEB bank.

The Mastercard Business payment card is made within a couple of business days. The cardholder's name as well as the company’s name will appear on the card.

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 payment card.

Use Internet banking for companies or Telebanka, to conveniently get information about the card transactions carried out.

Apply for a free consultation at the the business consultant of SEB bank!

Services Fees
Fee for issuing a card/additional card 10.00 EUR
Fee for use of the card/additional card (per month)1 1.20 EUR
Fee for card/additional card renewal 1.20 EUR
Replacing a card/additional card 6.00 EUR
Commission for purchase Free of charge
Cash withdrawal in another bank 2%, min 3.00 EUR
Cash withdrawal at ATMs of:
   •  SEB bank 0,1%, min 0.57 EUR
   •  SEB group (Estonia, Lithuania) 0,1%, min 0.57 EUR
   •  in Latvia: Swedbank 0,1%, min 0.57 EUR
   •  other banks 2%, min 3.00 EUR
Cash withdrawal at business operators' outlets 0,1%, min 0.57 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

Others charges and terms related to Mastercard Business

Reviewing a complaint2, 3 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)4 5.00 EUR
Change of card transaction limit above the standard maximum limit set by SEB bank4 10.00 EUR
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 issue5 30.00 EUR
Surcharge on currency exchange when the currency of the card’s main account is not that of the transaction currency6 3%
Calculation period 1 month

 

The limit of cash withdrawal from ATMs within a period of time up to 24 hours for users of Mastercard Business as legal entities is 1,500 EUR.

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

The limit of purchases within a period of time up to 24 hours for users of Mastercard Business is 5,000 EUR.

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 The fee is related to cards which have not been prepared within Entrepreneurs plan. The fee applies starting with the second month of using the card.

2 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.

3 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.

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

5 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.

6 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.

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