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Mastercard Classic credit card

Mastercard Classic credit card

  • For larger purchases
  • For travel, hotel and flight reservations, and for renting a car
  • For daily settlements

The internationally recognised and secure Mastercard Classic credit card will enable you to pay for your purchases in Latvia as well as abroad and to use one of the two types of loans, i.e., an interest-free credit limit of 100% of your salary or a credit line that provides additional financing of 200% of your salary.

Borrow deliberately, assessing your capacity to repay the loan.

Available funds

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

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 is automatically repaid from the current account, linked to your credit card on the 15th day of the month or other date (5th to 15th), chosen by you. It is the date, when you need to have sufficient amount of the money on account to cover your credit limit and interests.
  • You can make repayment of the credit limit on your own via internet bank selecting the relevant credit card and the step “repay” in a section Loans/Leasing – My loans - Loan agreements or in a section Accounts/Cards - Card credit limit. 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 your own funds are not sufficient to make an urgent transfer, your can make a transfer from the credit limit to the account. Using Internet bank 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.

Permitted transactions and limits

You have an option set the permitted transactions and limits for each card.

For your convenience, we offer you to tie to your credit card an interest-free credit limit or a credit line at your discretion.

Credit line (5%)

You may repay the used amount of the credit line to the bank gradually – in the period from the 5th to 15th day of the following month, by repaying only 5% of the credit limit used in the previous month. Interest, contractual penalties and late payment interest are deducted together with the principal.

The amount of the credit limit – from 50 EUR up to 200% of your monthly net income.

Interest-free credit card (100%)

You may use the interest-free credit limit free of charge for up to 45 days – if you pay back the used credit limit amount by the 15th day of the next month, no interest will be charged, and the full credit limit will be available again.

The amount of the credit limit – from 50 EUR up to 100% of your monthly net income.

Card transaction limits for your financial security

For added security of the funds held in your account, the bank has set monthly transaction limitr or POS and online transactions – 5,000 EUR. You can change it, if necessary.

Practical tips for secure transactions with your card

  • Keep your payment card in a safe 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 cell phone.  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;
  • Always check the amount of the transaction before confirming the transaction with the PIN;
  • Keep transaction receipts for reconciling the amounts shown on them with the internet bank transaction report;
  • Only use the services of safe online shops and service providers;
  • When making a purchase, if you enter a wrong PIN three times consecutively, the card will be automatically blocked for security reasons.  The card can be unblocked at ATMs, by entering the correct PIN.

What to do if the payment card is lost?

  • To block your payment card, please call SEB bank immediately on its 24-hour line + 371 26668777);
  • If you find your card after reporting the loss or theft thereof, please do not use the card and contact SEB bank.

If you already are the customer of SEB bank, you can apply for the credit card via the internet bank. If you are not the customer of SEB bank yet, you can apply for the credit card at any branch of SEB bank; you will be asked to show your passport or ID card. 

You will be able to receive the credit card at the branch within five business days.  The card is valid for four years, and for your convenience we offer you an option to get your card by post.

In order to receive the card by post, please update your contact information on the internet bank or at the branch. At the end of the month, your will receive the renewed payment card to the specified address; the PIN thereof will be the same as that of your previous card.

After receiving the card it will need to be activated within four weeks at an SEB bank's ATM, through the internet bank or calling SEB bank at + 371 26668777. If the card is not activated, it is will be closed.

Services I Interest-free credit limit II Credit line III Fixed payment1
Fee for preparing a card/additional card 2.15 EUR 2.00 EUR 2.00 EUR
Fee for use of the card/additional card (per month)2 2.15 EUR 2.00 EUR 2.00 EUR
Replacing a card/additional card 18.00 EUR
Commission for purchase:
   •  in Latvia Free of charge
   •  abroad Free of charge
Change of the card transaction limit3 10.00 EUR
Cash withdrawal in another bank 1,5%, min 3.56 EUR
Cash withdrawal at ATMs of:
   •  SEB bank 1,5%, min 0.71 EUR
   •  SEB group (Estonia, Lithuania) 1,5%, min 0.71 EUR
   •  in Latvia: Swedbank 1,5%, min 0.71 EUR
   •  other banks 1,5%, min 3.56 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)4 Free of charge
Consideration of a credit limit increase application5 10.00 EUR
Fee for the used credit limit (per year) 0% 21%
(1,75% per month)
24%
(2% per month)
Monthly repayment amount 100% 5% Fixed in compliance with the agreement
Late payment interest (per year) 36% (3% per month)
Contractual penalty (per year) 36% (3% per month)

Others charges and terms related to Mastercard Classic

Transfer from a credit limit 1,5%, min 0.71 EUR
Reviewing a complaint6, 7 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
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 issue8 30.00 EUR
Surcharge on currency exchange when the currency of the card’s main account is not that of the transaction currency9 3%
Calculation period 1 month
Payment period 14 days (starting from the 1st date of the month)

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

The limit of transactions within one calendar month includes purchased and cash withdrawal transactions of 5,000 EUR.

Total cash deposit limit in ATMs with all customer’s cards is 15,000 EUR per month.

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


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

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

3 Includes changes in POS, ATM and monthly spending limits above the standard maximum limit set by Bank.

4 Except increase of the credit limit.

5 The fee is also applicable in cases when the credit limit is not granted.

6 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.

7 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.

8 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.

9 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.

Pricelist

Mastercard Standard credit card

Credit limit repayment

Credit card limit for previous month is automatically repaid on 15th date of the month.

Find out your possibilities in internetbank:

  • get to know repayment amount
  • change repayment date
  • make an early repayment

Find out more

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