OREANDA-NEWS. March 02, 2010. SEB is now offering its corporate clients the opportunity to apply for a Visa Business debit and credit card, reported the press-centre of SEB.

The debit and credit card has no credit limit, which guarantees that the cardholder can only use the funds available in the account without overdrawing on the account. The main advantage of a debit and credit card over an ordinary debit card is that it can be used for reservations when travelling abroad and asked for proof of the bank's confidence in the company.

“We are looking to develop a strong home bank relationship with our clients and offer solutions developed on the basis of the current needs of our corporate clients. This is why we introduced the debit and credit card for corporate clients that can be used to book hotels and rent cars when abroad or for making purchases on the Internet just like a credit card, but the debit and credit card does not have a credit limit, which makes using the card cheaper for the cardholder. We believe that the new card will become popular, especially among small companies for whom the new debit and credit card will be a cheaper solution than a credit card," said Manager of the SEB Retail Banking Division Ene Raja.

Ene Raja added that the trend of using debit cards is on the rise among corporate clients, especially when paying for purchases abroad. “The number of debit card transactions by SEB’s corporate clients in 2009 was twice as much as in 2008 and reached 130,000 in 2009. The number of credit card transactions in the same period remained on the same level as in 2008 or 90,000 transactions per year,” added Raja.

The new debit and credit card can be issued to specific employees of the company and it is possible to establish daily and monthly limits for cash withdrawals and purchases for all users in the Internet Bank.

All settlements are made in Estonian kroons when the card is used abroad, i.e. transactions in foreign currencies are converted into Estonian kroons on the basis of the exchange rate of the Bank of Estonia.

The debit and credit card can be ordered and the contract can be digitally signed in the Corporate Client Internet Bank of SEB. Signatories of companies can also order the card at the bank’s branches.