OREANDA-NEWS. November 09, 2011. A number of product and service conditions of SEB will change from the beginning of 2012. The aim of the changes is to update the bank’s products and services. No further action is required from customers as a result of the changes, reported the press-centre of SEB.

The more important changes in the SEB product and service conditions starting from 1 January 2012 are:

SEPA payments: From 1 January, the SEPA (Single Euro Payments Area) payments reach the other EU member state by the following settlement day for the cost of a domestic payment, if the amount of payment is below EUR 50,000. Previously, settlements within EU took up to three days. The change concerns both the private as well as business customers.

Mobile bank and express notification: Starting from the new year, the bank will be entitled to terminate the mobile bank and express notification agreements, if the client’s mobile network contract has ended. The purpose of the change is to guarantee higher degree of safety of the client data and the funds in his account.

Direct debit remitter’s contract: According to the new procedure, amendment of the data in the remitter’s contract will be more flexible. The bank may, based on the beneficiary’s order, change the payment day, account for receiving the funds or the payment ID, specified in the remitter’s contract.

Card transactions: The procedure for making a chargeback has been specified – in case of misuse, the client may dispute the transaction within 13 months, for authorised transactions within 8 weeks.

Internet bank: We have specified the clause, according to which the limits established on Internet bank transactions shall not include internal transfers executed between the client’s own accounts.

Term deposit: Early termination of a term deposit is more flexible starting from 10 January 2012. When up to now, the deposit amount was paid to the client after three business days had passed from early termination of the term deposit, then starting from 10 January, all clients may as a rule receive the sum immediately, however not later than within three business days.

You can read in detail about the changes in the terms and conditions in all SEB branches and on the webpage at www.seb.ee/en/terms-and-conditions.

For more information call the customer support line on 665 5100.