OREANDA-NEWS. December 11, 2013. We have made changes in the general terms and conditions, settlement terms and conditions, standing payment order, international debit card, international credit card, credit card with standing payment, Virtual Card, and in the terms and conditions of standing payment order of fund saving.

The changing of SEB’s settlement terms and conditions is related to Estonia switching to the Europe-wide settlement standard. The goal of uniform standards is to support the development of electronic settlements, and SEB supports this development by changing cash transaction terms and conditions and favouring the introduction of payment terminals all over Estonia.

In connection with the switch to the Europe-wide settlement standard, the following shall change as of 1 February 2014:

Account number standard: only the international account number IBAN shall remain in use

Domestic payment shall become European payment (SEPA payment) according to the uniform standard

The direct debit order service is cancelled and switched to the e-bill service

Private persons do not have to take any additional actions – we make the necessary changes for them. For instance, we automatically convert the current account number entered into the Internet Bank in the old format into the new form. In addition, the changeover from direct debit to e-bill is automatic, if the company receiving the payments has decided to do so.

We have made changes to the terms and conditions of other products during the regular review of product terms and conditions.

In addition, as of 1 February 2014, we shall terminate cash transactions in SEB branches with Swiss francs (CHF), Danish kroners (DKK), and British pounds (GBP).