Main changes in terms and conditions

Banking is changing and these changes will give you more options than before. The popularity of mobile banking is growing. Our new app, which will become available soon, allows you to use your mobile phone to pay for purchases at shops. The recently enforced Payment Services Directive makes it possible to create new services, e.g. you can give your consent to companies that are not banks to show the balance of your account in Swedbank. The General Data Protection Regulation gives you more control over the use of your data. Anti-money laundering standards and methods are constantly being updated.

The new terms and conditions will enter into force on 1 June 2018. If you disagree with the new terms and conditions, you have the right to cancel your relationship with the bank or the contract for the specific service by letting us know about this before 1 June 2018. You don’t have to do anything if you agree with the changes.

  1. General Conditions

    • We are clarifying and updating the definitions and terms and conditions of contracts.
    • We made the wording simpler and changed the structure to make the necessary information easier to find and the terms and conditions easier to read.
    • We specified the grounds for the establishment and termination of client relationships.
    • In order to comply with the Know Your Customer principle, we have to request certain data and documents from you.
    • We will give you information at our branches, on our website or in any other manner agreed between us.
    • We will send personal messages via the contact details provided by you (e.g. by post, e-mail, landline phone, mobile phone) or via our Internet Bank.
  2. Current Account

    • We are clarifying and updating the definitions and terms and conditions of contracts.
    • The account can be used to via payment initiation or account information service providers according to your consent and the services they provide.
    • We made the wording simpler and changed the structure to make the necessary information easier to find and the terms and conditions easier to read.
  3. Payment transactions

    • We are clarifying and updating the definitions and terms and conditions of contracts.
    • We made the wording simpler and changed the structure to make the necessary information easier to find and the terms and conditions easier to read.
    • Swedbank no longer performs cross-border payment orders if the payment recipient’s bank is situated in the European Union or the European Economic Area and the payment type being OUR (payer covers all fees). This restriction will affect payments in all currencies.
  4. Usage of debit card

    • The card can be linked to a smart device. In this case, the card becomes digitalised and it is possible to pay for purchases by placing your smart phone over the terminal.
    • If the exact amount of the payment is not known when the payment is authorised (e.g. when buying fuel for a car), the bank has the right to initially reserve a larger amount in your account. The over-reserved amount will be released after the final confirmation of the amount.
    • Maximum excess in case of unauthorized card usage will decrease from 150 euros to 50 euros.
    • A limit of 10,000 euros per month on cash deposited in ATMs will be applied to debit cards.
  5. Usage of the ISIC Mastercard Student Card

    • The card can be linked to a smart device. In this case, the card becomes digitalised and it is possible to pay for purchases by placing your smart phone over the terminal.
    • If the exact amount of the payment is not known when the payment is authorised (e.g. when buying fuel for a car), the bank has the right to initially reserve a larger amount in your account. The over-reserved amount will be released after the final confirmation of the amount.
    • Maximum excess in case of unauthorized card usage will decrease from 150 euros to 50 euros.
    • We renew the ISIC card automatically only for clients in the EHIS (Estonian Education Information System) list.
    • If you have changed schools, you must inform the bank about this, as otherwise we will renew your ISIC card automatically with the previous school’s data.
    • The cardholder must immediately notify the bank when the suspend their studies or graduate.
    • A limit of 10,000 euros per month on cash deposited in ATMs will be applied to debit cards.
  6. Usage of the revolving credit card for private person

    • The card can be linked to a smart device. In this case, the card becomes digitalised and it is possible to pay for purchases by placing your smart phone over the terminal.
    • If the exact amount of the payment is not known when the payment is authorised (e.g. when buying fuel for a car), the bank has the right to initially reserve a larger amount in your account. The over-reserved amount will be released after the final confirmation of the amount.
    • Maximum excess in case of unauthorized card usage will decrease from 150 euros to 50 euros.
    • The additional services offered by third parties are subject to the terms and conditions established by them and the bank is not liable for them.
    • Cash cannot be deposited to credit card limit accounts via ATMs.
    • Conditions were clarified.
  7. Usage of the fixed payment credit card for private person

    • The card can be linked to a smart device. In this case, the card becomes digitalised and it is possible to pay for purchases by placing your smart phone over the terminal.
    • If the exact amount of the payment is not known when the payment is authorised (e.g. when buying fuel for a car), the bank has the right to initially reserve a larger amount in your account. The over-reserved amount will be released after the final confirmation of the amount.
    • Maximum excess in case of unauthorized card usage will decrease from 150 euros to 50 euros.
    • The additional services offered by third parties are subject to the terms and conditions established by them and the bank is not liable for them.
    • Cash cannot be deposited to credit card limit accounts via ATMs.
    • Conditions were clarified.
  8. Usage of the Platinum credit card for private person

    • The card can be linked to a smart device. In this case, the card becomes digitalised and it is possible to pay for purchases by placing your smart phone over the terminal.
    • If the exact amount of the payment is not known when the payment is authorised (e.g. when buying fuel for a car), the bank has the right to initially reserve a larger amount in your account. The over-reserved amount will be released after the final confirmation of the amount.
    • Maximum excess in case of unauthorized card usage will decrease from 150 euros to 50 euros.
    • Cash cannot be deposited to credit card limit accounts via ATMs.
    • Conditions were clarified.
  9. Usage of charge card for private person

    • If the exact amount of the payment is not known when the payment is authorised (e.g. when buying fuel for a car), the bank has the right to initially reserve a larger amount in your account. The over-reserved amount will be released after the final confirmation of the amount.
    • Maximum excess in case of unauthorized card usage will decrease from 150 euros to 50 euros.
    • The additional services offered by third parties are subject to the terms and conditions established by them and the bank is not liable for them.
    • Conditions were clarified.
  10. Principles of processing client data

    • Principles were clarified and updated (effective from 25 May 2018).
  11. Changes in the price list

    • From 09.04.2018 group payments in Euros to Swedbank Latvia, Lithuania, Sweden, Finland, Denmark and Norway will be forwarded on the same date if you submit your payment order to the bank until 5:30 pm
    • From 01.08.2018 a limit of 10,000 euros per month on cash deposited in ATMs will be applied to debit cards and cash cannot be deposited to credit card limit accounts via ATMs.
    • Changes to the price list will be made by the respective dates.