Price list changes

Swedbank General Terms and Conditions

We have updated the wording and introduced changes due to amendments in the Law of Obligations Act concerning the regulation of basic payment services: we clarified the chapter on concluding agreements in the section describing the Bank’s rights and obligations upon entering into an agreement.

• The wording describing the criteria for connection with Estonia for both natural and legal persons will be amended.
• Certain criteria for connection with Estonia, which individually do not constitute a sufficient connection for concluding an agreement, will be removed: for natural persons: owning real estate in Estonia; for legal persons: holding investments in real estate or holding units in the Estonian Central Register of Securities.
• A requirement will be added whereby the Bank has the right to demand that the client prove their legitimate interest and/or connection with Estonia, including the legal right to reside in the European Union.

Terms and Conditions of the Current Account Agreement

We have updated the information concerning the use and storage of authentication means. Additionally, for the purpose of fraud prevention, the Bank will henceforth have the right to verify whether the client has granted consent and expressed the will to execute a transaction.To this end, we may apply security measures or request additional confirmations for the transaction.

Consequently, we have amended certain points:

• clauses 6.1, 6.3, and 6.4: if the Bank conducts checks and investigations due to suspicion of fraud, the payment is deemed received only after their completion;
• clause 8.3: we supplemented the section on the exclusion of the Bank’s liability concerning payment delays caused by fraud prevention checks and investigations;
• security of login details: we added a point emphasising that Internet Bank security credentials must be kept confidential and must not be shared with anyone.If you suspect unauthorised use of your data, please notify us immediately.

Terms and Conditions for Debit Card and ISIC Mastercard Student Card

We added a definition of ‘reservation’ to clause 5.This clarifies that funds under reservation have already been transferred to the recipient and the Bank cannot reverse the transaction.

• The monthly fee collection date for service plan will change. Starting from September, the monthly fee for the previous calendar month will be debited on the 2nd day of the month (currently on the 15th).
• As of August 27, the default interest rate of 0.2% per day will no longer be applied to accounts.