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Frequently asked questions about the war in Ukraine

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Sanctions

In Russia, Mastercard blocks all the settlements. Therefore, using your Mastercard issued by SEB Bank to settle in physical and online stores, as well as to use ATMs, is not possible in this country.

In Russia, Mastercard blocks all the settlements in physical and online places where POS of sanctioned banks are installed. Therefore, using your Mastercard issued by SEB Bank will be possible only in certain places.

The Council of Europe has decided to disconnect seven Russian Federation banks from the SWIFT system as of 12 March 2022: 

  • Bank Otkritie 
  • Novikombank 
  • Promsvyazbank 
  • Bank Rossiya 
  • Sovcombank 
  • VNESHECONOMBANK (VEB) 
  • VTB BANK 

This means that as of 12 March 2022, payments to and from the banks above will not be executed due to the ban on the exchange of financial data. 
More information on the decision can be found here

From 2022 March 20 The Council of Europe has decided to disconnect three Belarusian banks from the SWIFT system:

  • Belagroprombank  
  • Bank Dabrabyt  
  • Development Bank of the Republic of Belarus  

This means that from 2022 March 20 payment orders to and from the specified Belarusian banks will not be made due to the ban on the exchange of financial payment data.
More information about the solution can be found here.

The information is updated regularly. 

SEB Bank complies with the requirements of international sanctions, including, but not limited to, those of the Republic of Lithuania, the European Union, the United Nations, the United States of America and the United Kingdom. This means that the Bank complies with the sanction requirements of other countries: not only the EU, but also the USA and the UK. SEB Bank does not accept or execute any payments if they are related (directly, indirectly or through intermediaries) to the sanctioned entities or regions. 

The European Union restrictions apply to the products, services and sectors listed in Council Regulation (EU) No 833/2014: 

  • Financial and banking sector
  • Aerospace sector
  • Dual-use goods, as well as goods and technology that could improve Russia's military and technology or develop the defense and security sector
  • Products used in oil refining
  • Marine navigation and technology products
  • Energy and oil sector
  • Iron and steel (ferrous metals) sector
  • Luxury goods
  • Coal and solid fossil fuel products
  • Chemical industry, wood, fertilizers, cement, spirits and alcoholic beverages, seafood and other goods and technologies. 
  • Oil products

Further information on the European Union sanctions against Russia is available here.
In implementing international sanctions, SEB Bank assesses each payment and/or transaction individually, taking into account the existing circumstances and the nature of the sanctions applied.

Please note that Russia is also subject to sectoral sanctions imposed by the United States of America (for more information see here) and the United Kingdom (for more information see also here). 

The information is updated regularly. 
 

The restrictions of the European Union apply to the products and services listed in the Council Regulation 765/2006, which fall under the following sectors: 

  • Telecommunications equipment 
  • Dual-use goods, as well as goods and technology which could contribute to the military and technological strengthening of Belarus, or to the development of its defence and security sector 
  • Tobacco products 
  • Mineral products  
  • Fertilisers 
  • Wood products 
  • Cement products 
  • Iron and steel (ferrous metals) products 
  • Rubber products 
  • Specific machinery referred to in the EU Council Regulation 

More information on European Union sanctions against Belarus can be found here.

Please note that Belarus is also subject to sectoral sanctions imposed by the United States of America (for more information see here) and the United Kingdom (for more information see also here). 

The information is updated regularly. 

Money transfers

For customers who want to donate money to support Ukraine and its people, we recommend making transfers in euros to public institutions that work with Ukraine registered in Lithuania. Please note that the vast majority of the bank’s customers use service plans, so they can transfer money in euros online or via mobile app free of charge to the banks in Lithuania and other European Union (EU) and European Economic Area (EEA) countries, as well as Switzerland, Monaco, Great Britain, San Marine and Andorra, with an exception of urgent transfers.

As of 24 February 2022, international money transfers to Ukraine in any currency are free of charge at SEB Bank. SEB will not charge its fees, however, the recipient’s bank or intermediary banks may charge fees to the payer and / or the recipient. 
Technical implementation of this decision might take some time. If the fees have been deducted, nothing needs to be done.

The fees will be refunded to the payer’s account shortly.

If possible, we recommend making transfers in euros, as this usually ensures that the money will reach the recipient’s account faster.

We recommend supporting organisations that work directly with Ukraine. The Ministry of National Defense of the Republic of Lithuania has compiled a list of organisations that collect support for Ukraine (in Lithuanian; the listed organisations collecting financial support: Public Institution Mėlyna ir geltona, aukok.lt).

As of 24 February 2022, international money transfers to Ukraine in any currency are free of charge at SEB Bank. SEB will not charge its fees, however, the recipient’s bank or intermediary banks may charge fees to the payer and / or the recipient. 

Technical implementation of this decision might take some time. If fees have been deducted, nothing needs to be done. The fees will be refunded to the payer’s account shortly.

If possible, we recommend making transfers in euros, as this usually ensures that the money will reach the recipient’s account faster.

On 15 May, 2022, we suspended financial transaction services, including payments, to and from Russia and Belarus in all currencies. We have made this decision due to risks related to the war in Ukraine, and an increasing number of sanctions imposed on Russia and Belarus, some of their citizens and business entities.

Depending on the nature of the sanctions that the correspondent bank complies with, the funds may either be returned to the sender or frozen. In this case, you cannot influence the decision of the correspondent bank, therefore, no further action is required. 

No. SEB Bank charges fees for the services it provides. When making a payment, we cannot guarantee that the sender will not be reimbursed by the beneficiary’s bank or correspondent bank for certain reasons. We recommend you to make sure that the recipient and / or the bank of the recipient is not subject to sanctions, before making a payment. 

The sanctions against Russia and Belarus imposed by the European Union and the United States of America, which have been continuously renewed, have led to an increased monitoring of cross-border payments to these countries. Please note that these restrictions may result in longer than usual delays in payment processing. 
In order to ensure that payments run smoothly, we recommend: 

  • responsibly assess the significance of the sanctions before working or continuing to work with business partners that provide services to clients and conduct transactions involving Russia, Belarus and Ukraine 
  • be prepared to provide supporting documents and information on the payment if requested 
  • provide full address of the payee in Russia, Belarus or Ukraine (country, city, street) 
  • provide complete and accurate information in the bank payment instructions. For example, when making payments against an invoice, include not only the invoice number, but also the final recipient of the goods or other relevant information 

Please be reminded that on 15 May, 2022, we suspended financial transaction services, including payments, to and from Russia and Belarus in all currencies. We have made this decision due to risks related to the war in Ukraine, and an increasing number of sanctions imposed on Russia and Belarus, some of their citizens and business entities.

Since the outbreak of the war in Ukraine, we have noticed an increase in the number of individuals collecting donations for Ukraine to their personal accounts, mostly by posting information on social media. 

Unfortunately, at the same time, we have also seen an increase in scams, where fraudsters claim to be raising funds for Ukraine, but the money does not go to the real cause. 

Please note that if you are collecting donations for the Ukrainians on your personal account and the bank notices unusual payments to your account, the bank may temporarily block your account and ask you for additional information to verify the purpose of your collection. 
If you decide to collect donations for Ukraine to your personal account, please be aware that the bank may ask additional questions and will assess each case on an individual basis, for preventive purposes and to avoid possible fraud. 

Personal accounts should be held for personal use, therefore, if you plan to collect donations, we recommend you to open a separate account for transparency to your donors and set up a dedicated public body with beneficiary status. 

Services for citizens of Ukraine

If you are a Ukrainian citizen who has left the country due to war, we will open an SEB account for you free of charge, without any fee for the service plan Sumanu.
The service plan Sumanu will provide you with the necessary daily banking services:

  • Unlimited online payments in euros
  • Cash withdrawal up to EUR 550 per month (at SEB and at other Lithuanian and foreign bank ATMs) by a debit card
  • Debit card without usage fee
  • Fee for issuing a digipass will not be applied

Please register for a visit to a SEB Bank branch online (form in English) or by phone +370 5 268 2800 (I–V 8.00–20.00).
 

Yes, we open accounts for the under-aged. In order to open an account, we will ask you to provide the same documents as for under-aged Lithuanians: identity documents of the parents / guardians, as well as the child's birth certificate. More information here.

A Ukrainian refugee, a citizen of the Republic of Ukraine who has fled the war zone must present a valid identity document. Further information on documents issued in Ukraine. 

The person applying for opening an account must be registered with the Migration Department and, in addition to his/her passport, provide proof of registration with the Migration Department, i.e. the Migration Department Registration Card (sample card). These cards indicate the date of the application for a temporary residence permit on humanitarian grounds. Instead of this card, if available, the person may present the Alien Registration Certificate issued by the Migration Department or, if this certificate has not yet been issued, the Certificate on the Asylum Application.  

The person should also present a temporary residence permit for the Republic of Lithuania, if he/she has one.
 

Saving and investment

Military conflicts increase uncertainty in financial markets, so the volatility of financial instrument prices in such situations may be higher than usual.  

It is worth to remember that securities portfolios and investment funds that are invested broadly in different financial instruments, sectors or globally allow you to reduce the risks of an individual region or country.  

In a period of increased volatility in securities prices, it is also worth assessing whether the real risk tolerance is in line with what was identified at the start of the investment, and whether the financial targets set are still relevant. If nothing has changed, it is advisable not to take any hasty decisions, and to adhere to the long-term investment plan. If something has changed, you might want to review the securities portfolio so that it is in line with new targets and risk tolerance. 

Cash

You can withdraw cash:

  • at any time and on equal terms from SEB and other Lithuanian or foreign ATMs. Look for an ATM 
  • at supermarkets: Senukai, Rimi, Iki, Maxima, Express Market, Solo, Vynoteka, Emsi, Gulbelė, PROMO Cash&Carry, Grūstė, Abromika, and other stores that advertise cash withdrawal services 
  • at Perlas Finance terminals 

The ATM can withdraw up to 20 banknotes per operation.

For example, if there are only Eur 10 and Eur 50 banknotes left in the ATM (you will see this information on the screen), the amount you need will only be issued in these banknotes. Therefore, when thinking about the amount you need, we recommend taking into account the denomination of the banknotes available at the ATM.

If the amount of money you receive in one operation is not enough, we recommend making multiple withdrawals. For example, to withdraw Eur 500, perform three operations, withdrawing Eur 200, Eur 200 and Eur 100.

Private
If you have a service plan, withdrawing cash from SEB or other Lithuanian or foreign banks ATMs is free of charge with any debit card – a common limit applies to all debit cards owned. If you exceed the limit, usual charges apply. 

Withdrawing cash from SEB or other Lithuanian or foreign banks ATMs costs 0.8 per cent (no less than Eur 1) of the amount withdrawn.  

For withdrawals at cash desks at other Lithuanian and foreign banks, a 2 % charge (no less than Eur 5.79) of the amount withdrawn. 

 

Business
Cash withdrawal from SEB or other Lithuanian and foreign ATMs costs 2 per cent  on the amount being withdrawn (but not less than EUR 3).  

The fee at the rate of 2 per cent on the amount being withdrawn (but not less than EUR 5.79)  is charged for cash withdrawals from other Lithuanian and foreign banks’ cash offices. 
 

Private
A standard daily limit for withdrawing money with a debit card is Eur 2,000 (limits for credit cards vary depending on the type of card). 

Withdrawing cash from SEB or other Lithuanian or foreign bank ATMs costs 0.8 % (but no less than Eur 1) of the amount withdrawn.  

If you have a service plan, withdrawing cash from SEB or other Lithuanian or foreign banks ATMs is free of charge with any debit card – a blanket limit applies to all available debit cards. If you exceed the limit, normal charges apply. 

You can view and change your cash withdrawal limits: 

  • on the mobile app (select "Cards" → "Settings and limits") 
  • via online banking (select "Accounts and cards" → "My cards" → "Change data") 
  • by calling SEB Bank at +370 5 268 2800 (I-V 8.00-20.00) 

 

Business
The standard daily limit for cashing out with a debit card is EUR 2,000 (credit card limits vary depending on the type of card). 
Cash withdrawal from SEB or other Lithuanian and foreign ATMs costs 2 per on the amount being withdrawn cent (but not less than EUR 3).  

You can check and change the cash withdrawal limits: 

  • at the Internet bank (by selecting Accounts and cards → Payment cards → Change data) 
  • by calling SEB bankas by phone: +370 5 268 2822 (I–V 8:00–17:00)  

Other

The Scandinavian and Baltic countries are the home markets of SEB Group, which means that the bank is focusing on customers in these countries. The Bank and its services are independent of the Russian and Ukrainian markets as a source of revenue or of customers from these countries.  

The war between Russia and Ukraine does not directly affect SEB Bank’s operations in the Baltic and Scandinavian countries. SEB Bank maintains high capital adequacy and liquidity ratios, and it continues to ensure security of the assets of its customers and provide services as usual.