SEB Bank customers will no longer need to provide themselves with cash in advance – they will have a possibility to withdraw cash at any ATM all over the world

SEB Bank will offer private individual customers – service plan subscribers – an additional benefit: a free-of-charge limit for cash withdrawal at any ATM all over the world. The change will come into effect on 8 February 2019.

“We see that our customers are increasingly more active in using payment cards and in paying by them, therefore, seeking to minimise inconvenience for the customers when they may need cash, we will provide them a possibility to have a free-of-charge cash withdrawal limit at any ATM anywhere in the world. Thus, a customer with a debit card linked to a service plan will no longer need to carry cash in the wallet or look for SEB’s ATM – on the rare occasions when a customer may need cash he or she will be able to withdraw cash at any ATM anywhere in the world,” comments Vaidas Žagūnis, member of the management board and Head of Retail Banking Division of SEB Bank.

The change, says the representative of SEB Bank, is the key one related to the bank’s revised price tariffs that will come into effect on 8 February 2019. Today nearly half a million private individual customers of SEB Bank use service plans. Depending on a customer’s chosen plan, the cash withdrawal limit may be in the range of 100 to 1 thousand euro per month, that for the most popular plan SUMANU – 550 euro.

“The change is relevant also for the customers who increasingly tend to travel abroad on business or on vacation – they will no longer need to waste time and exchange currency before the trip. They will always be able to withdraw petty cash in euro or in local currency while staying in any country of the world,” V. Žagūnis notes.

SEB Bank points out that some foreign banks may, in separate cases, apply their additional tariffs for transactions at their ATMs.

Note that SEB Bank customers may withdraw cash free of charge and without any limit at cash counters of Maxima, Iki, Rimi supermarkets and other smaller chains when paying for the goods by SEB Bank payment card, the amount paid being no less than 5 euro. Cash withdrawn at cash counters are not included into one’s monthly cash withdrawal limit, and the service is free of charge for the customer. The amount that can be withdraw per single payment for a purchase is up to 100 euro.

The bank periodically reviews its service tariffs, taking into account how active the customers are in using any particular service, whether any alternatives are offered, etc. The price formation of SEB Bank’s services follows the same pattern as before, i.e. the bank seeks that daily banking services would be the most beneficial and convenient for the customers having subscribed for a service plan they prefer.