Amendments to some terms of the General Service Rules of AB SEB bankas

Dear Customers,

We would like to inform that the General Service Rules (hereinafter referred to as the Rules) of AB SEB bankas will be amended.

To familiarise with the amendments to the Rules that come into effect from 1 November 2015 click on the link , and to familiarise with the amendments that come into effect from 1 January 2016, click on the link . All recent amendments to the Rules are highlighted with different colour.

The amendments that come into effect from 1 November 2015:

• from 1 January 2016, Lithuania will join the Single Euro Payments Area (SEPA), therefore the money transactions in the euros will be performed in compliance with the new requirements. Due to the above reason, our direct debit service from 1 January 2016 will be terminated – it will be replaced by the electronic invoice forwarding and payment service (hereinafter referred to as the e-invoice). A transitional period when the direct debit service will be replaced by the e-invoice service will start from 1 November and will end on 31 December 2015. The payer will not be required to pay any fee for e-invoice receipt and any fee will not be applied for the automated e-invoice payment. A detailed description of this amendment to the Rules is available in Annex 5 “E-invoice Forwarding and Payment Rules“ and in Item 3.22 of Annex 1 “Payment Services and Bank Account Handling Rules“. More information about the e-invoices is available on website www.seb.lt/elektronine-saskaita.
• based on a decision of the Board of the Bank of Lithuania, starting from 1 November 2015, the new requirements for the security of internet payments will be applied.. To implement the above requirements, from 1 November 2015, customers of AB SEB bankas receiving the new or renewed payment cards will be able to execute internet payments only subject to prior activation of the card internet payment functionality. Our customers may do that on a 24-hour basis by phone 1528 (for private individuals) (from abroad +370 5 268 2800) or by visiting any unit of AB SEB bankas. The above amendments are described in Item 3.10 of Annex 2 "Payment Card Issuance and Usage Rules".
• Rules are supplemented with new Chapter 102 “Service Agreement execution by using communication devices“. Taking into consideration an increasing demand of our customers for handling their financial matters via electronic channels (via the Internet, by phone), the above-mentioned Chapter includes a brief description of the procedure for concluding the service agreements via electronic communication devices and the main rights of users.
• due to the new requirements established in the acts of law, the Rules were supplemented with the provisions concerning data collection and data disclosure to competent institutions (Item 9.6, Section 14).

The amendments that come into effect from 1 January 2016:

• whereas AB SEB bankas no longer issues the payment cards linked to accounts denominated in the US dollars, therefore such previously issued bank cards become invalid; a description of the currency conversion procedure (Item 5.2, Annex 2) when the card account is handled in the US dollars has been excluded from the Rules and from the Bank Service Charges. Besides, amendments were made to the “Procedure for the automatic currency conversion of card payments“ included in Section 5 of Annex 2 to the Rules and specified in the Bank Service Charges and available on AB SEB bankas’ website www.seb.lt.

We would like to remind that in case of your disagreement with the amendments to the Rules, you have a right to terminate the General Agreement by giving at least 30 (thirty) days’ notice to the bank, as established in Item 13.4 of the Payment Services and Bank Account Handling Rules (Annex 1 to the General Service Rules of AB SEB bankas).

We kindly invite to familiarise with the above-mentioned amendments to the Rules.

Respectfully,
AB SEB bankas