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PrivateBusiness

Business Credit Card

New design!

Extra funds for the company's day-to-day purchases and unexpected payments

  • Transfers via Internet Banking and mobile app directly from the credit card account.
  • Paying for goods and services, including at online stores.
  • Cash deposits into company’s account via Swedbank ATMs all across Latvia.
  • Cash withdrawals from ATMs worldwide.
Good value! Apply by 31.12.2020 and get a discount on the credit card issuance and monthly fee for the first 3 months of using the card.
A card for company’s daily transactions
  • Credit limit from 300 to 15 000 EUR (depending on the company’s turnover and credit history).
  • Interest-free period of up to 30 days for purchases (from the time of purchase until the 1st date of the following month).
  • The interest-free period does not apply to transfers and cash withdrawals. If credit limit is used, interest starts to accrue immediately after performing the transaction.
  • The company is free to add its own funds to the card account at any time.
  • Paying in online stores. This requires the card to registered for secure internet shopping.

Register the card for Internet shopping

As a precondition to applying for the card, the corporate customer must have been carrying out business activities for at least six months.

Managing card user rights and limits
  • Cards for several users can be linked to one account for using one credit limit.
  • New cards are issued with the default limits.
  • Individual usage limits and user rights can be set up for the card after it’s issued (e.g. permit or not permit payments with the card, cash withdrawals/deposits, account balance checking).
  • Limits and rights on the Business Internet Banking site and the mobile app can be modified:

    • In Internet Banking – by users with full-access rights mode or by a legal representative who has the right to represent the company singly according to the Register of Enterprises regardless of the access rights mode.
    • In mobile app – by legal representatives who have the right to represent the company singly according to the Register of Enterprises.
Contactless payments
  • Paying for purchases of up to 50 EUR without PIN entry, by simply hovering the card over the terminal.
    Also available abroad. Applicable limits on the amount may differ from country to country.
  • The contactless payment feature may be disabled and enabled at any time via Business Internet Banking or the mobile app. The changes take effect after making one payment with PIN entry.

Learn more

  • The card can be applied for on the Business Internet Banking site or at any Swedbank branch by filling out the financing application.
  • In the application, please specify the preferred credit limit and card holder details.
  • Additional documents may be requested when the financing application is reviewed (such as the company’s latest annual report if not filed with the Register of Enterprises; balance sheet and profit and loss statement not older than 12 months).
  • In case of a positive financing decision, the card will be produced and delivered to your selected branch within 5-10 business days.
  • The card agreement may be signed at branch and the credit card may be collected by the company’s authorized signatory. Before issuance, the card will be activated by a branch employee.
Product/Service Price, EUR
Visa Business credit card Visa Business Gold credit card
Ordering and issuance
New or replaced card Also in cases when the card is lost, stolen, or damaged. Automated fee upon card activation. 6,00 10,00
Renewed card Issuance of the new card after validity period of previous card was expired is free of charge. Free of charge Free of charge
Urgently produced card 41,00 45,00 Expedited card production and delivery can be ordered at a branch or by calling the Phonebank's number on 67 444 444. Ordering card on working days till 13:30, production and delivery of card to branches 'Ķīpsala' (Riga, Balasta dambis 15) and 'Spice' (Rīga, Jaunmoku street 13 (t/c 'Spice Home')) within 4 business hours. Card delivery to branches outside of Riga next business day.
Using
Monthly fee 4,00 10,00 The card's monthly fee will be automaticaly debited from account in the begin of every month.
Card purchases in Latvia and abroad Free of charge Free of charge
Zero-interest period Until following month's 1st date Until following month's 10th date Interest-free period applicable only to card purchases, not cash withdrawals and transfers.
Currency exchange markup 2,95% 2,95% The fee is charged if the transaction is made in a currency other than the card currency. Information on current Exchange Rates available on International Card Organization websites www.mastercard.com and www.visaeurope.com
Funds transfer from credit card limit account See Payments See Payments Equal to payments from current account
Cash operations See Cash transactions via ATMs and Retail outlets See Cash transactions via ATMs and Retail outlets
Annual rate of interest on amount spent 18% 14% Rate will be applied taking into account the zero-interest period for purchases.
Exceeding the credit limit and using credit limit not repaid on time 60% of the amount exceeded annually 60% of the amount exceeded annually
Travel Insurance -- Free of charge Travel insurance is offered to Business Gold credit cards. The insured risks.
Priority Pass Priority Pass card is offered together with the Business Gold credit card (issued before 24.09.2020.) and for a separate charge gives access to more than 900 special lounges at airports worldwide. Each lounge visit is billed in EUR.
The bank causes the payment for use of the Priority Pass to be made by debiting the necessary funds from the customer’s Swedbank account linked to their credit card. The bank does not deal with any claims regarding the Priority Pass service and customer must lodge any such complaints directly to Priority Pass Ltd. Find out more on www.prioritypass.com
- Membership fee -- Free of charge
- Lounge visit (per person) -- 28,00 Fee for one, single visit.
Lounge Key (from 24.09.2020) Lounge Key is offered together with the Business Gold credit card (issued starting from 24.09.2020.) and for a separate charge unlocks access to special lounges at over 1000 airports worldwide. Find out more on LoungeKey.com or the mobile app. Each lounge visit is billed in EUR. The bank causes the payment for use of the Lounge Key to be made by debiting the necessary funds from the customer’s Swedbank credit card account. The bank does not deal with any claims regarding the Lounge Key service and customer must lodge any such complaints directly to Lounge Key Ltd. Find out more on Lounge Key Ltd.
- Membership fee -- Free of charge
- Lounge visit (per person) -- 28,00 Also available for a person visiting the lounge together with the Business Gold credit card holder. The list of airport lounges included in the LoungeKey programme is available on the website www.loungekey.com
Changes in Card Agreement (incl. change in limits, permitted services, card delivery method) Easier via Internet Banking 6,00 6,00 Exception - change in card servicing account and granted credit limit at a branch is free of charge.
Card claim processing Free of charge Free of charge If processing of the claim involves obtaining documentary proof of transactions, then a fee will be charged to the amount of the actual cost of the service.
Checking the account balance:
- In ATMs of Swedbank in Latvia Free of charge Free of charge
- In other banks' cash machines in Latvia and worldwide 0,40 0,40
Printout of last 5 card transactions at Swedbank ATMs in Latvia 0,20 0,20
Changing and unblocking the card's PIN in Swedbank ATMs in Latvia Free of charge Free of charge In case of entering PIN incorrectly three consecutive times in a POS terminal.
Closing
Closing the card Free of charge Free of charge

Default card limits

Limits, EUR
Visa Business credit card Visa Business Gold credit card
Purchases 1400 1400
For cash withdrawals 1400 1400
For cash deposits 15000 15000

Effective from 01.08.2018.

Terms of usage of Cards for business

Repayment of outstanding credit limit
  • Information about transactions and the amount of outstanding credit limit is available in the credit card account statement in the company’s Internet Banking user profile.
  • The entire outstanding credit limit (as used on purchases, transfers and cash transactions) is automatically transferred on the 1st date of each month from the current account linked to the credit card.
  • If the current account lacks sufficient funds for automatic repayment of the credit limit amount, partial repayment of the amount will not take place and interest will start to accrue also for purchases for which the interest-free period has ended.
  • The company is free to repay the outstanding credit limit on its own at any time and thereby stop accrual of interest.
  • On the 1st date of each month, concurrently with automatic repayment of the credit limit, the current account linked to the credit card is also debited for:

    • Monthly fee for use of the credit card.
    • Interest for use of the credit limit.
Card suspension
  • If necessary, the card can be closed immediately or suspended temporarily on the Business Internet Banking site or the mobile app. A suspended card can be re-activated within 10 days via Business Internet Banking or the mobile app, as well as by presenting the card and an identity document (passport or eID) at any Swedbank branch.
  • If the suspended card is not re-activated within 10 days, it will automatically be closed.
  • If a payment card is stolen, it must be closed immediately. This can be done on the Business Internet Banking site, in the mobile app, by sending a message to the bank or by contacting the bank by phone on 67 444 444.
  • If the card is lost or stolen abroad and it’s not possible to get in touch the bank, then the card can be suspended by calling the VISA card 24h international assistance line on +1 410 581 9994.
PIN
  • For a new card, the PIN is issued in a separate envelope upon collecting the card at branch.
  • For renewed cards, the PIN remains the same.
  • If you wish to change the existing PIN, this can be done in Swedbank ATMs in Latvia by choosing the option “Other operations” > “PIN change”.
  • For security reasons, PIN may be entered incorrectly only twice. After the third time, the card will automatically be blocked:

    • If the card is blocked in POS terminal, it may be unblocked in Swedbank ATMs by entering correct PIN at first attempt.
    • If the card gets blocked in ATM or you can’t remember the PIN, a new card must be ordered.
Card transaction disputing
  • Card transactions can be disputed by sending a message to the bank on the Business Internet Banking site, by contacting the bank by phone on 67 444 444, or by visiting the nearest branch if:

    • You discover transactions in the account statement that you haven’t agreed on with the merchant or service provider;
    • ATM cash deposit or withdrawal has been unsuccessful.

For example, if the ATM fails to dispense cash during withdrawal operation but the amount in question has been debited or if the amount deposited is not added to the account.

Your company's financial security is one of Swedbank's top priorities. We encourage you to be responsible users of payment cards and to observe the security conditions for payment cards usage.

  • Only the cardholder - the person whose name appears on the card - may use the card. Do not let anyone, even a close person, to use the card issued in another person’s name.
  • Make sure that you as a cardholder always know where your payment card is.
  • If you pay by card, do not let the person serving you take it to a back room on their own because card data may be stolen.
  • Always check the transaction amount that you approve with the card.
  • Check card transactions regularly via Business Internet Banking or the Swedbank mobile app. If any transaction seems suspicious, please contact the bank immediately.
  • It is not recommended to send card number by post or disclose it over the telephone when making a purchase because card data may be misused for fraudulent transactions but, if there are no other options, please be extra careful.
  • Be careful when using the ATMs of other banks. Some ATMs return payment card before dispensing the money. Make sure that you collect your payment card and the requested amount of cash before you leave the ATM.
  • When a cardholder gets a new card, they will also receive a PIN that is known only to them. Renewed cards will keep their former PIN.
  • Do not tell or show the PIN to anyone, not even to bank employees.
  • Memorise it, do not write down the PIN on the card or anywhere else where it can be seen by others.
  • For payment approval, try to enter the PIN so that no one else can see it. The card can be stolen and be used by somebody else. If the card with PIN code is used by a thief, it is the customer’s own responsibility.
  • If you suspect that the PIN has become known to someone else or if the bank has notified you of the need to change your PIN, the cardholder must change it immediately. It can be done at any Swedbank ATM. When selecting new PIN, do not re-use your old PIN.
  • Do not use identical PIN codes for different cards for the ease of memorising them.
  • If a payment card is lost or stolen, it must be closed immediately. This can be done on the Business Internet Banking site or the mobile app, by sending a message to the bank or by contacting the bank by phone on 67 444 444. For security reasons, we advise cardholders to keep Swedbank's phone number in their phone's memory.
  • If the card is lost or stolen abroad and it’s not possible to get in touch the bank, then the card can be suspended by calling the MasterCard 24h international assistance line on +1 636 722 7111 (charged) or VISA card 24h international assistance line on +1 410 581 9994 (charged).

Information about possible risks
Failure to fulfil your financial commitments in full increases the cost of the financing you receive and may have an adverse impact on your credit history. Furthermore, if the contract is terminated due to a serious breach on your part, compulsory recovery of the debt may be undertaken and you could lose ownership of the mortgaged property.

For day-to-day purchases and transfers.

In addition to the Business Credit Card features, includes travel insurance for the card holder and 3 of their colleagues.

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