MasterCard Business Debit

MasterCard Business Debit is a card suited to your company’s needs, giving you all of the advantages of a credit card without the need to apply for credit! The card also gives you travel insurance that makes your business trips simpler and safe.

Although it is essentially a debit card, you can use the MasterCard Business Debit card for payments where normal debit cards are not accepted like reservations or online payments.

  • The MasterCard Business Debit card has a related card account. You can increase or decrease the available funds on it as you see fit at any time.
  • The card account makes it easy for you to see your transactions and lets you transfer additional funds to the card, increasing your flexibility.
  • As a cardholder of the Nordea MasterCard Business Debit card you get travel insurance that covers medical, luggage and travel failure insurance.
  • Card comes with Contactless payment feature, which make your smaller purchases faster.

What your MasterCard Business Debit gives you

  • The card is accepted in millions of shops around the world.
  • The purchases and transactions conducted with the card use the available funds on the card account, which you can increase or decrease as you see fit by transfer.
  • Travel insurance is an important enhancement that gives business card holders more security on business trips.
  • The card gives you discounts at Hertz Car Rental all over Europe.
  • You can pay with the card in shops and service centres, and get cash from ATMs that accept MasterCard.
  • With the card, cash can be deposited free of charge in Nordea ATMs in Estonia. The cash deposit day limit in ATMs is 20 000 euros.
  • The purchases and transactions conducted with the card use the available funds on the card account. You can increase or decrease the funds on the card account by a normal transfer, which is easy and convenient.
  • There is no limit to the number of card accounts and associated cards. Funds on a card account are used jointly by the card holders if there are multiple cards.
  • A company can specify a limit for each card user, making it easier to keep track of card activity. Employees who are cardholders can use the available balance on the card account.

The Nordea Bank Club programme was set up jointly by the Hertz Car Rental and our bank and gives holders of Nordea Gold and Business credit cards a discount when renting a car anywhere in Europe.

The conditions are set in each individual country and give you up to 20% off the basic car rental price. In Estonia we guarantee you and your company a 20% discount.

What is a contactless transaction?
A contactless transaction means paying for a purchase without inserting your bank card in the payment terminal and inserting the PIN code.

What is a bank card with contactless transaction feature like?
It is a regular bank card with the following distinct symbol

How to activate or deactivate contactless transaction functionality?
Contactless functionality will be activated automatically after first contact transaction in POS terminal or in ATM. To deactivate contactless functionality you need to contact the bank.

When will it be possible to pay by a contactless card in Estonia?
Most Estonian banks will start issuing contactless cards to its customers during 2016.

How to use a contactless card?
In order to perform a contactless transaction, the card must be placed against the terminal. The screen will display additional instructions and information about a successful payment. If the purchase sum exceeds 10 euros, then you must enter your PIN-code, depending on the payment terminal type, it may be necessary to insert the card in the terminal.

Where can I make contactless transactions?
In Europe, there are more than a million payment terminals with contactless transaction capacity. This year, contactless payment support will also be opened in many Estonian shops, restaurants and elsewhere. The goal is to provide contactless transaction capacity in all devices taking card payments by the year 2020.

Are contactless cards secure?
Contactless cards are secured by using chip and PIN technology. In Estonia, up to 10-euro payments can be performed without entering the PIN code.

If I am near a cash register or walk past one, is it possible I unwillingly pay for someone else`s bill?
No. First of all, the card must be closer than 3 centimetres to the payment terminal to perform the transaction. Secondly, the card must be held close to the terminal for longer than half a second. Therefore, performing a transaction basically requires placing the card against the terminal. It is not possible to make an accidental payment by walking by.

If the contactless card is lost or stolen, then does it mean that an unlimited number of payments up to 10 euros can be performed without my knowledge?
Though making a contactless transaction may seem very simple, cards are protected with different security features. After several contactless payments has been made, then the PIN code must be entered again, also the card randomly requires entering the PIN when making purchases. If your contactless card is lost or stolen, then the bank must be informed. If the customer informs the bank of losing the card quickly, then the customer is not liable for misuse of the card. In countries where contactless cards have been adopted, there has not been an increase in card fraud.

Is it possible that I will make a double payment, if I have several bank cards with the contactless transaction functionality?
No, payment terminals do not allow double payments, even if there is more than one contactless card close to it at the same time.
With MasterCard Business Travel Insurance you get:
  • Medical insuranc
  • Luggage insurance
  • Coverage against delay, loss or theft of your luggage
  • Missed departure
  • Travel cancellation insurance
  • Travel interruption insurance
As the cardholder you are the insured person and you can enjoy the insurance cover on your trips abroad of up to three months.

In an insured event:

  • keep all documents related to the insured event and receipts that prove your costs;
  • fill in the claim form when you return home or as soon as you can, attach all the related documents to it and send them by post to the address of the Claims Handling.

Travel Emergency Assistance:
SOS International AS
Copenhagen, Denmark
Tel. +45 7010 5054
Fax +45 7010 5056
E-mail sos@sos.dk
(24 h service)

Local Claims handling & Insurance Assistance:
AIG Europe Limited
Post Office Box 7024
14002 Tallinn, Estonia
Tel. +372 686 7800
E-mail: aig@transcom-estonia.ee
Fax +372 673 7242
(Mon-Fri 9-20, Sat 10-16)

Claim form

Following an insured event fill in the claim form, attach all the related documents to it and send them by post to:

AIG Europe Limited
Post Office Box 7024
14002 Tallinn, Estonia

 

MC Business travel insurance FREQUENTLY ASKED QUESTIONS

Where is the travel insurance valid? Is it valid everywhere in the world?

The insurance is valid everywhere in the world except Estonia or your home country.

Who is insured?

Only the cardholder aged between 16 and 79 is covered by the insurance.

If two family members or a larger group are travelling together and both or all have Nordea Gold and Business or similar credit cards, can the limits of their individual cards be added up if their costs exceed the limit on one card?

Even if you have more than one card that give you travel insurance you can only make a claim once as the insured person, and the limits of individual cards cannot be added up.

What is covered by the insurance if my luggage arrives late at my travel destination or back at home, or if it gets lost completely?

  • If your luggage arrives late at your travel destination it is covered up to the amount insured.
  • If your luggage arrives late at home you cannot claim for it.
  • If your luggage is lost it is covered up to the amount insured.

What is the limit for covering hospital expenses?

75,000 euros

How are the limits set out in the insurance terms and conditions applied?

Unless otherwise provided in the terms and conditions, all indemnities specified in the coverage table (enclosed in the terms and conditions) apply for one insured event and one person.

Who will help me if I have questions about what the travel insurance covers on my trip? Who can I turn to?

If you have questions about your insurance coverage, your insurance policy or similar issues you can contact the Customer Service (Transcom). In an emergency you can contact our emergency service provider SOS, who provides payment guarantees and emergency assistance 24/7 all year round.
Transcom Eesti OÜ
Pärnu mnt 160
11317 Tallinn, Estonia
Tel.: + 372 686 7800
Fax: + 372 673 7242

Is the insurance valid if the cardholder of a Business Debit credit card pays privately for travel and tickets and has no credit card with travel insurance?

The insurance only covers any losses that are suffered by you as the cardholder such as medical assistance, late departure or loss of luggage and personal belongings. However, if the travel costs have been not paid using the card, the costs from the cancellation or interruption of the trip do not come to the company but directly to you as the person who paid for the airfares or the trip. As you are then not the insured person, you cannot claim these costs under the insurance.

MasterCard Business Debit
Annual fee (including travel insurance) 10 €
Annual fee for an additional card (including travel insurance) 10 €
Monthly fee 2 €
Cash withdrawal
From Nordea ATMs in Estonia 2.50 €
  • From other ATMs in Estonia
  • From ATMs abroad
  • From branch office (except branch offices in Estonia)
1.95 € + 2.5% of the transaction value
Cash deposit in Nordea ATM’s in Estonia 1 Free
Other service fees related to bank cards
Expedited order of a bank card / PIN code 35 €
PIN code replacement 1 €
Card replacement 2 €
Card renewal Free
Closing a card Free
A copy of the receipt for a disputed transaction in Estonia or abroad** 6 €
Unjustified reclaim from transaction in Estonia or abroad** 6 €
Blocking a card because of overdue payments 13 €
Penalty for using a closed or blocked card 65 €
Conversion fee for card transactions made in foreign currency 2% of the amount
Balance enquiry from other bank ATM 0.35 €
1 Cash deposit daily limit 20 000 €
** Additional charges from foreign banks may apply if card transactions made abroad are disputed.

Any legal person with a current account in our bank can apply for the card. Cardholder must be either Estonian citizen or resident.

You can read the terms and conditionsPDF of the card here.
Your bank card is your electronic wallet. To make sure that your bank card is secure follow these simple principles:
  • Keep the PIN code of your card to yourself alone and never keep it together with the card. The PIN code is your electronic signature when you confirm transactions, so it is very important to keep it secret.
  • When you pay with your card make sure that it is not taken out of your sight.
  • Do not leave your card unattended.
  • When you enter your PIN code make sure that no one else can see it.
  • If you suspect that your bank card may have been used by an unauthorised person, inform the bank immediately and have your card closed.
If you have lost your card, call the bank immediately on the 24/7 service number 1772* / 628 3300 (+372 628 3300 from abroad) to have it closed and to prevent it from being used any further by an unauthorized person.