MasterCard Business

Whether you do business in Estonia or abroad, the MasterCard Business international credit card is a companion that you can rely on. The card gives you free travel insurance and discounts at car rental services so you can feel safe and at ease when you travel on business.

You can pay with your MasterCard Business card in all shops, service centres and restaurants that have the MasterCard logo. You can also rent a car, book a hotel or get cash from ATMs.

  • The MasterCard Business card is a convenient choice that offers you flexible credit and a long interest-free period of up to 50 days.
  • The MasterCard Business card gives you travel insurance that covers medical, luggage and travel failure insurance.
  • You can rent a car at a discount anywhere in Europe.
  • Card comes with Contactless payment feature, which make your smaller purchases faster.

What your MasterCard Business credit card gives you.

  • A card that is accepted in millions of shops around the world.
  • Flexible and favourable repayment terms.
  • The combined functions of a credit and a debit card.
  • Free travel insurance with extensive coverage.
  • Car rental at a discount anywhere in Europe.
  • The MasterCard Business credit card combines the functions of a debit and a credit card. You can get cash with it from all ATMs in Estonia. The amount that you take out is immediately debited from your current account and is not be deducted from your credit limit.
  • You can use your credit card in places where a debit card is not accepted like car rental or hotels. You can also make payments online with it.
  • You can make all your card payments and transactions abroad within your credit limit.
  • You only need to pay your credit card bill for the month by the 20th of the next month. There is no interest to pay for 50 days.
  • The bill for the previous month is issued on the 10th day of each month. The amount that you have spent on your credit card is debited automatically from your current account.

You can find more information on using your card abroad on the international website of Master Card.

The Nordea Bank Club programme was set up jointly by the Hertz Car Rental and Nordea Bank and gives holders of Nordea Bank Gold and Business credit cards a discount when renting a car anywhere in Europe. You can look at the advantages of the program here.

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 insurance
  • 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 6 867800
E-mail: aig@transcom-estonia.ee
Fax +372 6 737242
(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 Credit Card
Annual fee (including travel insurance) 50 €
Annual fee for an additional card (including travel insurance) 50 €
Changing the credit limit 6 €
Cash withdrawal
  • From Nordea ATMs in Estonia
  • From other ATMs in Estonia
  • From ATMs abroad
  • From branch office (except at Nordea branch offices in Estonia)
1.95 € + 2.5% of the transaction value
Other service fees related to bank cards
Expedited order of a bank card / PIN code 35 €
PIN code replacement 1 €
Card replacement 5 €
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 €
Using MasterCard support service abroad (issuing a temporary replacement card) Actual costs, max 129 €

** Additional charges from foreign banks may apply if card transactions made abroad are disputed.

The card can be applied for by a legal person who has a current account with Nordea Bank. 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* / 6 283 300 (+372 6283300 from abroad) to have it closed and to prevent it from being used any further by an unauthorised person.