Terms of Customer Program
1. Contents of the customer program
1.1. The customer program of Nordea Bank Finland Plc Estonia Branch (hereinafter the “bank”) is a system of
benefits offered to private customers and their family members actively using the services of the bank.
1.2. Customers and their family members subscribed to the customer program are divided into bronze, silver and gold customers
depending on their usage volume of the bank’s services.
2. Applicable benefits
2.1. The following discounts are granted to silver and gold customers on everyday bank services[1] (see notes at the end of the document):
- to silver customers 25 % discount from standard prices
- to gold customers 50 % discount from standard prices
2.2. Cash withdrawal from ATMs in Estonia is free of charge:
- to silver customers for 3 times a month
- to gold customers for 4 times a month
2.3. In addition to the above, the bank shall also provide silver and gold customer discounts specified in the bank’s
price list (e.g. higher deposit interest rates).
2.4. In addition to other benefits of the particular customer group, the underage children of silver and gold customers are provided
the following services free of charge:
- internet bank services
- issue and use of debit card
2.5. To find appropriate financial solutions, the bank shall assign a personal consultant for each gold customer.
3. Qualifying as silver or gold customer
3.1. The silver customer benefits are granted to a customer who has, or whose family members have:
- an active current account[2]
- deposits or loans in the amount of at least 70 000 kroons[3]
- three different banking, leasing or insurance products[4]
3.2. The gold customer benefits are granted to a customer who has, or whose family members have:
- an active current account2
- deposits or loans in the amount of at least 350 000 kroons[3]
- five different banking, leasing or insurance products[4]
3.3. The benefits are granted if the data of the last 2‑month period correspond to the above conditions (except for the
active current account requirement, which is based on the data of the last 3‑month period).
3.4. If a customer or his/her family member subscribed to the customer program is over 60 years of age, the silver or gold customer
benefits are applied to them provided that the deposit and loan volume-related requirement is fulfilled only.
4. Subscription to the customer program
4.1. Customers may subscribe to the customer program individually, or as a family.
4.2. A customer must be at least 18 years of age to subscribe to the customer program as an individual. Family subscriptions can be
made by
(i) two married or cohabiting adults, or
(ii) two married or cohabiting adults and their underage children, or
(iii) one adult and his/her underage children.
4.3. To subscribe to the customer program as a family, the adult family members joining with the program have to submit a written
application to that effect at the bank’s office or service centre. Individual subscriptions can be made also by submitting an application
via the internet bank mailbox or the telephone bank.
4.4. Upon family subscriptions, one of the adult family members shall be appointed as the family’s contact person to whom
the bank shall send communication related to the customer program, as well as the bank’s promotional materials and the like.
4.5. Customers and their family members subscribed to the customer program are initially granted a bronze customer status, unless
the number and volume of services used by them corresponds, upon subscription to the program, to the requirements established for silver or gold
customers, in which case the customer and his/her family members are immediately granted respectively a silver or gold customer status.
4.6. The customer shall, upon attaining 18 years of age, be excluded from the family package. Such customer may use
Check‑in package or, alternatively, re-subscribe to the customer program on the above terms and conditions.
5. Customer group reassignment
5.1. The bank keeps record of the deposit and loan volumes as well as usage of other services of the bank by customers subscribed
to the customer program.
5.2. If the usage volume of the bank’s services by the customer and his/her family exceeds the benchmarks established by
the customer program, the customer and his/her family members will be transferred to the silver or gold customer group respectively
(“upgrading”). The upgrading is effected, based on the data of the last 2‑month period, from the 15th date
of the month following such 2‑month period[5].
The bank shall inform the customer or the family’s contact person of the upgrading.
5.3. If the usage volume of the bank’s services by the customer and his/her family decreases below the benchmarks of their
current customer group, the customer and his/her family members will be transferred to the silver or bronze customer group respectively
(“downgrading”). The downgrading takes place, if the usage volume of the bank’s services has remained below the
relevant benchmarks during six consecutive months. In such case the downgrading is effected as of the 1st date of the month following such
6‑month period. The downgrading will not be effected, if the customer fulfils the requirements of his/her current customer group in at
least one month within this six‑month period.[6]
The bank shall inform the customer or the family’s contact person of the downgrading. In addition, the bank shall send a notice on the
possible downgrading at least three months in advance, if the usage volume of the bank’s services by the customer and his/her family has
been lower than the benchmarks of their current customer group for two consecutive months.
6. Check-in package
6.1. 18-26-year-old customers are granted the option of subscribing to the Check-in package, if the customer holds a
current account in the bank, and is an internet bank user.
6.2. The subscription application can be filed at the bank’s offices and service centres, as well as via the internet bank
mailbox and the telephone bank.
6.3. The benefits of the Check-in package are automatically applied to customers excluded from the family package under
clause 4.6. and fulfilling the conditions set forth in clause 6.1.
6.4. A 25 % discount from the standard prices of everyday bank services is applied to Check‑in package
members.[1] The members are also
granted current account and Savings Account interest rates equalling to those applicable to silver customers, as well as the opportunity to withdraw
cash from ATMs in Estonia free of charge for 3 times a month.
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Notes | |
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[1] The services on which discounts are granted have been marked accordingly in the bank’s price list. [2] An active current account is a current account with the turnover (total of incoming and outgoing payments) of the last 3‑month period amounting to at least 500 euros or its equivalent in any other currency. The requirement of an active current account is also considered fulfilled if the total turnover of the current accounts of all family members in the last 3‑month period amounts to at least 500 euros or its equivalent in any other currency. [3] To determine the total amount of the
deposits and loans, the bank shall proceed from: [4] The number of banking, leasing and
insurance products used is ascertained at the end of month. The following products are accounted for: [5] Example: If a bronze or silver customer has in July and August fulfilled the gold customer terms, he/she will be upgraded to a gold customer from September 15. [6] Example: If a gold customer fails to fulfil the gold customer terms from July onwards, the customer will be downgraded to silver or bronze customer on January 1, based on the data of the last two months. However, if the same customer fulfils the gold customer terms again in, for instance, December, he/she will preserve the gold customer status, and calculation of the six‑month period is cancelled. Calculation of a new six-month period shall start from the first month in which the customer again fails to fulfil the gold customer terms. |
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