Danske Bank closes down its banking activities in the Baltics and in Russia
In February 2019 Danske Bank Group took the decision to close down the banking activities in Lithuania, Latvia and Estonia.
These changes will affect all customers of Danske Bank Lithuania, Latvia and Estonia.
You can read more about this change in Danske Bank’s stock announcement HERE.
We will continue servicing as usual until further arrangements are in place
The duration of the close down period will be individual for each market, however, we expect all our banking activities in the Baltics to be terminated within the next 12 months.
How does this affect your customer relationship?
Nordic customers and global corporates with a significant Nordic footprint
Closing down implies that we will no longer be able to enter into new financial arrangements with you in Lithuania, Latvia or Estonia. We will continue to meet any of our obligations in the sense that existing day-to-day business products will continue to be supported until further notice.
Local business and private banking customers
In the last months we have been in contact with you regarding termination of contracts and agreements with Danske Bank. Yesterday’s announcement does not change the course or the content of it. Please be reassured that we will fulfil all our obligations that we have to you as our customer and we will pursue our previous agreements with you.
You will be informed well in advance
Frequently asked questions
Transfer and termination services
Terminating daily banking services
Daily banking services in Danske Bank can be terminated either by service or when closing the current account. If you wish to transfer your payments and terminate service agreements gradually, the most convenient way to do so is by submitting an application (in free format) in the Danske eBank.
So you can send us applications for terminating debit cards and payment package agreements.
Before closing the account you can print out or download account statements for the last three years from the Danske eBank.
If you wish to terminate an existing service agreement with Danske Bank, you can apply to close your current account:
- You may terminate an existing account agreement and related contracts earlier by applying to Danske eBank (Services -> Ordering a Service -> Other Services -> Request for Termination of a Bank Account Agreement);
- You can schedulle an appointmet with one of our relationship managers at Danske Bank (Saltoniskiu 2, Vilnius) by calling 1636.
What should you know?
- If there any funds remain in your bank account after the termination of the Agreement, you will have to submit an application to the Bank (Saltoniškių 2, Vilnius) to transfer the remaining funds.
- All payments to your Danske Bank account after the closing of account will be returned to the payer.
- We recommend that other institutions make payments to your account-based institutions or individuals with your new account opened with another payment service provider.
Corporate loans, trade finance, leasing and collateral
Danske Bank does not issue new loans, leases or trade finance products.
Credit agreements already entered into remain valid under the agreed conditions.
Granted, yet not disbursed loans will be issued as forseen in the credit agreement.
For all issues related to credit agreements, please contact your customer relationship manager or call 1636.
Termination of e-invoice forwarding agreement
If you are ready to transfer E-invoice receiving and, if desired, their automatic payment to another payment service provider, you must provide your E-service provider (e.g. electricity supply company) with a new E-invoice order. You can do this on your new payment service provider's website, customer service department, or directly at the service provider (e.g. electricity supply company). After receiving a new E-invoice order, the service provider will begin forwarding your E-invoices to your new payment service provider (and will stop sending them to Danske Bank).
Termination of the Standing orders service
If you would like to continue using the Standing orders service going forward, we recommend that you conclude an agreement regarding such service with another payment services provider.
Credit servicing account (applies for local business and private banking customers)
In the last months we have been in contact with all local business and private customers regarding termination of contracts and agreements with Danske Bank. Danske Bank’s decision to close down banking operations in the Baltic countries does not change the course or the content of what we communicated to you earlier.
Please be reassured that we will fulfil all our obligations that we have to you as our customer and which are in line with our previously communicated information to you. We will immediately inform you in case of any changes that are related to the servicing of your credit.
If your account in Danske Bank has been closed or it will be closed during the next couple of months, and if you have a valid credit agreement, you should transfer all your payments to the special Credit servicing account.
What should you know?
- If your credit repayments have so far been conducted via your bank account, you will now have to pay them via the Credit servicing account.
- The account number for the Credit servicing account was provided to you in a letter. You can also see this number in Danske eBank.
- This account belongs to the Danske Bank and it is in the name of the bank. The only intended purpose of use of this account is to service the credit agreement(s) concluded with you. The Credit servicing account is opened for credit repayment purpose only. The account is not intended for money depositing or other daily banking services.
- All obligations of the credit agreements, e.g. principal payments, interest payments, commitment fees, payments under the lease agreement, repayments of the used credit limit of the credit cards and related fees, possible fees, fines for delay etc. should from now on be paid to the Credit servicing account.
- If the insurance premium of the insurance agreement related to the credit agreement pertain to be paid to the bank, please transfer these payments also to the Credit servicing account.
- Please make the payments to the Credit servicing account according to the credit agreement repayment schedule and actual contractual payment obligation.
- The payments received to the Credit servicing account are considered as performance of the credit agreement payment obligation according to the dates provided for in the credit agreement payment schedule (not when the payment arrives to that account). In case of several obligations, the payments will be debited according to the sequence of their contractual performance.
- The bank has the right to return partial or full payment made to the Credit servicing account, if the bank considers it not to meet the purpose of performing the credit agreement (for example if the overpaid amount is significantly larger than it is needed for a few next regular payments).
- If you have the valid electronic services agreement, you will find information on the credit agreement(s), notifications on changes in base interest and schedules of valid interest period from Danske eBank. It is also possible to view the Credit servicing account and the payments made through it in Danske eBank.
- If you do not have access to Danske eBank, please contact the bank for the agreement.
- The credit agreements or collateral agreements may provide obligations about owing the current account in Danske Bank. The bank confirms that from now on all such obligations are void and there is no need to perform these obligations.
What should you do?
- Please follow the credit agreement payment obligations and the deadlines closely.
- We recommend making the necessary payment one weekday before the deadline of the payment obligation. Thus you will avoid possible misunderstandings with the delay in arrival of the payment, emergence of arrears and calculation of default interests.
Please contact the bank if:
- The contractual loan has not been fully paid to you and you wish to receive the payment of the loan amount.
- If you want to perform the credit agreement or part of it earlier. Otherwise, the bank may find that the sum transferred to the Credit servicing account is not necessary for the performance of current payment obligations. Hence the bank may return this sum to the payer.
"Know your customer" questionaires
According to the current anti-money laundering and tax administration legislation and the overall know-your-customer principle, banks find it essential to maintain an overview of their customer base. This applies to you too, despite that your account (-s) have already been closed or are due to be closed soon. That is why we are periodically seeking further information on your personal data, economic activities and individuals related to you.
As long as you are a customer of the bank (or in case of local business and private customers - as long as you have a valid credit agreement), you are obliged to submit the required information to the Bank.
You can fill-in the questionnaire in two ways:
- You can fill it in and submit online, on Danske eBank. The form is available under the “Information & Settings” tab, or under the link www.danskebank.lt/additionaldata
- Download the form from www.danskebank.lt/additionaldata, fill it in offline, sign and return it to your Relationship Manager in Danske Bank.
Please make sure that the questionnaire is signed by the private individual who is the account holder or the authorised representative.