Going forward, in the Baltic markets, Danske Bank will focus exclusively on supporting subsidiaries of Nordic customers and global corporates with a significant Nordic footprint. This is due to a strategic decision to re-position our Baltic activities towards our Nordic focus.
These changes took effect on 26 April 2018 and concern our relationships with local Baltic businesses and private banking customers, whereas international customers are not affected.
These changes took effect on 26 April 2018 and concern our relationships with local Baltic businesses and private banking customers, whereas international customers are not affected.
Re-positioning our Baltic activities towards a Nordic focus
The decision is strategically based on our overall ambition to focus on customers in the Nordic region. In the Baltics, subsidiaries of Nordic customers and global corporates is the customer segment where we can offer the best solutions and provide the most value.
Therefore, we want to align our activities in the Baltics with our Nordic ambition and have no local exposures outside the Nordics and Northern Ireland. This includes harmonising our value propositions and service model cross borders to be the same in the Baltics as in Germany and Poland, for example.
Therefore, we want to align our activities in the Baltics with our Nordic ambition and have no local exposures outside the Nordics and Northern Ireland. This includes harmonising our value propositions and service model cross borders to be the same in the Baltics as in Germany and Poland, for example.
Effect on our relationship with local businesses and private banking customers
We will of course continue fulfilling all our obligations concerning current arrangements:
- Day to day products for both personal and business customers will however be withdrawn on a phased basis during 2018/early 2019. You will of course be given notice of any changes to your arrangements with the bank.
- Business and personal loans, including mortgages, will continue unchanged in line with existing terms and conditions. However, as the current account will be closed, the account for servicing the credit agreements will change.
However, the decision means that we will no longer be able to enter into new financial arrangements with local businesses and private banking customers.
All affected customers will be informed well in advance
We will of course seek to minimise any inconvenience this may cause you. We will inform you via personal messages and on this website to clarify the impact this decision will have on each product or service you have with Danske Bank.
If you are ready to terminate an existing service agreement with Danske Bank, you can apply to close your current account by submitting a free-format application via the Danske eBank. In order to apply for premature termination of a credit agreement, we kindly ask you to contact your Relationship Manager.
Frequently asked questions
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What is the definition of an “international customer”? How will the changes impact international customers?
An international customer is a customer of Danske Bank Group in the Nordic countries (whose headquarters is based in the Nordics) as well as global corporates with a significant Nordic footprint and who uses Danske Bank in one of the Nordic countries.
Going forward, we will provide you with more dedicated attention to your banking needs, and are already investing significantly in harmonizing our services, product offerings and solutions cross borders.
Since there are no changes for your customer relationship with us, no action is needed from you. If you or your colleagues have private banking arrangements with us, you will be notified separately. -
How will this impact local customers? Should you take any actions?
The bank will fulfil all our obligations for current engagements.
Existing day-to-day personal and business products will continue to be supported until a separate notice. Day to day products for both personal and business customers will be withdrawn on a phased basis during 2018/early 2019 where possible. You will be informed about the changes in advance, no less than 60 days before changes become valid.If you are ready to terminate an existing service agreement with Danske Bank, you can apply to close your current account by submitting a free-format application via the Danske eBank.
Credit agreements will remain valid in line with existing terms and conditions, but as the current account will be closed, the account for servicing the credit agreements will change. You will be informed of the new credit servicing account via personal messages.
In order to apply for premature termination of a credit agreement, we kindly ask you to contact your Relationship Manager.
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How will credit servicing change once the account agreement is terminated?
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.
Beneficiary: Danske Bank A/S Lithuania Branch
Account number: the Credit servicing account number that was sent to you
Payment details: (for example) Fulfilment of credit agreement
The payment has no reference number and an e-invoice cannot be ordered. - 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 a valid electronic services agreement, you will continue to receive information via e-mail or mail.
If you do not have an 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 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.
- Your credit agreement will soon be expiring and you have to agree on the next steps for deleting the pledge (e.g. deleting the mortgage or commercial pledge).
