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The two largest commercial banks in Lithuania, Swedbank and SEB, informed their clients about this. At the time, the bank informed Luminor’s tv3.lt portal that it had no plans to change the service fees yet.
Swedbank’s new rates will take effect in early February next year. This bank will charge customers higher prices for cash transactions.
For example, withdrawing your money at bank branches will cost no more than 1 percent. of the amount to withdraw, or at least 3 euros, as is currently the case, and 2%. or at least 5 euros. So if you now refine a thousand. You would have to pay 10 euros, then next year it will cost 20 euros.
Swedbank ATM withdrawals will increase in price from 0.4 percent. up to 0.5 percent. of the amount to be withdrawn, and the minimum service fee will be 0.5 euros. Now you can’t charge up to € 580 per month.
Withdrawing money with a normal Swedbank debit card at ATMs of other banks will increase the minimum price of the service from the current 2.9 to 3 euros.
Depositing cash at bank branches at bank branches will increase the cost by 0.1%. paid from the amount and a minimum fee of 3 euros up to 0.2 percent. of the amount and the minimum rate of 5 euros already.
SEB Bank as of January 18 of next year. value payment card services. For example, the monthly fee for a debit card will increase by almost 50 percent. – from € 0.7 per month to € 1 per month.
A similar credit card fee will increase from € 1.45 to € 1.6 per month.
The fee for changing a credit card in case of loss, damage, forgetting the PIN code or wanting to replace the existing card before its expiration date will increase from the current EUR 8.69 to EUR 10. Changing your credit limit will cost the same.
In addition, this bank will introduce a € 5 fee for withdrawing a new or modified credit card at a bank branch, which currently does not apply to customers.
Banks publish all changes in the prices of services on their websites. The representatives of the banks explained in a different way the rise in the price of some of them.
Take into account the habits of the population
Swedbank spokesman Saulius Abraškevičius noted that the new rates were approved taking into account the change in customer behavior.
“It must be said that the review of bank fees is directly related to the changing behavior of customers. Residents “migrate” to electronic channels, where they want to receive as many services as possible, they demand a lot of convenience, accessibility and speed of service provision.
Therefore, the new rates reflect our long-standing commitment to email. use of the services and create more attractive conditions for online shoppers around the world, “explained S. Abraškevičius.
According to him, the population’s tendency to opt for electronic banking services means in itself that the need for cash transactions is decreasing and this trend has been observed for several years.
According to a representative of Swedbank, the cash deposit service at the bank’s branches is becoming more and more niche. Cash processing is said to cost a great deal of bank resources, and as a result, this service becomes more expensive.
“Another important aspect is the implementation of the requirements for the prevention of money laundering. According to the legislation, the bank must know the origin of the cash deposited in the accounts,” commented the bank representative.
The price is such that it is more convenient.
Gintautas Giržadas, Head of Daily Banking Services at SEB Baltics, explained that the pricing of the services of the bank he represents was designed in such a way that, as before, it would be more useful and convenient for customers to use daily services by choosing one of the bank’s service plans. It is said to be cheaper than using separate banking services.
According to G. Giržads, the composition and rates of the SEB bankas service plans will remain unchanged, with the exception of the “Standard” plan, whose rate will be reduced from January 1, 2020 (1.45 EUR instead of 1.5 EUR).
“In addition, when reviewing rates, we continue to encourage customers to use free self-service channels or convenient self-service alternatives to receive service, and we constantly educate and advise customers on how to handle financial matters independently,” commented one bank representative.
According to him, by choosing any of the provided service plans, customers can use the debit card for free, paying only a fixed service plan fee per month.
“For the same fee, service plan holders use other services (for example, unlimited number of bank accounts, free online transfers within the bank in any currency, euros) to other banks registered in Lithuania, the European Union and the European Economic Area, free cash withdrawal limit “, Appointed G. Giržadas, adding that 80% use service plans. active private clients of SEB bankas.
According to a SEB representative, the bank has invested heavily in the development of payment card functions in recent years, introducing more self-service options for customers to change various payment card configurations via internet banking or the mobile application, and provided customers with Android smartphones.
In addition, travel insurance for credit card holders abroad has recently been expanded, for example, to cover not only minor relatives of a credit card holder, but also family members under the age of 21 years. Therefore, the credit card fee is being modified to take into account the increasing costs of credit card insurance incurred by the bank.
Regarding the fee for collecting cards at the branch, SEB Bank aims to send debit and credit cards to the population by post. This is convenient for customers: they save time, the cards arrive in the most convenient place, and the service is free if you choose to receive the card by post in Lithuania.
The bank has been sending debit cards to customers by mail for a while, and this year the bank has made it possible to receive credit cards in the same way. It is a comfortable, safe and free alternative that allows you to easily get a card at home or at the office and not waste time at the bank ”, assured G. Giržadas.
According to him, when sending a new card by mail, its PIN code is provided to the customer at the Internet bank. Currently, up to 75 percent. customers choose to receive payment cards in the mail.
The SEB representative also explained that the 10 euro credit card limit change will be applied at the bank branch as customers are offered a convenient free alternative – customers can change the credit card limit themselves in the Internet bank at any time.
“In cases where the customer arrives at the bank branch of this service, the service fee has been set, taking into account the costs incurred by the bank to provide the service. We always encourage customers to use free and convenient self-service services.
The charge for changing the card in the event of loss, damage, or forgetfulness of the PIN is modified according to the costs incurred by the bank to produce a new card, additionally sending it by mail ”, reported G. Giržadas.
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