The Bank of Lithuania has drafted a list of private banking services that it proposes should be made more accessible. If the proposal is endorsed by parliament, commercial banks will have to provide basic services like debit card administration, cash withdrawals and money transfers in the EEA to their clients at a fixed charge.
Lithuania's central bank proposes to cap charges for basic banking services
© DELFI / Šarūnas Mažeika

According to the central bank's proposal, commercial banks should not charge more than EUR 1.53 per month for a list of basic services that it deems essential.

"Payment services linked to one's bank account are a necessity, therefore we want as many people as possible to have access to these services at an affordable price," Bank of Lithuania governor Vitas Vasiliauskas is quoted as saying in a press release. "Using criteria set out in the drafted Law on Payments, we have put together a set of essential banking services, from money transfers to cash withdrawals. There will be a limit to how much banks, credit unions, online banking service providers can charge their clients for these services."

To become law, the proposal has to be endorsed by the Lithuanian government and parliament.

The list of essential services that banks would have to provide at no extra charge includes a limited number of money transfers to accounts in the European Economic Area, debit card issuance and administration, cash withdrawals and deposits in ATMs, opening and closing bank accounts and online banking.

|Populiariausi straipsniai ir video

GetJet Airlines set to lay off 370 employees

Lithuania's wet-lease and charter services provider GetJet Airlines has given lay-off notices to 370...

Avalanche of ideas developed in 'Hack the Crisis' hackathon

One of the most important tasks for hackathon organizers was to identify the most pressing issues,...

Lithuania and some other EU countries ask for Mobility Package postponement

Lithuania and "like-minded" EU member states are urging the bloc's bodies to postpone the...

Oro Navigacija sees further 50 pct drop in workload after Russia halts flights

The chief executive officer of Lithuania's state-owned air navigation service provider Oro...

Intersurgical to produce 1 million respirators for medics

Intersurgical, a Lithuanian designer, manufacturer and supplier of a wide range of high quality...

Top news

8th death in Lituania due to coronavirus

On Tuesday it was announced about another death of a patient with the novel coronavirus .

Coronavirus pandemic: 537 cases in Lithuania

On Tuesday, 30th March, 46 new COVID-19 cases were confirmed in Lithuania. In total there were 537...

The Roop gets place in final in next year Eurovision selection

Lithuania will hold a national Eurovision selection next year, and this year's winner The Roop, a...

27 severe coronavirus cases in country

Lithuania currently has 27 severe COVID-19 cases and the coronavirus outbreak has not yet peaked,...

GetJet Airlines set to lay off 370 employees

Lithuania's wet-lease and charter services provider GetJet Airlines has given lay-off notices to 370...

|Maža didelių žinių kaina