aA
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

Top court finds restrictions on waste-to-energy plants unconstitutional

The 2018 amendments to Lithuania's Law on Waste Management that imposed a ban on building...

Lidl gives up plastic bags in Lithuania (1)

The German retail chan Lidl has given up plastic bags in Lithuania. Other major retailers say they...

Ukrainians coming to Lithuania to work should be better informed about working conditions

Ukrainians coming to Lithuania to work should be better informed about working conditions after...

Leading Swiss engineering consultancy plans to double its Vilnius team

Engineering consultancy CSD Engineers has announced plans to double the size of its team in Vilnius...

Orlen Lietuva to carry its 1st cargo using rebuilt Renge section

The first freight train will go via the railway section from Lithuania's Mazeikiai to Renge in...

Top news

Landsberis: responsible parties could form coalition after election

Gabrielius Landsberis, leader of the opposition conservative Homeland Union – Lithuanian Christian...

Top court finds restrictions on waste-to-energy plants unconstitutional

The 2018 amendments to Lithuania's Law on Waste Management that imposed a ban on building...

Ex-Pentagon chief Mattis awarded by president

Lithuanian President Gitanas Nauseda awarded 34 Lithuanian and foreign nationals for their merits to...

Lidl gives up plastic bags in Lithuania (1)

The German retail chan Lidl has given up plastic bags in Lithuania. Other major retailers say they...

Google presented Lithuanian initiative to world

The Internet giant Google has presented its video about Debunk EU during the Google News...

|Maža didelių žinių kaina