Important notice of changes in your customer relationship with Danske Bank

The changes concern our relationships with local Baltic businesses and private banking customers who have received notifications regarding termination of agreements concluded with Danske Bank on 13 August 2018.
As we have notified you earlier, Danske Bank has decided to focus its activities in the Baltic States exclusively on servicing subsidiaries of Danske Bank Group Nordic customers and global corporates with a significant Nordic footprint.

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. According to this strategy Danske Bank A/S will no longer be able to offer financial services for local Baltic businesses and private banking customers.

Information about termination of services

Bank accounts

  • Accounts

    What should you know?

    • Account agreement will be terminated and present bank accounts will be closed on 27 October 2018.
    • After the account is closed, you will have to submit respective application at the bank in order to transfer the remaining funds. The remaining funds can be only transferred to an account registered on the name of the former customer with other financial institution in Latvia. Danske Bank is entitled to ask additional information or documents about source of funds.
    • All payments to your Danske Bank account made from 26 October 2018 5:00 p.m. will be returned to the payer.

    What should you do?

    • We recommend you to transfer any funds remaining in your accounts to your account with another service provider by not later than 5 p.m. on 26 October 2018.
    • In case of need, please print or download the Account statements from Danske eBank before 5 p.m. on 26 October.
    • Please notify other bodies and persons who make payments to your account about the new account numbers you have with another payment service provider.
    • You can terminate the current account agreement and related agreements earlier by sending us a free-format application in Danske eBank or a digitally signed application to info@danskebank.lv.
  • Savings account

    What should you know?

    • The Bank will terminate your Savings Account agreements on 27 October 2018.
    • Savings amount and interests (regular and if applicable additional interest) will be paid to your current account on 27 October 2018.

    What do you have to do?

    • We recommend you to terminate Savings Account agreement and transfer the funds from Savings Account through your current account to your account with another service provider by not later than 5 p.m. on 26 October.

Payment cards

  • Debit cards

    What should you know?

    • Your payment card(s) agreement(s) will be terminated on 16 October 2018 and you will not be able to perform any transactions using the payment cards from that date.
    • The account(s) used for card(s) servicing will be closed on 27 October 2018.
    • Monthly administration fee (if applicable) calculation will be stopped immediately after card is stopped and fees will be written from the account, so please make sure that there are enough funds for fee debiting.

    What do you have to do?

    • We ask you to transfer the balance of your bank account related with card to your account with another service provider by not later than 5 p.m. on 26 October. If any funds remain in your account(s) after termination of the agreement, you will have to submit an application at the Bank in order to transfer the funds.
    • If necessary, we recommend that you download or print out your account statements from Danske eBank. You can also refer to Danske Bank Latvia branch regarding such statements.
  • Credit cards without credit limit

    What should you know?

    • Your payment card(s) agreement(s) will be terminated on 16 October 2018 and you will not be able to perform any transactions using the payment cards from that date.
    • The account(s) used for card(s) servicing will be terminated on 27 October 2018.
    • Annual card account fee (if applicable) calculation will be stopped immediately after card is stopped and fees will be written from the account. Please make sure that there are enough funds for fee debiting.
    • If you have received a "Priority Pass" card along with the Danske Bank credit card, it will cease to function on 27 October.
    • Travel Insurance will be valid until 27 October 2018.

     What do you have to do?

    • We ask you to transfer your bank account related with card balance to your account with another service provider by not later than 5 p.m. on 26 October. If any funds remain in your account(s) after termination of the agreement, you will have to submit an application at the bank in order to transfer the funds.
    • We recommend that you print out your account statements from Danske eBank, to save the account statement(s) or to refer to Danske Bank Latvia branch regarding such statements.

Digital services

Payments & Cash management

  • Payment orders

    What should you know?

    • You will be able to make payments to and from your Danske Bank accounts without any interference until 26 October 2018 5:00 p.m. 
    • Local or international payments to your Danske Bank account received after 26 October 2018 5:00 p.m. will be returned to the payer

    What should you do?

    • Please notify other bodies and persons who make payments to your Danske Bank account about the new account number you have with another payment service provider.
  • Payments package

    What should you know?

    • Payments packages service will be terminated on 27th October 2018 for all customers.
  • Standing Order

    What should you know?

    • Standing order agreement will be terminated on 27 October 2018.
    • The last payment debited from your bank account and transferred to the payee will be executed on
      26 October 2018.

    What should you do?

    • We recommend you to conclude respective agreements with another payment service provider if you want to keep standing order service.
  • Danske Bank account management via foreign bank
    What should you know?
    • Danske Bank account management via foreign bank service will be terminated on 27 October 2018.
    • Requests for transfer (MT101) will be executed if received until October 26. Requested execution date should not be later than October 26.

    What do you have to do?
    • Please inform another bank about termination of agreement with Danske Bank.
  • Foreign account management via Danske eBank
    What should you know?
    • Foreign account management via Danske eBank service will be terminated on 27 October 2018.

    What do you have to do?

    • Please inform another bank about termination of agreement with Danske Bank.

Markets

Trade finance & guarantees

  • Documentary credits (Export)

    What should you know?

    • Export Documentary Credits service will be terminated and no new transactions will be advised from
      27 October 2018
      (except customers already advised separately).
    • All outstanding transactions will be performed until 26 October 2018.

     

    What do you have to do?

    • Outstanding Export Documentary Credits should be processed so that the payment arrives not later than 26 October 2018 (shipments should be planned accordingly).
  • Documentary collections

    What should you know?

    •  Import Documentary Collections service will be terminated and no new transactions will be accepted from 27 October 2018 (except for customers already advised separately).
    • Export Collections service will be terminated immediately after 13 August 2018.

     

    What do you have to do?

    • Outstanding Documentary Collections should be processed so that the payment arrives or is transferred not later than 26 October 2018.
  • Bank guarantees (received and advised)

    What should you know?

    • Bank guarantees (received and advised - Export) service will be terminated and no new transactions will be advised from 27 October 2018 (except for customers already advised separately).

     

    What do you have to do?

    • Your Buyer/Partner willing to issue a guarantee to you should be informed to advise his guarantee through another Bank.

Savings & Investments

  • Term Deposits

    What should you know?

    • Deposit amount and interest for the full period until the maturity date of the term deposit specified in the agreement will be paid to your current account on 17 September 2018.

     

    What do you have to do?

    • We recommend you to transfer deposit amount and interest to your account with another service provider by not later than 5 p.m. on 26 October 2018.
  • Agreement on Financial Instrument Accounts Services 

    What should you know?

    • The Bank will terminate your Agreement on Financial Instrument Accounts Services on 27 October 2018.

       

      What do you have to do?

    • If you should have securities balance, we recommend you to transfer securities to another bank by 26 October.

Do you have any questions?  

In case of questions, please call 67 959 599 or your relationship manager, or visit our Bank branch.