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Leasing Agreement Information
Conclusion of Lease Agreements

Sale of the private credit portfolio of Danske Bank Lithuania branch to Siauliu bankas

GENERAL

What should I do?

We have arranged for the migration to be as comfortable as possible for the customers. Siauliu bankas has opened credit servicing accounts for all customers, where they must make credit/leasing (hereinafter- credit) payments starting from 1 May 2020. Customers do not need to take any additional actions in this regard.

 

What happened to my funds in Danske Bank credit servicing account on 1 May 2020?

On 1 May, customers’ funds remaining in Danske Bank’s credit servicing accounts were transferred to new credit servicing accounts opened to them in Siauliu bankas for the next instalments of credit agreements.

 

What will happen to loan payments that will be received to Danske Bank’s credit servicing accounts after 1 May 2020?

All amounts received to the credit servicing accounts in Danske Bank during the period of 1 May 2020 - 31 May 2020 will be automatically transferred to the respective customers’ credit servicing accounts in Siauliu bankas. Any amounts received later will be returned to the payer.

AGREEMENTS

Will there be any changes to the current credit agreements? Will I  have to enter into new agreements?

  • Terms and conditions of agreements do not change as a result of migration, except for the change in credit servicing account - instead of the credit servicing account in Danske Bank, from 1 May 2020 customers must start making credit payments to credit servicing accounts provided to them in Siauliu bankas.
  • It is not necessary to enter into a new credit agreement with Siauliu bankas in relation to this transfer. However, as of 1 May 2020 general terms and conditions, as well as pricelist of Siauliu bankas apply to you as customer of Siauliu bankas.  
  • For some customers, whose payment day according to the leasing agreement and repayment schedule are the 1st-4th days of the month, payment date will be automatically changed to the 5th day of the month.

 

Do I have to open an account in Siauliu bankas?

  • Customers do not need to open accounts for credit servicing themselves, as they have already been opened automatically. Customers were informed of their new credit servicing account numbers on 1 May 2020. Please contact Siauliu bankas if you have any questions (telephone no. 1813, calling from abroad +370 37 301337,  or email kc@sb.lt).
  • If you want to open an account with Šiaulių bankas for your everyday needs, please contact Siauliu bankas.

 

Do I need to discuss all amendments to my credit agreement with Siauliu bankas in the future?

All agreement amendment requests must be referred to Siauliu bankas from 1 May 2020.
 

Do I have to pay any fees for the migration of my credit to Siauliu bankas?

Customers do not have to pay any fees in relation to the migration.

 

Do I have to have my salary paid to Siauliu bankas?

Customers are not obliged to transfer their salaries to Siauliu bankas. However, it is important to periodically transfer the amount needed to cover the instalments under the credit agreement.


Where will I see data related to my credit agreement (amount of monthly payment, loan balance, notices on changes in interest rates) in the future?

  • Customers who already have a valid electronic services agreement with Siauliu bankas can view the information related to their agreement and payment schedule in Siauliu bankas internet and mobile bank.
  • Customers who do not have Siauliu bankas internet bank, must contact Siauliu bankas to order the service.
  • Customers with a valid leasing agreement can register in the Leasing Agreement System of Siauliu bankas and view leasing payment schedules, issued invoices and amounts payable there. To connect to the Leasing Agreement System, customers need a personal identification code, e-mail address and leasing agreement number. Customers can also see the leasing agreement in Siauliu bankas internet bank, if they have one.

 

When will Danske eBank be closed?

  • Danske eBank will remain open for limited use until 31 May 2020. After this date, Electronic Services agreement will be considered terminated by Danske Bank. We advise customers to save the necessary credit servicing account statements before Danske eBank is closed.
  • Siauliu bankas internet bank cannot be ordered automatically, therefore, to order it, please contact Siauliu bankas.

 

Will collateral owners also be informed of the change?

Notice of the migration has been sent to borrowers, co-borrowers, sureties and collateral owners.

 

What will happen to credit agreement collateral?

  • All existing collateral to credit agreements and all collateral agreements have been or will be migrated to Siauliu bankas; they will remain in force under their existing terms and conditions.
  • Customers do not have to do anything in relation to the migration of collateral or pay any expenses related thereto.

 

Will mortgages securing the loans be reregistered in the name of Siauliu bankas? Do I have to do anything or pay any fees?

Yes, mortgages will be reregistered in the name of Siauliu bankas, but customers do not have to pay any fees for this. Siauliu bankas and Danske Bank will take care of the necessary registry entries within the next several months.  If customers want to conclude transactions with their property during this period, they should contact Siauliu bankas.

 

My car, purchased under a leasing agreement, has so far been registered in the name of Danske Bank. Do I have to do anything?

From 1 May 2020, Siauliu bankas is the lessor and the owner of the object of lease. Changes of owners of vehicles will soon be entered in the register of state enterprise Regitra and customers will receive new vehicles’ registration certificates by registered post, in the course of May.


What kind of information can I request from Danske Bank after 1 May 2020?

  • Customers must contact Siauliu bankas in case of all questions regarding credits migrated to Siauliu bankas.
  • Please contact Danske Bank if you have any questions on agreements that have already expired. You can find the necessary contact details on Danske Bank’s website.

 

Do I have to send effective insurance policies to Siauliu bankas myself or will Danske Bank do it?

  • Insurance policy of the collateral or the object of the lease agreement will remain valid until the expiry date of the policy. Danske Bank will inform insurers of the new beneficiary.
  • Going forward, customers must indicate Siauliu bankas as the beneficiary, when a new insurance policy is issued. Insurance administration services for Siauliu bankas are provided by the Insurance broker - UADBB Aon Baltic.
PERSONAL DATA PROCESSING

What kind of data has Danske shared with Siauliu bankas?

The credit portfolio of private persons was transferred as a business, and as a result, Siauliu bankas takes over Danske Bank A/S Lithuania branch’s role as the creditor in credit agreements and the creditor in credit, leasing, collateral and other agreements. In the course of the transfer, all of the information and data that are related to such agreements and the parties thereto and that are necessary for Siauliu bankas as a creditor to fulfil its obligations as well as other legal obligations (e.g. prevention of money laundering and terrorist financing), were be transferred.

 

How old are the data that were shared?

The age of the data shared depends on the credit relationship that is transferred. As the entire valid credit relationship data will be transferred to Siauliu bankas, the transfer will include all of the information and documents related to credit, leasing and other agreements that is necessary for Siauliu bankas to fulfil its legal obligations.

 
Do I have the right to refuse to share my data?

  • You cannot refuse to share or hand over data in the course of the transfer of the enterprise. With the transfer of the enterprise, the transferee of the enterprise received all of the assets, agreements and rights and obligations related to the enterprise. Data related to the enterprise was also transferred. The transfer of the enterprise and its continued management would not be possible without transferring the data.
  • The transfer of the enterprise is a permissible and lawful operation, in the course of which data will be transferred to Siauliu bankas as the transferee of the enterprise on the basis of the legitimate interests of Siauliu bankas as the data controller and on compelling legitimate grounds. Such data processing and disclosure to the transferee of the enterprise corresponds to the provisions of Danske Bank’s personal data processing policy and general data protection requirements.

 

Who will I be able to access my personal data in the future? Who is responsible for processing such data?

Going forward, Siauliu bankas is responsible for the further processing of personal data transferred. Siauliu bankas will notify you regarding how exactly your personal data will be processed. You can also obtain information on how Siauliu bankas processes personal data from their website or by contacting Siauliu bankas directly. You will find the contact details on Siauliu bankas website.