Updates to the rules, terms and rates for some services

A new version of the Payment Service Rules of Šiaulių Bankas (hereinafter, the “Rules”), which are an integral part of every agreement concluded with a client or service provided to a client, will take effect as of 1 January 2025. 

The main changes to the Rules are as follows:

• The term “unique identifier” has been changed to “bank account number” to ensure that the terms used in the text are clear;
• New clauses have been introduced regarding the closure of an account at the initiative of Šiaulių Bankas upon the client’s death, deregistration of a legal entity from the Register of Legal Entities or its bankruptcy;
• A new clause has been introduced that a bank account cannot be closed at the client’s request if it contains funds and has been seized;
• The conditions under which payment transactions are considered to be confirmed/authorised by the client and Šiaulių Bankas is obliged to execute the payment order have been clarified, as well as what the customer should pay attention to in order to avoid potential fraud, e.g., to be careful when confirming unknown transactions in the cyberspace, to carefully read the received messages and not to approve the payment transactions that he/she has not initiated, to take all precautions to ensure the safety of his/her smart device to prevent third parties from using his/her digital card, etc.;
• The Rules have been supplemented with the cases where Šiaulių Bankas has the right to suspend payment transactions for verification for more than 3 days;
• Clauses on the handling of disputes related to payment card transactions through the international MasterCard Association have been added. Also, an explanation of “reserved funds” has been provided;
• In cases when the client (consumer) denies that he/she has authorised the payment transaction, Šiaulių Bankas is obliged to prove the authenticity of the payment transaction and to indemnify the client for the losses incurred due to the fault of the Bank;
• A new chapter on the implementation of international sanctions and restrictive measures in Šiaulių Bankas has been added to the Rules;
• Information on unpaid commission fees will be made available to the clients in the Internet Bank or at the Bank’s branch;
• Other minor changes and clarifications (introduction of new terms; the right of the client (consumer) to contact the supervisory authority (the Bank of Lithuania) in case of a dispute with Šiaulių Bankas; receipt of a statement and a report on the commission fee after closing a bank account; conditions for granting limits for payment transactions, conditions for using digital cards and other smart devices for payment orders, the obligation of representatives to inform their minors about responsible and safe use of payment services, etc.).

The updated Payment Service Rules of Šiaulių Bankas are available here. You can access the comparative document here.

Changes to the Terms of the Basic Payment Account Package effective as of 1 January 2025:

• The monthly fee for the basic payment account will decrease to EUR 1.00 and will be EUR 0.50 for persons receiving social assistance. The commission is currently EUR 1.47 and EUR 0.73 respectively and will apply until 31 December 2024.
• The free monthly cash withdrawal limit at ATMs in the Medus and Bankomatas.lt networks will be increased to EUR 800.00 per month. The limit is currently EUR 550.00 per month and will apply until 31 December 2024.
• The number of free monthly electronic credit transfers will be increased to 15 transfers. Currently, up to 10 credit transfers per month can be made free of charge and this number will apply until 31 December 2024.

You can subscribe to the basic payment account service by submitting a request to any customer service unit of Šiaulių Bankas.

Changes to the list of countries to/from which non-SEPA credit transfers are sent/received effective as of 1 January 2025:

• The following countries have been removed from the list: Albania, Botswana, Chile, Dominican Republic, El Salvador, Faroe Islands, Greenland, Malta, Mauritania, Morocco, Qatar, Saint Martin, Uruguay, Western Samoa; 
• The following countries have been added to the list: Angola, Bangladesh, Bolivia, Burundi, Central African Republic, Comoros, Congo, Eritrea, Eswatini, Equatorial Guinea, Guinea-Bissau, Hong Kong, Israel, Kosovo, Laos, Libya, Monaco, Palestine, Papua New Guinea, Samoa, Sierra Leone, Zambia.

Changes to the transaction limits for payment cards effective as of 1 January 2025:

• A new maximum allowable limit of EUR 15,000 per card per day for the cash withdrawals. With the bank’s agreement, a limit higher than the maximum allowable limit may be set to last until the card expiry date;
• Clarifications to other clauses on the application of limits.

Private clients can find the changes to the terms and rates of the basic payment account, the changes to the payment card transaction limits and the updated list of countries here.

For Corporate clients the changes to the transaction limits for payment cards and the updated list of countries are available here.

Changes to the Terms of the Security Programme for Payment Cards effective as of 1 December 2024:

• The security programme fee is debited from the client’s account once a month and is paid for the following calendar month. If on the first calendar day of the month there are no funds or insufficient funds in the client’s accounts to debit the fee, the attempt to debit the fee shall be made on the subsequent days up to the last day of the current month, whenever there are sufficient funds in the client’s accounts to pay the fee in full.
• Attention! As from 1 December 2024 the fee will be debited for the following month, the security programme fee will be debited twice in December: for the current month (December) according to the current terms and for the following month (January) according to the new terms;
• If there are no funds in the client’s accounts to debit the security programme fee for 6 consecutive months, the security programme will be deactivated. If the client wishes to re-subscribe to the security programme, he/she will be required to re-submit the request via the Internet Bank or at a Bank branch;
• other minor revisions.

The new version of the Security Programme document is available here.

Rental of safe deposit boxes:

• Please be informed that as of 30 September 2024, Šiaulių Bankas no longer concludes new agreements for safe deposit box rental services and does not renew the expired agreements. For more information, please visit here.