Amendments to the bank DNB regulations and the List of Conditions
31.10.2013
Please, be advised that as from 1 January 2014 shall become effective amendments to regulations and the List of Conditions of the bank DNB.
Amendments apply to the List of Conditions of the bank DNB including limits and the regulations as follows:
General Business Terms and Conditions
Account Maintenance and Card Use Regulations
Payment Rules
Term Deposit Account Opening and Maintenance Rules
Guarantee Issuance Rules
Direct Debit Regulations
Amendments apply to both retail and corporate customers.
Currently effective versions of regulations and versions effective as from 1 January.
Currently effective version of the List of Conditions:
For private individuals (only in Latvian)
For legal entities (only in Latvian)
Version effective as from 1 January:
For private individuals (only in Latvian)
For legal entities (only in Latvian)
Overview of the most important amendments to regulations:
General Business Terms and Conditions stipulate the procedure whereby the bank shall apply the euro foreign exchange reference rate imposed by the European Central Bank in lieu of the exchange rate imposed by the Bank of Latvia, as before. The respective modifications are made also in the remaining bank regulations referring to the exchange rate;
From all regulations are excluded references to lats and abolished regulations on LVL payments;
Is defined the European payment by stipulating equal requirements for payments within the European Economic Area, Switzerland, and Monaco made in EUR or national currencies of the respective countries;
In the payment rules is stated the bank’s right to refuse payment orders that are executed more than 10 days before submission as well as the bank’s right in the European payment order to replace the type of the commission payment with SHA, if the customer has specified another one;
In the payment rules are detailed the provisions that govern the responsibility for execution of payments;
Direct Debit Regulations are issued in a new version, including replacement of their title, which will read – Regulations for automatic payment of bills.
Overview of the most important amendments to the List of Conditions:
The Payments section is revised, legislating for replacement of LVL payments with EUR payments. Considerably is reduced the commission for EUR payments within the Europe;
Is detailed the section on the customer servicing by virtue of the power of attorney;
Are modified the product limits stated in the List of Conditions, e.g.:
- Introduced a new cash withdrawal limit of 350 EUR/day from ATMs abroad, if equipped only with the magnetic strip reading technology. The new cash withdrawal limit does not apply to ATMs tooled up with the card chip reader;
- Are amended the payment cards’ cash withdrawal limits pursuant to the recommendations of the Association of the Commercial Banks of Latvia;
- Are amended SMS info service limits by approximating them to whole numbers;
- Are amended the Internet-bank limits imposed by the bank DNB.
If you have any questions or queries, please do not hesitate to call the bank DNB 24/7 support line.
