Luminor General Business Terms to change on 1 March 2024

On 1 March 2024, we’re introducing improvements to Luminor General Business Terms.

Our main goal was to simplify the General Business Terms and provide them in an easy-to-understand manner.

The main changes as of 1 March 2024:  

• reworded text while retaining the legal substance; 
• abandoned excessive numbering of paragraphs to improve the readability of the text; 
• reduced legal jargon;  
• deleted repetitive passages; 
• shortened paragraphs and sentences; 
• introduced the question-and-answer format; 
• introduced “we” to refer to Luminor and “you” to refer to a customer. 

General Business Terms as of 01.03.2024.

You will also be able to read through them at our Customer Service Centres from 1 January 2024. 
   
If you agree to our proposed changes, you don't need to take any action – the updated Luminor General Business Terms will take effect on 1 March 2024. If you don’t agree to changes, you have the right to terminate the service agreements by notifying us in writing and fulfilling all contractual obligations by 29 February 2024. Payment service agreements can be terminated without any fees or sanctions. If you do not terminate the service agreements before the effective date of the changes, you will be deemed to have accepted the changes to Luminor General Business Terms. 
 
Thank you for choosing Luminor and being with us!