2023-08-22
According to the Bank of Lithuania, UAB PAYRNET has already returned about half of the funds to its customers. The further pace will depend on several factors, including customer communication with this institution.
The Bank of Lithuania constantly monitors payments to customers made by UAB PAYRNET as a result of its periodic reporting. The settlement process is halted by the institution’s specific business model: it provided financial services with the help of 90 agents, distributors or other legal entities. The institution has experienced data exchange problems with some of them and has, therefore, once again carried out a reconciliation of customer funds. Although this procedure has extended the process of returning funds, it has also made it possible to ensure the transparency and accuracy of the settlement with customers. UAB PAYRNET has informed the Bank of Lithuania about this and assured that it is making every effort to settle with customers in the shortest possible time.
For all questions on the settlement terms and procedure, please contact the company directly by email to ten.ryap@troppus-nrutersdnuf or an agent who provided services on behalf of UAB PAYRNET. More updated information on the settlement procedure is available at UAB PAYRNET’s website. The funds are to be returned to the accounts specified by clients opened with credit or other electronic money or payment institutions.
Please note that in accordance with legislation, following the revocation of the licence of UAB PAYRNET, the Bank of Lithuania is no longer authorised to settle individual consumer disputes related to this institution. In case of any disputes regarding the provision of payment services, their scope, the returning of funds or other issues, customers should apply to court.
The licence of the electronic money institution UAB PAYRNET was revoked on 22 June 2023 for serious violations.