2014-12-01
Measures to facilitate euro adoption projected; however, residents must prepare as well
Already on the first day of 2015, when the euro will be adopted in Lithuania, the residents will be provided with the opportunities to exchange their currency: apart from the ATM network, it is projected that about 40 commercial bank branches will operate in all counties as well as the Cash Offices of the Bank of Lithuania — in Vilnius and Kaunas.
“Usually bank branches do not work on January 1st; however, we have agreed with banks that, after the adoption of the euro on the first day of the next year, conditions will be created to exchange currency in all county centres. Al least one bank branch will operate there. Beside usual work on January 2nd, many more bank branches will operate on the first weekend of the New Year than usual,” says Vitas Vasiliauskas, Chairman of the Board of the Bank of Lithuania. On January 3rd, Saturday, almost half, on January 4th, Sunday, — one-fifth of commercial bank branches will operate.
While Lietuvos paštas will not operate on January 1st, already on January 2nd and on the first Saturday of the next year, on January 3rd, 330 post branches will work at different locations in the country as on a normal working day, while on Sunday — as on Saturday. All these measures will create more favourable conditions for currency exchange on the first days of 2015 in more remote locations.
Longer working hours of bank customer service divisions are also projected — some banks have already announced about this, others have granted the right of decision to extend the working hours for 1–2 hours to the manager of each division, and they will make a decision, where necessary. The branches of Lietuvos paštas will work for 2 hours longer all January.
ATMs will be supplied with low-denomination banknotes.
“Residents, in seeking to change over to the euro as smoothly as possible, should take notice of a few things. First — all matters at bank branches, including those related to payments, should be handled as soon as possible, as on the last day of this year they will operate shorter. Until the euro adoption it is most convenient to hold litas in accounts, while should you have litas cash after the euro adoption, where not necessary, it is not worth rushing to exchange it on the first days due to likely queues. You will be able to exchange it at banks and post offices free of charge long after the euro adoption and at the Bank of Lithuania — for unlimited time. And, of course, you should beware of swindlers proposing to exchange currency in the street or at home,” says V. Vasiliauskas.
In order to speed up customer service, banks have projected various organisation measures, including shifting of staff to work with cash, additional employment of staff, mobile groups, which will be sent where the largest loads are, additional cash handling devices such as coin counting and collection. Queue management systems are being re-programmed, projecting cash exchange as the priority; additional counters for work with cash are being fitted out.
According to the information provided by banks, most POS-terminals and ATMs, during the euro adoption, will function without a significant interruption; however, it is advised to have some cash on the New Year's night just in case.
The working hours of all currency exchange sites will be announced on the website euras.lt; people will also be able to find it out upon calling the toll free telephone 8 800 34528.