Banks and credit unions must ensure that all basic payment services are offered to consumers for no more than EUR 1.5 per month, for low-income residents – no more than EUR 0.75. Such a fee was set in line with the methodology approved by the Bank of Lithuania. The set price cap will be reviewed each year. Consumers will be able to freely choose whether to take advantage of the basket of services linked to the basic payment account.
Basic services included in the Bank of Lithuania-approved composition of the basic payment account basket, which would be provided on a monthly basis at no additional costs, are:
opening of an account;
e-banking, a secure mean of logging into and managing the account (code card and SMS messages, code generator, etc.);
unlimited crediting of payments received in euro;
unlimited depositing of cash using a method selected by a credit institution;
payment card and payment transactions using a card;
no less than 10 online transfers of any kind in euro per month, including utility and bill payments, e-invoice payments, transfers within an institution and to other payment service providers, direct debit transactions;
cash withdrawals – no less than EUR 550 per month within the network of the bank’s ATMs or in the manner selected by a credit union.