Information about termination of services

As we have previously notified, Danske Bank has decided to focus its activities in the Baltic States exclusively on servicing subsidiaries of Danske Bank Group Nordic customers and global corporates with a significant Nordic footprint.

The decision is strategically based on our overall ambition to focus on customers in the Nordic region. In the Baltics, subsidiaries of Nordic customers and global corporates is the customer segment where we can offer the best solutions and provide the most value. According to this strategy Danske Bank A/S will no longer be able to offer financial services for local Baltic businesses and private customers.


Bank accounts

  • Accounts

    What should you know?

    • The current account will remain open until we state otherwise.
  • Savings account

    What should you know?

    • The Bank will terminate your Savings Account agreements on the 2nd of February 2019.
    • Savings amount and interests (regular and if applicable additional interest) will be transferred to your current account on the 2nd of February 2019

Credits

  • Credits

    What should you know?

    • All credit contracts shall remain valid and unchanged.
    • If your assets are pledged in favour of Danske Bank but they do not secure any obligations, please contact us to agree on next steps.

Payment cards

  • Debit cards

    What should you know?

    • If the payment card agreement is associated with the account, and a valid debit card is issued based on it, we will terminate that agreement and close the debit card on 1 February, 2019.
    • If you need a new debit card to use the overdraft granted to you by the bank under a valid overdraft, then please contact to the bank for receiving new debit card.
    • Monthly administration fee (if applicable) calculation will be stopped immediately after card is stopped and fees will be written from the account, so please make sure that there will be enough funds for fee debiting.
    • Travel insurance (if applicable) will be valid till end on insurance expiration.

Digital services

  • Electronic services (Danske eBank, Danske mBank, Telephone bank, SMS notifications, Consolidated payments)

    What should you know?

    • Danske Telephone Bank service will be terminated from 2nd of February, 2019.
    • SMS notifications service will be terminated and you will not receive any new messages from 2nd of February 2019.
    • Danske mBank service will be terminated from 2nd of February, 2019.
  • Bank Link (authorization and payments services)

    What should you know?

    • Bank Link agreement will be terminated on the 2nd of February 2019.
    • Starting from the 2nd of February 2019 you will not be able to provide your customers with authorisation and payment services on your portal through Danske eBank.

    What should you do?

    • Make sure that information on your portal regarding Danske Bank Link will be removed and possibility to pay or log in using Danske eBank would be disabled by 2nd of February 2019.

Payments and Cash Management

  • Payment orders

    What should you know?

    • You will be able to make payments to and from Danske Bank accounts without restrictions until your account remain open.
  • E-invoice

    What should you know?

    • Receipt of e-invoices shall be valid until your account remain open.
    • E-invoice automatic payment service agreement will be terminated on 2nd February 2019.
    • In case unpaid e-invoices and if the payment day indicated in automatic payment service agreement is later than 1st February 2019, respective payment must be initiated by customer (automatic payment will not be executed).
    • If you will receive e-invoices after 1st February 2019 all respective payments must be initiated by customer.

    What should you do?

    • Please subscribe e-invoices and, if desired, their automated payment by other bank. We recommend that you do this before 31st of December 2018. This will prevent the invoices from remaining unpaid.
    • In order to transfer e-invoices to another bank, you must place a new e-invoice order with your service provider (e.g. magazine retailer).This can be done in your new bank's Internet Bank or at their branch or at a branch of the service provider. After receiving the new e-invoice order, the service provider will forward your e-invoices to your new bank (and stop sending them to Danske Bank).

  • Standing Order

    What should you know?

    • Standing order agreement will be terminated on the 2nd of February 2019.
    • The last payment debited from your bank account and transferred to the payee will be executed on 1st February 2019.

    What should you do?

    • We recommend you to conclude respective agreements with another payment service provider if you want to keep standing order service.

Savings and Investments

  • Term Deposits

    What should you know?

    • The Bank will terminate your Term deposit agreement on the 1st of February 2019, except pledged deposits which is used for credits as collateral.
    • Deposit amount and interests until the maturity will be paid to your current account on 1st February 2019.
  • Agreement on investment services

    What should you know?

    • The Bank will terminate your Agreement on Investment services on 2nd of February 2019.
    • Orders to buy securities will be rejected starting from 30th of January 2019.
    • Securities transfers to your account with other service provider and redemption of Danske Invest funds will be free of charge until the 2nd of February 2019.

    What should you do?

    • If your account contains securities or other financial instruments, we recommend you to open new securities account with other service provider.
    • Please provide us with an order to transfer your securities to your account with other service provider by 1st of February 2019.

Agreements on currency exchange, money market and derivatives transactions

  • Agreements on currency exchange, money market and derivatives transactions

    What should you know?

    • According to the clause 18.5 of the Standard terms and conditions of the Master agreement on derivatives, the bank will terminate this agreement (if applicable) concluded with you from February 2, 2019.
    • According to the clause 7.4 of the Standard terms and conditions of the Agreement on Currency Exchange Services by Phone, the bank will terminate this agreement (if applicable) concluded with you from February 2, 2019.

Pricing

  • Monthly charging service

    What should you know?

    • Monthly charging service will be terminated from 2nd of February 2019.
  • Special pricing

    What should you know?

    • Special pricing will be terminated from 2nd of February 2019.

Call us at 6 800 800 or contact your Relationship Manager if you have any questions.