Important notice of changes in your customer relationship with Danske Bank 

By 1 Oct, all business customers’ credit agreements will be serviced through our Lithuanian branch

Following the decision to close down Danske Bank’s banking activities in Estonia, starting 1 October 2019, all business customers’ credit agreements will be serviced through the Danske Bank A/S Lithuania branch.
The transfer comprises all customer data and related agreements, including any valid Danske eBank agreement.
The agreements remain valid under the current terms and conditions, so that only the credit servicing account will change.
You can find answers to the most frequently asked customer questions HERE.

Detailed product or service information

Bank Accounts

  • Accounts

    What should you know?

    • Current Account agreement will be terminated according to the information that Bank have provided in the relevant letter.
    • If any funds (either monetary funds or securities/financial instruments) remain in your account(s) after termination of the agreement, those will be transferred into bank’s internal accounts and you will have to submit an application at the Business Centre of the bank in order to transfer the funds.
    • If during 1 (one) month from closing the Account, the bank receives a payment in your name, the bank will transfer it to the other account of yours (should you have submitted relevant data to the bank). After that period, the bank will return the received amount to the payer.

    What should you do?

    • We recommend you to transfer your current account balance to your account with another service before the current account closure. If any funds remain in your account(s) after termination of the agreement, you will have to submit an application at the Business Centre of the bank in order to transfer the funds. The remaining funds can be only transferred to an account opened to your name with other financial institution in European Economic Area country.
    • Please notify other bodies and persons who make payments to your account about the new account number you have with another payment service provider (e.g. Tax and Customs Board).
    • You can terminate the current account agreement and related agreements earlier by sending us a free-format application in Danske eBank or an e-mail to avaldus@danskebank.ee with a digitally signed application, which can be found here.

Credit servicing

  • Credit servicing account

    The Bank will continue to serve your credit facilities (e.g. credit, lease agreements etc.) and the repayment schedules remain unchanged.

    If your account in Danske Bank has been closed or it will be closed during the next couple of months, and if you have a valid credit agreement, you should transfer all your payments to the special Credit servicing account.

    You can read more about changes of credit servicing here.

    What should you know?

    • If your credit repayments have so far been conducted via your bank account, you will now have to pay them via the Credit servicing account.
    • The account number for the Credit servicing account was provided to you in a letter. You can also see this number in Danske eBank.
    • This account belongs to the Danske Bank and it is in the name of the bank. The only intended purpose of use of this account is to service the credit agreement(s) concluded with you. The Credit servicing account is opened for credit repayment purpose only. The account is not intended for money depositing or other daily banking services.
    • All obligations of the credit agreements, e.g. principal payments, interest payments, commitment fees, payments under the lease agreement, repayments of the used credit limit of the credit cards and related fees, possible fees, fines for delay etc. should be paid to the Credit servicing account.
      Beneficiary: Danske Bank A/S Estonia Branch
      Account number: the Credit servicing account number that was sent to you
      Payment details: (for example) Fulfilment of credit agreement
      The payment has no reference number.
    • If the insurance premium of the insurance agreement related to the credit agreement pertain to be paid to the bank, or if you have to pay any guaranty payments for Kredex or MES, please transfer these payments also to the Credit servicing account.
    • Please make the payments to the Credit servicing account according to the credit agreement repayment schedule and actual contractual payment obligation.
    • The payments received to the Credit servicing account are considered as performance of the credit agreement payment obligation according to the dates provided for in the credit agreement payment schedule (not when the payment arrives to that account). In case of several obligations, the payments will be debited according to the sequence of their contractual performance.
    • The bank has the right to return partial or full payment made to the Credit servicing account, if the bank considers it not to meet the purpose of performing the credit agreement (for example if the overpaid amount is significantly larger than it is needed for a few next regular payments).
    • If you have the valid electronic services agreement, you will find information on the credit agreement(s), notifications on changes in base interest and schedules of valid interest period from Danske eBank. It is also possible to view the Credit servicing account and the payments made through it in Danske eBank. If you do not have a valid electronic services agreement, you will continue to receive information via e-mail or mail.
      If you do not have an access to Danske eBank, please contact the bank for the agreement.
    • The credit agreements or collateral agreements may provide obligations about owing the current account in Danske Bank. The Bank confirms that from now on all such obligations are void and there is no need to perform these obligations

    What should you do?

    • Please follow the credit agreement payment obligations and the deadlines closely.
    • We recommend making the necessary payment one weekday before the deadline of the payment obligation. Thus you will avoid possible misunderstandings with the delay in arrival of the payment, emergence of arrears and calculation of default interests.

    Please contact the bank if:

    • The contractual loan has not been fully paid to you and you wish to receive the payment of the loan amount.
    • If you want to perform the credit agreement earlier. Otherwise, the bank may find that the sum transferred to the Credit servicing account is not necessary for the performance of current payment obligations. Hence the bank may return this sum to the payer.
    • Your credit agreement will soon be expiring and you have to agree on the next steps for deleting the pledge (e.g. deleting the mortgage or commercial pledge).

Digital services

  • Electronic services

    What should you know?

    • The Electronic Services Agreement concluded with you will be deemed to be terminated according to the information that Bank have notified. If You have credit product or securities or other financial instruments in your custody account in the Bank, the Electronic Services Agreement will remain valid, but the usage of electronic Electronic Services is limited.
    • Danske eBank orders, that will be unexecuted until current account agreement will be terminated, will be rejected.
    • Danske Telephone Bank and SMS Notification services will be terminated according to the information that Bank have notified.

    What do you have to do?

    • We recommend that you download or print out your account statements for the last one to three years from Danske eBank.
    • Please make sure to keep a copy of necessary payment templates or payees, as they will no longer be accessible.
  • Bank Link (authorization and payment services)

    What should you know?

    • Bank Link agreement will be terminated according to the information that Bank have notified.

    What do you have to do?

    • Make sure you remove option to use Danske Bank Link from your webpage.

Payments & cash management

  • Payment orders

    What should you know?

    • You will be able to make payments to and from Danske Bank accounts without any interference until 5:00 p.m. on the day before the current account closing.
      If you would like that during 1 (one) month from closing the Account, the bank will accept incoming payments in favour of closed account and will transfer it, you need to provide your new account number to the bank.

    What should you do?

    • Please notify other bodies and persons who make payments to your Danske Bank account about the new account number you have with another payment service provider.
  • All other daily banking services and agreements

    What should you know?

    • On the date of the closing account the Bank will stop also offering all other services related to the current account (Standing Order, E-invoice intermediation service, E-invoice receiving service, E-invoice automatic payment, payments with future date, Sweeping/Topping, Currency exchange, Payment package, Special fees) and terminate the respective agreements (if any) for the use of these services. For detailed information, please contact your relationship manager.
    • Monthly charging service agreement will be terminated few days before account closure. Fee for used services under this agreement will be debited on the same or next day after agreement termination. After agreement termination all fees (incl. Bank Link payment fees) for services will be charged after each operation (on-time).
    • The Bank will not charge a monthly fee in August 2019 for Payment package agreement.

Savings & investments

  • Agreement on investment services (Securities account)

    What should you know?

    • Agreement on investment services will be terminated according to the information that Bank have notified.

    What do you have to do?

    • If your account contains securities or other financial instruments, you have to open new securities account with other service provider.
    • Please provide order to transfer securities from your account in the Bank to another service provider.

Trade Finance

  • Guarantees

    What should you know?

    • All Danske Bank’s issued guarantees will remain in force until its maturity dates.
    • Danske Bank does not issue new guarantees.

    What do you have to do?

    • If your account in Danske Bank has been closed or it will be closed during the next couple of months, and if you have an outstanding guarantees, you should transfer all your guarantee’s usuance commission payments to the Credit servicing account. For more detailed information please read Credit servicing section.
  • Documentary Credits
    • What should you know?
    • All Danske Bank’s issued Import Documentary Credits will remain in force until its maturity dates.
    • Export Documentary Credits service will be terminated and no new transactions will be advised.

    What do you have to do?

    • If your account in Danske Bank has been closed or it will be closed during the next couple of months, and if you have an outstanding import Documentary Credit, you should transfer all your documentary credit’s usuance commission payments to the Credit servicing account. For more detailed information please read Credit servicing section.
    • For Export Documentary Credits please contact your partners to require them beforehand to route their Documentary Credits to your other chosen bank.
  • Documentary Collections

    What should you know?

    • Import Documentary Collections service will be terminated and no new transactions will be accepted.
    • Export Collections service will be terminated and no new transactions will be accepted.

    What do you have to do?

    • Please contact your partners to require them beforehand to route their Import Documentary Collections to your other chosen bank.
    • Please present your Export Collections to your other chosen bank.
  • Guarantees (received and advised)

    What should you know?

    • Bank guarantees (received and advised - Export) service will be terminated and no new transactions will be advised.

    What do you have to do?

    • Your Buyer/Partner willing to issue a guarantee to you should be informed to advise his guarantee through your other chosen bank.

Markets

Transfer and termination of services

  • Terminating daily banking services

    If you wish to transfer your payments and terminate service agreements, the most convenient way to do so is by submitting an application (in free format) in the Danske eBank.

    Before closing the account you can print out or download account statements from the Danske eBank.

    If you wish to terminate an existing service agreement with Danske Bank, you can apply to close your current account:

    What should you know?

    • If any funds (either monetary funds or securities/financial instruments) remain in your account(s) after termination of the agreement, those will be transferred into bank’s internal accounts and you will have to submit an application in order to transfer the funds.
    • If during 1 (one) month from closing the Account, the bank receives a payment in your name, the bank will transfer it to the other account of yours (should you have submitted relevant data to the bank). After that period, the bank will return the received amount to the payer.
    • Please notify other bodies and persons who make payments to your account about the new account numbers you have with another payment service provider.

    IMPORTANT INFORMATION

    General conditions (pdf)
    Standard terms and conditions of the current account agreement (pdf)
    Privacy notice (pdf)
    Depositor information sheet (pdf)
    Questionnaire for the Legal Entity (pdf)

    Application for termination of a current account agreement and agreements related to the current account (PDF)
    Closed account balance transfer application (PDF)
    Payment order for the payments received on closed current account (PDF)


  • Termination of Danske Bank link agreement
    Make sure you remove the bank link from your webpage.

  • Termination of e-invoice forwarding agreement
    In order to terminate the agreement, please contact your customer relationship manager or write to ariklient@danskebank.ee.
  • "Know Your Customer" questionnaires

    According to the current anti-money laundering and tax administration legislation and the overall know-your-customer principle, banks find it essential to maintain an overview of their customer base. This applies to you too, despite that your account (-s) have already been closed or are due to be closed soon. That is why we are periodically seeking further information on your personal data, economic activities and individuals related to you.
    As long as you have a payment obligations under the credit agreement or have financial instruments/securities held in the Bank, you are obliged to submit the required information to the Bank, even if your account in Danske Bank has been closed or it will be closed during the next couple of months.

    You can fill-in the questionnaire in two ways:
    1. You can fill it in and submit online, on Danske eBank. The form is available under the “Information & Settings” tab, or under the link www.danskebank.ee/businessadditionaldata
    2. Download the form from www.danskebank.ee/businessadditionaldata, fill it in offline, sign digitally and return it to info@danskebank.ee.

    Please make sure that the questionnaire is signed by the private individual who is the account holder or the authorised representative.