Important notice of changes in your customer relationship with Danske Bank 

Danske Bank closes down its banking activities in the Baltics

In February 2019 Danske Bank took the decision to close down the banking activities in Estonia, Latvia and Lithuania.
These changes will affect all customers of Danske Bank Estonia, Latvia and Lithuania.
You can read more about this change in Danske Bank’s stock announcement here.

We will continue servicing as usual until further arrangements are in place

The duration of the close down period will be individual for each market, however, we expect all our banking activities in the Estonia to be terminated within the next 8 months.

How does this affect your customer relationship?

  • Nordic customers and global corporates with a significant Nordic footprint
    Closing down implies that we will no longer be able to enter into new financial arrangements with you in Estonia, Latvia or Lithuania. We will continue to meet any of our obligations in the sense that existing day-to-day business products will continue to be supported until further notice.
  • Local business and private banking customers
    In the last months we have been in contact with you regarding termination of contracts and agreements with Danske Bank. Announcement does not change the course or the content of it. Please be reassured that we will fulfil all our obligations that we have to you as our customer and we will pursue our previous agreements with you.
    Please serve Your credit agreement as communicated previously until further notice.
  • You will be informed well in advance
    Over the next few weeks, we will contact all affected customers to clarify the impact this decision will have on each product or service you currently hold with us in the Baltic markets.

Credit servicing

  • Credit servicing account

    In the last months we have been in contact with all local business and private customers regarding termination of contracts and agreements with Danske Bank. Danske Bank’s decision to close down banking operations in the Baltic countries does not change the course or the content of what we communicated to you earlier.
    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.

    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 from now on 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 and an e-invoice cannot be ordered.
    • 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).

Transfer and termination of services

  • Terminating daily banking services

    Daily banking services in Danske Bank can be terminated either by service or when closing the current account. If you wish to transfer your payments and terminate service agreements gradually, the most convenient way to do so is by submitting an application (in free format) in the Danske eBank.

    So you can send us applications for terminating debit cards and payment package agreements.

    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.
  • Corporate loans, trade finance, leasing and collateral
    Danske Bank does not issue new loans, leases or trade finance products to local companies.

    Credit agreements already entered into remain valid under the agreed conditions.

    For all issues related to credit agreements, please contact your customer relationship manager or write to ariklient@danskebank.ee.

    If a collateral has been established in favour of Danske Bank (mortgage, commercial pledge, securities pledge, etc.) which does no longer guarantee any contracts, and you wish to delete or transfer this collateral, please contact your customer relationship manager or write to ariklient@danskebank.ee.

    Exception to applying the special condition of credit contract

    In the case of loan agreements, the standard terms and conditions of which include the obligation of a borrower to conduct their transactions via a current account in Danske Bank, the Bank does not consider the failure to perform this obligation a breach of the agreement. This means that the current account related with the agreement must have sufficient available funds on the repayment date for performing the contractual obligations and the borrower can make all other settlements at any credit institution.
  • "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.