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Information on the services and contractual relations after 1 january 2015

Please be informed that after the date of euro changeover, i.e. 1 January 2015, references to litas in all agreements and general terms and conditions will be construed as references to euro, calculated according to the official exchange rate EUR 1 = LTL 3.45280, and rounded to two decimal places in accordance with the Law on the Introduction of Euro in the Republic of Lithuania.

 

Please be advised that the commission fee will be charged in euro. For pricing in litas and euro, please visit the website of Medicinos Bankas at the page Service Charges, or refer to a pricelist of services and transactions kept in a visible place in the Bank’s subdivisions.

 

For your convenience, you can use an euro calculator on the website www.euro.lt, when converting amounts from litas to euro.

 

Please note that the introduction of euro does not affect the validity of your agreements, i.e. they will remain valid until the specified term and, after 1 January 2015, all previous payments in litas will be made in euro only.

 

General information related to individual financial transactions and services can be accessed on the website of Medicinos Bankas at the page Relevant questions about banking services.

 

Regarding funds in bank accounts, including deposits

On the date of euro changeover, i.e. 1 January 2015, funds held in your bank, deposit or other type of account corresponding to the subject matter of your agreement will be automatically converted from litas into euro for free, according to the approved conversion rate (EUR 1 = LTL 3.45280). The final amount will be rounded to two decimal places. These changes will not affect your bank account number.

 

Please note that the introduction of euro does not affect the validity of your agreements, i.e. they will remain valid until the specified term; however, after the date of euro changeover, you will not be able to make non-cash payments and keep accounts in litas. If you keep accounts in both litas and euro, you may close one or more of them free of charge before 1 March 2015 and transfer the funds to one or more of the remaining accounts of your choice.

 

Regarding credits and other financing services

After the date of euro changeover, i.e. 1 January 2015, credit payments must be made in euro only. The total amounts payable will be converted according to the official exchange rate EUR 1 = LTL 3.45280, and rounded to two decimal places.

 

Please be advised that after the date of the introduction of euro, references to VILIBOR Index included in your agreement will be construed as references to EURIBOR Index. Please be assured that the margin fixed for you will not increase due to the changes in the index value.

 

Also note that withdrawal of litas from circulation will not affect terms and conditions or the validity of your credit agreement. References to litas in the agreement or its annexes will be construed as references to euro, calculated according to the official exchange rate EUR 1 = LTL 3.45280, and rounded to two decimal places.

 

Regarding securities

On 1 January 2015, the value and number of securities in litas will be automatically recalculated free of charge in accordance with the requirements of the Law on the Introduction of Euro in the Republic of Lithuania:

  • Nominal value of a share in euro will be determined according to the total nominal value of shares of the same category and with the same nominal value in litas, i.e. by dividing the latter by the official exchange rate of euro and litas, and by the number of these shares, and by rounding the obtained value to two decimal places.
  • Nominal value of all securities issued by the Government of the Republic of Lithuania will be converted into euro according to the identification code of issue of each type of security: by dividing the total nominal value of all securities kept in an individual account of particular investor by the official exchange rate of litas and euro, multiplying the resulting amount by 100, and rounding the obtained value to the whole number. The resulting value will be the total number of securities of the investor with a nominal value of one euro cent.

 

 

 

For any questions, please contact your Customer Service Manager.
General information related to the services of Medicinos Bankas is provided by phone (8 5) 264 4800 (I-IV 7:30 a.m. to 4:30 p.m.; V 7:30 a.m. to 3:15 p.m.) or by e-mail [email protected].
Relevant information on the introduction of euro is provided by free euro line 8 800 34528 daily from 8:00 a.m. to 6:00 p.m. and online at www.euro.lt.

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