Amendments to the General Service Rules of Nordea Bank Lithuania

Dear Clients,

Please be advised that the General Service Rules of Nordea Bank Lithuania (hereinafter General Service Rules) will be amended as of 1 December 2015. The amendments are highlighted in bold. You can access the updated General Service Rules here.

The main amendments of the General Service Rules were made because the direct debit service will no longer be available from 1 January 2016 as it does not comply with the requirements of the Single Euro Payments Area (SEPA). This service shall be replaced by a new account payment service – the e-invoice – which will create, send, record and store payments in an electronic environment (hereinafter referred to as the e-invoice).

Please be advised that:

• Payers' direct debit agreements will no longer be valid from 1 January 2016. If the relevant service provider decides to provide the e-invoice service, direct debit agreements submitted by payers will be automatically changed to an e-invoice submission service contract with automatic payments.
• You can order the e-invoice from the relevant service provider (payee) via internet banking or at the bank's branch (if the contract between the bank and the service provider provides for ordering e-invoices at the bank). E-invoices will be provided to payers through online banking systems.
• Payers can pay their e-invoices each time with individual payment transfers, through automatic credit transfers, or in other manners agreed upon with the respective service provider (payee).
• Automatic credit transfers are fund transfers initiated by the client in advance and executed by the bank according to the client’s order to pay for e-invoices submitted by the service provider.

For clarity purposes, the General Service Rules are also supplemented by the provisions on the application of special commission fees for the employees of companies that have signed cooperation contracts with the bank regarding salary transfers and/or the issuing of cards.

In compliance with international treaties, agreements and legislation requirements regarding the discharge of tax obligations and the exchange of automatic taxation area information, the General Service Rules have been complemented with provisions about the processing of data and its transfer to competent authorities.

Please note that if the amendments to the General Service Rules do not meet your interests, you are entitled to immediately, and without paying any commission fee, terminate the General Service Rules and/or to refuse the appropriate service before the effective date of the General Service Rules. If you do not notify the bank of your objection to the amendments of the General Service Rules, it shall be assumed that you have accepted the amendments.