On Sep. 13, LTH CB approved procedure for calculating service basket.
LTH CB Board announced the approval of the procedure for calculating the composition and pricing of the basic payment account's basket of services.
Basic Payment Accounts
Minimum amount of cash withdrawals included in the payment service basket, minimum number of electronic transfers and maximum monthly commission that credit institutions (banks/credit unions) can charge the user for this basket will be calculated.
Specific amounts for 2025-27 will be approved after this description comes into force.
In the summer, LTH PRL adopted the proposals of LTH CB and Ministry of Finance on changing the composition of basket of services of the basic payment account and price.
Amendments to the Law on payments fixed the maximum commission that a credit institution can receive, it is tied to the minimum monthly salary.
From the beginning of next year, a regulated basket of services will cost approximately €1, while deprived residents will be granted a 50% exemption.
Currently, the basket of payment services costs €1.47, for deprived residents €0.73.
Sep. 24, 2024 Basket Price and Composition Approved
On Sep. 24, 2024, LTH CB announced that its Board approved price and composition of the basket of services of the basic payment account for the period 2025 to 2027.
Residents using this service will be able to withdraw more cash from ATMs and make more payment transfers, while the basket itself will cost less than at present.
From Jan. 1, 2025, the regulated basket of services will be one-third cheaper at €1 per month, and €0.50 for deprived residents, the current rates are €1.47 and €0.73.
Residents will be able to withdraw €800 per months from ATMs, €250 (45%) more than now, in addition, 15 payment transfers will be possible (rise from current 10).
The amount of cash and number of transfers have been calculated to ensure that this level of service meets the needs of 90% of the country's population with an account.
Basic payment account basket also includes: account opening and management; e-banking; crediting of euro payments received; cash deposits at ATMs; payment card.
Price and composition of the basket is fixed for a period of 3 years, providing stability.
The composition of basic payment account basket approved by LTH CB includes the minimum payment services, consumers are free to choose whether to use the basket of services of basic payment account or other baskets of services offered by providers.
New price and composition of basic account basket of services in force Jan. 1, 2025.
