The population would like to have more cash also because of the war: but they resent having to pay the bank for it


Kristina of the portal complained that cash can be withdrawn from the bank only for a certain fee.

“I have accounts with several banks and all of them have a limit on how much cash I can withdraw from the card. However, certain, sometimes larger, purchases have to be made at the market. There, sellers usually ask to pay in cash.

Now I can withdraw just a few hundred euros from my bank card for free, but what if I decide to buy a used car for cash? After all, a few hundred euros won’t be enough for him,” the woman complained.

According to her, it is also advisable to have more cash at this time due to the threat of war.

“It is said and written everywhere that it is necessary to have a backpack with essential items and non-perishable food, and in it – cash. But the banks don’t seem to care. If we want to have cash, we have to pay for it ourselves.

After all, money reserves should be taken care of now, not in the event of a disaster or war,” the woman thought.

According to her, residents must take care of themselves and pay for it.

“If I thought of going to the bank and taking all the money, they wouldn’t even give it to me. I should explain where I will spend them. And only then I could pick them up for a fee.

And if I’m not going to let them go anywhere, I just want to have them?” – asked the woman.

The fee depends on the plan

Eglė Dovbyšienė, a member of SEB’s board and head of the Retail Banking Service, said that the pricing of bank services continues to be structured in such a way that it would be most useful and convenient for customers to use everyday banking services by choosing one of the service plans provided by the bank – this is cheaper than using individual bank services .

“From April 9, when we update our bank service plans, cash withdrawal limits for customers will increase. Depending on the selected plan, customers will be able to use it from 550 EUR/month. (minimum plan) up to 2 thousand EUR/month (premium plan) within the cash withdrawal limit.

We increase these limits based on inflation, the rising cost of living and customer preferences. This limit is valid not only at our bank’s ATMs, but also when withdrawing cash in Lithuania and abroad. This means that customers do not need to look for an SEB ATM and can withdraw cash wherever they are comfortable,” commented the representative of the bank.

E. Dovbyšienė calculated that if the cash withdrawal limit, which is part of the service plan, is exceeded, 2 percent will be applied. (minimum 1 euro) rate.

If a person wants to withdraw another 100 euros, he will have to pay 2 euros.

“The bank’s rates are set and changed after assessing the market situation, incurred costs of providing services, ongoing investments in the improvement of information systems and digital and self-service solutions, prices of various resources,” explained the representative of the bank.

Customers pay for ATM administration

Aušrinė Mincienė, head of Luminor Bank’s Daily Banking Products Department, calculated that all private bank customers have the opportunity to withdraw a certain amount of money for free every month, and fees apply only if it is exceeded.

“The limit depends on the customer’s payment card.

Holders of the Luminor Debit card can withdraw up to 600 euros per calendar month for free, after which 0.2 percent must be paid. from an amount exceeding 600 euros. Holders of the Luminor Black card can withdraw up to 1.2 thousand for free. EUR per calendar month from Luminor, Medus and ATMs and EUR 400 from ATMs of other banks. After that, 2 percent is paid. from the amount exceeding 1.2 thousand euros”, commented the representative of the bank.

So, if a person who has exceeded the limit wants to withdraw an additional 100 euros, he has to pay a fee of 2 euros.

According to A. Mincienė, withdrawing money from an ATM is a service that incurs significant operating costs, including maintenance of ATMs, ensuring regular cash replenishment, comprehensive administration and customer service.

“These processes are very important to ensure smooth and secure access to funds,” the bank’s representative assured.

Young people do not use cash?

Gytis Vercinskas, the representative of Swedbank, assured that customers with a service plan, of which the absolute majority in the bank are, can withdraw from 550 to 1.5 thousand for free at ATMs. euros per month. The exact amount depends on the selected service plan.

If you do not choose a service plan or exceed the mentioned amounts, a minimum of 0.5 percent is applied. fee from the amount to be cashed out (the minimum fee is 0.5 euro). We have set these limits taking into account the needs of our customers, the value of the benefits offered to them and the costs of maintaining and servicing the ATM network,” the bank’s representative commented.

If a person wants to withdraw another 100 euros, he has to pay 0.5 euros.

According to G. Vercinskas, after the spread of electronic payment possibilities in trade and service places, as well as the emergence of various electronic payment methods, such as contactless cards or e. wallets, the population’s need to constantly have cash is decreasing.

“As our data shows, the free limit provided by the bank is completely sufficient for most of the bank’s customers. It is also interesting that, for example, almost a third of young people under the age of 24 age did not cash in at all during the past year. This trend has been particularly strengthened by the popularity of contactless payments, which are a more convenient and faster method of payment than cash.

We usually recommend that residents have an amount in cash that is enough for several weeks of small daily payments. In a common case, this would be an amount worth 100-200 euros. One of the reasons is that residents sometimes lose or block their payment cards. Therefore, during that period – until a new or temporary bank card is issued – the person does not experience any inconvenience with the available cash,” warned the representative of the bank.

How much cash should you have and why?

According to E. Dovbyšienė, keeping money in cash increases the probability that it can be lost for a variety of reasons: it can be lost, it can burn or become a prey to fraudsters or thieves.

“However, we recommend having some cash for unforeseen cases. How much it is depends on the individual needs of each person or family. We advise you not to keep more money at home than would be enough to live on for a week or two, in case of unforeseen circumstances, and in your wallet no more than you normally need to go shopping at a store,” the bank’s representative calculated.

At that time, according to A. Mincienė, there is no single answer to the question of how much cash you should have and carry with you.

“The amount depends on the needs and interests of a particular person – for example, if a person likes shopping in the market, he will usually need more cash.

It is true that a public survey commissioned by us in the autumn of last year showed that only 15% pay for goods and services in cash. of the Lithuanian population, and 60 percent of those interviewed carry up to 50 euros in cash in their wallets every day,” said the representative of the bank.

The article is in Lithuanian

Tags: population cash war resent pay bank


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