Latvia will join the Euro zone as of 1 January 2014. For that reason, Citadele Bank will be resetting its ATMs, SMS bank and Online banking system to the euro. There will be a thirty-minute interruption in ATM services immediately after midnight. Citadele's Online banking and SMS banking services will not be available for a certain period of time. Clients will be able to use their Citadele payment cards without interruption, however.
Resetting ATMs in Latvia
- Citadele ATMs will be operational until midnight tonight, issuing lats;
- At midnight, the ATMs will gradually be reset for the euro, and that means that there will be an interruption in ATM services for half an hour after midnight;
- At 12:30 AM, Citadele ATMs will once again be operational, issuing euros;
- It is planned that sums in client accounts, as denominated in euros, will be visible at 7:00 AM on January 1.
Resetting the Online banking system (important for clients also outside of Latvia)
- Until 11:59 PM on December 31, the Online banking system will be available for viewing, but not for any transfer or other operations;
It is essential to understand that the Online banking system will be completely shut down from midnight until noon on January 1, which means that you will not be able to access it at all ;
- From noon on January 1 until 7:00 AM on January 2, the Online banking system will be visible, and money in accounts in lats will be shown in euros. Deposits and loans will be visible on the Online banking system after 7:00 AM on January 2;
- Online banking operations will be fully back in place at 7:00 AM on January 2.
Resetting the SMS banking system
- Citadele SMS banking system will continue to be operational in the accustomed regime until the turn of the year;
- Once the transfer of the SMS baking system to the euro occurs on January 1, there will be an interruption in operations from midnight until noon;
- SMS banking operations will be renewed at noon on January 1.
To ensure that the transfer to the euro is convenient, Citadele asks its clients to make payments with their Citadele payment cards. The use of such cards in Latvia and abroad will not be interrupted at all. Should a payment be refused, please wait for a moment and try again. Beginning on January 1, all payments with payment cards in lats will occur in euros.
On January 1, all of the lats in client accounts will automatically be converted to the euro in accordance with the official exchange rate (EUR 1 = LVL 0.702804) and without a commission fee.
More information about the availability of Citadele services in relation to the transfer to the euro can be found here: www.citadele.lv/euro/en
About Citadele Bank
Citadele is a local Latvian bank that offers banking, financial and asset management services. Citadele group is represented in the Latvian market as well as in 8 other countries. Citadele Bank is the only collaboration partner of American Express in Latvia and Lithuania who is entitled to issue American Express credit cards. In 2012 the bank was recognized as the best-governed state-owned enterprise in the Baltic States according to a study conducted by the Baltic Institute of Corporate Governance. Citadele's vision is to become the most valuable local financial group in the Baltic States. 75% minus one Citadele Bank's shares are possessed by the State Joint Stock Company Privatization agency on behalf of the Latvian State and the owner of 25% plus one share is the European Bank for Reconstruction and Development (EBRD).