Updated General Conditions for the Use of Payment Cards Come into Effect

2017-02-28

Dear Customers,

We want to inform that the General Conditions for the Use of Payment Cards of Šiaulių Bankas AB are being updated. The new version of these conditions comes into effect on 1 March 2017. For the clients who concluded the payment card agreements until 28 February of this year, the conditions shall come into effect on 1 May 2017.

Main Changes  

Some of the currently valid payment card agreement conditions have been transferred to General Conditions for the Use of Payment Cards, i.e.:

  • Conditions of credit repayment, interest and other fees (V. credit limit);
  • All part VI. Procedures of Total Credit Price and its Annual Percentage Rate Calculation;
  • Agreement withdrawal and termination conditions (VII. Agreement Withdrawal and VIII. Agreement termination).

The updated General Conditions for the Use of Payment Cards no longer include the account management and administration conditions, which are described in Payment service rules.

The new version of conditions includes the changed period of time after which the Bank has the right not to renew payment card, if the client’s account has not undergone any payment transaction (point 2.9):

The Bank has the right not to renew the Card if there is insufficient amount of funds to charge for the made Card, if during last 6 (six) months prior to the Card expiry date has not been carried out any of the Payment transactions.

We invite to access the detailed new version of conditions:

General Conditions for the Use of Payment Cards (PDF)

The new and previous version of these conditions is published also on the internet website of Šiaulių Bankas. You can get them free of charge at the every customer service point.

Please note that if changes in General Conditions for the Use of Payment Cards are not suitable for you, you have the right to terminate payment card usage agreements with Šiaulių Bankas without delay and free of charge until the date the conditions enter into force. Please note that in this case the obligations to the bank under the terminated contracts must be properly executed. By not receiving Your notice about the disagreement with the changes of General Conditions for the Use of Payment Cards, we shall assume that you agree with them.