From Luminor|Nordea to the unified Luminor system: what should you know?

This information concerns only Luminor private customers using account numbers beginning with LTXX21400 and users of Luminor|Nordea internet bank.

Read further if you have questions about logging in to the internet bank or other changes regarding the migration.

What does it mean?

Two banking systems merged into one. As a next step we need to move our data to unified platform – that means leaving legacy systems and moving all customers’ data to one system (i.e. we are going through a process of "migration").

How does it affect you?

Moving the data into another platform means that after the migration:

Here is how you should prepare!

End of February / beginning of March

End of February / beginning of March

Update your contact information.
Please check if we have your correct address and other contact information (you can check it in the Internet bank).
Check your e-mail or Internet bank – we will send the information about the exact migration date and how it is going to affect our private customers.

Latest in May

Latest in May

You will receive the new payment card.
Please put it inside your wallet so the card is available after the migration day.
Until after the migration you will not be able to use the new cards.

Few days before the migration on 26-28th of June

Few days before the migration on 26-28th of June

Make payments in advance and take out some cash if needed.
There will be interruptions with cards and internet bank during the migration weekend.

After the migration, from 29th of June

After the migration, from 29th of June

Start using your new payment card.
Start using Luminor | DNB Internet bank.
The new BIC code is AGBLLT2X – please inform your business partners and customers.


List of changes

Accounts

  • All accounts, which starts with LTXX21400, will be transferred to unified system.  Each of the transferred IBAN accounts in Luminor’s uniform system will become a multi-currency account (i.e. The same IBAN number can be opened in different currencies). The customer should individually decide which IBAN accounts they prefer to keep and use for various currencies, and which should be closed. You can close your account by calling 1608 or making a request on the Internet bank or at a Luminor Customer Service Center.
  • No interest will be paid for the Account(s) balance from migration month.
  • The indebtedness in the account will be covered once inflows are received into this particular account only. in cases where the balance in the account is insufficient to debit the fees, the amounts payable to the bank will be accrued and debited once inflows are received into any account.
  • Your Account(s) with the new number and Luminor VISA Card(s) will be governed by those provisions of the Payment Service Rules and the Pricelist that are applicable to the accounts having the number starting with LTXX40100.
  • If the transferred account(s) has any arrested/restricted amounts requested by third parties which are unpaid, and freely available amount is fixed for them, it will be unavailable on 27-28 of June 2020, but you will be able to use them as usually by visiting a Luminor Customer Service Center from 29  of June until 2 of July. From 3 of July 2020, freely available amount can be used as follows:  by withdrawing cash at an ATM in Lithuania and abroad; making payments at points of sale and service in Lithuania and abroad; making payments in online shops; making payments on Internet bank/mobile app.

Banking packages

  • We’ll transfer the business package you have at the start of the month of services migration. If you hold the accounts starting with LTXX40100, we’ll review the business packages applied to you and assign one of them – a larger business package, its content and type can be viewed and changed in Luminor | DNB internet bank or mobile bank;
  • If you are using a banking package that also contains a credit card, cash out limit in ATM will apply to all payment cards included in the banking package (both debit and credit).

Payment cards

  • Luminor Mastercard payment debit/credit cards will no longer be available. If you have any, we will make new Luminor VISA payment debit/credit cards for you and will mail them to the address specified on behalf of you to the bank.
  • The same old Mastercard card PIN code will be valid to the new VISA card.
  • New Luminor VISA debit card will expire in 03/2023.
  • New Luminor VISA credit payment card expiry date will be the same as appropriate Mastercard credit card.
  • If your MasterCard expires in 04/2020, the new VISA card will expire in 03/2023.
  • We will replace your MasterCard Platinum card with VISA Gold credit card, the charges applied to which are available in the Pricelist. We will refund the paid annual MasterCard Platinum card fee for unused period.
  • Priority Pass card held together with MasterCard Platinum card will expire from the day of service migration. New Priority Pass card, the charges applied to which are available in the Pricelist, can be ordered additionally at the Customer Service Center.
  • If you have PINS MasterCard, it will expire after the service migration, and the accumulation of loyalty points will stop.  Newly-issued VISA card will not participate in the PINS programme. Please note that before the migration of services, you can see the points accumulated with your PINS Mastercard on PINS self-service website and use them as usual.
  • Cash withdrawal and payment transactions limits will be changed. New limits for Luminor VISA payment  cards are available here.
  • Following migration of services, private clients will see credit card accounts on Internet or mobile bank and will be able to use the accounts same way as any other current accounts, i.e. to see balances in the account review window, to generate account extracts, to make usual credit transfers or cash withdrawal operations.
  • During the technical works related to the migration of the services and products:
      - money deposited through an ATM with a Luminor MasterCard debit card on 26th of June 2020 after 15:00, will be credited on 29th of June 2020, 9:00.
     
    - you will not be able to use Luminor MasterCard debit card from 26 June 2020, 22:00. You can use your new VISA debit payment card from 27 June 2020, 14:00

Account statements

  • By choosing an Account Statement on Luminor | DNB internet bank, you can view transactions performed during the past three years. You can get older account statements at the request submitted in the customer service outlet or on Luminor | DNB internet bank for the fee specified in the Bank's pricelist.
  • Accounts Statements that used to be submitted through the E-pay channel will be sent by e-mail after the migration of all services. Please verify whether the last used e-mail address is factually specified to the bank. You can do that on the Internet Bank or by phone 1608.

Payments

  • The payment templates created on Luminor | Nordea internet bank will be moved from the column “Register of Recipients” into Luminor | DNB internet bank column “My templates” which will be created until 3 March 2020. Payment templates created afterwards will not be transferred, we suggest that you create new templates in Luminor | DNB internet bank.
  • We will migrate agreements on standing orders. You’ll find them under Luminor | DNB internent bank’s column “List of Payments”. Historic payments performed under agreements on standing orders will not be migrated.
  • We will transfer unpaid e-invoices, valid automatic e-invoices payment agreements and will order receipt of e-invoices into Luminor|DNB.
  • We will not transfer payment orders created but not signed by you or payment orders with future payment date.
  • Funds will be credited in the beneficiary’s account in the same currency in which the payment transfer was received. If the beneficiary does not have a bank account in the currency specified in the incoming cross-border payment, it will be opened automatically. The customer will individually have to take care of the conversion of funds into the preferred currency. The funds can be converted as usual - on Luminor|DNB internet bank or at the nearest customer service outlet.
  • The procedure for determination of the limits on payment transactions on the Luminor|DNB internet bank will be changed. Limits will be set to user on all accounts the user manages.  We’ll set the following limits:
    Transaction limit – if it was set on Luminor|Nordea internet bank then the maximum limit from those made available to the user. If not, then the same as the daily limit;
    Daily limit – the maximum limit from those made available to the user;
    Monthly limit – unlimited. If needed, the customer her/himself should take care of its setting.

The requested limits can be changed/set by submitting the application on Luminor|DNB internet bank: Applications ->Document group: Other services -> Requests: Request to Change Transaction Limits on the Internet Bank.

  • From the services migration date Luminor bank will use only one SWIFT BIC code – AGBLLT2X. Please provide it to all of your partners and suppliers. Transfers with NDEALT2X  SWIFT code will not be available from the services migration date.
  • The cut-off times for extra urgent transfers in euros will be changed. The new cut-off times are applicable the same as to the accounts having the number starting with LTXX40100 and available here.
  • During the technical works related to the migration of the services and products, the internet bank and the mobile bank will not be available from 26 June 2020, 13:00. Acceptance of payment orders will be resumed from 29 June 2020, 8:00 via Luminor|DNB Internet bank.

Internet bank

  • To create a Smart-ID account, please choose Luminor|Nordea internet bank as the identification method and log in with the current authentication means (the instruction for downloading and using Smart-ID on the smart phone is available here or here).
  • If you have been using Nordea Codes application or code generator to log in to Luminor | Nordea internet bank, you’ll be no longer able to use them to log in to Luminor | DNB internet bank.
  • If you received your login codes to Luminor | Nordea internet bank during the period from 3 March 2020 till migration day, you will receive a new login code to login to Luminor | DNB internet bank. You will receive it at the bank’s customer service outlet. Customer service centres adresses available here.
  • If you use switching between countries on Luminor internet bank, you will need to have login tools in each country. The customer's login codes will remain the same.
  • Historical information (e.g. sent and received letters, information messages, etc.) will not be transferred on Internet bank. You can save your information the day before of the service migration, or if needed you will be able to receive it by making a separate request at a bank Customer Service Center, on Internet bank or by means of remote communication.
  • During the technical works related to the migration of the services and products, the internet bank and the mobile bank will not be available from 26 June 2020, 13:00. You will be able to log in to Luminor|DNB internet and mobile bank from 29 June 2020, 8:00.

Deposits

  • Frequency and day of payment of interest for deposits with periodic interest payment will change.  In all cases, interest will be paid once a month, on the first day of a month.
  • We will not migrate expired term deposit agreements, you will get it in Consultance center, if required.
  • We will migrate pledged deposits as regular term deposits but they will be blocked and assigned to collateral for the loan.
  • Interest calculation method will change – for the purpose of interest calculation, a calendar year will be considered to have 360 days, while a calendar month -  30 days.
  • If automatic prolongation of a deposit was set until a certain date, the latter date will not be moved following migration og deposits. Automatic prolongation of deposits will be of indefinite term or until you cancel it.
  • Name of the saving deposit will be changed into saving account and the name of the annex to the agreement 'Description of the terms and conditions of saving deposit for private customers' will be changed into 'Description of the terms and conditions of saving account for private customers'.
  • The frequency for interest payment on saving account will be changed. The interest will be paid not on a quarterly basis but on the last day of each month.
  • The following documents will be recast and their new versions will be valid from the day of service migration: 'Description of the terms and conditions of saving account for private customers' and 'General description of the terms and conditions of term deposits for private customers'. Information about them is available here.

Loans

Conditions of the credit limit of Mastercard consumer credit card  will change: 

  • mandatory 10% repayment of used credit limit is cancelled. Used credit limit can be repaid by your chosen number and amounts of payments, however on the last day of credit validity you will have to repay the outstanding credit amount in full;
  • interest (present 18% annual interest rate will be further applied) for factually used credit limit must be paid on the last day of a calendar (instead of the present bank working) month.
  • repayment amounts chosen by you will have to be transferred directly into the credit card account (until now, money was deposited in a separate bank account);
  • obligation to have a separate bank account for payment of credit repayments no longer exists, therefore you will be able to have one account for payments and credit limit. Upon your request, redundant bank accounts will be closed free of charge.

Conditions of the credit limits of Mastercard Credit, PINS Mastercard, Mastercard Gold, Mastercard Platinum credit cards change:

  • you will be able to use the credit limit for carrying out operations with a payment card, and making transfers and withdrawing cash; 
  • one-off 1% fee will apply for credit limit amount used during an operation, when withdrawing cash or transferring money. You can manage your own money on a credit limit account same way as on a usual payment account. Upon your request, redundant bank accounts will be closed free of charge;
  • the day of repayment of credit limit will not change, however if you fail to transfer the credit limit amount used in the last calendar month by the payment day in full, the Bank will continue charging interest from the used credit limit amount (i.e. difference between the credit limit used on the last day of the previous month and money transferred before the payment day);
  • The Bank will apply more favourable interest calculation – interest will be charged considering a year having actual number of days (365 or 366). Until now, interest was charged considering a year having 360 days.
  • interest payment procedure changes – from now, interest for the used credit limit will be, first of all, debited from your personal funds held in any of your Bank account(s) and only if you do not have enough money credited – from the credit limit. This way the Bank helps to reduce interest amount payable by you;
  • credit limit validity will be separated from credit card validity. If you lose your credit card, a new card will be issued for a new term of 3 years, however the credit limit granted for the original credit card will remain valid for the period equal to the validity date of the original credit card. Date of expiry of the credit limit granted for the credit card (same as any other related information, such as: balance, applied interest rate, etc.) can be reviewed at any time on internet bank Loans-> My liabilities -> Loans (or simply clicking on the credit limit amount – number shown on the account) 'Transaction period'.
  • Date of expiry of VISA credit card and its credit limit will be the same as of the old Mastercard card. 
  • Exception will apply only to Visa Debit card replacing Mastercard Debit card with credit limit and its credit limit.  Card will be valid for 3 years from the day of migration of services and credit limit will be valid till the same date as of the old Mastercard card expiry date.

  • Maturity dates of all payable amounts under credit limit agreements will be factual days specified in the agreement, irrespective if they fall on working days or public holidays or weekends. 
  • Current option held by holders of additional cards to limit spending per calendar month will no longer be available, i.e. if the same credit limit is used by several card holders – any of them will be able to use the credit limit and other money held on the account in full. Account owner must decide on the need to suspend additional cards.
  • credit limit money will be available for a period one day shorter than the limit validity term, i.e. on the last validity day, credit limit money will not be available.
  • Comprehensive information about credit limit use after migration of services to the unified system is available in: Rules for provision of credit limit to natural persons on payment card account at LUMINOR BANK AS, LITHUANIAN BRANCH (B) in Lithuanian.

Conditions of mortgage and consumer credits change:

  • when amounts fall due and balance on the account specified in the credit agreement is not sufficient for the payment due, other accounts of the credit beneficiary will be checked, irrespective of the currency of money held on the accounts checked.
  • interest rate of credit will be changed on the factual day specified in the agreement, irrespective if it falls on a working day or public holiday or weekend. 
  • if credit maturity day falls on a public holiday, weekend or other non-working day, it will be moved to the next bank working day.
  • to prevent currency exchange and related extra costs, make sure you have sufficient balance in the currency of the credit. If money in the currency of the credit is insufficient, the bank (on the same day) will convert the funds held in the bank in any other currency according to the exchange rate established in the bank on the day of conversion.
  • if money for payments is held on an account other than the one specified in the credit agreement, you are kindly requested to apply  to the Bank with a request to change the account set as the primary account for collection of amounts payable to avoid any possible inconveniences.
  • Loan repayment schedule will not be seen on Luminor/DNB internet bank, however you will be able to see the next future credit repayment. If you wish to receive a payment schedule when the period of interest setting changes, please inform us by submitting a free form request (on Internet bank or through Consultation centre) and every time interest rate changes, we will send it by post by a simple letter to the address instructed to the bank. Payment schedule can be downloaded from Internet bank before the migration day.

Investments

  • From 23 of June 2020, 8:00 you will not be able to place orders for acquisition, sale, transfer or exchange of financial instruments by using Luminor|Nordea Internet bank. Acceptance of orders will be resumed from 29 of June 2020, 8:00 via Luminor|DNB Internet bank.
  • If you need to conclude a transaction during trade suspension period, you should apply for transfer of financial instruments before the migration (except for bonds linked to the financial instrument) to the Luminor Investor platform.  Transfer of financial instruments to the Luminor Investor platform will be free of charge. Customers with investments into financial instruments traded on the stock exchange will be offered an opportunity to transfer their financial instruments to other brokers free of charge.
  • If you wish to sell Nordea Asset Management investment funds and/or Nordea's issued bonds linked with a financial instrument during the trade suspension period, you will be able to place an order on sale transaction in a free written form on the Internet bank or in a bank's unit. The price of the financial instrument on the day on which the placed order will be carried out in the new system upon completion of the service migration processes will be fixed. Money received from sold financial instruments will be credited to the current account in the new system.
  • Valid orders regarding financial instruments will not be moved to the single Luminor platform – they will be automatically revoked on the day of migration,. Invalid, completed and revoked orders, older than 1st of January 2016, will also not be moved to the single platform. Upon your request, the Bank will issue statements for previous periods about your concluded transactions, their prices, charged fees in a mode convenient for you.
  • Agreements on periodic investment into fund units will not be migrated and the later service will not be provided for customers in the new system. Data of historical orders completed under agreements on periodic investment into fund units will be available on the Internet bank for the periods from 1st January 2016. Valid agreements on periodic investment into fund units will be automatically revoked on the day of migration, i.e.  26th of June 2020.
  • Service of switch of Nordea Asset Management investment fund units will not be available on the new single platform of Luminor.
  • From migration day, General terms and conditions of the agreement on investment service provision will be amended and recast, changing also the title of the document. From migration day, the General terms and conditions of the agreement on investment service provision will be called the General Part of the Agreement on management of financial instrument account, completion of orders and provision of recommendations. The document is available here.
  • After the service migration, Terms and conditions of investment service provision (D) will apply to you. Terms and conditions of investment service provision (D) are available here.

Useful links

 How to create Smart-ID account with code generator or code card? 
 How to activate Smart-ID account in Luminor | DNB internet bank?
 How to create Smart-ID account with mobile signature? in Lithuanian
You can test Luminor|DNB bank here
Principles of assigning transaction limits for new VISA payment card

Moving the data to the unified Luminor system