The LB Financial Market Supervision Department has approached 10 Lithuanian municipalities, acknowledging that the “progress made” regarding the accessibility of banking services “is not sufficient.” The LB letter also informed that banks intend to contact municipalities soon for cooperation.
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“Public administration services, including banking, must be equally accessible to residents of all municipalities, without linking the situation to municipal mediation or their assistance in setting up branches. This must become the standard for service provision without any additional conditions,” LB noted in the letter, quoting Kazlų Rūda Mayor Mantas Varaška.
More than a year ago, the Lithuanian Association of Municipalities (LSA) members’ meeting adopted a protocol resolution urging the LB Board, the Government, and the Ministry of Finance to ensure better accessibility of financial services to residents by 2026. The resolution calls on responsible institutions to ensure that at least one ATM operating 24/7 and dispensing cash is available in every eldership.
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It was also noted that each municipality and each eldership with more than 5,000 residents should have at least one ATM dispensing and accepting cash in its center. The resolution also stipulates that a bank branch providing direct services to individuals should operate at least two days a week in the municipality center. This resolution was adopted by consensus at the meeting.
Banking services and the ability to withdraw cash have become especially relevant for residents of remote municipalities after cash salary payments were discontinued several years ago. Since then, residents of more remote municipalities have continuously faced problems with cash withdrawals and access to other banking services.
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