Change in the mediation of money transfers in US dollars

26.04.2017

As from 5 May 2017, Eesti Krediidipank will stop mediating international money transfers in US dollars.

The change has been brought about by the general trend on the international banking market, where the number of correspondent banks mediating money transfers in dollars has significantly decreased lately. The bank that has been Krediidipank’s partner so far has also notified us about terminating the mediation of money transfers in dollars. We hope that this change is temporary, and we are in the process of active negotiations in order to find a new partner for the mediation of transfers in dollars. We will inform you about resuming the service at the earliest opportunity.

As the result of the change, as from 5 May 2017, payments in the currency of the US dollar (USD) incoming to or outgoing from current accounts in Krediidipank cannot be accepted or performed. The customers’ current accounts opened in US dollars will remain in Krediidipank, but no such new accounts will be opened. At the same time, the opportunity for all customers to perform money transfers in dollars within Krediidipank will remain.

Customers who currently hold amounts in US dollars on their current accounts will be able to transfer these amounts to another bank until 5 May 2017. Starting with 5 May 2017, we will be offering an option of converting the funds to other currencies, after which we will be able to transfer them to the required accounts. Other options we can offer are withdrawing the funds in cash or keeping them in US dollars on your account in Krediidipank. For the organization of one of the above operations, please contact our customer support line 669 0900 or the nearest branch office.

Customers who currently have time deposits in US dollars will have an option of the premature termination of their time deposits until 5 May 2017 if they wish. In this case, the amount of the deposit and the interest on the deposit accrued before the termination will be paid out to the customer. Naturally, customers who do not want to terminate their deposit contracts will be able to keep the time deposit with the interest rate agreed upon until the end of the deposit period.

We apologize for the inconvenience. We will inform you about resuming the service at the earliest opportunity.