OREANDA-NEWS. Based on the agreement between Swedbank and Danske Bank approved by all the respective supervisory institutions, the serving of Danske Bank private customers will be migrated to Swedbank between 3 and 6 June.

On 4 June, all the current accounts, mortgage loans, consumer credits, deposits and securities of the respective customers will be automatically moved to Swedbank.

Payment cards issued by Danske Bank and access to internet banking for these customers will stop working at 17:00 of 3 June, whereas access to Danske Bank will be discontinued at 23:59 on 3 June.Due to the services migration works, access to financing sections on the Swedbank Internet Banking site will be limited on 4 June, Swedbank branches will work in informative mood on 4 June from 14:00 till 18:00.

To ensure full and uninterrupted access to their accounts, Danske Bank customers will have Swedbank payment cards prepared already before the migration and the customers were also invited to set up their access to Swedbank Internet Banking early on.

Customers will not need to terminate their existing service agreements with Danske Bank. After the migration, customers will be able to use the services of Swedbank and the terms and conditions of the services will not have any substantial changes – interest rates on loans and deposits will not change.

All Danske Bank customers whose contracts will be migrated to Swedbank will receive personal letters about the new account numbers at Swedbank.

The migration will affect some 5500 private customers of Danske Bank in Latvia. The size of the portfolio of loans subject to migration in Latvia is EUR 108m.