Possible Common Network in the Baltic Countries
- In May 2010 the four Northern banks Swedbank, SEB, Nordea bank and Danske bank have started working on the possible deployment of an ATM network covering all three Baltic countries. This study is still being conducted today. The three banks have about 2,400 ATMs in Estonia, Latvia and Lithuania; this alliance would allow them to lower services, maintenance and cash management costs of their respective parks.
- According to SEB, a final decision should be made before 2012 and, according to Nordea Bank, the joint network could be operational starting 2013.
- In 2006, Nordea and Danske bank have agreed to create a common network in the Baltic countries. The first ATMs were installed in September 2006 to improve customers’ access to cash withdrawal (other banks were then invited to join in this initiative). The e-PSP First Data is in charge of maintaining the network.
- Meanwhile, Estonian banks are also planning to install universal ATMs. For now, only few banks allow non-customers to withdraw cash at their ATMs. When these withdrawals can be made, the user pays an additional fee (0.58 euro + 2.5% of the transaction amount).