The law will guarantee the availability of ATMs throughout Latvia

Such an obligation will exist as a minimum until the ATM is installed by another significant credit institution and the significant credit institution, which does not have its own ATM in the relevant territory, ensures that its customers can also receive cash withdrawal services at the relevant ATM under equivalent conditions.

The number of ATMs provided by major credit institutions in Latvia must not be less than the number specified by the Bank of Latvia, ATMs must be accessible to the customer and must operate during ATM working hours specified by the Bank of Latvia.

Latvijas Banka, when determining the numerical size of the specific requirement, will take into account the number of customers of the significant credit institution and the assessment of the Bank of Latvia regarding the sufficiency of the infrastructure capacity of the cash payment service to ensure the cash payment service in the event of a rapid increase in demand.

The draft law also stipulates that the credit institution provides its customer – a natural person to whom the credit institution has issued a payment card – cash payments in the amount of services, which is not less than the monthly limit and number of payments set by the Bank of Latvia, free of charge.

It is expected that the Bank of Latvia will determine the numerical values ​​of the mentioned requirements, the permissible deviations in their fulfillment, the conditions of application and the procedure by which the Bank of Latvia will check compliance with the mentioned requirements, as well as the requirements, the deadline and the procedure by which credit institutions will prepare and submit information to the Bank of Latvia in connection with the fulfillment of the mentioned requirements .

At least once every two years, the Bank of Latvia will review the numerical values ​​of the mentioned requirements, the permissible deviations in their fulfillment and the conditions of their application, taking into account the changes in the demand for the cash payment service, the types and alternatives of providing the cash payment service on the market, as well as the assessment of the Bank of Latvia regarding the cash payment service. the adequacy of the location and capacity of the cash disbursement service infrastructure for providing the cash disbursement service in the event of a rapid increase in demand.

If the major credit institution does not ensure the availability of ATMs in accordance with the established requirements of distance, number or working hours, or does not provide its customer – a natural person to whom the credit institution has issued a payment card – cash disbursement services in the prescribed amount free of charge, the Bank of Latvia will be entitled to impose a sanction – a warning or a fine – on the credit institution. money up to 50,000 euros.