Central bank to raise monthly cash withdrawal limit to EUR 800 from 2025

The central bank has said basic payment account service users will be able to withdraw EUR 800 per month free of charge as of next year, instead of the current EUR 550. Both residents and small businesses using the service will be able to carry out 15 transactions, five more than now, the board chairman of the Bank of Lithuania says.

„Residents who have opted for the regulated basic payment service will be able to cash out EUR 800 per month,“ Gediminas Šimkus told a press conference.

He said the Bank of Lithuania on Tuesday approved the composition and price of the basic payment account basket that will be in force for 2025-2027.

The basket of basic services for households and small businesses will go down in price from EUR 1.47 to EUR 1.00 from January next year, according to Šimkus.

„The price is falling by a third, from EUR 1.47 to EUR 1. For the poor, it goes down from EUR 0.73 to EUR 0.50. The fees will not be reviewed every year, they will be valid for three years,“ said Šimkus.