From September 1, the procedure for identifying persons exchanging currency in cash is changing

Dear customers,

We would like to inform you that in order to implement properly the requirements of the Republic of Lithuania for the prevention of money laundering and terrorist financing, from this year’s September 1, in Šiaulių bankas, the currency exchange service for exchanging any amount of money, in any currency, will be provided only upon presentation of an identity document, i.e.:

1. When the amount of money to be exchanged (one-time or interrelated amount of exchange within 1 day) is less than EUR 3000 (equivalent in another currency), identity confirmation is required (not only a passport, identity card or residence permit in Lithuania may be presented, but also driving license or other document containing a person's name, surname, personal identification number, photograph);

2. When the amount of money to be exchanged (one-time or interrelated amount of exchange within 1 day) is equal to or greater than EUR 3000 (equivalent in another currency), only a passport, identity card or residence permit in Lithuania may be submitted for identification. Also in this case, the currency exchanging person will be asked to fill in the Know Your Client form.