OREANDA-NEWS. July 17, 2008. Danske bankas together with another member of the international financial group Danske Bank - National Irish Bank (Ireland) - offer free instant online transfers from Ireland to Lithuania, reported the press-centre of Danske Bank.

"About 150 thousand Lithuanian citizens live in Ireland. Many of them transfer a portion of their earnings to their own or their family members’ accounts in Lithuania. Instead of paying 20–40 litas or more for each transfer to a bank or financial agency as has been the case to date, from now on, they’ll be able to do it for free," Director of the Product Management Department of Danske bankas Darius Jasinskis empathized.

It is estimated that Lithuanian citizens living abroad contribute over three billion litas annually to the economy of our country. Money transferred by Lithuanians in Ireland can amount to 0.5–1 billion litas. If these amounts could be transferred for free, the amount saved in bank charges would exceed one million litas per year.

In order to take advantage of free bank transfers, the transmitter simply has to open an account in National Irish Bank and the recipient has to have an account in Danske bankas in Lithuania. The number and amounts of bank transfers are unlimited. Transferred euros will appear in the account of the Danske bankas customer in Lithuania within a few hours on the same working day and neither the transmitter nor the receiver has to pay any charges.

"Of course, neither National Irish Bank nor Danske bankas in Lithuania benefit from money transfers since these operations are performed free of charge. However, in order to take advantage of this service it’s necessary to have accounts in these banks. We’re confident that after becoming customers of Danske Bank Group, people will also start using our other financial services. In addition, this project will strengthen relations with our partners in Ireland and the Lithuanian community living there," Jasinskis added.

In order to offer the service of free instant online transfers to Lithuanians living in Ireland, Danske bankas employees in Lithuania are currently undergoing training in National Irish Bank. They stated that this innovation has attracted a number of members of the Lithuanian community in Ireland.

"We feel confident that the new project will strengthen relations between Lithuanians abroad and their compatriots in Lithuania. Through this project, the Danske bankas mission "We’re burning with desire to improve the lives of the people of Lithuania" spreads outside the Lithuanian border and becomes important to our compatriots abroad. We’re considering the possibility of offering similar services in other countries marked with the flag of Danske Bank Group," Jasinskis emphasized.