Banks, Financial Services, Lithuania

"We noticed that the residents and companies of Lithuania devote more attention to a more effective management of their finances. Therefore, since 1st August we implement the solutions which will help to use the funds in the accounts more conveniently and effectively. A family can have one bank account and each its member – a payment card corresponding to his needs and possibilities, with the established limits of expenses. In this way the family funds will not have to be reallocated every month, and it is easier to control expenses," states Elvyra Kazandzi, the director of Bank Snoras Payment Cards Department.

Since 1st August the bank's client will be able to link to one account various combinations of payment cards; for example, to choose together both the debit and credit cards, etc. According to Kazandzi, such possibility is also convenient for travelling people because different payment systems (most often Visa or MasterCard) are more popular in various countries. The aforementioned service also caters to the companies' employees who make payments with the mutual funds of the company for goods, fuel, travel expenses, etc. They can receive for these settlements the payment cards linked to the main account of the company.

At the beginning of July 2011, Bank Snoras had issued to residents and companies more than 494,000 cards, among them 375, 300 debit cards and 118,900 credit cards.