Latvia's Changeover to the Euro Tonight May Cause Bank Glitches in Estonia

Photo: Postimees/Scanpix
12/31/2013 11:17 AM
Category: Economy

As a number of banks in Estonia share their IT systems with Latvian branches, the switch to the euro may cause glitches in Internet banking operations and ATMs.

Nordea bank told Postimees today that its ATMs will not be operational in Estonia for an hour before midnight and Internet banking will be offline between 23:00 and 3:00.

Swedbank, the other major bank that could theoretically be affected, is more vague about possible glitches, saying that it does not expect large problems to occur. Nevertheless, Swedbank management reportedly sent an e-mail to staff members advising them to withdraw cash, just in case.  

Danske Bank and SEB said they do not share IT systems with their Latvian branches and no errors are predicted.


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