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Recommendations before the changeover to the euro

Estonia will adopt the euro on 1 January 2011. We hope that the transition to the euro is as smooth and carefree as possible for our clients. Therefore, we would like to inform you of some important activities and changes regarding the bank’s work that should be considered in December before the changeover to the euro.

• As of 1 December, private persons can exchange kroons for euros at the central rate and without any service fee.

      For the first time in the euro zone in Estonia, it is possible to exchange the national currency for euros at the official central rate before the official adoption of the euro. Customary currency exchange requirements apply, i.e. if you wish to exchange more than 100,000 kroons (6391.16 euros) in cash, please inform the branch employee thereof at least one day in advance.

• As of 1 December branches sell Estonian euro coin starter kits.

      The starter kit includes 42 Estonian euro coins in the amount of 12.79 euros and it costs 200 kroons. One client can purchase up to five starter kits.

• As of 6 December, the smallest banknote that can be withdrawn from ATMs is 100 kroons.

      Due to the changeover to the euro ATMs need to be modified. This means that from 6 December 2010 it is possible to withdraw only 100 and 500 kroon banknotes from SEB ATMs. As of 1 January 2011, the smallest bank note that can be withdrawn from ATMs is 5 euros (78.23 kroons).

• Try to make card payments on the last days of the year.

      On 30 and 31 December, withdrawing money from SEB ATMs is disturbed in relation to filling ATMs with euros. We recommend making card payments, which work without any disturbances at the end of 2010 as well as at the beginning of 2011. ATMs will start distributing euros at midnight of 1 January. All other bank channels are closed due to the modification of systems as of 31 December at 18:00 until noon of 1 January.

Source: seb More info: euro.eesti.ee