Latvia de-Russifies ATMs
Date: 2024-09-20 Author: Alexei Fomin Categories: WORLD
Now ATMs must be set to Latvian (including Latgalian). They can also be set to the official languages of the European Union (EU) and the Organization for Economic Cooperation and Development (OECD) member states or candidate countries.
The amendments also provide for minimum requirements for a client of a credit institution to be able to withdraw cash from their account.
These amendments will ensure the availability of cash for residents throughout Latvia.
ATMs in Latvia
In Latvia, non-cash payments are increasingly used as the main method of payment. However, despite the growth of non-cash payments, cash remains relevant. According to the Bank of Latvia's "Payment Radar" survey, in February 2024, cash payments accounted for an average of 23% of everyday payments.
As of June 30, 2023, there were 4.9 ATMs per 10,000 residents in Latvia, which is one of the lowest rates in Europe.
The Ministry of Finance believes that Latvia needs to take steps to ensure sufficient access to cash payment services, as cash should be a viable alternative to cashless payments.
Latvia is consistently pursuing a policy of de-Russification. In particular, from the 2026/2027 academic year, schools will have to gradually offer students one of the official languages of the European Union, or another foreign language, but not Russian, as a second foreign language.
The amendments also provide for minimum requirements for a client of a credit institution to be able to withdraw cash from their account.
These amendments will ensure the availability of cash for residents throughout Latvia.
ATMs in Latvia
In Latvia, non-cash payments are increasingly used as the main method of payment. However, despite the growth of non-cash payments, cash remains relevant. According to the Bank of Latvia's "Payment Radar" survey, in February 2024, cash payments accounted for an average of 23% of everyday payments.
As of June 30, 2023, there were 4.9 ATMs per 10,000 residents in Latvia, which is one of the lowest rates in Europe.
The Ministry of Finance believes that Latvia needs to take steps to ensure sufficient access to cash payment services, as cash should be a viable alternative to cashless payments.
Latvia is consistently pursuing a policy of de-Russification. In particular, from the 2026/2027 academic year, schools will have to gradually offer students one of the official languages of the European Union, or another foreign language, but not Russian, as a second foreign language.
