Unifying systems | Luminor

This information concerns only Luminor business customers using account numbers beginning with "NDEA" and users of Luminor|Nordea internet bank

What does it mean?

Two banks merged into Luminor. As a next step we need to move our data to unified platform - that means leaving legacy systems and moving all customers’ data to one system.

How does it affect the business customers?

After company’s data migration - we will let you know the exact date in a separate letter:

Read more how to log in for the first time. Take a look at instructions for more convenient internet bank`s daily use after migration.

Here is how you should prepare?

2 months before

2 months before

Update the company’s contact information.
Check the company’s e-mail or internet bank.
We’ll send the information about the exact migration date and how shall you prepare for it. 

2-3 weeks before

2-3 weeks before

The company will receive the new cards. Ask the users to put them to their wallets so that the cards are available after the night of data migration. Until then the cards will be blocked.
Remind internet bank users to activate Smart-ID app and log in Luminor|DNB internet bank.

Night before

Night before

Make payments in advance and take out some cash if needed.
Due to migration, there will be interruptions with cards and internet bank at the night of migration.

After the migration day

After the migration day

Use the new cards.
Log in Luminor/DNB internet bank with Smart-ID app or received Luminor|DNB code generator.
The company has new account numbers. Inform about them your business partners and others who want to send you money.


Detailed list of changes

Current Accounts


For each business customer account number, whose contain letters “NDEA”, first eight symols will change. The new account numbers can be used only after the aforementioned data migration date. Up until then, they will remain blocked and any incoming payments will be rejected and returned to the payer.

  • We will send the new account numbers to company about three weeks before you the migration of company`s data, and they are availble also on Luminor|DNB internet bank.
  • On the night of the data migration, we will also transfer the remaining balance to the new account.
  • If the company executes and receives international payments, from now on please use new SWIFT/BIC code – RIKOLV2X and new correspondent banks for RIKO account owners.
  • The corporate details of Luminor Bank AS Latvian branch will remain unchanged.
  • If we receive any payment order containing the company’s previous account number during first three months after the date migration, we will automatically correct it so that the company receives its funds to the new account on the next business day. However, if we receive a payment order with the previous account number after expiry of this term, the system will automatically refuse it and, hence, will return it to the payer.
  • Inform your business partners about the new banking details of the company. We offer to use an option to forward your banking details by e-mail that is available in Luminor|DNB Internet bank. It is available under the section “Accounts and Cards” / “My Accounts”, by selecting the respective account and clicking on “Send Details” (more detailed instructions available here). In case your company uses POS payment card solutions including online payments for business operations, please also notify such business partners about the new banking details accordingly. 
  • Note that you will not be able to receive money in your account until the night after the data migration, until that it is blocked. If someone transfers money to the company until the night of the migration, it will be returned to the sender and you will not receive it. Also, it will not be possible to cash-in at the ATM these accounts until the night of migration.
  • In the future, we invite you to receive account statements free of charge at Luminor|DNB internet bank. We will no longer send them by post.
  • You will be able to prepare account statements, including historical transactions for 3 year period before migration of your data.
    - This can be done in the "Accounts and Cards" / "Account statement" section by specifying the desired billing period for that account.
    - To prepare an account statement for transactions before this period or electronically signed account statement, write a message on Luminor|DNB internet bank. Specify the account, the time period you want, and the e-mail address to send it to. Instruction here.

  • Please note that during data migration business accounts and payment cards will be unavailable. Hence, we kindly ask you to refrain from planning any transactions between 8.00 PM of the previous day and 9.00 AM next morning.
  • Please note that if there are no incoming or outgoing transactions on the current account for at least 6 months, the account will be blocked (in accordance with the Rules of Accounts).
  • If your company currently holds any accounts that contain letters RIKO in their account numbers:
    - The products and services presently used in Luminor|Nordea Internet bank along with the remaining account balances will henceforward be available in one place - Luminor|DNB Internet bank.
    - We kindly ask you to critically assess which of the services you might continue using in future. If any of them need to be closed, please submit a message via Luminor|DNB Internet bank for business.

Payment Cards


Each Maestro Business and Mastercard Business Debit will be replaced by a new payment card - Luminor Visa Business Debit. This, however, does not apply to cases when the card has been blocked approximately one month before data migration. In such case it will not be replaced.

  • The company will receive all new payment cards approximately 3 weeks prior to data migration. In case they have not been received one week before the date of data migration, write a free-form message in the internet bank.
  • Remind the cardholders to read carefully the letter they will receive with the card. It describes everything important to start using card successfully right after migration night - incl. how to activate it. Until then, use your existing card.
  • The new limits for non-cash purchases and cash withdrawals:
    - Cash withdrawal limit for rolling periods of 30 days will be set based on the pricelist;
    - Daily limits for non-cash purchases and cash withdrawals will be approximated to the present daily limits, however, not exceeding them. 
  • Precise daily limits for non-cash purchases and cash withdrawals for each card user will be specified in the cover letter sent with the card, as well as sent to copany`s Internet bank, e-mail or post.  
  • The company's authorized representatives may find out precise daily limits of business cards by submitting a message via Luminor|DNB Internet bank using the option of a free-form application.
  • Cash deposits will be available only using Luminor's ATMs according to the pricelist.
  • Fees for cash withdrawal from ATMs of any bank (including Citadele bank) are specified in our pricelist.
  • If a business payment card holder is planning to make transactions that require credit card functionality such as car rental, hotel or flight reservations etc., please apply for Visa Business credit card on our website under Payment Cards.
  • The new Luminor|DNB Internet bank will allow you to view all business cards under the section “Accounts and Cards” / “My Cards”.

Internet bank

Hereafter the company will be able to manage all Luminor services through Luminor|DNB Internet bank. Users will be able to access it from their private Internet bank by switching to a company`s profile!

  • To access Luminor|DNB Internet bank, you will need to use:
    - the existing private login name or customer number (if it changes, we will notify you separately before the moment of data migration);
    - a free-of-charge Smart-ID app or a new Luminor|DNB code calculator.
NB! If you are using Smart-ID Basic, all company`s Internet bank users shall keep their present Luminor|Nordea code calculators or code app Nordea Codes. It will be needed in case you change your mobile phone and need to restore your Smart-ID Basic account.
  • The new Luminor code calculator can be purchased at any customer service center according to the pricelist.
  • Watch the video on how to log in Luminor|DNB Internet bank for the first time here.
  • Click here to find out how to connect to Luminor|DNB internet bank. Invite the users to do that for at least one week prior to the transfer of company data, furthermore, in the full version of the internet bank. Please consider that all products and services will be available on the internet bank only after the transfer of data.
  • Message via Luminor|DNB Internet bank may be submitted (approved) only by those persons who are authorized to approve payments. You can either select a template prepared by the bank or create a free-form application for your correspondence. Likewise, you will always find the latest updates from Luminor. Instruction available here.
  • In Internet bank signatory persons of the company (according to the data of the Register of Enterprises) can access a customer form in order to view and renew the customer data:
    - To add an Internet bank user for the purposes of making changes in the customer form, or to prohibit doing that, please submit a message via Luminor|DNB Internet bank.
    - Corrections of information in the customer form and contact details may only be done via Luminor|DNB Internet bank under “Settings” / “Internet bank Settings” / “Customer Form”.

Payment limits in Luminor|DNB internet bank

The company's maximum limit may be viewed in internet bank: Settings → Internet bank Settings → Account and Customer Settings → Payment Limits.
 
User’s payment limit:

  1. Each user has been set only the maximum limit for one payment. The user can make an unlimited number of payments from any available corporate account, if the total amount (together with the payments made by other users) does not exceed the daily payment limit set for the company.
  2. Individual daily limit for payments cannot be set at the user level. The total amount of payments made by all users may not exceed the daily limit of payments set for the company.

Thus, each user can make several payments (without exceeding the maximum limit for one payment set for the user) from any available corporate account. The total amount of payments made by all users during one day from all corporate accounts may not exceed the daily limit of payments set for the company.
 
Company’s payment limit:

  1. Daily limit has been set at a corporate level for the total amount of payments from all company’s accounts together. Limits have not been set for specific accounts. If the total amount of payments made by all users reaches the daily limit of payments set for the company, further payments are not possible in the internet bank for any user until the next accounting period of the daily limit of the corporate payments, until the next day.
  2. A limit for one payment has also been set at a corporate level, and currently it has been set identical to the daily limit of the company. None of the users can make a payment that exceeds the limit set for one payment of the company, even if the limit for one payment has been set higher at an individual user level than the limit for one payment set at a corporate level.

Payment limits set at the internet bank may be changed by the signatory of the company by sending an application in the internet bank Messages → New application → Application from a template → Change of internet bank payment limits.

Payments via Luminor|DNB Internet bank

Please note that during data migration business Internet bank will be unavailable

  • We kindly ask you to refrain from planning any transactions between 8.00 PM of the previous day and 9.00 AM next morning.
  • Any payment orders that have not been approved or are expected to be executed after this date, will not be migrated.
  • You will be able to check the status of payments made in your account statements available on Luminor|DNB Internet bank.
  • We will transfer the previously saved templates to the new Internet bank.
  • Payment execution times will not change.
  • You can import information about your wage payments in “Payments” / “New Payment” / “Payment Import” using file formats stated below which contain the given features of parameters:
File format: Fidavista
Set of parameters/feature: 
<Extension><SalaryFlg>Y</SalaryFlg></Extension>
File format: ISO 20022 XML
Set of parameters/feature:
<PmtTpInf>
<CtgyPurp>
<Cd>SALA</Cd>
</CtgyPurp>
</PmtTpInf>
- To be able to make such payments and retain their confidentiality, you must make the respective changes to file formats and their parameters in your company’s accounting system.
- Instructions for payment import are available here.
  • Luminor|DNB Internet bank will allow you to request account statements for the period starting from 01/01/2016.
    - It can be done under the section “Accounts and Cards” / “Account Statement” specifying the desired  period of time for the respective account.
    - If you require an account statement in respect of transactions made before 01/01/2016 or an account statement containing electronic signature, please submit a message via Luminor|DNB Internet bank specifying the desired period of time and a reply e-mail address. Instructions.
  • If you require a printout of payment orders in respect of historical payment transactions made before the date of migrating the company’s data, please submit a free-form message via Luminor|DNB Internet bank specifying:
    - Account number used for outgoing payment
    - Payment date
    - Amount
    - Payment reference or number
    - Payee
    - Reply e-mail address
  • All personalized payment templates (User Defined Beneficiaries), which are used to pay with your business partners, will be moved to Luminor|DNB Internet bank.
    - We kindly advise you to review them in section “Payments” / “Payment templates”.
    - In case any payee’s account number contains letters NDEA, please consult the payee to find out if their account number has also been changed, and if so, please make all necessary changes thereto.
    - You will continue to be able to use the balance transfer service, but to modify an existing contract or to apply for a new one, please submit a message in Internet bank by selecting a free-form application.
  • Henceforward, when you make any payments via Luminor|DNB Internet bank as you start typing the first three letters of the payee’s name, all their information will be automatically filled in from the historical transactions.

Service Packages

Your company will be able to use the same service package as before. If you would like to receive more detailed information about your service package, please submit a message via Luminor|DNB Internet bank by selecting a free-form application.

Term deposits

  • From now on, each of company term deposits will have an IBAN account number.
  • All term deposits will be displayed on Luminor|DNB internet bank right after the migration of company`s data.
  • If you receive interest on the monthly deposit balance, it will be paid out at the beginning of the month for the previous month.

Loans

All the company's credit liabilities are transferred to the new system. Note that as your billing account numbers change, so does the credit repayment account.

  • Make sure that after the data migration all loan payments will be deducted from the company accounts with the new account numbers. Note that if it arrives before, then the money will be returned to the sender.
  • Henceforward, you will be able to follow the company loans in Luminor|DNB internet bank account of your company day after migration.
  • If overdraft is granted to the company account, henceforward, you can find this service on Luminor|DNB internet bank under the “Credit line”.
  • If another borrower is linked to the loan contract, or another person is performing loan payments instead of the company, do not forget to inform them on the new account number.

Financial instruments

  • Amendments to the account number of each financial instrument account of the company will be made – the symbol ”-“ will be removed.
  • In future, you will be able to manage financial instrument account from your Luminor|DNB internet bank.
  • Financial instrument transaction confirmation document will be available on Luminor|DNB internet bank for transactions since the beginning of 2016 - if you need to review an earlier transaction, please request that by submitting an application at Luminor|DNB internet bank.
  • To ensure that the transfer of financial instrument accounts occurs successfully, the execution of orders for the transactions with financial instruments on Luminor|Nordea internet bank will be suspended for a week prior to each transfer date indicated by the customer:
    - We will renew the acceptance and execution of these orders on the date after the night of transfer on Luminor|DNB internet bank;
    - We invite you to apply for Luminor Investor trading platform to avoid this interruption already today. You can apply by filling out an application form, and transferring the securities of your company to the platform free of charge. The orders on the platform will be executed without interruptions.
  • During the aforementioned period, the orders with the validity period of one week prior to the indicated date of transfer and after that will not be executed as well. These orders will have to be drawn up again by using Luminor|DNB internet bank.
  • After the transfer of data, the standing Fund purchase orders, as well as orders of fund changes managed by Nordea Asset Management, will be no longer available.
  • Along with the data migration, the procedure for the calculation of commission fees for the storage of financial instruments will change – in future, the value of debt securities will be evaluated on the basis of their market value, instead of the previous evaluation based on nominal value.

Other changes

  • Fees will be charged at the beginning of each month for the previous month.
  • In cases where there will not be sufficient funds in the account for the commission, the account will not show a negative balance. Commission transactions will be phased in to the full amount as soon as the account has the necessary funds. 
  • If the company have guarantees, letters of credit, guarantee lines – make sure that since the data migration all commission payments will be deducted from the company accounts with the new account numbers.

Additional information, if the company currently has both RIKO and NDEA accounts

Internet bank

  • If the company already has Luminor|DNB internet bank, it should continue to be used after data migration:
    - will be able to see all your services at once, including new accounts and new payment cards;
    - users login name and authorization tools will remain the same as they were used previously on Luminor|DNB internet bank;
    - users of Luminor|Nordea internet bank will not be automatically connected as users on Luminor|DNB internet bank. If necessary, apply for connecting of additional users to Luminor|DNB internet bank by submitting an application on the internet bank;
    - the users must use the full version of the internet bank to connect to the internet bank for the first time after the transfer of company data. Each person will have to accept that they agree to work with the internet bank of the company – only then they will be able to connect to it, including, via their mobile bank.
  • If company does not have Luminor|DNB internet bank, but only Luminor|Nordea - read more here.

Manage your business finances with ease!