Latvijas Pasts ensures exchange of lats for euros at 302 specially identified post offices throughout Latvia


Latvijas Pasts ensures exchange of lats for euros at 302 specially identified post offices throughout Latvia

From today, January 2, 2014, until March 31, Latvijas Pasts in accordance with the Cabinet of Ministers regulations will provide free exchange of lats for euros at 302 post offices in areas of the country where bank services and ATMs are not available. The nearest post office for currency exchange can be located at the dedicated site created by Latvijas Pasts.

Latvijas Pasts is primarily a postal services provider, but, as a socially responsible company with the largest network of branches in the country, has become involved in the euro adoption process in locations where people have no other currency exchange possibilities. Out of the total of 618 Latvijas Pasts locations, cash exchange will be available only in the 302 post offices defined in the Cabinet regulation on the postal service provision locations for exchange of lats for euros. Lats can be exchanged for euros in the form of a transfer at any Latvijas Pasts office by opening a special account with the Postal Payments System.

It is possible to conveniently locate the nearest post office for cash exchange by entering an address at Latvijas Pasts website, which also includes a list of all 302 post offices by region and an interactive map - the list can be viewed here. The cash exchange post offices can also be determined by calling Latvijas Pasts info lines 67008001 or 27008001, and the list is also available in informative brochures in all Latvijas Pasts offices. The post offices which offer cash exchange are identified with a special sticker on the door; a sample of the sticker can be viewed here.

Lats will be exchanged for euros at the official exchange rate - LVL 0.702804 for EUR 1.00. The free exchange of lats for euros at the 302 Latvijas Pasts offices will begin on the first working day of 2014 - January 2 - and will continue until March 31. Latvijas Pasts will allow people to conveniently exchange cash already on the first Saturday of 2014 - January 4 - when all 302 post offices will work in accordance with Friday's schedule, including the offices that are normally closed or work shorter hours on Saturdays.

In accordance with the provisions of the Euro Implementation Procedure Law, Latvijas Pasts has established the procedure for successful exchange of amounts exceeding LVL 3,000. To exchange an amount in excess of LVL 3,000 at one of the 302 Latvijas Pasts offices, it will be necessary to make a reservation at the office where the exchange is desired. It will be necessary to visit the respective post office with an identity document three days in advance and submit an application, specifying the amount to be exchanged. Three days later, upon presenting an identity document, it will be possible to exchange the specified amount at the same post office.

To ensure a convenient and safe transition from lats to euros, Latvijas Pasts invites customers to open a special lats exchange account with the Postal Payments System. By opening a lats exchange account in the first two weeks of 2014, the customer, starting from the fourth working day after the opening of the account, will be able to withdraw cash in euros free of charge until January 31. If the customer wishes to withdraw cash in the first three days after opening the account, or after January 31, the fee will be 0.1% of the withdrawn amount. The opening of an account is free of charge for natural persons at any Latvijas Pasts post office, and it allows making money transfers at any time to a natural or legal person's account both within the Postal Payments System and at a bank - both in Latvia and abroad. The account also allows conveniently paying for rent and utilities, receiving pension or benefits.

In the first two weeks of the year, from January 1 to 14, 2014, it will be possible to pay for all services in either currency - lats or euros - but change will be returned only in euros.

About SJSC Latvijas Pasts

Latvijas Pasts ensures the widest availability of postal services throughout Latvia by maintaining more than 600 post offices. The primary function of the company is provision of the universal postal service; Latvijas Pasts also provides commercial transport, express mail, payment, press subscription, retail and philatelic services. Latvijas Pasts is a wholly State-owned company with more than 4,200 employees.

Additional information:
Agija Tērauda
Public Relations Specialist
Phone: +371 67608506

Contact centre