23/09/2025
Finantsinspektsioon issued a precept to Luminor Bank AS (registry code 11315936) because it identified deficiencies in the provision of basic payment services to clients, particularly in the procedural rules for the provision of basic payment services.
The precept requires Luminor Bank AS to address the gaps in its procedural rules for the provision of basic payment services, including those concerning the collection, analysis and preservation of client data. Finantsinspektsioon instructed Luminor to expand its procedural rules for informing clients about a refusal to open a basic payment account or the reasons for closing one.
Precepts may be appealed at the Tallinn Administrative Court within 30 days of notification of the administrative decision.