A client of Luminor bank in Lithuania complains about being fined and having 888 Euros deducted from his account without prior notification or explanation following a refinancing deal.
A Lithuanian bank client named Giedrius recently shared his dissatisfaction regarding Luminor bank's handling of a loan refinancing process. After completing a refinancing deal for a home loan, Giedrius was shocked to discover that 888 Euros had been deducted from his bank account without any prior notice or explanation. The bank labeled this deduction as 'other loan fees', but Giedrius felt blindsided and frustrated by the lack of communication from the bank prior to the deduction.
He attempted to reach out to the bank for clarification but faced delays and difficulties in getting answers. The bank representative later informed him that the deduction was a penalty related to fixed interest rates set during the refinancing process. Giedrius expressed his concerns over the legality of such a penalty, emphasizing that it is troubling for a bank to take clients' money without prior consultation or warning. He also mentioned receiving a delayed notification letter about the deduction, which further added to his bewilderment regarding the situation.
In response to Giedrius's complaints, Luminor bank has explained its rationale behind imposing such fines, though the article does not detail this explanation. This incident raises concerns about consumer rights and banking practices in Lithuania, prompting discussions about the necessity for clearer communication and regulations to protect clients from unexpected charges and penalties by financial institutions.
