Latvian Central Bank Makes It Easier to Deposit Coins

At the start of January, Latvia’s central bank, Latvijas Banka, relocated the Cashier’s Offices to the same site as its cash processing centre and, at the same time, improved the coin change service that it offers.

The public can use the office to deposit coins, exchange lat banknotes and coins, replace damaged notes and coins, and collect commemorative coins purchased online.

Previously, for coin deposits, if the amount of change submitted exceeded 100 coins, it was transferred to the cash processing centre, and the relevant amount was credited to the customer’s bank account, which could take several working days.

As of the beginning of January this year, customers can now use automated coin deposit machines and receive the value of deposited coins in their accounts within seconds (on the condition that their chosen commercial bank offers instant payments). The service is free of charge, and up to €1,000 worth of coins can be deposited in any one month.