Latvia bans Russian language in ATMs

The Latvian Parliament (Saeima) has banned using the Russian language in ATMs of the country's commercial banks, News.Az reports citing Delfi .

From now on, ATMs must be set to Latvian (including Latgalian). They can also be set to the official languages of the European Union (EU) and the Organisation for Economic Co-operation and Development (OECD) member states or candidate countries.

These amendments are said to ensure the availability of cash for residents throughout Latvia.

The amendments also provide for minimum requirements for a credit institution client to be able to withdraw cash from their account.

23% of everyday payments are cash. It should be possible to withdraw money

In Latvia, non-cash payments are increasingly used as the main method of payment. However, despite the growth of non-cash payments, cash remains relevant. According to the Bank of Latvia's "Payment Radar" survey, in February 2024, cash payments accounted for an average of 23% of everyday payments.

The Ministry of Finance explains that the importance of cash availability increases in situations where payment systems are unavailable, but at the same time, the infrastructure for withdrawing cash is currently significantly reduced. In recent years, the number of branches of credit institutions and settlement centers in the country where you can withdraw cash has significantly decreased.

In general, since the end of 2013, the number of bank branches in Latvia has decreased by 91.5%. According to the Bank of Latvia, at the end of 2013, the number of customer service locations in credit institutions was 319, while in May 2023 it was 77 locations, of which only 27 provided cash withdrawals.

Despite the fact that ATMs of credit institutions have become the main source of cash availability for the population, their number is also decreasing. According to the data published by the "European Association for Secure Transactions" (EAST) on the situation as of June 30, 2023, there were 4.9 ATMs per 10,000 residents in Latvia, which is one of the lowest rates in Europe.

The Ministry of Finance believes that measures must be taken in Latvia to ensure sufficient access to cash payment services, as cash should represent a viable alternative to non-cash payments.

News.Az