For a smooth transition from the litas to the euro, one should remember the following basic things:
- You should know that from 1 January 2015 litas will be exchanged to euro free of charge in the whole of Lithuania and the same exchange rate (EUR 1 = LTL 3.4528 litas) will be applicable everywhere.
- The service of free exchange from litas to euro will be available at the Bank of Lithuania, commercial banks, the Post Office and some credit unions.
- Find out where is the nearest location to exchange cash litas. Please remember that the funds deposited in the accounts will be converted automatically, so there will be no need to waste time visiting currency exchange offices.
- During the first 15 days in January 2015, you will be able to make payments both in litas and in euro but the return will be given to you in euro. Attention! Sellers will have the right to accept no more than fifty coins at once.
- Get to know euro banknotes and coins. Besides the security features, it is important to know that euro banknotes are similar in all countries, whereas, in the case of euro coins, one side is common and the other is characteristic of a particular country. The national side of the Lithuanian coin contains the country’s symbol Vytis surrounded by twelve stars. One can get acquainted with the Lithuanian euro and euro cent coins from December 2014 – Lithuanian euro coins starter kits, which will consist of 23 coins of all denominations, will be distributed in banks and Lithuanian post offices. The kit will be sold at face value, i.e. LTL 40 litas, the nominal value of the euro kit (EUR 11.59).
- Please pay attention to the “Converted Fairly” sticker – this means that this seller or service provider has joined the Memorandum of Good Business Practice during the Adoption of the Euro, under which it has undertaken to convert prices fairly and not to use the euro adoption as an argument to increase them.
- Let us learn to count euros. Let us take advantage of the current period, during which prices are displayed in two currencies. Goods labels are a certain “pony” showing what prices will be after the New Year. Let us get used to counting prices not only in litas but in euros as well.
- Do not get hooked by crooks. Neither state institutions nor banks or other credit unions will exchange litas to euro at home or in the street, record money or demand the disclosure of personal, e-banking or any other data. Please share this information with your close family members, particularly the elderly, one can never be too careful.