When Lithuania regained its independence in 1990, its residents were soon introduced to a couple of new things. These were payment cards and ATMs. In 1993, AB Vilniaus Bankas (currently SEB Bank) issued the first international payment card (its account was kept only in dollars). Later on, such cards were also issued to private persons and companies. In 1995, at the same bank, the first ATM in the country was set up. By the way, it only dispensed banknotes of one denomination (50 litas).
Both payment cards and ATMs were introduced in Lithuania quite late due to the occupation. The first ATM was set up in London in 1967 and the first magnetic card was issued in 1969 in New York.
Currently, there are more than 1,200 ATMs in Lithuania and almost 4 million payment cards have been issued (more than there are residents in the country).
The first cards and the first ATM are now on display at the Bank of Lithuania’s Money Museum!
