Lithuanian Man Loses €5,844 After Bank of Lithuania Upholds Bank’s Decision on Stolen Card PIN

A Lithuanian resident recently lost nearly €6,000 after thieves withdrew funds from his stolen bank card, a case that highlights the importance of protecting your PIN. The Bank of Lithuania (LB) recently ruled in favor of SEB Bank, upholding their decision not to reimburse the customer for the fraudulent withdrawals.

The Case: Stolen Card in Mallorca

On August 14, 2025, the SEB Bank customer reported his payment card stolen while visiting the Spanish island of Mallorca. Five unauthorized cash withdrawals, totaling €5,844.75, were made from his account. The customer immediately contacted the bank to block the card, but also claimed he should be reimbursed as he hadn’t authorized the transactions. He admitted to having written his PIN code next to the card.

Bank of Lithuania Ruling

SEB Bank refused to reimburse the customer, stating the transactions were completed using the correct PIN code and no unusual activity was detected. The customer appealed to the Bank of Lithuania, arguing the bank should have prevented the transactions. However, the LB sided with the bank, citing the customer’s “extremely reckless” behavior of writing down his PIN code with the card.

According to the Bank of Lithuania, this action “significantly violates the obligations of the holder of the means of payment,” enabling the thieves to access the funds. The LB confirmed that the bank had properly applied strong authentication measures – requiring both the PIN code and physical card insertion – to confirm the disputed payments. The investigation found no evidence of non-compliance with financial market regulations or failure to ensure customer fund safety.

Bank Advice on Card Security

Daiva Osīte, head of SEB bank’s Prevention Department, emphasized the importance of protecting card details. While unable to comment on the specifics of the case due to confidentiality, she reiterated that a bank card provides access to funds and should be treated with care.

Osīte advised against sharing card details – including the card number, expiry date, security code (CVC), and PIN – with anyone. She strongly cautioned against keeping a written PIN code with the card, stating that losing a wallet containing both significantly increases the risk of financial loss.

SEB Bank encourages customers to immediately block lost or stolen cards through their mobile app, internet bank, or by contacting the bank directly. Customers can contact SEB banka around the clock to block payment cards or internet banking access.

Protecting Yourself from Card Theft

If you suspect your card has been stolen, immediately contact both your bank and the police.