OPEN YOUR  Latvia Bank Account

Latvia Private Bank account: 

Bank accounts in lativa would be ideal for you, if you want to carry out transactions in baltic. Unlike switzerland, they dont ask for big security deposits to get these payment cards. Very recently latvia merged into european union and the country well supported by european monetary funds for its development. Neverthless, your deposits are protected by strict bank secrecy laws of latvia.

Set of bank forms necessary to be completely filled and signed for opening a private account are:

- Current account agreement;
- Authorized signature sample card;
- Client's Questionnaire;
- On-line banking application.

Documents necessary to be provided to the Bank for opening a private account are:

- copy of officially recognized ID document in Your residence country

The signature of the client opening the account remotely HAVE TO BE Notarised and Apostilled.
This can be done in two ways:
- Notarizing and getting to be Apostilled completely filled Authorised signature sample card, or
- Notarizing Your signature at Notary Public and getting to be Apostilled the issued document which says : ""I, ..... confirm the signature of ...... identified by passport Nr. 123456, issued at 01/01/03, with expiry date of 01/01/08 by ..... a copy of which is attached hereto"
Thus, in both ways, the ID document will be Notarised and Apostilled itself as it was used for identification of the client (You).

Notarization has to be made in English or, should this be impossible, officially translated to English language.

An Apostille is the official state certification of the notarization which makes notarized documents legally valid in all countries member to the Hague Convention on abolishing the requirement of legalization of public documents.

The cost of current account opening remotely consist of:

Opening and closing of current account
Opening of current account in Latvia 100 EUR
Opening of current account outside of Latvia information at the bank
Current account closure fee 100 EUR

Maintenance of current account
Current account maintenance Free of Charge
Maintenance of dormant* account Free of Charge
* no operations during last 12 months
Issue of chequebook 5 EUR
Account statements Free of Charge
Current account interest
Account balance exceeding 10 000 LVL 2.5 % Annually
Account balance exceeding 100 000 USD (or EUR) 1/2 overnight LIBOR
Account balance exceeding 2 500 000 RUB 2 % annually
Standing Order
Order registration 5 EUR
Additional transaction charge free of charge

Cash operations
Cash deposit into account
LVL (Latvian Lat) into own account free of charge
LVL (Latvian Lat) to 3rd party account 0.30 LVL
EUR, USD Free of Charge
Cash withdrawal
LVL 0.1 %, min 0.50 LVL
Up to 100 000 EUR 0.5 %
Over 100 000,01 EUR 0.4 %
Up to 100 000 USD 0.5 %
Over 100 000,01 USD 0.4 %
Other cash operations
Substitution of outdated USD bank-notes (issued 1928-88) 3 %
Authentication of bank-notes 0.10 LVL per bank-note
Coins exchange (for every 100 coins) 0.25 LVL, min 1 LVL
Substitution of damaged bank-notes
USD 3 %
EUR 4 %
Deposit of coins into account
Up to 300 coins Free of Charge
For every 100 coins over 300 per day 0.25 LVL, min 1 LVL

Current accounts in Bank are multi-currency and You can have under one account number as much currencies as You wish.

These were general guidelines about the current account opening procedure.

If You would like to apply for the debit or credit card additionally You should fill one more form what is:
- Application for the opening of a VISA, Eurocard/MasterCard, Maestro, Visa Electron account and card issuance, and/or
- Application for the opening of a Cirrus card account and card issuance

If You would apply for the card only then there is the same procedure and the same set of bank forms necessary to be filled as for the current account to be opened only replacing Current account agreement with Application for the card. Your signature still HAVE TO BE NOTARIZED AND APOSTILLED.

Frequently Asked Question: 

Is this Bank secured? 

I can truly confirm that banking system in Latvia is regulated by government and Financial and Capital Market commission (please visit ).

Will I have dedicated account manager?
Yes, you will have Your own, English/German speaking account officer and You can contact the Bank for most of Your questions or problems to be solved. 




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