The history of one of the biggest commercial banks in Latvia – Rietumu Banka – begins in 1992. Its foundation happened thanks to Toni Levin, vise-president of Diners Club Company that is the member of the group Citicorp. Having come from the USA to Latvia in order to examine the financial market of Baltic countries, Tony Levin decided to create an independent bank in which the idea of western conservatism would combine with the leading level of financial service.
The main goals of Rietumu Banka are providing services to the enterprises and companies that maintain international economic processes through exercising financial transactions in countries of CIS, Europe and Northern America.
In 2015 Rietumu Banka has launched a brand-new service being the direct cash transfers to payment cards. Due to this service, clients of the bank (both legal entities and individuals) are able to make international payments to the cards Visa and MasterCard issued by other banks of the world. Neither the account number nor any other supporting information are required for the above money transfers. The only thing you need to provide is the number of the card as well as the name and surname of the recipient. The transferred funds are automatically converted into the recipient’s card currency.
OPEN AN ACCOUNT IN RIETUMU
For natural persons – 150 EUR.
For legal entities:
- to open an account for a new client – 500 EUR;
- to open an account for a returning client (if beneficiaries or related companies with them have bank accounts) – 150 EUR.
The bank has been accepting for consideration the documents for opening an account only upon contributing a banking fee for account opening to the reserved banking account (including a fee for ordered banking services). This fee is not refunded in case of rejection in account opening.
In addition, the bank gives the opportunity to open the bank account urgently (in the period of 72 hours from the moment of filing the whole set of documents to the bank (in the working hours of the bank).
Additional fee for the urgent opening of the account:
- for natural persons – 100 EUR;
- for legal entities – 250 EUR.
Minimum account balance for legal entities (the amount shall be credited to an account either immediately after opening or no later than 3 months after the account opening) – 10 000 EUR.
The bank has an extensive network of agents throughout the world.
Via free software – Internet Bank.
Maintenance of the active account:
for natural persons – free of charge, if in the period of the last 3 months the monthly average margin on all accounts is 100 000 EUR or more.
for natural persons – 10 EUR, if at least one of the following conditions is satisfied:
- if in the period of the last 3 months the monthly average:
margin on all accounts is more than 25 000 EUR or
turnover on card accounts exceeds 10 000 EUR;
- total balance and/or the total number of transactions in all accounts of the beneficiary group covers the requests for all customers of the group;
- existence of a credit agreement in force for the amount of more than 250 000 EUR;
- during the first 3 months from the moment of activation of the first account.
for the legal entities – 50 EUR per month, if at least one of the following conditions is satisfied:
- if in the period of the last 3 months the monthly average:
margin on all accounts is more than 100 000 EUR or
turnover on card accounts exceeds 10 000 EUR or
turnover on the merchant account (e-commerce) exceeds 100 000 EUR;
- total balance and/or the total number of transactions in all accounts of the beneficiary group covers the requests for all customers of the group;
- existence of a credit agreement in force for the amount of more than 250 000 EUR;
- during the first 3 months from the moment of activation of the first account.
Maintenance of the low-active account (if the conditions of an active client are not fulfilled):
- for natural persons – 25 EUR per month;
- for the legal entities – 200 EUR per month.
Transfers (EUR):
- on the territory of EEA countries:
standard – 15 EUR;
express – 30 EUR.
- out of the territory of EEA countries:
standard – 30 EUR;
express – 50 EUR.
Fee of direct money transfer to payment cards is 2% from the amount (minimum 3 EUR).
More detailed information concerning tariffs can be found on the website of the bank.
The process of opening an account starts with preliminary stage that includes gathering and providing all necessary documents in order to open the account. The duration of the preliminary stage depends on you exclusively.
The process of consideration of the documents by the bank and taking the decision concerning opening the account takes from 10 to 12 working days starting from the date when the documents and forms are submitted to the main bank office (these is a possibility of express account opening within 3 working days).
Rietumu Banka adheres to the principal «know your client» and reserves the right to require any additional data or documents that would lead to the prolongation of the term for opening the account. Also, the bank may refuse to open the account without any reasons.
Russian speaking.
Maestro, MasterCard, Visa, American Express.
Credits, fiduciary services, trade finance, e-commerce, cash-in-transit services (encashment), safe box.
Forms for signing are provided in our office.
Company’s documents – originals of all statutory documents are required. The Certificate of Good Standing (apostilled) is also required in case when more than one year has passed after the company’s registration. The company has to confirm actual physical presence in the country of registration (such as office, local staff, paying taxes, submission of financial statements).
Documents for the account holder:
- original of internal passport;
- original of foreign passport (if you have).
Documents for the beneficiary:
- original of internal passport;
- original of foreign passport (if you have).
Also you need minimum 2 documents out of the list below:
- employment certificate;
- if the beneficiary owns a residential company, the Certificate of Registration and Articles of Association of this company are required;
- document that proves education;
- statement from the account opened in the name of the beneficiary;
- documents proving the acceptance of inherited property;
- the bank reference.
Before the procedure, you should visit our office for filling in the questionnaire and for preliminary check of the documents related to the company, attorney (account holder) and beneficiary. In order to open an account, a personal meeting with the bank manager is required.
For further consultation concerning the terms of account opening in Rietumu Banka (Latvia) please contact our office. We will respond to any questions you may have and will help you open an account in Latvian Rietumu Bank or any other bank out of 70 foreign banks you may choose from.
