Frequently Asked Questions Can I operate my account remotely? What is the minimum deposit to maintain my account? Will the bank exchange my funds into the local currency (the Latvian Lats, LVL)? What do you mean by multi-currency account? How can I send funds into my account? Am I paid interest on my account? How can I withdraw cash from my account? How can I check my current account balance? Can I deposit checks or money orders into my account? Can I become a Bank Card Merchant? Can I deposit cash (ready money) into my account? Is all this legal? Can I operate my account remotely? The Bank offers a whole set of remote banking tools to operate your account. You can order banking software to operate your account via the Internet. You can operate your account by fax, too. For cash operations, the banks offer the ATM card and the option of depositing/withdrawing cash directly in bank offices. What is the minimum deposit to maintain my account? There is no minimum deposit or balance imposed on current accounts (with savings accounts it is USD 10,000 (Paritet) or USD 3,000 (Rietuma)). Will the Bank exchange my funds into the local currency (the Latvian Lats, LVL)? What do you mean by multi-currency account? The Bank will not convert any client funds into Lats or any other currency without the client's specific order. The multi-currency account feature gives you maximum flexibility. It allows you to maintain balances in a variety of different currencies within the same account. You can shift these balances at any time and can use the balance in one currency to make a payment in a different currency. How can I send funds into my account? Funds can be wired to your account at no cost to you. You can contact the Bank via email to get the proper account details for specific currencies, or you can rely on your own expertise and use the list of correspondent accounts for that purpose. Am I paid interest on my account? Interest is not paid on business accounts but corporate and privacy account holder savings accounts can be opened easily. How can I withdraw cash from my account? The Bank offers the ATM card for that purpose. You can also withdraw funds during a personal visit to the bank - we ask that you notify us ahead of time and have your valid passport with you. How can I check my current account balance? The Bank mails monthly statements free of charge. If you prefer, for purposes of privacy, the Bank can hold these statements for you rather than mailing them. Clients who have the remote banking software can get new account reports immediately at any time. Can I deposit checks or money orders into my account? Yes. The Bank accept checks, banker's drafts made in USD, GBP, FRF, DEM, as well as money orders and travellers checks in USD. Can I become a Card Merchant? Qualified legal business entities can become Card Merchants. The Bank currently handle VISA and MasterCard transactions. Can I deposit cash (ready money) into my account? Yes. As much as you want. Is all this legal? Absolutely Yes. Please don't hesitate to email us if you have any questions concerning banking with Latvian banks or opening an account. Phone +420-603757771

Homepage

Bank Information

Opening an Account