How to open a bank account in Incognito Bank (Latvia)

GSL reference about the bank What is it?

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GSL rating

Beginning of cooperation

July, 2013

Last contact

April, 2024

Last update

March, 2024
  • opens current accounts;
  • the bank specializes in providing services to non-residents, incl. offshore;
  • there are no minimum balances requirements;
  • to open an account, a personal meeting with a potential client is mandatory;
  • the term for opening an account – case by case (check with the consultant)
GSL rating
Beginning of cooperation
July, 2013
Last contact
April, 2024
Last update
March, 2024
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General information and rating

4 678
Global rating
13
Countrywide rating
Countrywide rating of the head bank
Global rating of the head bank
Year of foundation
1991
History
The bank was founded in 1991. For the last 10 years, he has specialized in servicing non-residents, incl. offshore companies. In 2010, a branch of the Bank was opened in Cyprus. Opening accounts, both in the Bank in Latvia and in a branch in Cyprus
Personnel
The Bank employs over 60 employees. Service takes place in English
Confidentiality
Judicial Cooperation Agreement with Russia is signed; Double Taxation Agreement with Russia is signed; AML legislation is strictly observed; Active member of OECD, FATF, Basel Commitee, Egmont Group etc.
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    Minimum requirements

    Minimum balance, €
    Transactions permitted per month
    0
    Initial deposit of funds, €
    0
    Deadline for the initial deposit, month
    Transactions permitted per month
    The bank does not set limits on the allowed number of transfers
    Initial deposit of funds, €
    There are no requirements for the amount of the down payment
    Minimum turnover, €/year
    There are no minimum turnover requirements
    How fast payments are executed
    A standard transfer is executed by the Bank with a value date + one banking day from the date of receipt of the payment order. An urgent transfer is executed by the current date, if the payment order was received by the Bank before: for EUR - 16.30; for USD - 17.30; for RUB - 14.00. Express transfer is performed out of order with the current date

    Tariffs and services

    40
    Outcoming transfer, €
    0
    Incoming transfer, €
    600
    Account maintenance, €/year
    2 800
    Payment limit for credit cards, €/day
    Outcoming transfer, €
    The transfer fee is USD (OUR): standard - EUR 70, urgent - EUR 90, express - EUR 110; for USD (SHA): standard - EUR 55, urgent - EUR 75, express - EUR 95. For EUR (OUR): standard - EUR 40, urgent - EUR 60, express - EUR 80; for EUR (SHA): standard - EUR 25, urgent - EUR 35, express - EUR 60.

    Transfers to another bank, if the amount exceeds EUR 1 000 000 or the equivalent in another currency - EUR 150 + commission for the corresponding payment
    Incoming transfer, €
    The commission for crediting is not established by the Bank
    Account maintenance, €/year
    The Bank's commission for opening an account is EUR 350. Account maintenance fee - EUR 50 per month. Account closing fee - EUR 100
    Payment limit for credit cards, €/day
    MasterCard Gold. Daily limit for one card for withdrawing cash from ATMs or bank terminals - EUR 2 800 monthly limit for withdrawing cash - EUR 15 000 or equivalent
    Distant access to the account
    Internet banking allows you to monitor and manage cash flows in real time. Possibility of connecting one DIGIPASS device (issue - EUR 60, connection to an existing device - EUR 25) to various accounts of clients of a single group. The use of the Internet bank is free of charge. It is also possible to connect to the Internet bank in information mode with free service
    Financial products
    The bank presents a line of classic banking products: settlement and cash transactions, conversions, remote account management, deposits, check transactions, letters of credit, bank guarantees, credit services, brokerage services, fiduciary services. In addition, for private clients, the Bank offers services in helping to obtain a residence permit in Latvia
    Credit/debit cards
    MasterCard Gold (credit card). The annual fee is EUR 140. Since the card is a credit card, security is required (only for the main card) - at least EUR 1 000 or USD 1 000 (depending on the selected currency). Credit limit volume - up to 75% of the collateral amount

    Account opening procedure

    Days to open for incoming transfers
    Case by case
    Days to open for outcoming transfers
    Case by case
    References
    Not necessary
    Purpose of the account
    Current
    Visit to the bank
    To open an account, a personal meeting with a potential client is mandatory
    Required
    Full package of corporate documents; copy of the beneficiary's passport, account manager's passport, information on the company's activities and the beneficiary
    Types of accounts
    Current
    Opening procedure and Due Diligence
    It is possible to open an account without visiting the country where the bank is located
    Chances to open an account
    Predictable
    Business description
    Moderately detailed: along with a description of the business, it is necessary to provide information on the sources of origin of funds

    Banks of Latvia

    Bank
    The cost of opening an account, $
    Global rating
    Countrywide rating
    GSL rating
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