How to open a bank account in Rietumu Banka AS

GSL reference about the bank What is it?

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GSL rating

rating

Beginning of cooperation

January, 1997

Last contact

April, 2025

Last update

April, 2025
  • the bank was founded in 1992;
  • the bank opens corporate accounts for companies with an actual presence and with an economic link to the country of incorporation;
  • the bank opens personal accounts for EU and non-EU citizens;
  • personal meeting with the potential client is mandatory for account opening;
  • requirements for minimum balance on the accounts of plaintiffs – from 10 000 EUR;
    term of account opening – case by case (check with a counsellor)

 

GSL rating
rating
Beginning of cooperation
January, 1997
Last contact
April, 2025
Last update
April, 2025
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General information and rating
General information and rating

2 188
Global rating
6
Countrywide rating
Countrywide rating of the head bank
Global rating of the head bank
Year of foundation
1992
History
The bank was founded on 14 May 1992. By the end of 1995, it had become the fifth largest bank in Latvia in terms of the size of assets. In the same year the bank started to develop a chain of regional information centres in the largest cities of both the CIS and the Baltic States.
Personnel
Over 600 staff. The languages they speak include English, French, Latvian, German, Spanish, etc.
Bank’s shareholders
SIA "Esterkin family investments" (Latvia) - 33,12%; «Boswell Consulting» LTD (International) - 33,11%; SIA "Suharenko family investments" (Latvia) – 17,34%; другие – 16,43% (no shareholders owning more than 5%)
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 requirements

    1 000
    Minimum balance, €
    No restrictions
    Transactions permitted per month
    10 000
    Initial deposit of funds, €
    1
    Deadline for the initial deposit, month
    Minimum balance, €
    Requirements for minimum balance on the accounts of merchant accounts - from 10 000 EUR
    Transactions permitted per month
    No restrictions on the number of transfers for current accounts
    Initial deposit of funds, €
    The initial deposit is equal to the minimum account balance
    Deadline for the initial deposit, month
    When opening an account
    Minimum turnover, €/year
    No restrictions on minimum turnovers
    How fast payments are executed
    Same day or next day

    Tariffs and services
    Tariffs and services

    50
    Outcoming transfer, €
    0
    Incoming transfer, €
    1 200
    Account maintenance, €/year
    N/A
    Payment limit for credit cards, €/day
    Outcoming transfer, €
    The fee for transfer in EUR within the European Economic Area is 40 EUR; to the Russian Federation and the Republic of Belarus is from 200 to 250 EUR; outside the European Economic Area is from 40 to 50 EUR.
    Transfer fee in USD is from 60 to 80 EUR; to the Russian Federation and the Republic of Belarus is from 200 to 250 EUR.
    Incoming transfer, €
    The bank does not charge a fee for incoming payments
    Account maintenance, €/year
    Service fee for a client - resident of the Baltic States, if all beneficiaries of the company are residents of the Baltic States is 25 EUR per month;
    Service fee for a client - resident of the Baltic States, if at least one beneficiary is a non-resident of the Baltic States is 100 EUR per month;
    Fee for servicing a high-risk client is from 500 EUR per month
    Distant access to the account
    Internet-banking
    Financial products
    The Bank specialises in financial services for businesses and individuals. The main focus of Rietumu's activities at present is servicing companies, including the implementation of individually designed credit and investment projects. The Bank facilitates the expansion of Latvian and Baltic companies into new markets, finances projects in industrial production, commercial and residential property, cooperates with fintech companies and ‘green economy’. The Bank continues to provide services to high net worth individuals, including wealth management services
    Credit/debit cards
    Bank cards can be issued

    Account opening procedure
    Account opening procedure

    Days to open for incoming transfers
    Case by case
    Days to open for outcoming transfers
    N/A
    References
    Not necessary
    Purpose of the account
    Savings & current
    Visit to the bank
    To open an account, a personal meeting with a potential client is mandatory
    Required
    Standard set of corporate documents; copies of passports of beneficiaries and contact persons. Documents confirming the experience and material status of the beneficiary and contact person
    Types of accounts
    Savings; Current
    Chances to open an account
    Predictable

    Banks of Latvia

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