Account in Rietumu Banka
Our company offers you the opportunity to open an account with Rietumu Banka, one of the largest banks in Latvia.
The accession of the Republic of Latvia to the European Union has had a positive impact on its banking system, significantly reducing the degree of financial risk. As in all EU countries, deposits in Latvian banks are guaranteed by the state, which itself, in case of difficulties, can count on external economic assistance. The political significance of the Baltic States for the European Union is disproportionately greater than their economic weight, which is believed to provide additional guarantees of stability in the region. In addition, the Latvian government has always followed all the recommendations of the European Central Bank and currently has, despite its low overall capitalisation, one of the healthiest banking systems in the “old world”. For all these reasons, Latvian banks boast a high level of reliability.
Rietumu Banka was founded in 1992. It is one of the largest Latvian banks, which annually occupies leading positions in the lists of Latvian commercial banks in terms of profit levels, assets and other indicators. Rietumu Banka focuses primarily on foreign clients, actively entering the banking services markets of the CIS and Europe. Rietumu Banka has demonstrated its willingness to work with virtually any client, including in the field of e-commerce and information technology – areas that require complex technical solutions. Opening merchant accounts for European companies within the framework of Internet acquiring is a specialisation of Rietumu Banka. In fact, Rietumu Banka is a full-fledged payment system with its own first-level processing centre.
Open an account with Rietumu Banka
The range of services offered by Rietumu Banka is quite diverse. However, it is worth noting separately the solutions in the IT field, in particular, the possibility of direct access to the Forex market. Another interesting offer is the opportunity to obtain a residence permit in the EU in exchange for a subordinated loan in the amount of 200,000 lats (about 300,000 euros). Rietumu Banka is also one of the issuers of World Signia, a luxury credit card from MasterCard, which, among other things, provides a 24/7 concierge service in Russian.
With our help, you can open an account with Rietumu Banka quickly. Among the advantages of Rietumu Banka, the availability of Russian-language service is particularly relevant, since all bank employees speak Russian. The entire Internet banking system is also in Russian. The main services provided by Rietumu Banka are listed below.
| Account opening fee | 400 USD |
| Timescale | Up to 3 weeks after the bank receives all the documents |
| Presence at the bank required | Not required |
| Russian-speaking staff | All staff speak Russian |
| Branch or representative office in Moscow | No |
| Representative offices in other European countries | France, Romania, Ukraine |
| Internet Banking | Available |
| Other remote account management options | Home Banking, Rietumu ID |
| Debit/Credit cards | VISA, Master Card |
| Initial deposit amount | Not specified |
| Official website | www.rietumu.ru |
At Rietumu Banka there is no need to open a separate foreign currency account for each currency – corporate accounts and accounts for individuals are initially multicurrency, which allows you to quickly make and receive payments in all major currencies. The bank also offers various remote account management options. In addition to internet banking, this is a special Home Banking system, as well as its own highly secure identification system Rietumu ID, and its own Internet payment system.
Rietumu Banka Fees for Main Services
| Current account maintenance | 10 EUR per month |
| Maintenance of an account with a balance of less than EUR 25,000 for a three-month period, or an account with a monthly turnover of less than EUR 50,000 | 50 EUR per month (not charged for the first 12 months) |
| Transaction fee | Publicly available on the bank’s website |
| Card maintenance fee | MasterCard Light and Visa Light – 30 EUR per year MasterCard Business and VISA Business – 60 EUR per year MasterCard Gold and VISA Gold – 120 EUR per year MasterCard Platinum and VISA Platinum – 300 EUR per year MasterCard World Signia – 2000 EUR per year |
| Internet banking maintenance | Free of charge |
| Home Banking connection | 50 EUR |
| Home Banking fee | 10 EUR per month |
| Rietumu ID | Free of charge for every new client |
Current Account with Rietumu Banka
Formally, Rietumu Bank strictly adheres to the “know your customer” principle. However, in practice, the due diligence checks carried out when opening an account may be somewhat softer than in banks in other prestigious jurisdictions. Nevertheless, in addition to standard documents, information on the activities and approximate income of the company and its owners may be required.
List of documents required to open a foreign currency account with Rietumu Banka
• Original certificate of company registration
• Original company charter
• Documents confirming the beneficiary’s ownership
• Power of attorney for the account manager
• Certificate of Good Standing (if the company is older than 1 year)
• Identity document of the account manager
Rietumu Banka also requires you to fill out a set of banking questionnaires and forms. Our company will carry out this procedure for you independently. We are also ready to undertake all actions related to the opening of merchant accounts, connection of internet acquiring through our payment system and processing of payments to a merchant account in this bank.
If you intend to open an account or a merchant account with Rietumu Banka, please contact us. We will provide you with all the services and make the account opening procedure as simple as possible. We will also provide you with all the information you are interested in about Rietumnu Bank, its additional services and tariffs, fill in the necessary documents, and provide comprehensive assistance.
