2 reasons why you don't want to bank in Latvia!

[yalil]

Here are 2 reasons for why you don't want to open an account with a bank in Latvia.

1. You don't gain any privacy at all, Latvia is not considered a offshore country but part of the European Union, that mean Tax Information Exchange Agreements are in full force here and you will get reported to your local tax office as soon as you open the bank account.

2. You pay lot's of fees to open the bank account in Latvia and on top, you pay a monthly fee and high fees for every single transaction you are doing with one of these banks. Once you have your business running and you think everything is fine because the money is floating into your account you will soon face lots of questions from the bank.

It will start with a simple request to get prove of the goods and services sold, once provided they will continue asking questions. So they will request more and more documents, new certificates proving the company to be in good standing and a lots of personal data which they already should have known and asked for from the very beginning.

All in all it's a no go, regardless what bank in Latvia you are looking at it seems.

Here is one you want to avoid Latvijas Banka

 

[JohnLocke]

Do you have personal experience with this bank you posted a link for or what bank in Latvia has done this to you?

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[yalil]

Yeah I have personal experience with these followers Rietumu Banka - for business and private banking. Get more from bank accounts, credit cards, term deposits and investments they are asking for hundred of documents once you just get started with them. In the beginning they will help you to get everything done and get started with your new bank account, then once you start receiving money in an substantial amount they begin to ask questions.

After 6 or 9 months they start requesting new incorporation documents (same as before) and certificates that the company is still in good standing, this costs you money each time.

 

[ghostbuster]

If this is all true then you're right I don't want to open any bank account in Latvia. It smells like a lot of troubles doing so.

 

[aage]

You sure about it. I have seen large corporation using the bank you are mentioning in Latvia and they won't for obvious reasons not bank there if it's trouble.

 

[walterz]

It feels so bad for a bank company having so much issue. I won't open any account in Latvia then

 

[footi gupt]

i agree bank account opening fee in latvia is very high.
I have once visited latvia with my friend for business related trip. My friend told me this.
you have confirmed it, now i am sure

 

[johnskywalker]

Thanks for this warning, although I don't plan on opening a bank account in Latvia since I didn't hear from this country that much, this is still helpful because who knows I might be reading about it someday.

 

[deadpool]

Recently someone posted saying they wanted to open Latvian bank account. I was surprised why they wanted to do that. Hope he/she reads this post.

 

[yves]

I have heard a lot of bad stuff about their banking practice in Latvia banks but I still want to try to get an account with one of the major banks there to see my self if it's that bad.

 

[erzascarlet]

I never heard about Latvia bank before. But from your article above It seems they're horrible and have a bad services. Thank you to let me know this stuff OP

 

[yohan]

is baltikum bank accepts the deposits and withdrawels fron gambling ssites

 

[thinkat]

I don't know who recomended you in first place this bank. ( high comissions / high fees / easy block the account)
They are very expensive and they have alot of international problems.
I think is the worst bank in Latvia.

Baltikums is now BlueOrange bank , you may enter on their website and contact them through livechat support.

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[lookingforward]

As a Latvian, agree.

But if anyone will need help with Rietumu, message me.

 

[crownblown]

lookingforward said:
As a Latvian, agree.

But if anyone will need help with Rietumu, message me.
Click to expand...

They are a scam and don't Rietumu any longer but Orangesomething... there are a few threads about it. If you are selling / advertising without to be "green" you will get warning points!

 

[lookingforward]

crownblown said:
They are a scam and don't Rietumu any longer but Orangesomething... there are a few threads about it. If you are selling / advertising without to be "green" you will get warning points!
Click to expand...

No, i just have a good friend of mine in Rietumu, and i never had problems there (maybe because i was local). ALSO im not advertising anything on that forum, except my web pratice, so please, pass by your points to yourself, thank you.

 

[Internationaloff]

Latvian banks works fine with Russian and Ukrainian citizens. thu&¤#

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[clemens]

here we go BlueOrange Bank former Baltikums Bank Review, wht you think? they Work fine, but I have a network of people which I'm working with on a daily basis, most of them warned me to not open any account with any bank in Latvia!

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One of my favorit articles in Mentor Group ~ Sending money anonymously archieve Financial Anonymity

 

[clemens]

lookingforward said:
No, i just have a good friend of mine in Rietumu, and i never had problems there (maybe because i was local). ALSO im not advertising anything on that forum, except my web pratice, so please, pass by your points to yourself, thank you.
Click to expand...

For how long have you been a customer there?

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One of my favorit articles in Mentor Group ~ Sending money anonymously archieve Financial Anonymity

 

[lookingforward]

clemens said:
For how long have you been a customer there?
Click to expand...

Sorry for late reply, i am still customer of Rietumu since 2012, also my best friend works in BlueOrange, if anyone will need help, just let me know.