My Experience with Rietumu Bank please read!!!

[JohnLocke]

Check this thread before you consider using this bank Stay away from Rietumu banka

 

[lostman]

Thank you for link @Admin was helpful.

 

[negon]

It's always good to check the forum here for other threads in order to avoid‌ to miss important information. Anyway, every statement, post, review, scam report on a forum (this‍ and every other forum) has to be re-investigated be the individual since you can't believe⁠ everything that you read on the Internet! Just a hint thu&¤#

 

[lostman]

So how can I "re-investigate" this bank and know they are scam or not?

 

[DeMajor]

Why would they need an EIN number? they⁤ are not US based! ??

 

[hofo]

I'm surprised about all the⁠ Baltic banks that come online just to see them reported as scam a year later!⁤ Is this a new trend within the banking industry to operate scams?

 

[Thirsty Beaver]

They need EIN for US registered companies! May be its new regulations‍ imposed by US.

 

[negon]

Do they also require you to comply to FATCA regulations ?

 

[DeMajor]

ahh crap.. you are in the US!

 

[Thirsty Beaver]

For the time being no, but sure it is on the way ..........!

 

[Richmond]

I closed my personal bank account two years ago.

 

[Norbert]

Please stay away from Rietumu Bank. We had the worst experience ever during our trial‌ period. They freeze your account, they block your money, they act with your money as‍ it is their money. The ask you questions and ask for stupid documentation and freeze⁠ the account. We now had experience with a small 6 digit amount, and at the⁤ end we lost a high five digit amount. We internally decide now to leave it⁣ and not go with a lawyer. As it is not big money for us and⁢ the Hazzle to much. Please do not get yourself or your company in such a︀ Situation. Stay away from this Bank. Go for any very good and serious Swiss or︁ Luxemburg or Austrian Bank etc.

 

[diablo]

you already posted this in︂ another thread! thanks for the information anyway about Rietumu Bank thu&¤#

 

[maxmoney]

Thank you for letting us︂ know. I have read lots of horror stories around about this bank and the people︃ behind the entity. It's really not good reading I found about them.

 

[negon]

Do you think there is an alternative to this bank just one working similar?

 

[Sirhips]

Rietumu bank 'compliance' has placed my account on⁠ 'review' and blocking payments and transfers.
All requested documentation has been given, but no feedback.⁤
Any advice on how to progress?

 

[Okanda Fernando]

Thank you for the information

 

[alex salc]

I have the same problem....can we talk in private to exchange⁠ information pls?

 

[212]

Corporate account frozen too, in talk with "compliance" department since November, still in review after‌ all documents have been submitted

 

[ak2000]

Same here. All of my USD balances were transferred into EUR overnight with to prior‌ authorization and then all funds frozen the next day by "compliance" (cannot make inbound nor‍ outbound payments)

They sent a couple of hastily written messages in very bad English. Been⁠ them for 5+ years, it's very unlike them. Spoke to a them on the phone,⁤ they didn't really know what was going on, there was a lot of noise and⁣ shouting in the background, my account manager's phone line (previously very available when called), was⁢ allegedly always "engaged"

They allegedly need to perform "enhanced due diligence" on the account. Provided︀ all required documents (within 24h) to get the funds out ASAP, no reply so far.︁

There is something going on with this bank, and it's NOT good things........