My Experience with Rietumu Bank please read!!!

[JohnLocke]

Do you still communicate with them or did you leave them and headed towards another‌ bank?

 

[GlobalAdvertising]

Do not use this bank, they having big issues and froze all my funds.

 

[ak2000]

I have to communicate with them (including hiring some‍ badass lawyers) as they froze multiple six figures of my funds and heading somewhere else⁠ the second I get the money out

 

[ak2000]

@GlobalAdvertising how long ago did it happen for you? last couple‍ of days?

 

[The24]

I have 3 desperate customers,
all three had the following and identical problems:

1. It‌ is no longer possible to pay in USD
2. USD accounts converted into EUR
3. Account closure

 

[ak2000]

@The24 Identical situation here. All in the last⁠ couple of days.

 

[The24]

For now the solution to get the money is:
A - transfer to one of‌ your current accounts
B - Send the money to one of your customers who has‍ paid

 

[ak2000]

They froze my accounts unfortunately. Cannot make ANY outbound or inbound payments to ANYONE 🙁

Crazy.

 

[call2vn]

Same with me 🙂

 

[ak2000]

To all those impacted by this: can you pls PM / follow me so we‌ can bust their b**s together until the release our f*** money?

 

[call2vn]

How long you already Due Diligence with Rietumu?
We need take out the fund⁠ ASAP.
THank you!

 

[ak2000]

We all do my friend 🙂

A couple of days, sent them pretty much as soon‌ as they sent me that message...and you, how long since you sent the documents?

 

[diablo]

I feel sorry for all of you guys that lost money with Rietumu Bank it‌ seems they are on the way Down!

Can anyone of you confirm that they provide‍ all requested documents to them exactly as per their request and they still don't pay⁠ out the money to you?

 

[alex salc]

Guys please contact me via PM to coordinate accounts openings at another bank and transfer‌ the money.

As the process is not so easy we will need to work togheter‍ to find the best bank.

Thanks

 

[call2vn]

Anyone successful on closure account of Hong Kong company and received all money to another‌ bank account.
I am waiting for Rietumu enhanced-KYC than transfer all money to another bank‍ account.

 

[pseud0]

@call2vn Where do you have another bank account? We still wait for the due diligence‌ to be finished, however we are BZ company and looking for an alternate bank

 

[call2vn]

I have another bank account in Hong Kong. But due diligence⁠ take so long time. I don't know how many days they will keep our money.⁤

 

[pseud0]

Well, too many accounts are frozen. They clean up Latvian bank sector from so⁠ called shell companies. I guess it would take a couple of weeks, but truly hope⁤ they won't get broke and take our money with. I'd appreciate if other guys could⁣ share their experience, although this forum is public, so it would be better to share⁢ it in private but I do not see any PM solution.

 

[Flxy]

ak2000, how is your Rietumu account?

We are in a similar situation, after providing all‌ requested documentation. Our income is very traceable and clean.

I have a suspicion that they‍ are deliberately holding accounts frozen as long as possible due to liquidity problems. It's a⁠ real "bank run" for them, if all shell-companies, as they call them now, would leave⁤ altogether.

However, after 2 months notice of account termination, they are contractually obliged to release⁣ funds.. By 21st of May we shall see whether they go bankrupt (and we'll have⁢ to claim from deposit protection fund up to 100k EUR) or we are able to︀ withdraw full amounts..

 

[Flxy]

Obviously, nobody should touch Rietumu with a barge-pole now. Their upcoming 80 mil EUR fine‌ (due to laundering in France) - they are trying to appeal it, but if it‍ goes through, it will be the last nail in their coffin.