ABLV Bank, AS (Latvia)

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ABLV Bank, AS (Latvia) 

The bank was founded in 1993 on the basis of the regional branch of the Bank of Latvia in the city of Aizkraukle and initially got the name of the city and was called like Aizkraukles Banka. In 2011, the bank was renamed as ABLV Bank, AS.

Currently the ABLV Bank is a member of top 10 best Latvian banks due to the bank’s successful credit policy and other financial criteria. In the scope of credit policy, new programs of providing credits for individuals and private entities are developed alongside with mortgage lending.

The main purpose of client’s policy is framing the scope of clients who meet the basic requirements of the bank’s strategy of its further activity. The ABLV Bank uses the client’s policy that is recognized by the global banking community. The bank cooperates with individuals and private entities both on Latvian and international markets – and the bank should be aware of personal and professional activity of each client.

In 2012, the ABLV established the subsidiary bank in Luxembourg – ABLV Bank Luxembourg, S.A.

OPEN AN ACCOUNT IN ABLV BANK

Types of bank accounts

Personal, corporate (all accounts are multicurrency).

 

The bank opens accounts for legal entities registered in the following jurisdictions

The countries that were not included in the list of permitted jurisdictions will be classified by the bank as high-risk jurisdictions.

The cost of opening of the account (bank tariff)

For legal entities – 300 EUR.

For natural persons – 200 EUR.

This sum of money is written off after the fist entrance of cash means.

Representative offices

Belorussia, Kazakhstan, Tajikistan, Azerbaijan, Uzbekistan, Luxembourg, etc.

Management of the account

Free ABLV Internet banking.

Bank’s tariffs

Account maintenance for natural persons – 20 EUR per month.

Account maintenance can be free if the client has:

- long-term loan liability; or

- MasterCard Gold, Visa Gold or premium-card; or

- total amount of his deposits and funds on the client’s saving accounts, and securities exceed 50 000 EUR.

 

Account maintenance for legal entities– 50 EUR per month.

 

Intrabank transfer:

- all currencies except USD – 1,50 EUR;

- USD – 5 EUR.

 

Transfers (USD):

- standard – 100 USD;

- urgent – 150 USD.

 

Transfers (EUR):

- standard – 15 EUR;

- urgent – 30 EUR;

- express – 50 EUR.

 

Bank transfer (in EUR) within EEA, if the amount of payment is not more than 10 000 EUR:

- standard – 10 EUR;

- urgent – 20 EUR.

 

* Payments in USD are subject to the additional bank’s commission in the amount of 0,1% taken from the whole sum of the payment (max 500 USD) in case when all requirements below happen simultaneously:

- the country of recipient is located in offshore or in low tax area;

- the country of recipient’s bank is not Latvia;

- the country of recipient is different from the country of the recipient’s bank.

 

More detailed information concerning tariffs can be found on the website of the bank.

Terms of opening the account

Account opening consists of two stages: preparatory stage and opening of the account.

Preparatory stage includes gathering and providing us with the documents needed for account opening, preparation and signing of bank forms, documents delivery to the bank’s head office. The term of preparatory stage depends on you.

Reweaving of documents by bank takes 12-15 business days since the documents have been delivered to the bank.

ABLV Bank follows KYC policy and reserves the right to require additional documents what may lead to account opening term exceeding, as well as refusing of account opening without reasons explanation.

Staff

Russian speaking.

Credit/debit cards

Maestro, MasterCard, Cirrus, Visa.

The Bank also provides the opportunity to open a card account and get a payment card to your children, starting from the age of 7 years (provided that you are a client of the bank).

Other bank’s products

Trade finance, credits, fiduciary deals, safe box.

Documents for opening an account

Forms for signing are given in our office.

 

Company’s documents – you should give us the originals of all corporate documents, notarized and affixed with apostille. If the company is older than 1 year we shall be provided with the Certificate of Good Standing affixed with apostille.

 

Documents for the account holder:

- original of internal passport;

- original of foreign passport;

- if the attorney has resident company he shall provide us with Certificate of Registration and Articles of Association of this company.

 

Documents for the beneficiary:

- original of internal passport;

- original of foreign passport;

- if the beneficiary has resident company he shall provide us with Certificate of Registration and Articles of Association of this company.

The procedure of opening an account

You should visit our office  for filling up the questionnaire, signing bank forms, and for verifying documents for beneficiary and attorney. The personal meeting with the bank’s representative is not obligatory.

The requisites of the bank account may be provided by a bank before the real moment of account’s acceptance (opening).

Bank site

www.ablv.com

For further consultation concerning the terms of account opening in ABLV Bank (Latvia) please contact our office. We will respond to any questions you may have and will help you open an account in Latvian ABLV Bank or any other bank out of 70 foreign banks you may choose from.