M2M Europe AS (Latvia)

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Bank M2M Europe is convenient and professional private banking that was founded in 1992 and has been working till 2013 under the brand name Latvijas Biznesa banka.

In May 2013, a banker and a co-owner of the group VMHY Andrei Vdovin bought 100% of shares of Latvijas Biznesa banka and later that year in June the Bank M2M Europe was founded. This is the only bank in Latvia specializing exclusively on servicing wealthy clients. In September 2014 the bank celebrated «the small anniversary» being the first successful year of work under the new brand name during which the number of bank’s clients exceed 300 people and the assets under the management of the Bank M2M Europe and M2M Asset Management constituted 128 millions of euro.

TO OPEN AN ACCOUNT IN BANK M2M EUROPE

Types of bank accounts

Personal, corporate (all accounts are multicurrency).

The cost of opening of the account (bank tariff)

For natural persons – 200 EUR.

For legal entities – 400 EUR.

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

 

Minimum balance at the account (for natural persons and legal entities) – 100 000 EUR.

This amount can be in a form of account balance, deposit or securities portfolio.

Representative offices

The bank has no representative offices in other countries.

Management of the account

Via software – Internet Bank.

Bank’s tariffs

Account maintenance for natural persons:

- in case the securities portfolio is lower than 500 000 EUR (per six months) – 100 EUR/six months;

- in case the securities portfolio is higher than 500 000 EUR (per six months) – free of charge.

 

Account maintenance for legal entities:

 - in case the securities portfolio is lower than 500 000 EUR (per six months) – 350 EUR/six months;

- in case the securities portfolio is higher than 500 000 EUR (per six months) – 150 EUR/six months.

 

Transfers (EUR):

Within EEA: 

- standard – 25 EUR;

- express – 35 EUR.

Payment charge is paid in equal parts with the recipient.

Beyond EEA:

- standard – 35 EUR;

- express – 50 EUR.

Payment charge is paid by the originator.

 

Transfers (USD):

- standard – 35 USD;

- express – 50 USD.

Payment charge is paid by the originator.

 

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 the documents needed for account opening, preparation and signing of bank forms. The term of this stage depends on you.

The procedure of consideration the documents and reaching the decision by bank regarding opening an account takes from 2 weeks since the documents and forms have been delivered to the bank.

Bank M2M Europe 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/English speaking.

Credit/debit cards

MasterCard.

Other bank’s products

Crediting, fiduciary services, trade finance, safes.

Documents for opening an account

Application forms are to be provided during the personal meeting with private-banker (the meeting can be held in our office). 

 

Company’s documents – originals of all statutory company’s documents need to be provided. In case that from the date of company incorporation has passed more than one year, the Certificate of Good Standing is required (duly legalized and apostilled).

 

Documents for the account holder:

- original of internal passport;

- original of foreign passport (in case of presence of it).

 

Documents for the beneficiary:

- original of internal passport;

- original of foreign passport (in case of presence of it);

- CV;

- documents proving your degree and professional expertise (diploma, certificates etc.);

- employment certificate or copy of employment records book;

- any documents proving the beneficiary holds shares of other resident companies;

- documents proving property’s ownership (certificates from the Registry on ownership of movable and immovable property);

- bank statements as of beneficiary’s accounts at other banks (deposit data, balance details).

The procedure of opening an account

You need to fill electronically and send us back the survey questionnaire. A completed questionnaire will be sent to the bank for analysis. In case the bank approves an account opening we will arrange a personal meeting of the attorney and beneficiary owner with the bank’s private-banker.

Bank site

www.bankm2m.com

For further consultation concerning the terms of account opening in Bank M2M Europe (Latvia) please contact our office. We will respond to any questions you may have and will help you open an account in Latvian M2M Europe or any other bank out of 70 foreign banks you may choose from.