AS «Meridian Trade Bank» (Latvia)

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AS «Meridian Trade Bank» (Latvia)

The history of AS «SMP Bank» has already began in 1994 after registration of AS «Multibanka» which in turn evaluated from Latvian branch of the Bank for Foreign Economic Affairs of the USSR – was founded in 1988, however it was nationalized in 1991 and became the Foreign Operations Department of the Bank of Latvia.

AS «Multibanka» merged with Joint Stock Company LTN Skonto Banka in 1995 which helped the bank to become the member of S.W.I.F.T. The usage of information systems REUTERS and INTERNET ensured the technical support for the bank’s activity on the international scale. In 1996 AS «Multibanka» became a member of EUROPAY INTERNATIONAL Association, which was transformed to MasterCard International, what in turn gave the clients the opportunity to use a wide range of card products. After acquiring in 2008 «SMP Bank», the bank had registered the new name – AS «SMP Bank».

Spring 2014 the bank changed its owners and again changed its name.  As a result, 51% of bank shares were passed to the minority shareholders, mainly to the representatives of the bank’s board – residents of Latvia. Currently, the bank holds the name – Meridian Trade Bank.

Now the bank is a member of Riga Stock Market, Latvian Central Depository and a member of Latvian Commercial Banks Association.

OPEN AN ACCOUNT IN MERIDIAN TRADE BANK

Types of bank accounts

Personal, corporate (all accounts are multicurrency).

The cost of opening of the account (bank tariff)

For legal entities:

– 700 EUR (if the company is registered in any of the following jurisdictions
);

– 350 EUR (if the company is registered in any jurisdiction other than indicated in the list mentioned above).

 

For natural persons – 200 EUR.

 

The cost for opening an account and activation of the account management service shall be written off the first payment credited on the account.

 

The bank also provides a service for the express opening of the account (bank account for individuals opens within 1 working day, for legal entities – within 2 working days from the date when the complete set of the documents are provided to the bank).

Additional fee for express account opening:

- for legal entities – 350 EUR;

- for individuals – 100 EUR.

 

Minimum balance at the account:

- for legal entities – 1000 EUR (or the equivalent in another currency);

- for natural persons – no requirements.

Representative offices

Russia: Moscow.

Management of the account

Via free of charge software – Internet Bank.

The cost for activation – 65 EUR.

Bank’s tariffs

Account maintenance for natural persons:

- active account – 10 EUR per month;

- passive account (there were no any operation through the account during the last 6 months) – 20 EUR per month.

 

Account maintenance for legal entities:

- active account – 20 EUR per month;

- active account (if the company is registered in any of the following jurisdictions
) – 70 EUR per month;

- passive account (there were no any operation through the account during the last 6 months) – 50 EUR per month;

- passive account (there were no any operation through the account during the last 6 months) – 120 EUR per month (if the company is registered in any of the following jurisdictions

).

 

Internal transfer within the bank – 5 EUR.

 

Transfers (EUR):

To other Latvian bank and SEPA countries:

- for natural persons:

urgent – 6 EUR;

express – 12 EUR.

- for legal entities:

urgent:

up to 50 000 EUR – 15 EUR;

from 50 000 EUR up to 300 000 EUR – 30 EUR;

over 300 000 EUR – 50 EUR;

express – 50 EUR.

Other international transfers:

- standard – 50 EUR;

- urgent – 65 EUR;

- express – 85 EUR.

 

Transfers (USD)*:

- standard – 70 USD;

- urgent – 90 USD;

- express – 110 USD.

 

*If the recipient is not registered in any of the following countries (European Union, CIS, OECD, ASEAN (with the exception of Brunei and Myanmar), Andorra, Gibraltar, Georgia, Hong Kong, China, Liechtenstein, Macedonia, Montenegro, Serbia) and the transfer amount comprises 10 000 USD or more – an additional commission of 120 USD is to be charged.

 

More detailed information about tariffs you can find on bank site.

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.

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.

Meridian Trade 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/English speaking.

Credit/debit cards

For natural persons: MasterCard, Visa, Maestro.

Other bank’s products

Loans, fiduciary services, documentary operations, 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 statutory documents. If the company is older than 1 year, you need to give the apostilled Certificate of Good Standing.

 

Documents for the account holder:

- original of internal passport;

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

 

Documents for the beneficiary:

- original of internal passport;

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

- 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 the application form, which we would be sent to you via email. After the receipt of the completed application form, we prepare the bank forms for signing by the attorney and beneficiary in our office.

Bank site

www.mtbank.lv

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