Opening a bank account

Can I open a bank account in Latvia? What documents are required to open a bank account?

To open a bank account in Latvia, a foreigner is subject to the same rules as nationals. The only difference is that banks need to carry out an assessment of the third country national. Banks will check whether you have had accounts with any other banks in Latvia or abroad to see if you have a negative credit history (debts). To open a bank account, you will need to prove your identity: a valid photo ID and proof of your declared place of residence.

The initial verification of documents and information may take several days and will be subject to a fee (the verification period and fee are set individually by each bank). The approximate cost of opening a current account is EUR 200. When you go to the bank, you must bring an identity document issued outside the European Union, the European Economic Area or the Swiss Confederation.

Persons granted international protection status: asylum seeker, refugee or alternative status are not charged for opening a basic bank account.

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