Bank Accounts for Ukrainian Refugees in Latvia

Following the invasion of Ukraine by Russia, a number of banks such as Wise, Revolut and bunq have made it easier for Ukrainian refugees in the EEA zone and the UK to open bank accounts. Banks in Latvia have also simplified account opening process and removed fees for Ukrainians in Latvia to have access to banking services.

Read this post in Ukrainian: Банківські рахунки у Латвії для біженців з України

Latvia is a member of the European Union since 2004. Therefore, it is in the SEPA zone, every bank account has an IBAN number and the currency of the country is the Euro.

SEB Bank

SEB Bank provides support for Ukrainian refugees forced to leave their country due to Russian invasion of Ukraine. As part of its support, the bank will not apply a cooperation assessment charge to Ukrainian refugees, and will provide daily banking services (current account, payment card and the internet bank) – the Basic plan – free of charge. It will also issue a free code calculator for the use of the internet bank.

How to Open SEB Account
To open an account with SEB, you need to book an appointment at the branch and bring a valid identification document. As receiving the proof of the refugee status may take some time, the bank welcomes customers even without such proof.

A free payment card is included in the Basic plan. The card can be applied for during the visit and received at the customer’s chosen place and in the chosen method.

Industra Bank

Industra Bank has introduced a simplified procedure for opening a current account and payment card in Industra Bankafor Ukrainian refugees in Latvia. Documents for opening an account and payment card can be issued at all Industra Bank customer service centers. To open an account and issue a payment card, please come to the bank’s service center in person with your Ukrainian passport.

Fees for Industra Bank Account for Ukrainian Refugees in Latvia

Account application review: free
Account opening and use: free
Issuance and use of Mastercard Debit payment: free

Luminor Bank

Luminor Bank is not taking any fees from payments made to Ukrainian accounts. The bank will compensate fees for all such payments from 24 February 2022.

The bank offers support to Ukrainian refugees regarding banking services, which include faster process for account opening, opening accounts free of charge and issuing free code calculators, among other.

Swedebank

Swedbank is Latvia’s largest bank with over a million customers. It has over 400 ATMs and more than 50 branches within Latvia. Swedebank in Latvia facilitates account opening for Ukrainian residents. The account opening documentation processing fee is not applied for Ukrainians.

How to Open Swedebank Account for Ukrainian Refugees

Book a visit to the branch on Swedbank’s website at “Book a visit” and choose the topic “Account opening for resident of Ukraine” or call 67445555 on business days from 08:00 a.m. to 08:00 p.m.
Ukrainian citizens have to present their identity document (passport or ID card) issued in Ukraine. If the person also has any other document issued in Latvia (such as a visa, residence permit etc.), then this must be presented too.
The fees for account opening and documentation check are not charged to Ukrainian residents.
The account is opened after completing the customer due diligence process but no later than within 2 business days.

Citadele Bank

Citadele has made its banking services are available to Ukrainian refugees on favourable conditions.

Ukrainians refugees can visit Citadele branches in Latvia as well as Lithuania and Estonia to apply for account opening without fee.

Citadele Bank has debit cards for accounts that are contactless and offers discounts in partner stores. They also offer comprehensive mobile banking, payment cards that have E-Ticket options, term deposits, current and savings account, a wide range of loans, private banking and business financing. They have a wide range of ATMs and branches that are well networked.