OREANDA-NEWS. February 19, 2008. Please note that on April 1, 2008 the Rietumu Bank introduces some changes in charging the service fee for maintaining the dormant accounts of corporate clients, whose legal country of residence is other than Latvia, reported the press-centre of Rietumu Bank.

Hereinafter the service fee of EUR 50 for maintaining the dormant accounts will be withheld each month from corporate current accounts, non-residents of Latvia, if within three (3) subsequent calendar months the average monthly balance on the client account (or a group of client accounts jointly) is less than EUR 10000 (or the equivalent in other currency).

All currencies held on client account are taken into consideration in calculation of average monthly account balance.

A “group of client accounts” combines all corporate accounts of the client in the Rietumu Bank (current, term deposit, card, investment accounts, etc.) as well as related accounts of other legal and private entities (holding companies, shareholders, beneficiary owners, company managers, etc.).

Alterations in charging the service fee for the dormant account maintenance of corporate clients will inure on April 1, 2008. The tariff will be charged considering the client account balance throughout the previous three (3) months, that is January, February and March of 2008.

Criteria of charging the monthly EUR 50 service fee for maintaining the dormant corporate accounts of the Latvian residents remain unchanged. The fee will be withheld from these accounts, if within three (3) subsequent calendar months client account (or a group of client accounts jointly) has:

average monthly balance of less than EUR 10000 (or the equivalent in other currency);
or
monthly credit turnover of less than EUR 50000 (or the equivalent in other currency).

We would also like to remind that the fee is not applicable to clients who use loan or overdraft facilities in the Rietumu Bank, as well as to new customers within first six (6) months from account opening date (this applies to both residents and non-residents of Latvia).

The Bank ceases to charge the fee if the average monthly balance or turnover of the client account group exceeds the threshold amount(s) set or in case the Rietumu Bank issues a loan to the client.

Should you require any additional information on the dormant account maintenance fee, please contact any representative office or branch of the Rietumu Bank, or contact us via remote banking systems Rietumu BankWorld or Home Banking; you may alternatively call the Client Information Centre on + 371 67025555 (round-the-clock) or contact us by fax +371 67025588.