Account Opening, Servicing and Maintenance	Fees

When starting cooperation with the bank, the individual opens an account to be able to use the services offered by the bank. Swedbank offers a possibility to open a Private Account or Salary Account, and in addition - an Escrow and Securities Accounts.

After opening of a Private Account and receipt of the bank card, the customer can use money in the account to make payments in LVL or other currencies. The Salary Account is designed for receiving client’s regular income, such as salary, pension, benefit, at the bank. Upon opening a Salary Account with Swedbank, the customer may order a bank card to operate with funds in the account (shopping and withdrawal of cash from ATMs). The customer also has a possibility to use a short-term borrowing facility – a line of credit. Holding an account with Swedbank gives access to remote banking by signing up for Swedbank Internet Banking and Telephone Banking, as well as receiving other services offered by the bank.

To guarantee security in sale and purchase transactions, Swedbank offers its customers to open an Escrow Account. It reduces risks of transactions with real estate, cars or any other property.

By opening a Securities Account the customer may buy, transfer or receive securities from third parties independently or through the bank's brokers, and to invest into Latvian and global securities markets.

* Accounts opened before 1999 are single-currency accounts. The majority of clients have already requested change at the bank and have had their accounts transformed into multi-currency accounts. Existing clients can request the change through Swedbank Internet Banking site (by sending Bank Message) or at any branch.
From 1999 to end-2006, by default, the accounts opened for all customers were multi-currency accounts with Latvian lats as the basic currency, while other currencies permitted in the account were selected by customers themselves at the time of opening of the account or afterwards by registering changes.
Since end-2006, Swedbank offers multi-currency accounts to all new customers. Standard multicurrency account: Basic currency: LVL. Allowed currencies: AUD, CAD, CHF, CZK, DKK, EUR, GBP, HUF, JPY, LTL, NOK, PLN, RUB, SEK, USD.