Pricelist

The monthly fee is applied for company/company group, that represent high risk countries, complex ownership structures, specific high-risk business areas and/or in any other mean entail extended due diligence measures:

• company registered in Malta, Lichtenstein, Cyprus or outside the EEA;
• company/company group has at least one natural person (shareholder / beneficial owner) in its ownership structure, whose identification document is issued by Malta, Lichtenstein, Cyprus or outside the EEA and who qualifies as non-resident** in the Republic of Latvia;
• company/company group has at least one legal entity in its ownership structure, that is registered in Malta, Lichtenstein, Cyprus or is outside the EEA;
• company/company group has at least one natural person (beneficial owner) who is a politically exposed person;

• company/company group is performing any of the following economic activities:

  • gambling houses (casinos), organization of other gambling and/or betting activities;
  • production and trade of arms and ammunition;
  • currency exchange;
  • cash collection services;
  • mining industry and quarry works.
• the company conducts transactions with counterparties in increased risk countries;
• other criteria (e.g., cash transactions, etc.) that require extended due diligence measures.

** Person who does not possess a passport/ID card or any other identification document issued by the Republic of Latvia.

The fee is calculated on a daily basis for the total amount of funds in the customer’s accounts (except accounts linked to the cash pool account) in excess of the limits set for the respective currency, multiplied by the central bank’s rate and divided by the number of days (360). The fee is not applied if the central bank has set a deposit rate which is equivalent to 0 or is positive for the respective currency.

Example. If the total balance of the current account at the end of the day is 400,000 EUR and the ECB rate is -0.5%, then the fee for account balance on the given day is 400,000 – 300,000 = 100,000 * 0.5% / 360 = 1.39 EUR.

The fee is charged by the 15th date of every month for the preceding month.

The EUR limit set in the price list is raised but in any event not more than up to 10,000,000 EUR (ten million euros), adding to the limit set in the price list any outstanding loans (incl. drawn credit facility limits) and leases issued to the customer by Swedbank Latvia and any received and outstanding factoring limits. The limit is only raised for financing agreements where the base rate (EURIBOR) is set at no less than 0 and is not raised for fixed-rate financing agreements.

Customers whose total balance of funds in bank accounts (except accounts linked to the Cash Pool Account) as of 31 December exceeds 10,000,000 EUR and this balance is 30% higher than the Customer’s total balance of funds in bank accounts on the average per day during the current year, and which the bank will have notified in writing 30 days in advance, will, in addition to the fee for balance of funds, be charged an annual threshold fee for large increase in account balance at the rate of 0.13% from the difference between the total balance of funds in the accounts as of 31 December and the customer’s total balance of funds on the average per day during the current year, adding a 30% increase to the latter.

Example: if the total balance of current accounts stands at 15,000,000 EUR at the end of the day on 31 December but the customer’s balance of funds in accounts has been 5,000,000 EUR on the average per day during the current year, then the annual threshold fee for large increase in account balance on the particular day is (15,000,000 – (5,000,000 + 30% from 5,000,000))*0.13% = (15,000,000 - 6,500,000)*0/13% = 11,050 EUR.

The fee is charged by the 15th day of January for the preceding year.