Frequently asked questions

In Internet Banking, the maximum account statement period is 2 years. If you need a statement for the last four years, you need to request 2 account statements for 2 years. If you request the statement at branch, there is no limit to the period, but keep in mind that a fee will be charged for every 6 months.

The regular account statement can be requested here.

“Payments, cards, accounts > Account > Statements and reports > Order automatic statement”.

The reports will be delivered here.

“Payments, cards, accounts > Account > Statements and reports > Stored statement files”.

The regular account statement details include:
Operation date, document number, transaction amount, payment details, balance.

The extended account statement details include:
Operation date and transaction archive number, document number and transaction code, beneficiary name, registration number, payment details, beneficiary’s account number and beneficiary bank’s SWIFT code, transaction amount (debit/credit).

Additionally, various filters are available.

POS reports can be requested here.

Payments, cards, accounts > Account > Statements and reports > POS reports

Balance sheets can be submitted by entering balance sheet values here.

“Payments, cards, accounts > Account > My finance report”

• A payment to other person’s Swedbank account in Latvia is done immediately both on business days and non-business days at any time of the day.
• Time of submitting for domestic payments in EUR to other bank in Latvia - on business days before 16:00 hours.

Further information about payment times and prices is provided in the Price list.

• If the payment was made to other Latvian bank, it may be cancelled within 15 minutes by calling 67 444 444.
• If the payment was made between Swedbank account, it may not be revoked. In such an event, you need to contact the payee (account holder) and ask them to return the payment. If this is not possible, an alternative route is to file a payment revocation through the bank (the revocation form is available in the section “Bank messages”). Please note, however, that the bank is unable to revoke a payment without the payee’s consent.

This could be due to a couple of reasons:

• The account lacks funds for executing the payment or paying the fee, if applicable.
• The payment has been prepared with a future date (in such an event the payment status will be “Awaiting execution date” under “List of payments”).

If none of the reasons above match your situation, send us a message via Internet Banking or call the bank on 67 444 444.

If the account lacks sufficient funds for standard or economy execution, then the payment waiting time is 10 calendar days, whereas express payments are cancelled immediately.

The IBAN (International Bank Account Number) is the customer’s account number in banks and other financial institutions as assigned according to the international ISO 13616 standard; in Latvia it consists of 21 character. Read more about IBAN here.

Use the international payment form to make such a payment.

If the legal name or forename/surname of the payee don’t match the account number (IBAN), then payment to a Swedbank account will not be executed. In case of payment to another bank in Latvia, it will be forwarded to the beneficiary bank that is entitled to either execute the payment based only on the IBAN account number stated or reject the payment.

Make sure that’s you’ve chosen the appropriate payment form when making the payment.

Check:

1. Whether the payee’s (beneficiary’s) details are entered correctly.
2. Whether the appropriate payment form has been selected - if the payment was made outside the EEA and the European Union, then choose the international payment form.
3. Get in touch with the payment beneficiary and clarify the details.

You can verify that by checking the account balance, account statement or payment history.

A special identifier that the invoice issuer assigns to the payment recipient. The reference is required in order for the payment to be executed. It is rarely used in Latvia.

That’s a specialized number consisting of a maximum of 25 characters. The reference number is assigned by the payment recipient and the recipient automatically gets notified in the accounting system that the invoice has been paid.

To make a domestic or international payment in other currency:

1. Choose the international payment form.
2. Select the currency available in the account as the coverage currency.
3. Currency exchange will take place automatically when you confirm the payment.

If the account lacks the currency necessary for the payment and/or no coverage currency is specified, then the payment will not be executed.

The reason could be incorrectly specified principal currency in the payment order.

It is currency in the account which is other than the principal currency of the account that will be applied towards covering the missing amount in case the account lacks funds for making the payment.

The coverage currency must be selected when preparing a payment order. Balance of funds in the account may remain there for an unlimited period of time.

Swedbank reserves payments to accounts on the same day and delivers them to the beneficiary bank or intermediary bank on the following business day. The payment execution time depends on the payment currency, type and the beneficiary bank or intermediary bank. See the price list for times and charges of these payments.

Execution of payment with the short account number depends on the country to which the payment is made and on the payment currency.

For payments outside the EEA or in other currency, use the international payment form and not the EUR form.

Every bank has its correspondent banks depending on the payment currency. Information about correspondent banks is available here.

If a notification that invalid characters have been entered appears, re-check all the payment fields.

The permitted characters are:

a b c d e f g h i j k l m n o p q r s t u v w x y z A B C D E F G H I J K L M N O P Q R S T U V W X Y Z 0 1 2 3 4 5 6 7 8 9 / - : ( ) . ,? ' +

Information about the payee’s bank and correspondent bank is not required when making EUR payments to EEA countries.

When making non-EEA payments, it is necessary to provide information about the payee’s bank (SWIFT code and name) and, preferably, also information about the correspondent bank of the payee’s bank. Detailed information is available to the payee.

AMK, or external payment code, is information required by the state about payments made from Latvia to foreign countries. A three-digit payment code must be assigned for such payments based on the classifier according to the international standards of the payment balance sheet. Payment codes are divided in 9 groups according to standard items in the payment balance.

In the payment history section, verify that the payment has been made and correct details have been specified for it.

• If details have been specified correctly, send the payment order copy to your counterparty showing that the payment has been made on your part.
• If incorrect payment details were specified but it was executed, check the payment details. Find out more here.
• If the payment cannot be found in the payment history, make sure that the account has sufficient funds, check what execution date is set for the payment and check if it’s not awaiting confirmation.
• If the payment has other status, execution of it has not been started because the account lacks sufficient funds for execution of the payment, covering the fee or the payment has been set up with a future execution date. Find out more here.

A payment is not executed if all mandatory fields marked with asterisk in the payment details are not filled out.

If the payment is returned by beneficiary bank or correspondent bank, then the reason for declining is specified in the detailed information about the payment.

Swedbank charges a separate fee for processing of the received international payment (in other currency or outside the EEA). If the payer has chosen the fee to be covered on shared basis, then the payer covers the fee for execution of payment, whereas the correspondent bank’s and beneficiary bank’s fee is covered by the recipient of money.

Yes, the payment will start in 15-20 minutes. If it does not happen, contact the bank by phone on 67 444 444.

If, after making a payment, you cannot find it in payment history or account statement, and also your account balance has not decreased, then most likely the payment has not happened.

Check the “Payment list” section and make sure that the payment has not been prepared with a future date (status - “Awaiting funds”).

This function is available under menu Payments, accounts -> Account statement. Other bank’s accounts will be available in “IBAN” field (drop-down list) among Swedbank accounts.

Important! If you want to see other bank’s account statement in our Internet Banking, you must onboard it first under Payments, accounts -> Add other bank’s account.

This new feature is available in the “New Payment” form under the services menu Payments, Cards, Accounts -> Payments -> New Payment. The other bank account will be available in the field “Pay from Account” (drop-down list) along with your Swedbank accounts. When you choose to make the payment from the other bank’s account, you will be transferred to a separate payment initiation form.

Important! In order to be able to initiate a payment from an account at another bank, you first need to onboard it on Swedbank Internet Banking.

It depends on the sending and beneficiary bank.

• If both banks have joined the instant payment system, the money transfer is processed as an instant payment.
• If an instant payment is not possible (e.g., instant payment limit exceeded or the payment limit at the sending bank exceeded, or due to technical issues), then the payment is processed as a domestic payment.
• If one of the banks involved has not joined the instant payment system, then the payment is processed as a domestic payment.
• If the sending and beneficiary accounts are both at the same bank, the payment will be processed as an intrabank payment.

If the company is registered in Latvia:

• The identity documents of the authorized signatory and all the beneficial owners of company
• If the company is not subject to registration with the Register of Enterprises of the Republic of Latvia, then please submit the articles of association/bylaws and documentary proof of registration and the registered office

If the company is not registered in the Republic of Latvia:

Originals or their copies that are legally valid in the Republic of Latvia:

• Documentary proof of registration and the registered office, such as registration certificate issued by the respective country’s business registration authority or a certified copy of it which may not be older than 31 day (in case the documentary proof of registration needs to be additionally certified or legalized – not older than 60 days)
• Articles of association/bylaws which lays down the procedure for how authorized signatories are granted powers
• Documentary evidence of the powers of the authorized signatories. If the powers of the authorized signatories are certified by an extract or true copy issued by the respective country’s business registration authority, then such an extract must be issued not earlier than 31 day before entry into the business relationship
• Documents certifying the customer’s shareholders and the beneficial owner

Documents may be submitted in Latvian, Russian, and English languages. Documents in other languages must have a notarized translation in Latvian, English or Russian attached.

Upon starting business relationship with the bank, only the account opening fee or the business bundle activation fee applies.

If the company is not registered in Latvia or if a Latvian-registered company has at least one authorized signatory who is a non-resident, then also the first-time document checking fee will be charged additionally.

Remotely:

• The founder of the company must have the Swedbank Private Internet Banking user account and the eID card with activated eParaksts feature:
• Fill out the application on the Internet Banking site
• The company formation agreement or resolution must be signed with the eSignature and e-mailed in EDOC format to uznemumi@swedbank.lv
• The account number will be sent in a bank message within one business day
• The equity capital can be deposited via Internet Banking

At branch: In this case, you’ll need to submit the following documents:

• Formation agreement/resolution
• Minutes/decision of the founder meeting on appointment/election of authorized representatives if the company to be founded is not represented by the founders stated in the formation agreement/resolution themselves
• Identity documents of the representatives of the company to be founded

Unless account opening requires an in-depth investigation, the process takes up to an hour. The bank may require additional documents in the course of evaluation. In such an event, account opening may take longer. The bank employee will let you know personally about the expected timeframe.

In order to book a time most convenient to you for account opening at a branch, we recommend applying beforehand via Internet Banking here.

In case of the first account, only applying is possible remotely. Agreement signing always takes place at the branch.

An additional account can be opened via Internet Banking by the company’s authorized signatory who has their right to represent the company singly indicated in the Register of Enterprises and who is a resident of the Republic of Latvia.

An account can be closed both at a branch and remotely.

At branch:
The authorized signatory must fill out the application for account closure.

Remotely:
The order to close the account and all the connected services may be submitted remotely by the company’s authorized signatory who is indicated in the Register of Enterprises of the Republic of Latvia and has the right to represent the company individually, by calling the Consultations Centre, sending a message via Internet Banking, making an electronic application in free form, or filling out the application for account closure signed with the eID card and e-mailed to uznemumi@swedbank.lv.
If the account balance is positive, the funds can be transferred to other account. To do so, send an application signed with the eID to uznemumi@swedbank.lv.
In all cases, the services agreements must be terminated and the account balance must be zero at the time of closing the account.

• The most convenient option is to do it via Business Internet Banking.
• By contacting the bank by phone on 67 444444.
• At your nearest branch.

Via Business Internet Banking:

• The application can be filled out by any Business Internet Banking user of the company.
• The application must then be confirmed and the Card Agreement must be signed within 7 days by a user who, according to the Register of Enterprises, is entitled to represent the company singly and is logged in to Internet Banking with the Smart-ID or eID.
• If the Card Agreement is not signed, the application is deleted and production of the card is not started.

By contacting the bank:

By a person who, according to the Register of Enterprises, is entitled to represent the company singly.

At branch:

The card can be ordered by the company’s authorized signatory (one or several) who is entitled to represent the company according to information at the disposal of the bank or according to the Register of Enterprises.

• The most convenient option is to do it via Business Internet Banking.
• At any Swedbank branch.

Via Business Internet Banking:

• The application can be filled out and confirmed by any Business Internet Banking user who, according to the Register of Enterprises, is entitled to represent the company singly.
• After receiving your application, a bank employee will contact you in 1 business days' time to arrange the next steps.

Branches

The card can be applied for by the company’s authorized signatory (one or several) who is entitled to represent the company according to information at the disposal of the bank or according to the Register of Enterprises.

The most convenient way is to do so in the Our company cards section of the Business Internet Banking site by clicking the “View/Change” button.

• Card delivery method can be changed by users with full-access rights in Business Internet Banking.
• Card delivery method can be changed no later than 40 days before the card's expiration date (shown on the card).

The most convenient way is to do so in the Our company cards section of the Business Internet Banking site by selecting the appropriate card. Card delivery method can be changed by users with full-access rights in Business Internet Banking.

Attention! Card delivery method can be changed no later than 2 months before the card's expiration date (shown on the card).

In the Our company cards section of the Business Internet Banking site:

• It is possible to activate debit cards received by post.
• If the Card Agreement is already signed, the card may be activated by a user with full-access rights.
• If the Card Agreement is not signed at the moment of ordering the card, the card can be activated only together with signing the agreement.
• The Card Agreement may be signed by a person who, according to the Register of Enterprises, is entitled to represent the company singly and is logged in to Business Internet Banking with the Smart-ID or eID.
• Before activation, please make sure that the cardholder and company details shown on the card are correct.

Attention! The card must be activated within 30 days of it being delivered by post. Cards not activated on time will be irreversibly closed due to security reasons.

The following limits and user rights apply for all cards:

• On cash deposits and withdrawals.
• On card purchases.
• On paying bills in cash machines (only for debit cards).
• On viewing account transactions and past payments.

When a card is produced, it has the default limits but after the debit card is issued, also personalized limits may be set up. We encourage doing so via Business Internet Banking.

Default limits for the Debit card are avaliable here, but for Credit cards - here.

At the moment of settlement, exchange to the necessary currency takes place automatically. The account must have sufficient balance in the card's principal currency.

Settlements in foreign currencies are subject to currency exchange mark-up for the debit card and credit cards according to the Price List.

• Purchases with the Business Credit Card have an interest free period of up to 30 days for using the credit limit - from the time of purchase until the 1st date of the following month.
• Purchases with the Business Gold Credit Card have an interest free period of up to 40 days for using the credit limit - from the time of purchase until the 10st date of the following month.
• During the interest-free period, the purchase amount is reserved and no interest accrues on the reserved amount for drawing on the credit limit.
• In isolated cases, for purchases made during last days of the month and about which information has been received at the bank belatedly, the interest-free period and the amount reservation time be automatically extended to the 1st or 10th date (depending on the credit card type) of the month following the next month.

Attention! The interest-free period is not in force for transfers and cash withdrawals from the credit card account and interest starts to accrue on the outstanding credit limit immediately after the transaction.

• All used credit limit (for purchases, transfers and cash transactions) is automatically transferred from the credit card account until the 1st date (for Business Credit Card) or until the 10st date (for Business Gold Credit Card).
• If the current account does not have enough funds for automatic repayment of the amount of the credit limit, partial repayment does not take place and the interest calculation also begins for the purchases for which the interest-free period has ended.
• The Company may at any time repay the used credit limit itself, including the necessary funds on the credit card account, thereby terminating the interest calculation.

Attention!

• The credit limit used for purchases is always reserved until the end of the interest-free period, regardless of the company's funds in the credit limit account.
• On the 1st or 10th date of each month (depending on the type of credit card), at the same time as the automatic repayment of the used credit limit, the card-linked current account is also charged:

- Monthly fee for using a credit card

- Interest on credit limit usage

There are no restrictions on use of cards on the part of the bank.

The most frequent reasons for refusing a purchase could be:

• Internet shopping feature may be not enabled for the card.
• The account lacks sufficient funds.
• Card's purchase transaction limit is exceeded.
• The card has expired (see the expiry date on front of the card).
• Software settings of the device used, or web browser settings are not compatible with the retailer’s solution.
• The device’s cache memory has not been cleared.
• The retailer has set restrictions for transactions (e.g. cards of a specific type or cards issued in a specific country are not accepted). For detailed information, see the merchant’s website.

• В интернет-банке для предприятий – пользователь с полным режимом интернет-банка пользователь, который уполномочен единолично представлять предприятие согласно Регистру предприятий.
• В мобильном приложении Swedbank для предприятий (только для Android) – лицо, уполномоченное единолично представлять предприятие согласно данным Регистра предприятий или сам пользователь карты.
• По телефону 67 444 444 – лицо, уполномоченное единолично представлять предприятие или сам пользователь карты.
• В филиале – лицо (одно или несколько) с правом подписи, которое по имеющейся в распоряжении банка информации или согласно Регистру предприятий уполномочено представлять предприятие, или сам пользователь карты.

If a card is stolen, it must be closed immediately:

• On the Business Internet Banking site by sending a message to the bank.
• By contacting the bank by phone on 67 444444.
• If it’s not possible to get in touch with the bank, then the card can be suspended by calling the card 24h international assistance line: Mastercard on +0800-96-4767, Visa on +8000-02288.

The operation of a blocked card can be restored:

• If the card has been blocked on the Business Internet Banking site, its operation can be restored within 10 days by a user having the full rights in the section “Company’s cards” selecting the appropriate card.
• If the card has been blocked at a branch, its operation can be restored within 70 days by visiting a bank’s branch and producing the passport or ID card and also taking the blocked card with you.

Attention! If the suspended card is not re-activated within this timespan, it will automatically be closed.

Access to Internet Banking can be enable or disable only in the user management section if you’re the company’s official with single-person signatory powers, the full Internet Banking administration mode, and have logged in to Internet Banking with the Smart-ID or the eID; for more information, see here.

You can't see information about your Internet Banking mode if you don’t have access to user right management.

User administration rights are available in the following levels:

• Read-only – the user can access information about the company’s Internet Banking limits, modes and users.
• Preparation – the user can access information about the company’s Internet Banking limits, modes and users, plus prepare changes in them.
• Contract-conclusion – in addition to the possibilities in the preparation mode, the user can make and confirm changes in Internet Banking limits, modes and users.

User management rights are granted to the user in respect of all of the company’s existing and future accounts with the bank.

Amendments can be made without visiting branch by users who have the relevant rights granted in the branch or who have the single-person signatory powers. If the user matches these criteria, the amendments can be made here.

If your company has a person with single-person signatory powers registered in the Register of Enterprises who has the full-access Internet Banking mode enabled, then the user management feature will be available automatically in Internet Banking.

If you wish to enable the user management feature for other person, then the authorized signatory must visit a branch.

If your company has several authorized signatories registered in the Register of Enterprises, then the user management feature can only be enabled at a branch.

It can be enabled for one or several authorized signatories, as well as other employees. All the authorized signatories, or their authorized representatives, must visit a Swedbank branch.

In such an event, the user does not have the right to sign agreements.

For a summary of operations you can carry out with different Internet Banking user modes, see here.

• in the user management section
• by phone on 67 444 444
• at any branch

The POS reports are available here by selecting a specific period.

Learn more about the report types and options here.

Make sure that the day closure report has been sent from your POS terminal on the day for which the report is missing – has the money been received in the account and the report slip has been printed from the POS.

If the day closure report has been sent but the POS reports are missing on the Internet Banking site, please contact the bank.

If the day closure report has not been sent, then send the report manually, following the instructions provided in the user manual of the respective POS model (see the links provided here).

Send us a message via Internet Banking, make an application at any branch, or request by phone on 67 444 444. The fee for repeated preparation of the report is charged as per price list. Learn more here.

Step 1

Send the bank a message via Internet Banking or file an application at any Swedbank branch for the POS terminal agreement closure, specifying also which company the POS terminal will be switched to.

If you use the mPOS, then the mPOS must be uninstalled from the smart device before terminating the agreement!

Step 2

Open a new POS agreement for another company. The company that will be the new POS terminal user needs to apply for the POS terminal in any Swedbank branch or via Internet Banking (here). In the field “What else should we know?“ on the Internet Banking site, please specify the company name and registration number of the existing POS terminal holder.

Step 3

After signing the new agreement, you will be contacted by the supplier of the terminal who will also help perform the necessary actions for switching the POS terminal if the POS is rented from the bank.

If the POS is not rented from the bank, you need to contact the POS terminal supplier.

If you’ll use the mPOS, make sure that the previous owner has uninstalled it from their smart device. Before starting to use the mPOS, it will need to be installed; find the instruction here.

If the mistake has been noticed on the day of the transaction, it can be corrected or cancelled.

If the terminal is rented from Swedbank, please follow the instruction provided together with the terminal at the retail outlet to correct the mistake. The instruction is also available on the Swedbank website:

Instructions for stationary terminals:

Instructions for portable terminals:

mPOS user instructions

Send a message to the bank via Internet Banking or lodge an application at any branch and submit together with copies of transaction receipts for which the money is missing.

If you have the mPOS, use the transaction receipts received in e-mail. The information may be sent as an attachment by e-mail to poshelp@swedbank.lv (the e-mail address from which you send information must be registered in your company’s Internet Banking user account).

Please send a description of the situation, cash register receipt and POS transaction receipt copies to the bank – by writing a message via Internet Banking, by submitting an application at any branch or by e-mail to poshelp@swedbank.lv (the e-mail address from which you send information must be registered in your company’s Internet Banking user account).

The fee for the service is charged as per price list.

Please note that the possibility to recover the missing amount depends on the cardholder If the cardholder does not agree to cover the difference in amounts or if it cannot be done, the fee will not be refunded.

Contac the mPOS technical support Hansab SIA by phone on +371 67 357 057 to arrange the time for manual uninstallation of the mPOS from the damaged smart device.

The new device must be connected to mPOS like it was done before; the instruction is available here.

The use of cash registers is determined by the Cabinet Regulations and your form of business, and not the existence of POS terminal. Advice on application of the regulations can be provided by the State Revenue Service (VID).

You can have the following quick notifications:

• On incoming/outgoing transactions
• On account balance
• On payments
• On account balance (upon request)

The quick notifications can also be used for topping up Zelta Zivtiņa, Amigo, LMT Karte, Bite pre-paid mobile phones.

1. Log in to your Internet Banking.
2. In the “Quick notifications” section on the Internet Banking site, click the link “Change the quick notification delivery time”.
3. Change the delivery times

To disable delivery of quick notifications:

• Log in to your Internet Banking.
• Disable the specific notifications by clicking on “X” in the “Quick notifications” section on the Internet Banking site.

When setting up e-invoice automated payment, you can choose the payment day to be:

• The due date (the payment deadline specified by the service provider in the e-invoice).
• Two days after receiving the e-invoice. That way the e-invoice will be paid in timely manner without waiting for the deadline.
• Two days before the due date. If the payee’s account is with other bank, you can be sure that the amount will be transferred to the payee until the due date and the payment will not be overdue.

You can modify the terms of payment by selecting the respective e-invoice automated payment agreement.

At the time of setting up the agreement, you can specify a monthly limit of your choice which may not be exceeded in the automated payment of e-invoices. If the amount of the invoice exceeds the set limit, the payment of the invoice depends on whether you’ve permitted partial payment. If partial payment is permitted, then an amount which is equivalent to at least half of the invoice amount and does not exceed the set limit will be transferred to the payee. If partial payment is not permitted or if it's possible to transfer only an amount which is less than half of the full invoice amount, then no payment will be made. Please verify that the monthly limit is high enough and that there are enough funds in your account for paying invoices as they fall due.

The payment arrangements may differ from case to case, therefore, when setting the monthly limit, allow for the fact that more than one invoice may be sent in within a month and that the cost of service may be subject to change (for example, the first month’s invoice may include down payment). In such an event, the amount debited from your account will be larger than usual.

• If the customer pays using BankLink (internet banking), the money will come through within a couple of seconds.
• If the customer pays by card, entering their card details, you will receive the money the next day.

The authorization may be requested:

• by filling out the application form via Internet Banking here;
• by sending a message to the bank via Internet Banking;
• by filling out an application in the branch.

The fee for authorization to exit Latvia will be charged according to the price list.

The final invoice may be requested in own name:

• by sending a message to the bank via Internet Banking;
• by filling out an application at a branch.

The final invoice in other person’s name may be requested by filling out an application at a branch.

To notify of early repayment in part or in full:

• send a message to the bank via Internet Banking;
• fill out an application at a branch.

The fee for partial/full early discharge of obligations is charged according to the price list.

During the whole leasing agreement, you will receive monthly e-invoices to your Internet banking site.

Please consider that the e-invoice is not automatically linked to the payments you create yourself.

If you create the leasing payment yourself (not using the e-invoice functionality), cancel the automatic payment for the received e-invoice and archive it.

For your convenience, we recommend using the options offered for e-invoices: to activate automatic payment.

Most likely, you have automatic payment of e-invoices enabled.

If you create the leasing payment yourself (not using the e-invoice functionality), cancel the automatic payment for the received e-invoice and archive it.

During the whole leasing agreement, you will receive monthly e-invoices to your Internet banking site. Please consider that the e-invoice is not automatically linked to the payments you create yourself.

For your convenience, we recommend using the options offered for e-invoices: to activate automatic payment.