Rietumu Bank products, services and reviews

About Rietumu Bank

Rietumu Bank is a Latvian commercial bank headquartered in Riga, operating under an EU banking license and supervised by Latvijas Banka; eligible retail and corporate deposits are covered by Latvia’s statutory deposit guarantee scheme up to €100,000 per depositor. The bank focuses on corporate and affluent private clients, offering multi‑currency current and savings accounts, term deposits, domestic and international payments (SEPA and SWIFT), foreign exchange, payment cards, and lending products including corporate loans and leasing; it also provides custody and investment services for clients that meet its suitability and documentation requirements. Accounts are issued with Latvian IBANs (LV) and the bank’s SWIFT/BIC is RTMBLV2X. Digital access is available via online and mobile banking with multi‑factor authentication; corporate users can obtain statements and initiate bulk payments through file exchange or API connectivity. Client acceptance is selective: onboarding typically prioritizes EU/EEA residents and EU‑based businesses, while non‑resident and higher‑risk profiles are restricted and subject to enhanced due diligence, detailed source‑of‑funds checks, and verification of beneficial ownership; in some cases remote identification is possible, otherwise an in‑person visit may be required. Tariffs are published and include account maintenance fees, payment charges, and FX margins; minimum balance or service fees can apply to corporate relationships. Following Latvia’s sector‑wide AML reforms, the bank has maintained a reduced risk appetite and applies EU sanctions screening. The branch network is limited, with most services delivered through digital channels and relationship managers.