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Opening an account in Magnetiq Bank (Latvia)
- Price:800 eur
- Term:10-20 days
Magnetiq Bank (until April 2024 - LPB Bank) Latvia is an innovative Latvian bank, previously known as Latvijas Pasta Banka (Latvia).
Founded in 2008, the bank is aimed at progressive corporate clients, Fintech services, IT solutions and technologies, servicing startups. A full range of banking services is provided for starting a business from scratch.
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Since 2024, it has been managed by the Latvian holding company Signet Bank. The main office of the company is located in Riga.
- works with Visa, Mastercard, Apple Pay;
- multilingual staff, speaks Russian;
- multicurrency accounts and processing;
- instant payments available;
- the possibility of opening a merchant account;
- virtual IBAN numbers;
- services for E-commerce businesses and startups.
The bank serves corporate clients who have business connections in the EU and a real presence in the country of registration (at least an office). Accounts for individuals are opened only if there is an account for the company (possibly for the director and shareholder of the company). New companies registered in tax-exempt jurisdictions are not considered.
Current and processing accounts.
According to the procedure for opening an account with Magnetiq Bank, a personal visit to a bank branch is not required, but an banker must be present when signing bank forms (such a meeting can be arranged in Kyiv).
Please note that according to international account opening standards, each bank is required to adhere to the KYC procedure, so the bank will require documents and data confirming identity, business and wealth for identification. Also, a financial institution may, based on its internal rules, refuse to cooperate without giving reasons.
In order to avoid such negative consequences, please contact specialized lawyers for preliminary advice on opening foreign accounts, and we will tell you all the nuances of how to open an account with a Latvian bank - Magnetiq Bank (Latvia Pasta Bank).