On the Revised Version of the Regulations of the JSC Rietumu Banka and Client Agreement and on Changes in Tariffs
02-Apr-2015, 13:00 / Rates & Fees The Board of Rietumu Bank has approved revised version of the Regulations of the JSC Rietumu Banka and Client Agreement which takes effect on 1 June 2015.
The document contains a number of amendments and significant supplements which pertain to the Bank Clients – legal entities.
Requirements for keeping the Minimum Balance for legal entities
– Are holders of preference stocks of the Bank
– Use credit products of the Bank (except for card overdrafts)
1.1. For new clients of the Bank
Following the opening of an account for a new Client of the Bank and crediting funds to it, the compulsory Minimum Balance will be remitted to the special saving account, where it will stay untouched for the first six months.
Upon the expiry of six months, the amount of the Minimum Balance will be remitted from the Saving Account back to the Current Account of the Client where the Client can make free use of it. With regard to this Client, the general terms of observing the Relationship Balance will be effective.
For existing clients, milder requirements for keeping the Relationship Balance will be determined. Funds in the established amount must be available on any account and, when required, they can be used by the client.
The client will be informed via Internet bank about non-observation of the requirements for keeping the Relationship Balance at the time the Client makes a payment. However, the transaction will not be prohibited.
In the event of non-observation of the Relationship Balance requirements, the commission from companies from other countries and jurisdictions shall be EUR 4 per day (or the equivalent in another currency).
2. Change of the tariff for opening an account
Starting from 1 June 2015, the commission for opening a new account for companies from the EU, CIS, OECD, China (incl. Hong Kong), Andorra, Georgia, Lichtenstein, Macedonia, Isle of Man, Serbia, Singapore and Montenegro will remain unchanged – EUR 150. For companies from other countries and jurisdictions, the commission for opening a new account will be EUR 450.
3. Change of the low-activity tariff application procedure
Please also note that changes have been introduced in servicing the so-called low-activity accounts – accounts of such Clients, where the average monthly balance on all accounts in the Bank during the last three months is below EUR 50 000 and where the average monthly number of outgoing external payments (SWIFT, SEPA, TARGET) is less than three.
The revised version of the JSC Rietumu Banka and Client Agreement , the Regulations of the JSC Rietumu Banka and Client Agreement and the new Tariffs can be found on the website of the Bank.
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