Settlements can be performed both visiting Baltikums Bank and using remote management systems:

• Internet Bank – all operations are performed according to international security standards using the electronic signature calculator Digipass;
• Telephone Bank;
• Fax.

Baltikums Bank offers SWIFT transfers using correspondent banks of the Head Office and Baltikums Bank AS Cyprus Branch:

• Among Baltikums Bank customers in any currency:
  • Among customers of the Head Office;
  • Among customers of Baltikums Bank AS Cyprus Branch;
  • Among customers of the Head Office and Baltikums Bank AS Cyprus Branch;
• Money transfers to other banks in various currencies.

Multiple options of money transfers:

• Transfers in any currency to any country worldwide;
• The expanded correspondent bank network of Baltikums Bank allows ensuring minimal settlement terms at most advantageous fees and routes;
• Baltikums Bank is a member of the European settlements system TARGET and of the international payment system SWIFT;
• Prompt crediting of incoming funds – day-on-day;
• Non-cash settlements;
• Submitting payment orders orally over the phone or in writing – at the Bank or via a remote settlement system (Internet Bank, Fax settlement system, or Telephone Bank);
• Transfers of a current day in various currencies;
• Reliable money transfers within the internal banking system, within the Clearing System of the Bank of Latvia, and in SWIFT (Society for Worldwide Interbank Financial Telecommunications);
• Searching, cancelling, and supplementing payments;
• Receiving transaction certification documents from the Bank;
• Simultaneous currency exchange;
• Baltikums Bank opens and services correspondent accounts in various currencies.

Transfer types by execution terms

Standard:            

• Transfer execution term:
• LVL - D (until 12.00), D+1;
• USD - D+1;
• EUR - D+1;
  • Other hard currencies - D+2.

Urgent:

• Transfer execution term:
  • LVL - D (12.00-15.00);
  • USD - D (9.30-15.00);
  • EUR - D+1;
  • Other hard currencies - D+1;
  • RUR, EEK, LTL - D+1.

Express:

• Transfer execution term:
  • USD - D (9.30-17.00) executed within 2 hours;
  • EUR - D (9.30-15.00);
  • RUR, EEK, LTL – D (9.30-12.00).

Fees for transfers

Baltikums Bank applies a system of deducting fees for executing international money transfers according to international standards. This system of deducting fees allows the customer choose a most suitable way of paying the fee in each specific situation. The Bank specialists will give you all necessary advice.

As of 1 June 2010, execution of payments performed within the member-states of the European Economic Area (EEA)* in EUR and in other currencies of these member-states will be performed at Baltikums Bank in accordance with requirements of the European Parliament and Council Directive 2007/64/EC and the Law on Payment Services:

Only one commission type applies to such payments – SHA:

• The payer pays the commission of their bank, and the beneficiary – the commission of their bank, if any;
• Mediating banks do not deduct a commission and the beneficiary receives the entire payment amount:
  • In this case, the commission from the transferred amount is not deducted any more;
• Payments cannot be executed if another commission type is stated.

Payments beyond the European Economic Area in euro and other currencies of the member-states are executed with the commission types OUR, SHA, BEN. Introduction of requirements of this Directive would raise efficiency and quality of payment execution across the European Economic Area on unified terms.

* Member-states of the European Economic Area: Iceland, Liechtenstein, Norway, and the EU 27 member-states: Austria, Belgium, Bulgaria, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Great Britain, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherland, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden.

** Currencies of the European Economic Area: EUR, GBP, DKK, NOK, SEK, PLN, CZK, LTL, EEK, LVL, CHF.

According to international standards, three options of transfer fees are offered to customers of Baltikums Bank:

• OUR – the fee is paid by the SENDER;
• SHA – the fee is SHARED: a part is paid by the sender, a part – by the beneficiary;
• BEN – the fee is paid by the BENEFICIARY.

To perform transfers it is necessary to:

• Open a Current Account with  Baltikums Bank;
• Submit to the Bank a correctly completed payment order signed by the person stated in the Signature and Seal Imprint Sample Card of a legal entity/Signature and Seal Imprint Sample Card of an individual or in the Statement on Beneficiary Owners (beneficiaries);
• Ensure a sufficient amount of funds on the Current Account for executing the payment and paying the banking fees.

Baltikums Bank is entitled to demand confirming documents from the customer for executing a payment (agreements, invoices, etc.), and retains the right not to execute a payment if respective confirming documents are not provided. 

For more information please contact private bankers.
Bank Customer Information Landline phone: +371 67 031 333, e-mail: This e-mail address is being protected from spambots. You need JavaScript enabled to view it
Corporate Banking phone: +371 67 031 405, e-mail: This e-mail address is being protected from spambots. You need JavaScript enabled to view it
Private Banking phone: +371 67 031 409, e-mail: This e-mail address is being protected from spambots. You need JavaScript enabled to view it
Trust Banking phone: +371 67 031 444, e-mail: This e-mail address is being protected from spambots. You need JavaScript enabled to view it