Basic account
A basic account is a current account with only basic functions. Any resident of the European Union* can open and use such an account, if he/she has no other account in any of the Latvian banks.
The basic account includes:
- opening and maintenance of a current account.
- issuance and maintenance of a current card.
- connecting and maintenance of the internet bank.
- making and receiving payments in the internet bank (SEPA payments in the EEA countries).
- withdrawing cash from ATMs (within the established cash withdrawal limit).
- making regular payments.
The basic account restrictions
- Incoming and outgoing payments are subject to a standard daily and monthly limit of EUR 3,000
- The basic account does not include credit and leasing services, as well as investment and insurance products in SEB's internet bank and mobile app
The bank will refuse or terminate basic account services in cases specified in the Law on Payment Services and Electronic Money.
How to open a basic account?
To open a current account with basic functions with SEB:
- visit any of SEB customer service points, previously booking an appointment on our homepage;
- bring with you an ID;
- you will be needed to confirm that you do not have a payment or current account with any other credit institution in Latvia.
If necessary, the bank may also request other information necessary for the evaluation of the cooperation/opening of the account.
The application for opening a basic account will be processed within 10 working days. The decision to start co-operation and open an account is made individually for each client in accordance with the laws and regulations of the Republic of Latvia.
*In accordance with European Parliament and the Council’s Directive 2014/92/EU of 23 July 2014, on the comparability of fees related to payment accounts, payment account switching and access to payment accounts with basic features and the Law on Payment Services and Electronic Money of the Republic of Latvia.
