Current Account
Basic service for companies that begin transactions through the bank
- For non-cash payments of any kind
- Multi-currency account options
- Control over the company's cash flows
A current account is used to receive money transfers, for safekeeping thereof as well as to make various payments via Internet banking and engage in cash transactions.
New business account can be opened via internet bank or in any SEB banka branch.
If you have a current account you can:
- add additional currencies and make payments in over 20 currencies from a single account, benefiting from the advantages offered by the multi-currency account;
- open several additional current accounts to segregate the funds for different purposes or projects;
- make payments easily using the universal payment form via internet bank;
- tie payment cards to your current account;
- withdraw and deposit cash from/to the account via depositing/withdrawal ATMs;
- pay you invoices easily, by using standing order payments, as well as receive e-invoices and make the automatic payment thereof via Internet bank;
- get detailed information on the transactions on the account via internet banking;
- get information on the available cash balance in the account via internet bank or using SMS banking;
- control the company’s cash flows and engage in transactions via internet bank for companies or Telebanka.
nformation about transactions in your account
You can get statements of all of the transactions carried out in the company’s account most conveniently is via Internet banking or Telebanka.
Information on transactions in the current account is available in the form of an account statement and a regular extract from an account.
- An account statement gives an overview of incoming and outgoing payments, transactions with cards and in cash for any freely selected period. You can also use the search functionality – select transactions by the recipient, amount, bank etc. Account statements can be imported into the accounting software as well as saved to other formats.
- A regular extract from an account is an overview prepared and numbered by the bank of incoming and outgoing payments, a statement of transactions with cards and in cash, prepared for a certain period. To receive extracts from an account, you would need to enter into an agreement for the preparation of extracts from an account via Internet banking or at any branch of SEB banka.
Account statements and extracts from an account via Internet banking and Telebanka are prepared electronically and are valid without signature.
You can receive information about transactions in the account at any branch of SEB banka.
Documents required for opening a current account – for a company established in Latvia
To open a current account for a resident legal entity, the following documents are required:
- identity documents of the representative – passport or ID card;
- statutes, if the latest version is not available in the Lursoft database;
- registration number of the company.
SEB may request additional documents if necessary (account statement, documents proving the origin of the money, etc.).
Documents required for opening a current account – for a company established abroad
To open a current account for a non-resident legal entity, the following documents are required:
- notarized proof of incorporation – Certificate of Incorporation, Certificate of registration, etc., not older than 3 (three) months;
- notarized Articles of Association, Memorandum of the Company or equivalent documents not older than 3 (three) months;
- a proof of identity of the signatory rights holder (authorized representative) - a document valid for travelling into the Republic of Latvia (a passport or ID card);
- power of Attorney not older than 3 (three) months, in which the notary certifies signatures and the rights of representation if they are not shown in documents available at the state registers or relevant administrative bodies, or General Power of Attorney;
- confirmed copy of Financial Institution License must be submitted, if client is financial agent or financial institution.
SEB may request additional documents if necessary (account statement, documents proving the origin of the money, information about the group’s structure, true beneficiaries etc.).
The original documents or their notarial approvals must be submitted. All documents require a translation into the Latvian, English or Russian language with a notarial certification.
One of the most important conditions to open the current account in SEB Latvia is that the customer (company) must have connection with Latvia.
Only a limited range of services is available for non-residents.
Please view the pricelist for legal entities.
Opening an additional current account
If you have the internet bank’s administrator rights, you can open an additional current account in the section of internet bank for business: Accounts/Cards → Current accounts → Open account.
If you do not have administrator rights, you can open an additional account at any branch of SEB or during a video meeting.
Deposit Guarantee Law of the Republic of Latvia stipulates guaranteed compensation to the amount of the deposit (but not exceeding 100,000 EUR) per depositor, if the deposit is not available. Additional compensation up to 200,000 EUR is possible for the following deposits of the private person within the period of three months from the date when the initial deposit was made:
- Income from transactions from the real estate owned by the person and intended for residence;
- Social benefits, compensations and deposits intended for other social purposes as determined by the regulatory enactments paid to the person;
- Compensation for criminal damage or wrongful conviction of the person according to the procedure stipulated by the regulatory enactments.
If the depositor has several guaranteed deposits, they are added up and considered as one guaranteed deposit.
The guaranteed compensation is paid only to those depositors whose claim has been recognised by the liquidator or administrator. Unavailability of deposit occurs upon judgement of the court regarding insolvency of the credit institution and initiation of bankruptcy proceedings. The guaranteed compensation is not paid for certain statutory customer deposits, such as deposits of financial institutions, persons associated with the credit institution, their relatives, etc.
Basic information about state guaranteed deposit protection
Deposit Guarantee Law
| Services | Fees |
|---|---|
| Opening:1 | |
| • for residents (the first account) | 15.00 EUR/free of charge2 |
| • to non-residents (per each account) | 35.00 EUR |
| • in SEB Group outside Latvia3 | By agreement, min 50.00 EUR |
| First verification of documents: | |
| • for residents whose holders, true beneficiaries or signatory persons have their identity document or residence permit issued in Latvia | Free of charge |
|
• for residents – legal entities registered in Latvia, whose owners, beneficial owners or signatory persons have not received an identity document or residence permit in Latvia; • for non-residents – legal entities which are no registered in Latvia |
By agreement, min 500.00 EUR |
| Servicing per month: | |
| • for residents4 | 5.00 EUR/free of charge5 |
| • for non-residents legal entities (taxpayers) established in the EEA and outside the EEA | 30.00 EUR |
| • for Payment and Electronic money institutions | 300.00 EUR |
| Closing (including transfer of the account balance to another account at SEB bank) | Free of charge |
| Customer's funds administrating monthly fee for Customer with whom SEB bank is terminated cooperation6 | 50.00 EUR per month |
| Current account balance fee (hereinafter – ABF)7 | |
|
ABF for Legal entities (EUR) (Fee, applicable to total current account balances in EUR exceeding 1 000 000 EUR) |
ECB deposit facility rate/360 (Days) |
|
ABF for Legal entities (SEK) (Fee, applicable to total current account balances in SEK exceeding 9 500 000 SEK) |
Sveriges Riksbank repo rate/360 (Days) |
|
ABF for Legal entities (DKK) (Fee, applicable to total current account balances in DKK exceeding 7 500 000 DKK) |
Danmarks Nationalbank Certificates of deposit rate/360 (Days) |
|
ABF for Legal entities (CHF) (Fee, applicable to total current account balances in CHF exceeding 1 000 000 CHF) |
Swiss National Bank negative interest rate/360 (Days) |
1 Minimum opening deposit is 20.00 EUR or its equivalent in another currency.
2 Applying for the Entrepreneur's plan (S, M, L, XL) opening of the Current account (unlimited number) – free of charge. In addition, no minimum deposit is required to open current accounts.
3 Acceptance, processing, verification, sending etc. of documents upon the customer's request.
4 Except Payment and Electronic money institutions.
5 Using the Entrepreneur’s plan (S, M, L, XL) servicing of the Current accounts – free of charge.
6 The commission fee is applied if Customer until date mentioned in SEB bank to Customer sent notification not fulfilled SEB bank requirements about account (incl. securities account) balance transferring. Fee is charged each month from funds that are not transferred after SEB bank request to Customer account opened in another credit institution.
7 ABF is calculated at the end of each calendar day, for excess amount of specified threshold for respective currency. ABF would not be applicable should respective central bank’s deposit rate become equal or exceed zero. ABF is debited once a month, and is applied only in cases where Bank individually informs Client 14 calendar days in advance. ABF is paid by Client. Bank does not calculate and pay interest on account balances to Client.
ABF = Excess amount of specified threshold*ECB deposit facility rate in absolute value/360
If Current Account end of day balance is 1 100 000 EUR and ECB rate is -0.4%, then ABF for the respective day is 1 100 000 – 1 000 000 = 100 000 * 0.4% /360 = 1.11 EUR
| In force from | In force to | |
|---|---|---|
| Terms and conditions of the current account agreement |
15.08.2017
|
In force
|