LPB Bank provides private individuals that are EU residents, and individuals that have the right to reside in Latvia in accordance with applicable RL legislation (including persons without residence permits who may not be deported from Latvia in accordance with the applicable legislation of the Republic of Latvia) to open and use a basic payment account – the basic account.
Denominated in euros, the basic account provides enables the following services:
- Opening, maintenance and closure of a current account;
- Remittance of funds to the account;
- Cash withdrawals from the account at the Client Service Centre during the Bank’s working hours;
- Internet Banking connection and management;
- Incoming and outgoing payments via Internet Banking (SEPA payments to EEA member-states);
- Connection of SMS notifications.
No other services have to be connected as a prerequisite for opening or accessing a basic account.
A client wishing to open a basic account and receive other available services should submit a signed application to the LPB Bank Client Service Centre (representing that the client has no open payment account or basic account with another bank that provides its payment services in Latvia) and other documents required under the General Terms of Service of the Bank.
The Bank will consider a basic account application and attached documents within 10 business days. Opening of a basic account may be denied, and the Bank is entitled to terminate the Agreement of receiving the Bank’s services in the cases specified in the Payment Services and Electronic Money Law.