The document contains a number of amendments and significant supplements which pertain to the Bank Clients – legal entities.
Contents:
Requirements for keeping the Minimum Balance for legal entities
– For new clients of the Bank
– For existing clients
Change of the tariff for opening an account
Change of the low-activity tariff application procedure
1. Requirements for keeping the Minimum Balance for legal entities
In the revised version of the Regulations, a requirement for keeping the Minimum Balance (Relationship Balance) is introduced – this is the minimum amount of funds to be kept on accounts of the Client (legal entity) in any circumstances.
The amount of the Minimum Balance (Relationship Balance) will be provided in the Tariffs further on.
Starting from 1 June 2015, the Relationship Balance for companies from the EU, CIS, OECD, China (incl. Hong Kong), Andorra, Georgia, Lichtenstein, Macedonia, Isle of Man, Serbia, Singapore and Montenegro is established in the amount of EUR 5 000 (or the equivalent in another currency).
The Relationship Balance for companies from other countries and jurisdictions will be EUR 10 000 (or the equivalent in another currency).
The Relationship Balance provisions are not applied to groups of clients who:
– Have placed subordinated loans in the Bank
– 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.
1.2. For existing clients 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.
A commission fee is charged for non-observation of the requirements for keeping the Relationship Balance. Such commission will also be provided in the Tariffs.
Starting from 1 June 2015, EUR 2 per day (or the equivalent in another currency) will be deducted for non-observation of the Relationship Balance requirements from companies from the EU, CIS, OECD, China (incl. Hong Kong), Andorra, Georgia, Lichtenstein, Macedonia, Isle of Man, Serbia, Singapore and Montenegro.
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.
Further on the commission for servicing such accounts (EUR 50 monthly) will not be charged from New Clients during the first six months following opening their accounts in the Bank.
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. Eleonora Gailisha Mass Media and Public Relations
Phone: +371-67020506
Fax: +371-67020563
E-mail:
[email protected]
