Compare Rietumu Banka euro currency transfer options to/from Latvia. You can beat Rietumu Banka euro exchange rates when making an international money transfer or overseas payment, save time, money and get the best deal.
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About transaction fees: The transaction (or service) fee that banks and providers charge is made up of a fixed fee which varies, depending on where you are sending the money and which currencies apply to the transaction.
About money transfer providers: Unlike banks, money transfer companies offer the very best exchange rates and by keeping their margin rates low, they beat the banks by several percentage points.
About exchange rates: Money transfer exchange rates are calculated and updated weekdays, hourly 08:00 – 16:00. The exchange rates provided are indicative only and several factors may contribute to the final rate, including market conditions, transfer amount and the mode of transfer (online or via phone/email).
International currency transfers to or from your Rietumu Banka account in the euro, UK pounds, US dollars and many other popular currencies will involve a margin or exchange rate of around 3.0% and additional bank transaction or commission fees may apply.
Rietumu Banka international currency transfer rates are much higher than most money transfer providers (money transfer providers rates range between 0.45 to 1.0%).
Sending foreign currency to or from your Rietumu Banka account in Latvia needn’t be a complex matter, moreover, you can save time and money when you use a specialist currency broker instead.
Specialist foreign exchange companies including our recommended providers here can save you money and time on the transaction. Our recommendations are based on international coverage and office locations together with the lowest foreign exchange margin rates offered.
Example: A typical overseas currency transfer of 100,000 euro (EUR) using Rietumu Banka services would have a transaction exchange rate margin of around 3.0% – or 3,000 EUR. Using a specialist broker, in this example TorFX – the exchange rate margin would work out at 0.7% – or only 700 EUR in total, which is a large saving over the bank service.
International money transfers from Rietumu Banka could take longer to arrive than using a private currency exchange provider and you will also need to be an existing Rietumu Banka account holder to use their services. Rietumu Banka may additionally charge a flat rate commission fee when sending money abroad into another currency and bank transfer commission fees vary depending on the amount you need to transfer. Private brokers offer commission free currency transfers, typically over a value of £5000 (or 5,000 EUR).
Unless you pay a premium, Rietumu Banka’s service will take from 5 to 7 days for your funds to arrive at the destination bank. Private foreign exchange companies typically complete the transaction either same day, or next day.
Rietumu Banka was created in 1992 and is a Latvian bank which provides banking services for customers in Latvia and the Baltic States and other regions.
Find Rietumu Banka branch addresses near you with our geolocation map search. Simply enter the bank name (and optionally a city or country) and the map will display the closest Rietumu branches in your search area results.
You can find answers to everyday banking questions at Rietumu online. If you can’t find the answer you’re looking for, you can call them from outside Latvia on +371 6702 55 55
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Doing some research and evaluating options will ultimately save you time and money: Compare money transfer providers