Latvia
Profile
ING Payments and Cash Management provides a full range of services and a single point of contact for 27 European countries. We have an intimate knowledge of local business and clearing practices. Our traditionally strong services in Western, Central and Eastern Europe have been strengthened thanks to the ability of our alliance partner SEB Group (SEB) to deliver in the Nordic Countries and the Baltic region. With this we have the largest integrated network in Europe.
General Information
SEB Unibanka provides the following financial services: account opening, reporting and payments & cash management.
| Currency | Latvian lat /LVL |
| Time zone | Greenwich Mean Time + 2 hour, Eastern Standard Time + 7 hours |
| Language | Latvian; English is widely spoken. |
Means of payment
Credit transfers are the predominant method of making payments, both in terms of volume and value. Both electronic and paper-based transfers are used, paper-based transfers being the more popular although, in recent years, there has been a significant increase in the use of electronic transfers.
Payments and Cash Management Services
| ACCOUNT OPENING | |
|---|---|
| Non-resident account | • |
| Resident account | • |
| PAYMENTS & CASH MANAGEMENT | |
| Cross-border transfers | • |
| Domestic transfers | • |
| Electronic Banking | • |
| Local Cash Pooling* | • |
| Repatriation of funds | • |
| REPORTING | |
| Electronic end of day reporting | • |
Profile SEB Group
The SEB Group is a leading Northern European financial services provider with offices in some 20 countries. SEB Merchant Banking supplies financial solutions to large companies and financial institutions and is the major clearer of euro transactions in the Nordic region.