Banks in Latvia are once again changing their price lists. Sweetening the pill, they say that this is a logical process stemming from the assessment of new products and the costs of maintaining existing services, writes Grani.lv. But clients find no relief in the explanations, as they often have to pay more.
Leading Latvian banks have begun to change their price lists. Mainly, this is in the direction of increasing prices (although there are some rare 'bonuses'). To soften the negative impact, they are enriching service packages with new options: now you get more, so don't complain.
People do not complain. More precisely, they do not risk complaining. After the diligent 'cleaning of the banking sector' carried out by the state in 2018-2019, changing banks is no longer so simple. Banks have become indifferent to the outflow of old clients and very selective about the inflow of new ones, whom they check as if they were known criminals trying to open an account, and it is better to refuse them just in case.
So we read the new price list and silently agree.
Swedbank: New Fee for Account Maintenance
Starting June 1, Swedbank has introduced a monthly fee of 2 euros for accounts. This will not affect holders of the Pamata, Ikdienas, and Aktīvais packages, as well as clients under 25 years old, seniors over 65, and credit card users. But others will have to pay.
The Pamata package will remove the limit of 10 free payments to other banks. An unlimited number of payments will be allowed, but the monthly fee for this package will be 2.5 euros.
Among the unexpected gifts, which banks are usually so stingy with: Swedbank is abolishing the fee for maintaining an inactive account (previously it was 1 euro per month). The additional charge for currency conversion for ISIC cards will also be canceled, and the additional charge for Gold credit cards will be halved.
The commission for transactions with debt securities on the Baltic stock exchanges has been reduced to 0.1%, and the minimum commission is now 20 euros. A fee of 5 euros will apply to international payments from countries outside Europe.
Starting June 1, the commission for cash deposits and withdrawals at branches, as well as for cash withdrawals at Swedbank and SEB ATMs exceeding the established free limit of 750 euros, will be 0.7% of the amount exceeding 750 euros.
The production and delivery of payment cards will become more expensive: to have a Swedbank card sent to you by mail, you will have to pay 2.5 euros, and if you want to receive it in person at a branch, it will cost 5 euros.
SEB Bank: Card Replacement Will Be Cheaper, Card Sending Will Be More Expensive
The cost of sending a card by mail will now be 1.5 euros instead of the previous 1 euro. However, the fee for replacing debit and credit cards will decrease. Until now, the fee was 6 euros for a debit card, 10 euros for a Standard credit card, and 15 euros for a Premium credit card. Now, replacing a debit card will cost 1.4 euros if the card is activated in online banking or the mobile app, or 5 euros if activation occurs in person at the bank or by phone at the customer service center. For a Standard credit card, this fee will be 2.5 or 5 euros respectively, and for a Premium credit card – 3.6 or 5 euros.
Changes in prices for investment services are also planned. For users of the dynamic package, the minimum commission for buying and selling securities in online banking will now be 0.25% of the amount, with a minimum amount of 3 euros (previously the minimum amount was much higher). The commission for purchasing Baltic debt securities and eurobonds will be 0.2% of the amount, with a minimum amount of 5 euros.
Starting in June, the fee for making changes to the mortgage agreement at the client's initiative will be 150 euros. The bank will retain the right to change the due date of the monthly loan payment once a year for free, and each subsequent change will incur a fee of 50 euros.
The monthly fee for an uninsured leasing object will also increase – it will be 24.2 euros instead of the previous 10 euros plus VAT.
Cross-border payments will become more expensive. Cross-border payments made in online banking and the mobile app with SHA-type commission (the fee is shared between the sender and the recipient: the sender pays their bank's fee, and the recipient's bank may deduct the fee from the received amount) will now cost 12 euros instead of the previous 11.5 euros, and with OUR-type commission (all fees are paid by the sender) – 21 euros instead of the previous 20 euros. At the same time, the SHA commission for payments made in person at the bank will increase to 15 euros instead of the previous 14.5 euros.
Luminor Bank: Higher Package Prices, but Clients Can Insure Pets and Grandchildren
Starting June 1, the monthly fee for the Luminor Black package and the Luminor Black card has been increased to 6.9 euros. The price has increased by 1.4 euros, but clients will also receive a number of additional benefits, including extended purchase insurance, broader travel insurance, including for grandchildren and in case of pet injuries, and extended insurance for broken bones and lacerations for family members.
Citadele: Card Fee Will Skyrocket Almost Fivefold, but There Are Options
Starting August 1, 2026, changes to the monthly fee for the Citadele C supreme card are planned – instead of 1 euro, it will be 4.99 euros per month. But there are options to reduce it. For example, with active use of the card, the monthly fee can be reduced by even 50%.
