Switching our lat services to euro will be as convenient as possible

Riga, Latvia, November 5, 2013, 14:00 / Banking

On 1 January 2014 Latvia joins eurozone, where our national currency lats will be replaced by euro. In this respect we ensure the most convenient changeover of services in lats to euro.

Main changes:

  • On the night of 1 January 2014 we will automatically exchange all lats available on accounts into euro at official changeover exchange rate 1 EUR = 0.702804 LVL, keeping former account numbers.
  • Along with the automatic account currency exchange, the current payment cards linked to accounts in lats will continue to work in euro. The current rates and charges of payment cards in euro will be applied to them.
  • The fees that were previously set in the rates and charges in lats will be stated in euro. For convenience ensuring dual price display, the fees will be also stated in lats in parentheses, until 30 June 2014.
  • Clients will be able to exchange cash in lats into euro at official changeover exchange rate at the bank’s cash desks from 1 January till 30 June 2014 free of charge, but at the Bank of Latvia — without term limitation.

From 1 January 2014 we decrease the fee for euro cash withdrawal from current account and will make ​​other changes in the rates and charges which can be found here:

We invite you to get acquainted with the information that is important for citizens and businesses about euro introduction at the home page of the Ministry of Finance of the Republic of Latvia www.eiro.lv.

If you have any questions, please contact your private banker.

Ilmārs Jargans
Head of Public Relations Department
+371 6777 5296
ilmars.jargans@ablv.com