Arrangements for disbursement of state-guaranteed compensation to ABLV Bank’s international clients
Phone number for reference: +371 67010076
From 03.03.2018, Citadele Bank will disburse state-guaranteed compensation to ABLV Bank clients. The compensation can be claimed up to the 3rd of March 2023.
Who can receive the state-guaranteed compensation
In accordance with the Deposit Guarantee law, state-guaranteed compensation can be issued to ABLV Bank’s Latvian and international customers - private customers and legal persons - who have deposits in ABLV Bank (for exceptions see below.)
State-guaranteed compensation applies to all depositors’ funds - term deposits, current accounts, wage accounts, savings accounts, etc. (not including financial instrument accounts).
By law, guaranteed compensation is not issued:
- For deposits with which no transactions have been made in the past 2 years, and whose value is less than 10 Euro;
- For deposits linked with money laundering or recognised as laundered money;
- Credit institutions, financial institutions, insurance companies, private pension funds, investment management firms and investment broker companies.
Where and how to apply for state-guaranteed compensation
If you are a Citadele client and use Citadele’s internet bank
Submit a free-form request on Citadele’s internet bank
Write a free-form request on Citadele’s internet bank requesting transfer of state-guaranteed compensation to your account at Citadele or at any other bank, credit institution of finance institution to which you would like to have your compensation sent.
If you wish to transfer your state-guaranteed compensation to “ABLV Bank” in order to meet your credit obligations in “ABLV Bank,” please write a free-form request on Citadele’s internet bank.
If you are not a Citadele client or do not use Citadele’s internet bank
For your convenience, we invite you to set up an appointment at the bank:
- By calling our 24 hour phone number at +371 67010076 or
- By using this application form
We look forward to seeing you at the “Citadele” branch in Riga, Republikas laukums 2A.
We invite you to choose your most convenient method for receiving compensation:
- Transfer to your bank account or
- If your deposits in ABLV Bank are less than or equal to 1,000 Euro, compensation may be paid in cash at the “Citadele” branch
Compensation will only be paid in EUR and in one transaction. If your deposit was in a different currency, it will have been converted to Euro.
We would like to inform you that, for the purpose of receiving guaranteed compensation, international clients are unable to open a new account.
Information about money transfer fees
|Money transfer to your own account in a Citadele Group bank||free|
|Money transfer to your own account in any other bank in Latvia||free|
|Other transfers||0.2% (min. EUR 24, max. EUR 75)|
|Cash withdrawal as per the bank’s price list||5 EUR (if the total is 10 EUR or more)|
What documents should be brought to the bank branch
Private customer: passport valid for travel into Latvia or personal identification (ID card) valid for travel into Latvia. We strongly recommend having also identification documents that have been used for identification in ABLV bank (in case if for identification in Citadele Bank another document is submitted).
Representative of a private customer (with power of attorney):
- Notarised power of attorney (example);
- Passport valid for travel into Latvia or personal identification issued by the Republic of Latvia Office of Citizenship and Migration Affairs, or personal identification valid for travel into Latvia.
- Passport valid for travel into Latvia, or personal identification issued by the Republic of Latvia Office of Citizenship and Migration Affairs, or personal identification valid for travel into Latvia of the person eligible to represent;
- Registration certificate, statutes (current edition) and certification of the rights to represent a legal person (for example: director’s appointment decree and/or notarised power of attorney);
- Document certifying the legal person’s active status;
- Information regarding notarized power of attorney for legal entities.
Please send your business’ scanned documents before coming to the bank by email to email@example.com to assess whether, as a whole, their contents and their legal format is sufficient to receive state-guaranteed compensation. Please pay attention to the fact that this e-mail is not intended for other questions. For all other queries, please contact the 24/7 phone +371 67010076 or use the application form.
Please take into account that Citadele Bank does not have the right to provide any information regarding a depositor’s being or not being on the list of guaranteed compensation recipients, nor the amount of compensation, to any unidentified persons.
The reply issued by the bank applies only to the legal evaluation of the documents submitted, indicating any incompleteness to be addressed should whoever wishes to submit these documents as a representative of an ABLV Bank depositor desire to apply for receive state-guaranteed compensation.
Please bear in mind that any suggestions offered by the bank regarding the quality of the documents submitted does not guarantee that the legal person named in the documents will receive guaranteed compensation as an ABLV Bank depositor.
How much money can be received
Each depositor can receive compensation of up to 100,000 Euro - depending on how much was deposited in the specific client’s ABLV Bank accounts.
Those clients whose total deposit sum with ABLV Bank is more than the 100,000 Euro limit set by the Deposit guarantee law can submit their claims as creditors as part of the ABLV Bank liquidation process.