Arrangements for disbursement of state-guaranteed compensation to ABLV Bank’s international clients

Phone number for reference: +371 67010076

Starting from 03.03.2018, Citadele Bank has been disbursing the state-guaranteed compensation to ABLV Bank clients. The compensation can be claimed until March 3, 2023.

Starting from August 6, 2018, the state-guaranteed compensation will be issued only after the applicant registers for a planned visit to the bank. You can register your visiting time by calling the Bank at +371 67010076 or by filling this application form.

Who can receive the state-guaranteed compensation

In accordance with the Deposit Guarantee law, the state-guaranteed compensation can be paid to the ABLV Bank’s Latvian and international customers - private individuals and legal entities - who have deposits in ABLV Bank (see below for exceptions).

The state-guaranteed compensation applies to all depositors’ funds - term deposits, current accounts, salary accounts, savings accounts, etc., but does not apply to financial instrument accounts.

According to the law, the guaranteed compensation is not paid for:

  • deposits that are less than 10 Euro and that were not involved in any transactions in the past 2 years;
  • deposits involved in money laundering or recognised as laundered money;
  • deposits of 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, including payment details issued by the “ABLV Bank”.

If you are not a Citadele client or do not use Citadele’s internet bank

It is necessary to set up an appointment at the bank:

We look forward to seeing you at the “Citadele” branch in Riga, Republikas laukums 2A, after you have agreed your appointment time within the Bank

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

Services Cost
Money transfer to your own account in a Citadele Group bank free
Other transfers for private individuals 0.2% (min. EUR 24, max. EUR 75)
Other transfers for legal entities 250 EUR
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.

Legal person:

  • 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 info_int@citadele.lv 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.

Phone number for reference

+371 67010076

Frequently Asked Questions