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Banking in Latvia

Best banks in Latvia for expats & digital nomads

Opening a bank account is one of the first things you do after moving to Latvia. Here are the accounts that work for newcomers and non-residents, plus the fintech we would set up before you fly.

How to open a bank account in Latvia

A passport or ID and proof of a Latvian address are the basics; Latvia tightened non-resident banking sharply after 2018, so foreigners without local ties face heavy due diligence. Euro is the local currency.

Our top pick

Wise multi-currency account

Wise is the option we recommend for almost anyone moving to Latvia: hold and convert 40+ currencies, get local account details to be paid like a local, and send money at the real exchange rate with low, transparent fees. It works before you even arrive, so you can receive income and pay deposits while your local account is still being set up.

Open a free Wise account →

Affiliate link: we may earn a commission at no cost to you. Wise is a fintech, not a bank; balances are safeguarded, not covered by deposit insurance.

Top banks in Latvia

Swedbank

traditional
Largest bank, English service

Leading retail bank in Latvia with strong digital tools and English support.

SEB banka

traditional
Everyday retail banking

Swedish-owned; second major Nordic bank widely used by residents.

Citadele banka

traditional
Local full-service banking

Latvian-based bank operating across the Baltics.

Luminor Bank

traditional
Baltic-wide banking

Nordic-rooted bank serving all three Baltic states.

Rietumu Banka

traditional
Corporate and private clients

Latvian bank focused on business and wealth clients.

International accounts & neobanks

Revolut

Available EEA-wide; commonly used in Latvia.

N26

N26 lists Latvia as a supported country (euro account).

Payoneer

Receiving accounts for freelancers in USD/EUR/GBP.

Bunq

Listed by bunq as a supported EEA country, though testers report signups are sometimes blocked.

Availability changes; confirm on each provider's site.

Next steps in Latvia

See the full Latvia tax, cost and visa profile, or compare Latvia with other destinations. Not sure where to go yet? Take the finder quiz.