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Swedish SEB in Latvia falling short of high standards

Not long ago I opened an account in SEB, Latvia. Everybody knows that it’s a subsidiary of big and important Swedish bank.

Unexpectedly for me the bank asked for the reasoning to open an account. After some negotiations we decided to use a purchase contract for a flat, as it is in no way binding: no terms or prices are indicated, no fines follow it.

Internet-banking turned out comfortable, the speed of euro transactions is cosmic, just like the tariffs for such transactions, compared to the Russian prices in rubles. 

Negative traits:

Cash acceptance and internal transactions are to be paid for. That’s quite strange for those who are not used to it.

Then I found out that their IBAN is not multicurrency. It means that usually when the transaction is carried out in franks or pounds, banks transfer this money to a foreign currency account, basing on the currency received. While SEB transfers it to a usual account according to its own exchange rate (unless you indicate a foreign currency account).

It’s impossible to change the active account on a card.

In general, the bank is not the best. I would rather recommend some other bank for those, who prefer to enjoy bank services and functions.

28 August 2015


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