SEB Latvia review
Updated September 28, 2026 · VaultCue Editorial Team · Facts checked September 26, 2026
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Our verdict
SEB Latvia suits Latvian residents who want a bank account that pays interest on the everyday balance and lets money move at any time, with a headline rate of 1.9%. Cost is where it gives ground, so anyone shopping mainly on monthly fees or conversions should look elsewhere.
Key facts
- Best for
- A Latvian bank account that pays interest on an everyday balance you can still draw on whenever you like.
- Monthly fee
- €1↗
- Deposit protection
- EU DGS up to EUR 100,000↗
- Currency conversion fee
- 3%↗
- Currencies
- 20↗
- Local account details
- IBAN↗
- Free ATM withdrawals
- €750 to €1,500↗
- Transfer fee
- SEPA 0.25 EUR online, 5.00 EUR in branch; cross-border 12.00 EUR SHA / 21.00 EUR OUR online↗
- Legal entity
- AS "SEB banka"↗
- Headquarters
- Latvia↗
- Support channels
- Email, Chat, Phone↗
- Audience
- Teens
- Features
- Free ATM withdrawals
- Official website
- seb.lv
Savings
Money transfer
- Delivery time
- D+0 for standard SEPA ordered until 16:30, D+2 for standard cross-border payments, instant payments within 10 seconds↗
- Payout methods
- Bank↗
- Fee to send 1,000
- €12↗
Facts checked September 26, 2026, 9 sources
Apps and profiles
- Get the app
- Google Play
Pros and cons
Pros
- Money is protected under EU DGS up to EUR 100,000, and the bank is supervised by Latvijas Banka (Bank of Latvia) in Latvia.
- Top up and withdraw at any time with unlimited deposits and withdrawals, and set a standing order from a current account.
- Support runs on email, chat and phone, so a phone call is among the ways to reach the bank.
- Payments include instant transfers that settle in seconds alongside standard SEPA and cross-border options.
Cons
- A monthly fee of €1 applies, set against a €0 median across the accounts listed on the site.
- The conversion fee of 3% sits well above the 0.5% median across the accounts listed.
- Interest on the balance of 1.9% trails the 3% median, so the saving side is modest.
Who it suits
- Latvian residents who want their everyday balance to earn interest, with no fixed deposit term and unlimited withdrawals.
- Teenagers opening an account of their own, since the audience the bank lists is teen.
- People paid in several currencies who need a Latvian IBAN, with 20 currencies on the account.
Who should look elsewhere
- Anyone who wants to pay no account fee, since Skrill lists a monthly fee of €0 where SEB Latvia charges €1.
- Frequent currency converters, who should weigh eToro against the 3% conversion fee before opening.
- Savers after a locked return for a set period, since the rate is variable and the balance stays available.
Rates and terms
Interest is paid on the account balance at 1.9%, and the rate is variable, so it follows the market rather than being fixed for a set period. There is no fixed deposit term: you can top up and withdraw at any time, with unlimited deposits and withdrawals, and a standing order from a current account is possible.
How SEB Latvia compares
8.8 vs 8.7
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8.8 vs 8.9Its monthly fee of £0 is worth setting beside the 1.9% paid on a balance here.
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8.8 vs 9.2
8.8 vs 8.7
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8.8 vs 8.7
8.8 vs 9.0Lists a monthly fee of €0 in the same currency as €1 here, the cleanest like for like comparison.
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8.8 vs 9.0
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8.8 vs 8.9- 8.8 vs 8.9
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Where SEB Latvia is available
- Available
- Latvia
- Licence in Latvia
- Latvijas Banka (Bank of Latvia), checked September 26, 2026
Countries from the brand (Source, checked September 26, 2026)
Frequently asked questions
How much does it cost to keep an account with SEB Latvia?+
The current account carries a monthly fee of €1. On top of that, standard SEPA transfers cost much less online than in branch, cross-border transfers run to €12 online, and the charge is higher when the full amount has to reach the recipient. Cash machine withdrawals are free up to €750 to €1,500.
Is my money safe with this bank?+
Deposits are covered by EU DGS up to EUR 100,000. The provider is AS "SEB banka", a bank based in Latvia and supervised by Latvijas Banka (Bank of Latvia), so the balance sits inside a deposit protection scheme rather than outside one.
How much do I need to open it, and can I get my money out?+
The minimum deposit is €0.01. There is no fixed deposit term: you can top up and withdraw at any time, with unlimited deposits and withdrawals, and a standing order from a current account is possible. Interest is paid on the balance you hold.
What interest do I earn on my balance?+
Interest is paid on the account balance at a headline rate of 1.9%, and the rate is variable, so it moves with the market rather than being locked. For comparison, the median headline rate across the accounts listed on the site is 3%.
How many currencies can I hold, and what does converting cost?+
The account supports 20 currencies, and local account details come as an IBAN. Converting between currencies costs 3%, which is higher than the 0.5% median for the accounts listed here, so conversion is the cost to watch.
How quickly do payments arrive?+
Standard SEPA payments ordered before the cut-off arrive the same day, standard cross-border payments take a little longer, and instant payments settle in seconds. Fees differ by speed and route, with the cross-border transfer fee at €12 online.
Who is this account aimed at?+
The listed audience is teen, so younger customers opening an account of their own are the natural fit. It also suits anyone in Latvia who wants the everyday balance to earn interest while staying available, and the account kind is easy access.
Sources
- seb.lv checked September 26, 2026
Backs: Audience, Legal entity
“Īpašais piedāvājums jauniešiem (18 - 25): ikdienas bankas pakalpojumi bez maksas līdz pat Tev paliks 26 gadi”
- seb.lv/en/private/daily-banking/payments checked September 26, 2026
Backs: Payout methods
“Quick and convenient way of transferring money to other banks in Latvia, European Union, European Economic Area countries, as well as the United Kingdom, Switzerland, Monaco, San Marino, Andorra,...”
- seb.lv/en/private/price-list-individuals checked September 26, 2026
Backs: Delivery time, Fee to send 1,000
“If bank can process payment order as Instant payment it will reach beneficiary account generally within 10 seconds”
- seb.lv/klientu-sudzibu-izskatisana checked September 26, 2026
Backs: Deposit protection, Headquarters, Licences
“Nosūtot vēstuli pa pastu uz Elizabetes iela 95, Rīga, Latvija, LV-1050”
- seb.lv/privatpersonam/cenradis-privatpersonam checked September 26, 2026
Backs: Free ATM withdrawals, Features, Currency conversion fee, Local account details, Monthly fee, Transfer fee
“Komisijas maksa par valūtas konvertāciju, ja kartei piesaistītā pamatkonta valūta nav vienāda ar darījuma valūtu: 3%”
- seb.lv/privatpersonam/ikdienas-pakalpojumi/norekinu-konts checked September 26, 2026
Backs: Currencies
“Pievienot papildu valūtas un veikt norēķinus no viena konta vairāk nekā 20 valūtās, izmantojot multivalūtu konta priekšrocības”
- seb.lv/privatpersonam/klut-par-klientu/klut-par-klientu checked September 26, 2026
Backs: Support channels
“Atbalsts pieejams Jums ierētākajā veidā: Atvērt tiešsaistes čatu, Zvanīt +371 26668777, e-pastā saņemsi saiti uz video konsultāciju”
- seb.lv/privatpersonam/uzkrajumi-un-ieguldijumi/uzkrajumi/... checked September 26, 2026
Backs: Headline rate, Minimum deposit
“Gada procentu likmes par naudas glabasanu Krajkonta ... EUR 1.90% ... Procentu likmes ir speka no 06.07.2026”
- seb.lv/privatpersonam/uzkrajumi-un-ieguldijumi/uzkrajumi/... checked September 26, 2026
Backs: Access terms, Account kind, Rate type
“Krajkonts ir drošs veids, kā uzkrat naudu ... Jus vienmer varat brivi ieskaitit naudu konta, kā arī to vienkārši iznemt, kad nepieciešams”
Compiled from 9 source pages, checked September 26, 2026. We did not open an account.
Not confirmed yet: Licence type.
Related by the facts
SEB Latvia
A Latvian bank account that pays interest on an everyday balance you can still draw on whenever you like.