If you need to transfer money to Latvia you might want to carefully research your options to be sure that you get the best deal available.
There are three main options to transfer money to Latvia, but the method you choose to use will depend on your personal circumstances.
Your first option is to enquire with your local high street bank. If your recipient has a Latvian bank account, with Norvik Bank or AS Hansabanka for example, then this can be a convenient way of transferring money.
However, the Latvian lats exchange rates on offer by the banks are not usually very competitive.
You can also expect to pay a per-transfer fee each time you transfer money to Latvia, so expect the costs to mount up if you move lats this way.
A possible alternative, especially useful if you need to transfer money to somebody who does not have access to a bank account in Latvia, is to use a Money Sending Bureau.
These are small establishments found on most high streets around the world. Unfortunately they also tend to charge per-transfer fees for their services - sometimes as much as ten or 15 per cent of the total amount transferred.
If you want to find a way to transfer money to Latvia without paying high fees then the third option, might be the best one for you.
RationalFX can offer you a low fee service when you transfer money to Latvia with us.
On top of this you will have access to some of the most competitive consumer currency exchange rates on the market.
Why not open an online account today for free! There is no need to commit to transferring money now but you can check out and compare the latest exchange rates on offer.