The easiest way to transfer money to Latvia depends largely on your own circumstances and how much money you need to move.
If you want to transfer money to Latvia to a recipient who doesn't have access to a bank account then your first port of call might be a Money Sending Bureau.
These are conveniently located on high streets and in shopping malls around the world. However, their services usually come at an unnecessarily high cost.
You won't receive the best exchange rate on the Latvian lats and each time you transfer money to Latvia you can expect to pay ten to 15 per cent of your transaction value in fees to the bureau.
Alternatively you can enquire with your local bank about their money transfer services if you are looking to move money to somebody with an account at a Latvian bank, such as Parex Bank or the Baltic International Bank.
Unfortunately, high street banks don't tend to offer very competitive Latvian lats exchange rates to consumers.
You can also expect to pay per-transfer fees here, although they are unlikely to be as high as those of the Money Sending Bureaus.
If you want to avoid paying these high fees altogether then it could be worth enquiring with RationalFX about our currency exchange rates on the lat.
You can do this easily by opening an online account with us for free, which will then allow you to check out all of the currency exchange rates on offer today.
When browsing these rates do keep in mind that we do not charge high per-transfer fees!