BluOr are offering 4% for 6 months via Raisin.It's currently 3.25% AER for a 6 month term.
I began opening an account on Friday, direct with Blue Or. Smooth enough process, uploaded a pdf of my passport. Got an email today to review the application. It seems I did not put my name in exactly as stated on passport. Awaiting approval from them.Anyone dealing with this bank?
How long does it normally take them to process account opening?
I began opening an account on Friday, direct with Blue Or. Smooth enough process, uploaded a pdf of my passport. Got an email today to review the application. It seems I did not put my name in exactly as stated on passport. Awaiting approval from them.
Does BluOr bank offer assistance in reclaiming Latvian withholding tax ?
I don't see any information about this on their website.
Latvia are fussy regarding tax documents. I have an account with BluOr through Raisin.
My Irish revenue signed tax documents were rejected as they were a photocopy of the original. Irish revenue tend to keep the original documents and return photocopies.
Yes, it's bad practice.You´re not the first person I´ve seen posting this about Revenue sending photocopies. I´m surprised Irish Revenue aren´t aware they should send the original withholding tax form back, you´d think they´d keep the copies themselves.
Did they take long to come back to you?Yes, it's bad practice.
I had to include a note to Irish revenue to return the original signed Latvian tax document.
They were reasonably quick. 4 or 5 weeks.Did they take long to come back to you?
I was refused last year via Raisin. I'm not too bothered if they refuse again.My latest communication from BluOr. I'm on the naughty list by the looks of it. Anyone else run into this issue and was it possible to resolve it?
Hello!
We inform you that, unfortunately, in accordance with the General Terms and Conditions of Transactions, we are forced to refuse you the product of our Bank "a Standard Deposit".
We look forward to successful cooperation!
I was refused last year via Raisin. I'm not too bothered if they refuse a
I just got the same rejection. I wonder is it because I already have an account via Raisin. Was hoping to improve my return by going direct.My latest communication from BluOr. I'm on the naughty list by the looks of it. Anyone else run into this issue and was it possible to resolve it?
Hello!
We inform you that, unfortunately, in accordance with the General Terms and Conditions of Transactions, we are forced to refuse you the product of our Bank "a Standard Deposit".
We look forward to successful cooperation!
Not too bothered either. Their latest reply was this when I asked for a reason.I was refused last year via Raisin. I'm not too bothered if they refuse again.
I might chase them again so. Raisin came back this morning to advise of a new lower rate on renewal with BluOr, down to 2.7%. A sign of things to come.This morning, I received an email confirming the opening of the account!
Yikes! There's a limit to the Deposit Guarantee Fund? I did not know that!I've been looking into them as well, but struggling to find data which points to their bona fides. I did come across an assessment from a German website.
BluOr Bank Rating
We currently do not have a rating for BluOr Bank and therefore no assessment of its creditworthiness from a rating agency. However, this is not unusual, as banks like BluOr Bank have to pay for the creation of such ratings themselves, which can quickly become very expensive. Therefore, almost only larger banks afford this luxury, as they may achieve greater savings when refinancing via the capital market through a rating. The fact that BluOr Bank does not have a rating from Fitch, Moody's or S&P is not automatically a sign of the bank's low security...
...It is therefore often more meaningful to look at the BluOr Bank itself, because the central question for you as an investor should of course be whether the deposit insurance would have enough money to fully compensate all investors in the event of the BluOr Bank going bankrupt. For 2022, BluOr Bank reported customer funds amounting to 577.71 million euros (source: Annual Report 2022 ). If you put this value in relation to the assets of the deposit protection fund (175.81 million euros), the coverage ratio for BluOr Bank is 30%. Loosely translated, this means that, at least based on the latest publicly available figures, the Latvian Deposit Insurance Fund would have far too little money available in the event of bankruptcy to fully compensate all of BluOr Bank's investors on its own.
https://www.kritische-anleger.de/blueor-bank/festgeld-weltsparen/#Sicherheit