The launch of non-address money transfers in Latvia, in partnership with NORVIK BANKA, is another step in UNISTREAM International Money Transfer System strategy which is aimed at expanding its presence in the Baltic countries. Thanks to this partnership, UNISTREAM has expanded the capabilities of its system in Latvia both with the new non-address transfer options and the fact that they have more than doubled the number of service outlets in the country.
Customers can send and receive UNISTREAM money transfers throughout the NORVIK BANKA network, which includes more than 80 service locations in 17 cities in Latvia including Riga, Daugavpils, Liepaja, Ventspils, Rezekne, Jurmala, and others. Due to the alliance with UNISTREAM, NORVIK BANKA has offered a new service for customers — instant money transfers without opening an account.
Customers can send money transfers in various currencies including EUR, USD, GBP, and RUB. They can send transfers from NORVIK BANKA offices to more than one hundred countries where UNISTREAM operates. The commission fee for a transfer to Russia and the CIS countries (for example) is 1.5% of the amount transferred. The maximum amount that can be transferred is EUR 10,000 (USD 13,000 or GBP 8,000 or RUB 400,000).
According to the UNISTREAM analytical center, Latvia ranks first among the Baltic states in terms of UNISTREAM money transfers. In H1 2013, Latvia accounted for more than half of the total amount of money transferred through UNISTREAM in the Baltic countries. The heaviest money transfer destinations in this area are Russia-Latvia and UK-Latvia.
Whereas the UK-Latvia money transfer destination has traditionally been strong because of the large number of Latvian expats in the United Kingdom, the strong growth in money transfers from Russia to Latvia is attributed to the growing demand of Russians for real estate in this country (especially in Riga and in the Jurmala resorts) and the development of Russian businesses in Latvia.
"Given the growing attractiveness of Latvia as a real estate market and the development of Russian businesses in this country, the popularity of UNISTREAM transfers in this destination is also growing. With UNISTREAM, you can any time transfer money to relatives, friends or business partners in this country, pay rent or send car payments", says Kirill Palchun, the head of the UNISTREAM International Money Transfer System.
International Money Transfer System UNISTREAM is one of the most popular such systems in Russia and the CIS. It is currently operating in over 100 countries through more than 333,500 locations, including self-service terminals.
UNISTREAM customers can transfer money, and also affect other kinds of payments (repay loans, pay for utility and other services. UNISTREAM Money Transfer System includes proprietary chains of service outlets and payment terminals.
In 2012, UNISTREAM became one of the co-founders of the National Payments Council, a non-profit partnership established under the aegis of the Central Bank of Russia and Russian Banks Association.