The Bank of Latvia has called upon both individuals and legal entities to report instances where credit institutions refuse to open basic accounts. This statement emphasizes the importance of access to cashless payment systems in modern society, indicating that without these accounts, full participation in business and society is hindered. The central bank stresses that the existing regulations around account openings are reasonable, yet many may still face difficulties, making it crucial for citizens to know their rights.

A basic account facilitates access to essential payment services for EU residents, ensuring that services are available without discrimination based on citizenship or residence. The introduction of this type of account aims to guarantee that everyone, regardless of their financial situation, can receive necessary financial services. The Bank of Latvia is dedicated to creating a financially inclusive environment, which they believe is vital for the economic participation of all citizens.

By encouraging individuals and businesses to report any refusals they experience, the Bank of Latvia aims to address potential systemic issues within the banking sector that may hinder access to basic financial services. This step indicates the central bank's commitment to ensuring that all residents can fully engage in the economy and emphasizes the need for transparency and accountability among credit institutions in their dealings with clients.