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BluOr Bank

4.6 / 10 Overall Score

Website: https://www.bluorbank.lv/en/index
Jurisdiction: Latvia
Operating Since: 5-10 years
Regulatory Status: N/A

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Company & Contact

Legal Name: BluOr Bank AS
Phone: #ERROR!
Email: info@bluorbank.lv
Address: —

License Info: —

In-Depth Broker Review

What’s inside: Company overview, account types, and deposit & withdrawal guidance.

Company Profile
Account Types
Deposit & Withdrawal

Broker Details

# BluOr Bank Company

## Company Overview

BluOr Bank company, officially known as BluOr Bank AS, is a Latvian financial institution that provides a comprehensive range of banking services, including asset management, brokerage services, and daily banking for corporate and individual clients. Established on June 22, 2001, the bank has evolved significantly since its inception, focusing primarily on corporate banking with an emphasis on small and medium-sized enterprises (SMEs).

The bank is wholly owned by Latvian entrepreneurs and is recognized as one of the top banks in Latvia. Its headquarters are located in Riga, Latvia, and it operates within the Baltic states and across Europe, offering services that include trading in various financial instruments such as stocks, bonds, futures, options, and cryptocurrencies.

## Corporate Development

Since its founding, BluOr Bank has undergone several notable developments. Initially established as "Baltikums Bank," it rebranded to "BlueOrange Bank" in 2017 and later adopted its current name, BluOr Bank AS, in March 2022. The bank has been recognized for its technological advancements, becoming the first online bank in Latvia in 2018 and introducing contactless card ATMs in the same year.

The bank's strategic priorities include expanding its client base in the Baltic region and enhancing its service offerings through partnerships with international fintech companies.

## Corporate Structure and Subsidiaries

BluOr Bank operates as a corporation and has grown its workforce from 39 employees at its inception to approximately 260 employees as of October 2025. The bank's organizational structure includes a management board led by Dmitrijs Latiševs and a supervisory board comprising several key figures in the financial sector. The internal organization encompasses various departments that handle banking operations, asset management, and client services.

## Regulation and Compliance

BluOr Bank is regulated by the Financial and Capital Market Commission (FCMC) of Latvia, ensuring compliance with national and EU banking regulations. The bank operates under the applicable legislation of Latvia and is subject to the deposit guarantee law, which protects depositors up to €100,000. The bank has implemented measures for client fund protection, including the segregation of client funds.

The bank's commitment to transparency is reflected in its audit processes, which are conducted by PricewaterhouseCoopers SIA.

## Global Presence and Market Coverage

BluOr Bank serves a diverse geographic market, primarily focusing on clients in Latvia, the Baltic states, and broader European markets. The bank's operations include offering a wide array of financial products and services, catering to both individual and corporate clients.

The bank has established a reputation for its agile decision-making and personalized client service, which has contributed to its growing presence in the local and regional markets.

## Financial and Operational Data

As of 2024, BluOr Bank reported total assets of €1.049 billion and a net income of €17.9 million. The bank's liquidity ratio stands at 156.28%, and its return on equity (ROE) is 20.03%. The bank employs around 260 staff, reflecting its commitment to maintaining a robust operational framework to support its client base.

## Reputation and Industry Standing

BluOr Bank is regarded as one of the systemically important banks in Latvia, recognized for its stability and commitment to corporate banking. The bank's reputation is bolstered by its focus on customer service and technological innovation. It is a member of the Finance Latvia Association, which is part of the European Banking Federation, further enhancing its credibility within the financial community.

## Summary

BluOr Bank company has established itself as a key player in the Latvian banking sector, providing a wide range of financial services while adhering to stringent regulatory standards. With a focus on corporate banking and a commitment to innovation, BluOr Bank continues to strengthen its market presence and operational integrity, positioning itself as a trusted financial partner in the Baltic region and beyond.

Account Types

# BluOr Bank Account Types

BluOr Bank offers various account types tailored to meet the needs of different traders. Below are the available account types along with their specifications:

| Account Type | Minimum Deposit | Spreads/Commission Model | Leverage Limits | Trading Instruments | Base Currencies Supported | Execution Model | Unique Features |
|--------------|------------------|-------------------------|------------------|---------------------|--------------------------|------------------|------------------|
| Standard     | €1,000           | Floating spreads from 0.2 pips; FX commission 0.008%, CFD commission 0.012% | Up to 1:30        | Forex, Metals, Commodities, Bonds, Cryptocurrencies, Indices | EUR, USD, GBP       | ECN               | Negative balance protection |
| ECN          | Not specified     | Low volume-based commission | Up to 1:30        | Forex, Metals, Commodities, Bonds, Cryptocurrencies, Indices | EUR, USD, GBP       | ECN               | Direct access to interbank liquidity |
| Demo         | Not specified     | Not applicable           | Not applicable    | Not applicable       | Not applicable            | Not applicable    | Practice trading without risk |

# BluOr Bank Broker Account Opening Process

To open an account with BluOr Bank, follow these steps:

1. **Visit the Account Registration Page**: Go to the official BluOr Bank website and navigate to the account registration section.
2. **Fill Out the Application Form**: Enter your personal details, including full name, email, and password.
3. **Agree to Terms**: Accept the terms of service and privacy policy.
4. **Email Verification**: Verify your email by clicking the link sent to your inbox.
5. **KYC Verification**: Upload identity documents and proof of residence for Know Your Customer (KYC) verification.
6. **Account Approval**: Wait for account approval, which typically occurs on the same business day.
7. **Fund Your Account**: Make the minimum deposit of €1,000 using the supported deposit methods.
8. **Access Trading Platforms**: Once approved and funded, you can access the trading platforms available for your account type.

Optional steps for demo accounts or professional accounts may vary and are typically outlined during the registration process.

Deposit & Withdrawal

# BluOr Bank Deposit & Withdrawal Guide 2025: Methods, Limits, and Processing Times Explained

## BluOr Bank Minimum Deposit Explained

### Minimum Deposit Amount
The minimum deposit requirement for BluOr Bank varies based on the residency of the client:
- **Latvian Residents**: €500
- **EU Residents and EU-registered Companies**: €1,000

### Account-Type Comparison
BluOr Bank offers different account types, primarily focusing on business and personal accounts. The deposit requirements remain consistent across these types, but the services and features may differ.

### Regional Differences
The minimum deposit for Latvian residents is lower than that for EU residents, reflecting the bank's strategy to attract local clients while maintaining a competitive edge in the broader EU market.

### Advantages
1. **Low Minimum Deposit**: Competitive minimum deposit requirements make it accessible for small investors.
2. **State Indemnity**: Deposits are protected up to €100,000, providing security for depositors.
3. **Remote Account Opening**: Clients can open accounts online without visiting a branch.
4. **Diverse Financial Products**: Access to various financial products, including savings accounts and investment opportunities.

### Disadvantages
1. **Limited Availability for Non-EU Residents**: The minimum deposit requirements are stricter for non-EU residents.
2. **Fees on Withdrawals**: Cash withdrawals at ATMs outside BluOr Bank incur fees, which can reduce overall returns.
3. **Potentially High Fees for Certain Transactions**: Some financial transactions may attract higher fees, impacting profitability.
4. **Limited Customer Support**: There are reports of inadequate customer service, which can hinder the banking experience.

### Competitor Comparison
Compared to other banks in the region, BluOr Bank’s minimum deposit is competitive, especially for local residents. However, larger banks may offer more comprehensive services or lower fees for higher account balances.

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## BluOr Bank Deposit Methods Comprehensive Guide

### Available Deposit Methods
1. **Bank Transfer**
   - **Processing Time**: 1-3 business days
   - **Fees**: Generally free for local transfers; international transfers may incur fees.
   - **Availability**: Widely available for all clients.
   - **Limits**: Minimum deposit of €500 for Latvian residents and €1,000 for EU residents.
   - **Pros**: Secure and straightforward method.
   - **Cons**: Longer processing times for international transfers.

2. **Credit/Debit Cards (Visa, Mastercard)**
   - **Processing Time**: Instant to 1 business day
   - **Fees**: Typically low, but may vary based on card issuer.
   - **Availability**: Available for all clients.
   - **Limits**: Subject to card limits; generally aligns with minimum deposit requirements.
   - **Pros**: Quick and convenient.
   - **Cons**: May have withdrawal limits.

3. **E-wallets (e.g., Revolut)**
   - **Processing Time**: Instant
   - **Fees**: Varies; usually low.
   - **Availability**: Limited to specific e-wallets.
   - **Limits**: Must meet minimum deposit requirements.
   - **Pros**: Fast and efficient.
   - **Cons**: Not universally accepted for all transactions.

4. **Cryptocurrency**
   - **Processing Time**: Varies based on network speed.
   - **Fees**: Transaction fees may apply.
   - **Availability**: Limited options; check with the bank.
   - **Limits**: Must meet minimum deposit requirements.
   - **Pros**: Potential for lower transaction fees.
   - **Cons**: Volatility in value can affect overall deposit amount.

5. **Local Options (Cash Deposits)**
   - **Processing Time**: Instant
   - **Fees**: Varies; some fees may apply.
   - **Availability**: Limited to specific branches.
   - **Limits**: Minimum deposit of €500 or €1,000.
   - **Pros**: Immediate crediting.
   - **Cons**: Requires physical presence at a branch.

### Supported Currencies and Recommended Methods
- **Supported Currencies**: Primarily Euro (EUR).
- **Recommended Methods**: For speed, credit/debit cards and e-wallets are recommended. For security, bank transfers are preferable.

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## BluOr Bank Deposit Steps Explained

### Step-by-Step Deposit Procedure
1. **Log into Your Account**: Access your BluOr Bank account through the web portal or mobile app.
2. **Select Deposit Method**: Choose your preferred deposit method (bank transfer, card, etc.).
3. **Enter Deposit Amount**: Specify the amount you wish to deposit, ensuring it meets the minimum requirements.
4. **Confirm Details**: Review the transaction details and confirm your deposit method.
5. **Submit Deposit**: Complete the transaction and await confirmation of your deposit.

### Mobile vs Web Differences
- **Mobile**: The mobile app offers a streamlined interface for deposits, allowing for quick access to payment methods.
- **Web**: The web portal may provide more detailed transaction options and history.

### KYC Notes and Common Issues
- **KYC Requirements**: Ensure that all identification and verification documents are submitted as required.
- **Common Issues**: Delays may occur due to incomplete KYC documentation. Ensure all documents are current and accurately submitted.

### Typical Fund Crediting Times
- **Instant Deposits**: Credit/debit card and e-wallet deposits are typically credited instantly.
- **Bank Transfers**: May take 1-3 business days, depending on the transfer type.

---

## BluOr Bank Withdrawal Methods Overview

### Available Withdrawal Channels
1. **Bank Transfer**
   - **Processing Time**: 1-3 business days
   - **Fees**: Typically free for local transfers; international transfers may incur fees.
   - **Limits**: Subject to account balance and withdrawal limits.
   - **Pros**: Secure and reliable.
   - **Cons**: Longer processing times.

2. **Credit/Debit Cards**
   - **Processing Time**: 1-5 business days
   - **Fees**: Varies; may incur fees depending on the card issuer.
   - **Limits**: Limited to the amount available on the card.
   - **Pros**: Quick and convenient.
   - **Cons**: May have lower withdrawal limits compared to bank transfers.

3. **E-wallets**
   - **Processing Time**: Instant to 1 business day
   - **Fees**: Varies by provider; generally low.
   - **Limits**: Must be in line with minimum deposit requirements.
   - **Pros**: Fast and efficient.
   - **Cons**: Limited availability.

4. **Cash Withdrawals at ATMs**
   - **Processing Time**: Instant
   - **Fees**: €2 for withdrawals at BluOr Bank ATMs; 2% + €4 for other ATMs.
   - **Limits**: Up to €500 free withdrawal; fees apply beyond that.
   - **Pros**: Immediate access to cash.
   - **Cons**: High fees for withdrawals from other banks.

### Recommended Options by Cost and Speed
- **Cost-Effective**: Bank transfers are typically the most cost-effective option.
- **Fastest**: E-wallets and cash withdrawals at BluOr Bank ATMs provide instant access.

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## BluOr Bank Withdrawal Steps Explained

### Step-by-Step Withdrawal Instructions
1. **Log into Your Account**: Access your BluOr Bank account via the web or mobile app.
2. **Select Withdrawal Method**: Choose your preferred withdrawal method (bank transfer, card, etc.).
3. **Enter Withdrawal Amount**: Specify the amount you wish to withdraw.
4. **Confirm Details**: Review and confirm the withdrawal method and amount.
5. **Submit Withdrawal**: Complete the transaction and await confirmation of your withdrawal.

### ID Verification Requirements
- Ensure that your identity is verified before attempting to withdraw funds. This may require submitting identification documents.

### Expected Fund Arrival Time
- **Instant**: E-wallet withdrawals are typically instant.
- **1-3 Days**: Bank transfers may take up to 3 business days.

### Typical Delay Reasons and Fixes
- **Incomplete KYC**: Ensure all KYC documents are up to date.
- **Technical Issues**: Contact customer support for assistance if delays occur.

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## FAQs – BluOr Bank Deposits & Withdrawals

### What is the minimum deposit for BluOr Bank?
The minimum deposit for BluOr Bank is €500 for Latvian residents and €1,000 for EU residents.

### How long do withdrawals take?
Withdrawals typically take 1-5 business days, depending on the method used.

### Are there fees for deposits or withdrawals?
Yes, fees may apply for certain deposit and withdrawal methods, especially for international transfers and ATM withdrawals.

### Can the same method be used for both?
Generally, the same method can be used for both deposits and withdrawals, but it may depend on the specific method and account type.

### Are crypto or local methods supported?
Yes, BluOr Bank supports cryptocurrency deposits and local cash deposits at select branches.

Disclaimer: This card is for informational purposes only and does not constitute investment advice. Always verify details with official disclosures and regulators.

BluOr Bank

BluOr Bank

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