Important Information for Magnetiq Bank Term Deposit Clients

In line with its business strategy, Magnetiq Bank continues its focused transition to developing digital financial solutions, strengthening its position in the fintech sector, and reorienting its services towards business clients.

As a result of these changes, the Bank is gradually discontinuing services that do not align with the new strategic direction. Therefore, as of 3 November 2025, term deposits will no longer be offered to private individuals.

Guidance for clients with a term deposit at Magnetiq Bank

If your term deposit has already matured or is about to mature:

• Your funds will be paid out in accordance with the terms of the agreement to your Magnetiq Bank current account.
• After the payout, we kindly invite you to transfer the funds to an account at another bank and submit a request to close your account via internet banking or, if more convenient, by visiting our branch at 54 Brīvības Street, Riga. Please call +371 67772999 to schedule your visit in advance.

If your term deposit agreement is still valid:

• Existing agreements will remain in force until the agreed maturity date and will not be terminated prematurely.
• After maturity, term deposits cannot be extended or renewed. The funds will be paid out in accordance with the terms of the agreement to your Magnetiq Bank current account.
• After the payout, we kindly invite you to transfer the funds to an account at another bank and submit a request to close your account via internet banking or at our branch at 54 Brīvības Street, Riga. Please call +371 67772999 to schedule your visit in advance.

We sincerely thank all clients who have chosen Magnetiq Bank’s term deposit services to date.