Open a Personal Euro Account with a European IBAN in Lithuania

We invite you to consider the opportunity to set up a euro account with a Lithuanian payment system. With this account, you will be able to make and accept payments in euros. Our experts will be happy to provide support to you in this matter. With our professional assistance, you will be able to open an account in Europe in a fast and easy manner. 

Advantages of having a personal account with the Lithuanian payment system

If you choose to make use of the opportunity that we are offering, you will appreciate the new possibilities that it can bring. The electronic payment system works in accordance with all the international regulations. It is licensed and supervised by the Central Bank of Lithuania.

In accordance with the rules, all clients’ money is deposited with the Central Bank of Lithuania as well as national and commercial banks of other EU member countries. The EMI license that the payment system holds allows it to operate in all EU countries.   

The Advantages of having a personal account in the EU are obvious:

• Loyalty to clients from all over the world;
• Professional administrators who understand the specifics of foreign clients;
• Multilingual support services;
• Opportunities to personalize service conditions;
• An account with a European IBAN (that begins with LT).
• Direct SEPA payments to and from the account;
• International SEPA payments are made without delays;
• An opportunity to have several IBAN accounts assigned to one person;
• Remote account control (spend around 5 minutes on authorization and you can manage your account online);
• All payments go through the Internet and the confirmation code is sent by SMS;
• A clear online registration procedure;
• Transparent fee system, no hidden charges.

Restricted countries

Persons eligible to apply for services to the Lithuanian payment system shall be 18 years of age or older. You have to submit your passport or any other equivalent document when applying. The Compliance Department may request additional documents. (You can find out what documents need to be supplied only when the application process has been started. Our experts will give you a hand.)

List of countries that the Lithuanian payment system does NOT cooperate with:

• Antigua and Barbuda;
• Bahamas;
• Barbados;
• Belize;
• Iran;
• Congo;
• Saint Vincent and the Grenadines;
• Saint Kitts and Nevis;
• Panama;
• Other non-cooperative countries from the OECD and FATF lists.
• Territories: Crimea, Lugansk and Donetsk People’s Republics. 

Payment system service conditions

Residents of foreign countries are welcome to set up accounts with the Lithuanian payment system from the comfort of their home. Please mind, however, that all payment system conduct due diligence checks these days when clients – domestic or foreign – apply for their services. The financial institutions do not provide services to sanctioned people and people from sanctioned countries.

Available currencies 

The payment system allows making payments in the SEPA zone and exclusively in euros. The US dollar and the Russian ruble will become available soon. 

Security balance requirements

There are neither security balance nor account turnover requirements. Please bear in mind, however, that large transactions will be closely monitored and you will be asked for payment confirmation. 

Payment system tariffs for residents and non-residence of the EAA

The fees and commissions that the payment system charges are quite modest in comparison to the fees and commissions that other similar financial institutions charge. European citizens and legal residents will find the most lucrative service conditions.

Service	Period	Residents of EAA	Non-residents of EAA
Account opening	One-time	€0	€0
Complex due diligence checks	One-time	€0	€10
Account maintenance fee	Monthly	€0	€15
Internal transaction	Per transaction	€0	€0
External transaction	Per transaction	€1	€3
SEPA transfer (In)	Per transaction	€0	€2
Euro transaction anywhere in the world (Out, SHA)	Per transaction	€5	€5
Euro transaction (In, SHA)	Per transaction	€5	€5
Currency exchange	Per transaction	0.5%	0.5%
Balance fee (up to 50,000 euros)	Daily	€0	€0
Balance fee ( from 50,000 to 1 mln euros)	Daily	0.55%/360	0.55%/360
Balance fee (over 1 mln euros)	Daily	0.7%/360	0.7%/360
Inactive account fee	Monthly	€10	€50
Account closure	One-time	€0	€50
Change of account holder’s data	On request	€0	€5
Account statement with manager’s signature	On request	€15	€20

Important: payment system tariffs may change. To find out the most recent tariffs, please write to info@offshore-pro.info.

How a foreign national can open a personal account in Europe

You can open a personal account with a European payment system remotely. The client identification procedure involves the use of a web-cam and you will have to supply an identification document. The identification procedure will not cause you any troubles if you prepare well enough. 

You will have clear instructions and our experts will gladly help you prepare for every step of the procedure. After you upload all the required documents to the payment system’s website, the Compliance Department is going to take some time to complete the due diligence checks. They may also request some additional documents. 

The procedure of setting up a personal account with a European payment system 

1. Place a request for our professional assistance in opening a personal account in Europe by writing to info@offshore-pro.info.
2. Complete a questionnaire to let us understand if the Lithuanian payment system is likely to provide services to you. Cover the cost of our services.
3. Register with the payment system following our recommendations and supply all the necessary documents to the Compliance Department.
4. When the due diligence checks are over, the account will be set up and you can start using it.