How to Open a Bank Account in Lithuania (2026)

Opening a bank account in Lithuania in 2026 is a structured process that combines modern digital convenience with strong regulatory safeguards. 

The Lithuanian financial system is fully integrated into the European Union, offering efficient, secure, and transparent banking options for both residents and international clients.

For individuals relocating to Lithuania or foreign investors establishing a company, a local bank account is essential. It enables access to payment systems, compliance with tax regulations, and seamless business operations.

Banking in Lithuania in 2026

In 2026, Lithuania continues to stand out as a regional financial center. The Bank of Lithuania, the country’s central financial authority, maintains strict supervision of both traditional banks and fintech institutions, ensuring compliance with EU standards for financial integrity and customer protection.

Lithuania’s membership in the European Economic Area (EEA) and its integration with the SEPA system enable fast, low-cost transactions throughout the EU. The widespread use of digital identity verification and electronic signatures allows many clients to open and manage accounts remotely.

The country hosts a competitive mix of major banks such as Swedbank, SEB, and Luminor, along with global fintech providers like Paysera, Revolut, and N26, making Lithuania one of the most fintech-friendly jurisdictions in Europe.

Types of Bank Accounts in Lithuania

Lithuanian banks and fintechs offer various account types designed to suit personal, business, and international needs. Understanding these categories helps you choose the right solution for your specific goals.

Personal Bank Accounts

Personal accounts are intended for everyday use – salary deposits, online shopping, bill payments, and savings. Account holders receive debit cards, access to mobile apps, and online banking in English and Lithuanian. Some institutions also offer multi-currency accounts or investment options.

Business Bank Accounts

Business accounts are mandatory for Lithuanian-registered companies. They allow businesses to conduct financial operations, pay employees, issue invoices, and meet tax obligations. Business accounts are also necessary for value-added tax (VAT) registration and for filing corporate reports with Lithuanian authorities.

LLT Accounts (Lithuanian IBAN Accounts)

An LLT account is a Lithuanian IBAN account that operates under the country’s international banking code. It is recognized throughout the European Economic Area, making it ideal for international entrepreneurs and digital businesses. LLT accounts are available through both banks and licensed fintech companies.

Digital and Fintech Accounts

Lithuania’s fintech sector is among the most dynamic in Europe. Digital institutions such as Paysera, Revolut, and Wise offer simplified onboarding, low transfer fees, and real-time online management. These platforms are particularly popular among non-residents who need fast, cross-border financial access.

Step-by-Step Guide: How to Open a Bank Account in Lithuania

Opening a bank account follows a standardized process that ensures both convenience and legal compliance.

Step 1: Choose the Right Bank or Fintech Platform

Select an institution based on your purpose, transaction volume, and preferred service model.

Traditional banks provide in-person assistance and corporate services, while fintechs offer flexible, digital-only banking solutions.

Step 2: Prepare the Required Documents

Applicants must prepare all verification materials before applying. Most banks and fintechs require:

• Identification (passport or ID card)
• Proof of residence
• Income documentation
• Company incorporation papers (for businesses)

Step 3: Submit the Application

Applications can be filed online or in person. Remote onboarding typically includes video verification and electronic signature submission.

Step 4: Account Activation

After KYC and AML checks are completed, the bank activates the account, granting full access to online banking and payment services.

Opening a Lithuanian Bank Account as a Non-Resident

Non-residents can open Lithuanian bank accounts for personal use, investment, or business purposes. The process involves enhanced due diligence, especially for clients outside the European Union.

Banks typically require documentation proving the source of funds and the purpose of transactions. Fintechs, by contrast, may offer simplified onboarding for personal or small-business accounts.

Remote account opening is possible through several fintechs that issue Lithuanian IBANs (LLT accounts). These institutions are fully licensed and supervised by the Bank of Lithuania, ensuring compliance and safety.

Lawhill assists non-residents by preparing all required documents, verifying company structures, and liaising with financial institutions to ensure smooth and compliant onboarding.

Business Bank Accounts in Lithuania

A business account is a fundamental element of corporate registration and operation in Lithuania. It serves as the official financial channel for all company-related activities, including payments, payroll, and tax obligations.

Requirements for Business Accounts

To open a corporate account, companies must provide:

• Articles of association or incorporation certificate
• Business registration certificate
• Tax identification number
• Details of directors, shareholders, and authorized representatives
• Proof of business activity or contracts confirming operations

Business accounts offer access to SEPA and SWIFT transfers, merchant services, and secure online banking tools. Some banks also provide integrations for accounting software and multi-user management for company directors.

Compliance checks are an essential part of the process, especially for foreign-owned entities. Legal representation through Lawhill ensures that company documents meet local standards and that account opening proceeds without unnecessary delays.

Best Banks and Fintech Platforms in Lithuania (2026)

Lithuania’s financial market combines traditional stability with technological innovation. Clients can choose between well-established banks and modern fintech providers that cater to international needs.

Institution	Type	Best For	Main Features
Swedbank	Traditional Bank	Local entrepreneurs and individuals	Full-service banking, wide branch network
SEB	Traditional Bank	Residents and expats	Reliable personal and business accounts
Luminor	Traditional Bank	Corporate clients	Multi-currency accounts, EU-wide services
Paysera	Fintech	SMEs and freelancers	LLT account, remote onboarding, low fees
Revolut	Fintech	Non-residents and travelers	Fast setup, modern app-based management

Each institution offers strong online banking tools and complies with EU financial regulations, providing high levels of security and convenience for domestic and international clients.

Common Problems When Opening a Bank Account in Lithuania

Although Lithuania’s banking system is efficient, some clients may encounter challenges during the account opening process.

Typical issues include:

1. Incomplete Documentation: Missing or improperly translated documents are one of the most common reasons for delays.
2. Non-Resident Verification: Banks may request additional proof of income or source of funds for clients outside the EU.
3. Compliance and AML Reviews: Applications may be held for extended due diligence if the client’s background or business activity is complex.
4. Restricted Business Activities: Some industries, such as crypto or gambling, are subject to tighter scrutiny.
5. Communication Barriers: Although many banks offer English support, local assistance ensures smoother communication.
6. Inconsistent Company Information: For business accounts, discrepancies in company documents can result in rejection.

Working with an experienced legal firm like Lawhill minimizes these issues by ensuring documentation accuracy, compliance readiness, and proper communication with banking institutions.

Lithuania’s Banking Regulations and Security Standards

Lithuania’s banking framework is among the most secure and transparent in the European Union. 

All banks and fintech companies are licensed and supervised by the Bank of Lithuania, which enforces European Central Bank (ECB) directives and EU regulations.

Regulatory Compliance

Financial institutions must adhere to:

• Anti-Money Laundering (AML) Regulations – To prevent financial crime and ensure traceable transactions.
• Know Your Customer (KYC) Requirements – To verify client identity and business legitimacy.
• Payment Services Directive (PSD2) – To promote secure and innovative online banking across the EU.

Data Protection and Security

Lithuania enforces strict data protection laws aligned with the General Data Protection Regulation (GDPR), ensuring clients’ personal and financial data remain secure. Advanced cybersecurity systems and multi-factor authentication methods protect all online transactions.

Bank of Lithuania’s Oversight

The central authority actively monitors financial stability, risk management, and consumer protection. Its transparent supervision has positioned Lithuania as a trusted and innovative banking jurisdiction within Europe.

Conclusion

Opening a bank account in Lithuania in 2026 gives individuals and businesses access to a safe, digital, and EU-integrated financial environment. With a robust regulatory system and a rapidly evolving fintech ecosystem, Lithuania remains one of the best destinations for international banking and corporate finance.

Lawhill provides comprehensive legal assistance, guiding you through every stage of account opening, compliance, and company formation – ensuring a seamless and fully lawful experience in Lithuania’s modern financial landscape.