Why is it important to have a bank account?

Having a bank account is also essential for online shopping. When making online purchases, e-stores often require you to select your bank from a list of popular banks in the country. Additionally, you can use your bank card to make payments at physical stores. The advantage of using a local bank account is that you avoid additional fees that may be charged when using a foreign card with a different currency than the euro.

Finally, having a local bank account gives you access to public services. For example, when connecting to the Electronic Government Gateway, which provides access to online public service portals. Eventually, having a local bank account ensures smoother transactions and security.

Tips for opening a bank account

To open a Lithuanian bank account, you should submit the following papers:

• an application form which is issued by the bank (each bank has its own forms)
• an identification document which must be valid (ID card or passport)
• residence permit in the case of foreign residents
• Documents proving the need for banking services in Lithuania (for example, official documents like work contracts)
• For Lithuanian bank accounts, foreigners need to present in person.

Typically, it takes about 5 business days to receive a bank card. You have the option to have the card delivered to your home address or to collect it from your nearby branch personally.

• Swedbank,
• SEB,
• Luminor,
• Lietuvos bankas,
• Revolut

For digital bank accounts

• Paysera
• Revolut

Find out more about opening a bank account in Lithuania