Opening an account

It is the first step to successful cooperation. With an account at Swedbank you will:

  • keep your money safe;
  • handle your daily finances conveniently.

You will be able to manage your account the way you find it convenient – via Swedbank’s internet bank, by use of the Notification Centre and payment cards. One account – numerous ways to access it!

  • You can keep money in your account in any currency operated by the bank;
  • You can top up your bank account any time and with any amount as well as receive money in cash at any Swedbank’s ATM or customer service office;
  • You can conclude an agreement on operating accounts via Swedbank’s electronic banking, by use of the Notification Centre – and manage your personal, your family or several persons’ finances in a simple and convenient way;
  • You can pay your bills by order and save because payment orders within the bank are always cheaper, and Swedbank has the highest number of bank accounts held by natural and legal persons;
  • You can acquire different types of payment cards for a bank account and get credit limit;
  • You can learn the balance of your bank account at an ATM, via Swedbank’s internet bank, using Account Balance by Phone service or the services of the Notification Centre;
  • Once you open a deposit account, you will be able to transfer free funds from your bank account to the deposit account – it is a convenient way to safe or receive higher interest rate for the funds you don’t use.

To open a bank account you have to come to any Swedbank’s customer service office and sign a bank account agreement.  

All natural persons, citizens of the Republic of Lithuania, foreign citizens and persons without a citizenship can open a bank account, if they present any of the below listed documents to prove their identity:

  • Passport;
  • ID of a citizen of the Republic of Lithuania;
  • Temporary (permanent) residence permit in the Republic of Lithuania;
  • ID of a citizen of the European Union;
  • Passport of a foreign citizen.

If an account is opened for a minor under the age of 18, the minor’s birth certificate or an extract from birth certificate shall be presented.

If you want to open an account on behalf of another person, an authorisation (power of attorney) certified by a notary public must be provided.

Recommended/sample forms of authorisation for concluding a bank account agreement, an electronic service agreement, or information on how to manage funds in an account can be found under the heading Useful Information.

To open a bank account you will have to submit a Declaration of the Natural Person or a Declaration of the Natural Person (English) or a Declaration of the Natural Person (Russian)  in a form acceptable to (approved by) the bank.

If you think that the bank’s request to complete a Declaration of the Natural Person is unreasonable, please be kind to learn some more details about the implementation of the principle Know Your Customer (KYC).

It should be noted that before opening an account, taking into consideration the risk-based assessment and seeking to duly implement the Know Your Customer principle with regard to the client, the Bank may ask the potential client to submit other (than the above mentioned) additional documents and/or additional written explanations.

No initial contribution is required to open a bank account. You can have an unlimited number of accounts with the bank. If you required, the agreement can be terminated and the money in the account can be collected (withdrawn) at any time.

In accordance with the Republic of Lithuania Law on Insurance of Deposits and Liabilities to Investors, all deposits held at the bank are insured by the State Enterprise Deposit and Investment Insurance (Lithuanian VĮ Indėlių ir investicijų draudimas).

Account switching service is a service provided to a customer, where the customer’s payment account as well as all related services, such as periodical payments, etc. is/are transferred from one payment service provider to another.

  • What services may be transferred from another payment service provider?

    • Periodical payments (the bank, at your request, will transfer periodical payment agreements concluded with the previous payment service provider).
    • The balance in the account (the old payment service provider will, at your request, transfer the balance in your account with the old payment service provider to the account opened with the new payment service provider’s bank).

    You will also be able to receive information about the following:

    • Agreements on automatic payment of e-invoices and requests/applications to receive e-invoices (the old payment service provider will provide the bank with information about agreements signed with you on automatic payment of e-invoices and requests to receive e-invoices).
    • Periodic income (at your request, the bank may provide a list or payers that periodically transfer money to you and/or may notify the payers about the change in the account or provide you with a sample application form for notification of the third parties about changes in the account).
    • SEPA direct debit (in case where the service is provided in the bank, the bank, at your request, may be provide a list of SEPA direct debit recipients and/or notify the beneficiaries about the change in the account or provide you with a sample application form for notification of the third parties of the changes in the account).
  • Would you like to transfer services from another payment service provider?

    • The Bank will help you carry out the procedure of account transfer. This procedure will be provided free of charge.
    • Visit any Swedbank customer service office and complete an application form requesting to provide you with an account transfer services. If you wish to transfer an account of joint owners from another payment service provider, the bank must be provided with a request from each joint owner to transfer the account from another payment service provider
  • How long will it take to transfer services from another payment service provider?

    Services will be transferred no earlier than within 13 bank business days from your request to provide you with an account transfer services, i.e.:

    • The Bank will forward your request to transfer the account to the old payment service provider within 2 bank business days.
    • The old payment service provider will no later than within 5 business days from the receipt of the aforementioned request notify the bank about the services it renders to you and the services that might be transferred, it will terminate the provision of services from the date specified in the request, will transfer the balance and close the account, if it is provided in your request.
    • Having received information from the old payment service provider, the Bank will, within 5 bank business days or from the date specified in your request start providing the transferred services, will send off letters to payers and/or beneficiaries, if this is specified in your request.

    Please be aware that the Bank will charge a fee specified in the Bank’s price list for services and transactions for sending notifications to payers and/or beneficiaries by registered mail (if indicated in your request). You can find the fees charged for banking services and transactions here.

  • What payment service providers participate in the provision of the account switching?

    The list of payment service providers that participates in the provision of the account switching is available on the website of the Association of Lithuanian Banks.

    The rules for the account switching services between payment service providers are available on the website of the Association of Lithuanian Banks.

  • Where to lodge a claim?

    It is important that you know that you can lodge a claim regarding the Bank’s actions when providing you with the account transfer services. If you are discontent with the Bank’s response, you have the right to address the court in accordance with the procedure established in laws as well as to apply to the institution that examines consumers and finance market participants’ disputes out of court, namely, the Bank of Lithuania, address Žirmūnų g. 151, LT-09128 Vilnius, within 1 (one) year from the date of address to the Bank. For more details in relation to the settlement of disputes of consumers and finance market participants, visit the website of the Bank of Lithuania www.lb.lt.

Recently Lithuania’s people have received e-mails the author of which, for different reasons, asked them to open a bank account in Lithuania with an active electronic operating programme so as to use this account for money transfers to foreign banks. The sender of the e-mail promised to leave a certain amount of money in the account in exchange for such a favour.

If you receive such an e-mail, in no way do what you are requested for. By providing a stranger with an access to your account, you will enable such a person to use your personal details and your account.

If you suspect that you have disclosed secret information to unauthorised/wrong persons or someone attempted to receive this information from you, please report to the bank immediately by phone 1884 or contact us by e-mail.

For more on such cases read on the website http://www.policija.lt/.

All deposits of less than EUR 100,000 or of equivalent amount held in a foreign currency are insured by the SE Deposit and Investment Insurance under the terms and conditions set forth in the Law on Deposits and Liabilities to Investors. Read more here.
Detailed information on the terms and conditions of deposit insurance and cases when deposits are not insured and when limits on payment of insurance benefits are applied to deposits is provided on the website of the SE Deposit and Investment Insurance www.iidraudimas.lt.

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