Menu
Expat.com

Opening a bank account in Lithuania

Last activity 03 October 2015 by UMOEKPO

Post new topic

Julien

Hi all,

is it difficult for expats to open a bank account in Lithuania ?

Which documents are required to open a bank account in Lithuania ?

How long does it take to open it ?

Is there any restriction for expats regarding the services (loans for instance)  ?

Which bank would you recommend ?

Thanks in advance for your participation,

Julien

smferguson

In my experience opening a bank account in Lithuania is very difficult. I am the wife of an ex-pat who is paid in euros to an offshore account, and I have an independent income from companies I own in the UK. I want to bring into Lithuania enough sterling/euros to cover our everyday expenses, but as the Litar is such a poor currency none of the offshore foreign exchange bureaux are interested in this business. Various banks here have told me that I would only be able to get an account (and a very limited one, at that, with no ATM or direct debit facilities which I need for car lease) if I were to provide a reference from my employer with documentary evidence that I am resident in Lithuania, working in Lithuania, and having ALL my salary paid into the Lithuanian bank account. I have provided banking references from THREE UK banks, but this is not enough. I'm still trying, and welcome any positive news from other ex-pats.

reu8t

I have two bank accounts here, had no problem opening either one, everything was easy enough.  Try SEB in Vilnius- (outside Vilnius you may have some troubles with English)  I was surprised to read the previous response, as I simply had no troubles at all.  My only problem was with USA banks, because I cannot make international transfers online from a USA bank, but I can from my Lithuanian banks.  I find banking here pretty easy, except they charge you for every little thing you can think of.  They even charge you for doing you the favor of returning your money to you.  oh well....  Banks are banks.  Thieves all.

reu8t

in answer to specific questions- the first account I opened with just my passport.  The second I opened when I had a residency card.  Note I opened one about 10 years back, the other about 5 years ago.  Perhaps they have made things tougher.

It took about 30 minutes to open the account, and about 30 minutes waiting.  That's one irritating thing here... waiting- waiting- everywhere.  The banks and grocery stores here, were they to operate with the same level of service in the USA, would be closed in less than two months, I imagine. 

For foreign banks, try SEB, or DNB Nord,

I dont know about loans.  But I have expat friends here who got house loans to build new houses... so-  also you can get credit cards and bank cards, which I would highly recommend getting at least a cash card.

UMOEKPO

Ar there any Lithuanian Banks that can open an account for you through post and offers a Lithuanian Certificate of Deposit that offers up 35% annual return? If so, please let me know which bank with contact details.

Thx,
Joseph
***

Moderated by Bhavna 9 years ago
Reason : Please avoid posting your contact details on the forum.
We invite you to read the forum code of conduct

Articles to help you in your expat project in Lithuania

  • Opening bank account
    Opening bank account

    Opening bank account is not very hard thing in Lithuania. As in other countries you simply need to get to closest ...

  • Driving in Lithuania
    Driving in Lithuania

    In order to get a driver's license in Lithuania, the first thing to do is contacting one of the numerous ...

  • Public transportation in Lithuania
    Public transportation in Lithuania

    You can find train and bus networks connecting almost all living places from the smallest to the biggest in ...

  • Accomodation
    Accomodation

    Living in Lithuania has one main principle: here are 4 very different seasons. Winter can be very cold and summer ...

  • Become a digital nomad in Lithuania
    Become a digital nomad in Lithuania

    Lithuania is often called “the land of wood and water” for its many forests and lakes and the ...

All of Lithuania's guide articles