Founded in 2016, ibsettle (UAB IBS Lithuania) helps innovative companies integrate financial services into their applications and automate payment transactions.Services offered by ibsettle are designed for flexibility and include a range of business accounts, SEPA, and international payments in different currencies. They are available through digital interfaces such as advanced online banking and B2B APIs for efficient business transactions.
UAB SatchelPay (Lithuania) is an electronic money institution authorized and regulated by the Bank of Lithuania. Satchel is focused on facilitating global payment transactions. The company offers virtual personal IBAN accounts, virtual business IBAN accounts, merchant accounts with IBAN, physical prepaid cards, virtual prepaid cards, currency exchange, international payments, software development, white-label solutions, white-label card issuing to private individuals, international businesses, financial institutions, online merchants, legal entities, entrepreneurs. In 2023 UAB SatchelPay total safeguarded customer funds were 32.62 mln EUR and revenue was 2.91 mln EUR. Satchel is ranked #2 EMI in Europe. UAB SatchelPay is doing business as Satchel.
Personal Account is a multi-currency account, allowing the account holder to have funds in the following currencies: AED, AUD, BGN, CAD, CHF, CZK, DKK, EUR, GBP, HKD, HRK, HUF, JPY, NOK, NZD, PLN, RON, SEK, SGD, USD, THB, TRY, ZAR.
Personal Current Account is a multi-currency account, allowing the account holder to have funds in the following currencies: EUR, GBP, CHF, AED, AUD, BGN, CZK, DKK, HKD, HRK, HUF, ILS, JPY, NZD, PLN, SEK, SGD, TRY, THB, NOK, ZAR, USD, CAD.
Payment Cards
Payment cards are not offered together with Personal Account.
Satchel Personal Card (MasterCard) can be ordered together with Personal Current Account.
International Transfers
SWIFT Transfers
SEPA Credit Transfers
SWIFT Transfers
SEPA Credit Transfers
SEPA Instant Transfers
IBAN Countries
Dedicated IBANs assigned to Personal Account belong to Lithuania.
Dedicated IBANs assigned to Personal Current Account belong to Lithuania.
Pricing Plans
Personal Account is offered with several pricing plans for different customer groups, namely EEA, non-EEA.
Business Account is a multi-currency account, allowing the account holder to have funds in the following currencies: AED, AUD, BGN, CAD, CHF, CZK, DKK, EUR, GBP, HKD, HRK, HUF, JPY, NOK, NZD, PLN, RON, SEK, SGD, USD, THB, TRY, ZAR.
Business Current Account is a multi-currency account, allowing the account holder to have funds in the following currencies: EUR, GBP, CHF, AED, AUD, BGN, CZK, DKK, HKD, HRK, HUF, ILS, JPY, NZD, PLN, SEK, SGD, TRY, THB, NOK, ZAR, USD, CAD.
Payment Cards
Payment cards are not offered together with Business Account.
Satchel Business Card (MasterCard) can be ordered together with Business Current Account.
International Transfers
SWIFT Transfers
SEPA Credit Transfers
SWIFT Transfers
SEPA Credit Transfers
SEPA Instant Transfers
IBAN Countries
Dedicated IBANs assigned to Business Account belong to Lithuania.
Dedicated IBANs assigned to Business Current Account belong to Lithuania.
Pricing Plans
Business Account is offered with several pricing plans for different customer groups, namely LT, EEA, International, Compliance Intensive.
LT Companies that are based in Lithuania and whose business activity is non-compliance intensive.
EEA Companies that are EEA-based and whose business activity is non-compliance intensive.
International Companies that are not EEA-based and whose business activity is non-compliance intensive.
Compliance Intensive Compliance intensive businesses are companies that require relatively more time and effort to assess and manage compliance risk on an ongoing basis (despite the location). Compliance intensive business activities include payment service providers, money service business operators, high-value dealers, independent legal professionals, lotteries, gaming, notary services, online gambling, pharmaceuticals, public procurement, real estate investment, tax advisors, etc.
Business Current Account is offered with several pricing plans for different customer groups, namely EU, non-EU.
EU Companies registered in the EU and EEA and only those companies where each of company’s directors, shareholders and ultimate beneficial owners (UBO) are citizens and residents of the EU or EEA. After Brexit EU pricing plan is still applicable to customers from the United Kindom.
•Proof of Identify. Copies of passports of all ultimate beneficial owners and representative are required.
•Proof of Address. Utility bills or bank statements of all ultimate beneficial owners and representative are required.
•Corporate Documents. IBS Lithuania requires trade register reference,certificate of incorporation, corporate bank statement, organizational chart showingultimate beneficial owners.
•After completing the registration form, IBS Lithuania team will review theregistration form and will send an email to the indicated email addresswith the invitation to the video call in order verify customer's identity.
•Proof of Address. These documents are accepted as a proof of address: utility bill, bank reference, bank statement.
•Company Details. Satchel requires a detailed business description including source of funds, website, incoming and outgoing transfers, involved countries.
•Corporate Documents include certificate of incorporation, memorandum and articles of association; appointment of directors and shareholders; certificate of good standing (for companies older than 1 year).
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