UAB IBS Lithuania

UAB IBS Lithuania Logo
Trustpilot Rating
Reviews 1 | Average
 (3.7)
Business Focus
digital banking services between Europe and China

UAB IBS Lithuania is an electronic money institution focused on digital banking services between Europe and China. UAB IBS Lithuania offers virtual personal IBAN accounts, virtual business IBAN accounts, merchant accounts with IBAN, physical prepaid cards (coming soon), virtual prepaid cards (coming soon), SEPA transfers, SWIFT transfers, international payments, currency exchange, customer payments processing, Alipay, WeChat Pay and UnionPay international acquiring solutions to private individuals, international businesses, financial institutions, merchants. In 2019 UAB IBS Lithuania had total customer funds to be safeguarded of 3.08 mln EUR, UAB IBS Lithuania generated gross profit of 224,000.00 EUR. Incorporated in Lithuania, UAB IBS Lithuania is authorized and regulated by the Bank of Lithuania.

Products
Services
  • SEPA transfers
  • SWIFT transfers
  • international payments
  • currency exchange
  • customer payments processing
  • Alipay, WeChat Pay and UnionPay international acquiring solutions
Clients
  • private individuals
  • international businesses
  • financial institutions
  • merchants

Personal Current Account

Currency
EUR, USD, GBP
and 26 more
Payment Cards
physical
virtual
Personal IBAN
available (LT IBAN)
UK Account Number
not available
Customer Groups
EU residents
non-EU residents
Pricing Plans
EU
non-EU
Currency

Personal Current Account is a multi-currency account, allowing the account holder to have funds in EUR, USD, GBP, HKD, CNY, RUB, DKK, PLN, CZK, NOK, SEK, AUD, CHF, JPY, AED, CAD, HUF, RON, BGN, TRY, KZT, NZD, INR, ILS, MXN, ZAR, SGD, BYN, THB.

Payment Cards

IBS Personal Card (MasterCard) can be ordered together with Personal Current Account. Virtual cards are not available.

International Transfers

  • SWIFT Transfers
  • SEPA Credit Transfers

Personal IBAN

  • available for verified customers
  • appears automatically for EUR balances

IBAN Countries

Personal IBANs assigned to Personal Current Account belong to Lithuania.

Personal IBAN vs EMI Banking Details
While IBS Lithuania uses an account holder's personal IBAN for some operations, IBS Lithuania's own banking details are used for the others.

Personal IBAN Operations

  • sending EUR to a SEPA country
  • receiving EUR from a SEPA country

EMI Banking Details Operations

  • receiving SWIFT transfers
  • sending SWIFT transfers
  • other transfers

Pricing Plans

Personal Current Account is offered with several pricing plans for different customer groups, namely EU, non-EU.

  • EU
  • offered to: EU residents
  • Initial Fee 0.00 EUR
  • Monthly Fee 5.00 EUR
  • Closing Fee 0.00 EUR
  • SEPA Outgoing 1.00 EUR
  • SEPA Incoming 0.00 EUR
  • SWIFT Outgoing 30.00 EUR
  • SWIFT Incoming 5.00 EUR
  • Open Account
  • non-EU
  • offered to: non-EU residents
  • Initial Fee 50.00 EUR
  • Monthly Fee 30.00 EUR
  • Closing Fee 0.00 EUR
  • SEPA Outgoing 5.00 EUR
  • SEPA Incoming 2.00 EUR
  • SWIFT Outgoing 50.00 EUR
  • SWIFT Incoming 10.00 EUR
  • Open Account

Opening Personal Account

Opening Personal Account
1.
Provide your details online
2.
Upload your proof of address
3.
Upload your proof of identity
4.
Pass video authentication
5.
Account is ready to use in a few minutes



Proof of Address. These documents are accepted as a proof of address: utility bill, bank statement.
Proof of Identity. IBS Lithuania accepts copies of passports; however for Chinese residents both copies of ID Card and Passport are mandatory.
After completing the registration form, IBS Lithuania team will review the registration form and will send an email to the indicated email address with the invitation to the video call in order verify customer's identity.

See Also

Business Current Account

Business Current Account
Currency
EUR, USD, GBP
and 26 more
Payment Cards
physical
virtual
Personal IBAN
available (LT IBAN)
Customer Groups
EU based
non-EU based
high risk, worldwide
Pricing Plans
EU
non-EU
Compliance Intensive
Currency

Business Current Account is a multi-currency account, allowing the account holder to have funds in EUR, USD, GBP, HKD, CNY, RUB, DKK, PLN, CZK, NOK, SEK, AUD, CHF, JPY, AED, CAD, HUF, RON, BGN, TRY, KZT, NZD, INR, ILS, MXN, ZAR, SGD, BYN, THB.

Payment Cards

IBS Personal Card (MasterCard) can be ordered together with Business Current Account. Virtual cards are not available.

International Transfers

  • SWIFT Transfers
  • SEPA Credit Transfers

Personal IBAN

  • available for verified customers
  • appears automatically for EUR balances

IBAN Countries

Personal IBANs assigned to Business Current Account belong to Lithuania.

Personal IBAN vs EMI Banking Details
While IBS Lithuania uses an account holder's personal IBAN for some operations, IBS Lithuania's own banking details are used for the others.

Personal IBAN Operations

  • sending EUR to a SEPA country
  • receiving EUR from a SEPA country

EMI Banking Details Operations

  • receiving SWIFT transfers
  • sending SWIFT transfers
  • other transfers

Pricing Plans

Business Current Account is offered with several pricing plans for different customer groups, namely EU, non-EU, Compliance Intensive.

  • EU
  • offered to: EU based
  • Initial Fee 50.00 EUR
  • Monthly Fee 10.00 EUR
  • Closing Fee 0.00 EUR
  • SEPA Outgoing 2.00 EUR
  • SEPA Incoming 1.00 EUR
  • SWIFT Outgoing 30.00 EUR
  • SWIFT Incoming 10.00 EUR
  • Open Account
  • non-EU
  • offered to: non-EU based
  • Initial Fee 200.00 EUR
  • Monthly Fee 50.00 EUR
  • Closing Fee 0.00 EUR
  • SEPA Outgoing 5.00 EUR
  • SEPA Incoming 3.00 EUR
  • SWIFT Outgoing 50.00 EUR
  • SWIFT Incoming 15.00 EUR
  • Open Account
  • Compliance Intensive
  • offered to: high risk, worldwide
  • Initial Fee 500.00 EUR
  • Monthly Fee 200.00 EUR
  • Closing Fee 0.00 EUR
  • SEPA Outgoing 5.00 EUR
  • SEPA Incoming 5.00 EUR
  • SWIFT Outgoing 50.00 EUR
  • SWIFT Incoming 30.00 EUR
  • Open Account

Opening Business Account

Opening Business Account
1.
Provide your details online
2.
Upload your corporate KYC document package
3.
Upload your proof of address
4.
Upload your proof of identity
5.
Pass video authentication
6.
Account is ready to use in up to 3 business days



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 showing ultimate beneficial owners.
After completing the registration form, IBS Lithuania team will review the registration form and will send an email to the indicated email address with the invitation to the video call in order verify customer's identity.

See Also

Operations with Cryptocurrencies

No

IBS Lithuania do not conduct operations with cryptocurrencies.

Crypto-Related Activities

  • Accounts for crypto businesses
  • Transfers to crypto platforms
  • Transfers from crypto platforms

IBS Lithuania allows crypto-related businesses to open accounts as well as supports in general transfers to and from crypto platforms.

See Also

Financial Highlights

Customer Funds (2019)
3.08 mln EUR  (+762.46%)
Gross Profit (2019)
224,000.00 EUR  (+2,700.00%)
Total Equity (2019)
916,000.00 EUR  (-33.04%)

Company Details

Country of Registration
LTLithuania
Company Number
304310405
BIC
IBIULT21
Authorized By
Bank of Lithuania
Authorization Number
LB000404
Authorization Granted
29 March 2017
Authorized Activities
  • placing cash to a payment account
  • withdrawing cash from a payment account
  • execution of payment transactions on a payment account (not covered by a credit line)
  • issuing payment instruments or acquiring payment transactions
  • money remittance

UAB IBS Lithuania is authorized by the Bank of Lithuania (authorization number LB000404) for placing cash to a payment account, withdrawing cash from a payment account, execution of payment transactions on a payment account (not covered by a credit line), issuing payment instruments or acquiring payment transactions, money remittance. The authorization was granted on 29 March 2017.

EEA Passport
Yes
Deposit Guarantee
No

Due to EEA passport rules UAB IBS Lithuania, can conduct its activities in any of the 31 EEA member states. UAB IBS Lithuania do not participate in deposit guarantee schemes.

Membership
SWIFT
SEPA

UAB IBS Lithuania is a SWIFT member and a SEPA (SCT) scheme participant.

See Also

Contacts

Sporto str. 18, 09238, Vilnius, Lithuania
+370 (520) 58 111
Website Languages
GBEnglish

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