providing business accounts UAB Nandi Finance (Lithuania) is an electronic money institution authorized and regulated by the Bank of Lithuania. Nandi Finance is focused on providing business accounts. The company offers business IBAN accounts, personal IBAN accounts to individuals, companies. In 2023 UAB Nandi Finance total safeguarded customer funds were 4.07 mln EUR and revenue was 294,000.00 EUR.
WorldwideSpend time to grow your business leaving your business account worries to us
Personal IBAN account in your own name
Send and receive funds using your European IBAN credentials
Transfer euros to everyone around the EEA using the SEPA scheme
Competitive exchange rates in all major currencies
Operate worldwide with international transfers
Payment cards for businesses and individuals
Real person behind every process
Account opening no later than 48 hours after submission of full information
(*)as stated by the company itself
13 August 2024, by Anna Mileiko
TheBanks.eu has developed a proprietary methodology to assign ratings to payment institutions based on their operating environment, company background, business model, market niche, product range, transparency, customer support and customer sentiment. According to the methodology, UAB Nandi Finance is assigned the overall rating 3.06 (average) which is explained in details below.
| Operating Environment | Very Friendly | (4.96) |
| Product Range | Focused | (2.29) |
| Market Niche | Broad | (4.00) |
| Company Background | Poor | (2.48) |
| Customer Support | Average | (2.67) |
| Customer Sentiment | n/a | |
| Transparency | Average | (2.88) |
| Overall Rating | Average | (3.06) |
|---|
TheBanks.eu has also identified the following pros and cons of the company:
Personal Account is a single-currency account, allowing the account holder to have funds in EUR only.
EUR (Euro)Payment cards are not offered together with Personal Account.
Dedicated IBANs assigned to Personal Account belong to Lithuania.
Personal Account is offered to EEA residents, non-EEA residents.
Personal Account is offered with several pricing plans for different customer groups, namely Category 1, Category 2, Category 3.
Business Account is a single-currency account, allowing the account holder to have funds in EUR only.
EUR (Euro)Payment cards are not offered together with Business Account.
Dedicated IBANs assigned to Business Account belong to Lithuania.
Business Account is offered to EEA based, non-EEA based.
Business Account is offered with several pricing plans for different customer groups, namely Category 1, Category 2, Category 3.
Nandi Finance is neither registered with the Financial Crime Investigation Service (FCIS) as a virtual asset services provider, nor offers any crypto assets services. UAB Nandi Finance does not conducts any crypto-related activities.
The FCIS is responsible for supervision of the activities of Virtual currency exchange operators and (or) Depository virtual currency wallet operators related to the prevention of money laundering and/or terrorist financing.
UAB Nandi Finance is not registered with the FCIS as a virtual asset services provider.
Nandi Finance do not offer crypto assets services.
Nandi Finance do not conduct any crypto-related acitivities.
| thn EUR | 2022 | 2023 | change (%) |
|---|---|---|---|
| Customer Funds | 10,455.00 | 4,065.00 | -61.12% |
| Total Equity | 390.00 | 420.00 | +7.69% |
| Revenue | 324.00 | 294.00 | -9.26% |
According to the Electronic Money Directive of the European Union, an electronic money institution must safeguard customer funds in a separate account in a credit institution or invested in secure, liquid low-risk assets. Nandi Finance keeps its customer funds as follows:
| thn EUR | 2023 | share (%) |
|---|---|---|
| Customer Funds In Central Banks | 7,749.00 | 100.00% |
| Customer Funds In Credit Institutions | 0.00 | 0.00% |
| Customer Funds In Low-Risk Liquid Assets | 0.00 | 0.00% |
According to the Electronic Money Directive of the European Union, an electronic money institution must maintain a certain level of own funds which is calculated as a maximum of the initial capital required and 2.00 % of its customer's funds. Nandi Finance own funds adequacy calculation is shown below:
| thn EUR | |
|---|---|
| Initial Capital Requirement | 350.00 |
| Customer Funds | 4,065.00 |
| Customer Funds Requirement (2%) | 81.30 |
| Own Funds Requirement | 350.00 |
| Own Funds | 420.00 |
| Rank | Name | Market % | Customer Funds |
|---|---|---|---|
| 36 (+15) |  Clearshift, UAB | 0.21 % | 4.14 mln EUR (+427.81%) |
| 37 (-11) | UAB Nandi Finance | 0.21 % | 4.07 mln EUR (-61.12%) |
| 38 (-1) |  Corporate Services UAB | 0.20 % | 3.88 mln EUR (+18.43%) |
Lithuania
UAB Nandi Finance is authorized by the Bank of Lithuania as a e-money institution (authorization number LB001951) for issuance of electronic money, distribution and redemption of electronic money, execution of payment transactions on a payment account (not covered by a credit line), issuing payment instruments or acquiring payment transactions; the authorization was granted on 28 February 2020.
UAB Nandi Finance is not a bank, it can't collect deposits from public or loan out its clients’ money. Hence, it does not have to participate in deposit guarantee schemes. However, Nandi Finance is required to safeguard its customers’ money.
Due to EEA passport rules UAB Nandi Finance, can conduct its activities in any of the 30 EEA member states.
UAB Nandi Finance is a SWIFT member and a SEPA (SCT) scheme participant.
Tumėno str. 4 (7 floor), 01109, Vilnius, Lithuania
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