The Central Bank of Lithuania (hereinafter - the Bank of Lithuania) provides technical access for all payment service providers, enabling them to send and receive SEPA payments.
CENTROlink is a payment system operated by the Bank of Lithuania, providing the gateway to the Single Euro Payments Area (SEPA). Via its infrastructure, the Bank of Lithuania provides technical access to SEPA for all types of payment service providers – banks, credit unions, e-money or payment institutions – licensed in the European Economic Area (EEA).
I. Benefits of participating in the system
- Level playing field. From a technological standpoint, non-bank institutions are given the possibility to make payments under the same terms as banks or credit unions.
- Zero credit risk. Payments are made via an account held at the central bank.
- IBAN and SWIFT BIC codes. The Bank of Lithuania assigns a unique 5-digit financial institution code to the payment service provider. The code is used to generate unique IBAN account numbers for the payment service provider itself and its clients. A licensed payment service provider that has established a legal entity in Lithuania receives a SWIFT BIC code with a Lithuanian country code, which allows global identification of the financial institution. Within the system, payment service providers licensed in other countries may use SWIFT BIC and IBAN codes issued in their home countries.
- Access to European payment systems. CENTROlink is connected to STEP2 and RT1 European payment infrastructures. It is foreseen to connect to the Eurosystem’s TIPS to increase pan-European reachability of instant payments. The payment service provider who has a single access point to CENTROlink benefits from all system connections without any additional investments.
- SEPA service package. This is the only system in the region that offers a full range of SEPA services: credit transfers (SCT), direct debit (SDD), and instant payments (SCT Inst).
- Dual infrastructure. The system has a dual infrastructure that ensures business continuity of the system.
- Flexible connectivity option. The system also offers flexible and secured internet access to payment service providers.
- Convenient pricing. The Bank of Lithuania applies fees for transactions only. There are no fixed fees.
- Speed. Average time of integration with CENTROlink does not exceed 3 months.
- Favourable conditions. Licencing and supervision conditions offered by the Bank of Lithuania are among the best in the European Economic Area. More information is available here.
II. About CENTROlink
CENTROlink is a payment system, developed and operated by the Bank of Lithuania, which allows customers of financial institutions to execute euro payments across SEPA. CENTROlink was launched on 8 December 2015, while it's roots come from the start of 2004 as a local currency payment system. CENTROlink participants can offer their clients SEPA credit payments (SCT), direct debit (SDD) and instant payments (SCT Inst). More information on how CENTROlink operates, acceptance of system participants, their rights and obligations, payment orders processing procedure as well as risk management is available in the Rules of Operation of CENTROlink (782.8 KB ).
Payment system providers who wish to get access to CENTROlink are provided with the CENTROlink technical documentation after having signed a non-disclosure agreement.
III. How to get access
With the help of our experts or external service providers, you will:
- introduce yourself and present your ongoing or future activities;
- having signed a non-disclosure agreement, receive technical documentation outlining the principles of operation of the system;
- submit an application to get access to CENTROlink;
- get a unique financial institution code necessary to generate IBAN accounts;
- receive a SWIFT BIC code from SWIFT;
- become a certification system participant;
- prepare your system for interaction with CENTROlink;
- pass internal CENTROlink tests and external tests with STEP2 (RT1) participant;
- sign cooperation agreement with the Bank of Lithuania;
- register with STEP2 (RT1) and the European Payments Council.
IV. Service fees
SEPA credit transfer (SCT) service fees:
- for each SCT payment (up to the first million) submitted and executed – EUR 0.03;
- for each SCT payment (exceeding the first million) submitted and executed– EUR 0.01;
- for each SCT payment received and executed – EUR 0.01.
SEPA instant payment (SCT Inst) service fees:
- for each SCT Inst payment (up to the first million) submitted and executed – EUR 0.03;
- for each SCT Inst payment (exceeding the first million) submitted and executed – EUR 0.01;
- for each SCT Inst payment received and executed – EUR 0.01.
SEPA direct debit (SDD) service fees:
- for each SDD instruction (up to the first million) submitted and executed – EUR 0.05;
- for each SDD instruction (exceeding the first million) submitted and executed – EUR 0.03;
- for each SDD instruction received and executed – EUR 0.02.
Payment orders are calculated starting with ‘one’ at the start of each calendar year.
No entry, regular or other additional service fees are applied.
V. Contact us
Phone: +370 616 88 494
Email: [email protected]