FAQ

Question
CENTROlink
	Features of direct participation
	What is the difference between direct participation in a payment system and participation through the addressable BIC model?
	Is our EMI or PI a direct participant in the CENTROlink payment system?
	Our institution is satisfied with the status of an addressable BIC holder. Are we required to become a direct participant?
	If we make few payments, do we need direct participation?
	Is it possible to participate in the CENTROlink payment system indirectly?
	Preparation of EMIs and PIs licensed in Lithuania for direct participation
	When will the provisions of SFD and PSD2 be transposed into Lithuanian law?
	When will all the documents, forms to be completed, etc. be approved?
	What legislation governs the direct participation of EMIs and PIs in payment systems?
	What requirements must EMIs and PIs licensed in Lithuania seeking direct participation in the CENTROlink payment system fulfil to demonstrate compliance with Article 35a of the PSD2?
	On what basis were the migration windows defined?
	When will the information about the migration windows be made available?
	What steps should we take during the designated migration window?
	Can you move the designated migration window forward or postpone it?
	Guidelines for completing the compliance report form
	Preparation for direct participation by EMIs and PIs licensed both within and outside Lithuania
	What changes will take effect from 9 April 2025?
	We have recently submitted a completed CENTROlink due diligence/know your customer (KYC) questionnaire. Will we need to submit a new one in preparation for direct participation?
	The SFD and PSD2 have not yet been transposed in our national law. How does this align with the established agenda?
	Will the transition to the direct participation model require new technical integration?
	How will the technical process of connecting to the CENTROlink payment system evolve?
	When will the liquidity management tool be improved?
	What happens if we are not ready for direct participation by 9 April 2025?
	We have contacted the licensing authority but have not received a response regarding the transposition of the directives. What should our next step be?
	The CENTROlink payment system has so far provided customer funds safeguarding account services. How will customer funds be safeguarded after 9 April 2025?
	Currently, liquidity adjustment between SCT and SCT Inst accounts is available only until 6 p.m. (EET). At what point can an extension of this timeframe be expected?
	TARGET
	Will direct participants in the CENTROlink payment system be able to participate in the TARGET system?
	We intend to continue using CENTROlink payment system services but we do not require access to the TARGET system. Is this type of participation possible?
	Development of the system during the migration period
	We would like to become participants in the CENTROlink payment system. Do we need to wait for the completion of the migration process?
	We would like to join the additional SEPA scheme. Do we need to wait for the completion of the migration process?
	Key dates
	Until when will the CENTROlink payment system provide customer funds safeguarding account services?
	Until when can an unlimited amount of customer funds be held in the CENTROlink payment system?
	When must requests for direct participation, including additional documentation, be submitted to the CENTROlink payment system?
	How long will the assessment of the request for direct participation take?
	When is the direct participant agreement expected to be signed?
	When are the technical changes related to the migration process expected to be completed?
	When is the migration process expected to be completed?
	Participation of EMIs and PIs licensed in the United Kingdom in the CENTROlink payment system
	We are an EMI or PI licensed in the United Kingdom. What are the options for us to continue using CENTROlink payment system services?
	Other
	What regulations will govern relationship between participants in the system and the CENTROlink payment system?