Information for Ukrainian citizens about financial services in Lithuania

Last update: 10 October 2022

Opening accounts for Ukrainian citizens

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Where in Lithuania can Ukrainian citizens open an account in euro?

Citizens of Ukraine legally residing in the Republic of Lithuania have the right to apply to all banks and other financial institutions (e.g. electronic money institutions, credit unions) providing payment services. Their list (including contact details) is available on the Bank of Lithuania website.

Possible limitations:

If a person does not have a valid identity document, i.e. the condition to have a valid identity document is mandatory
If a person is on the list of persons subject to sanctions

How much does it cost to open an account?

Banks belonging to the Association of Lithuanian Banks as well as some electronic money institutions have taken individual and independent decisions to open accounts for Ukrainian citizens who have fled the war zone free of charge as well as to offer payment service plans free of charge.

List of credit institutions and electronic money institutions with which accounts are opened free of charge:

AS Citadele banka Lithuanian branch
Foxpay, UAB, more information here
Luminor Bank AS Lithuanian branch, more information here
Paysera LT, UAB, more information here
Pervesk, UAB
Revolut Payments, UAB, more information here
SatchelPay, UAB, more information here
AB SEB bankas, more information here
Swedbank, AB
AB Šiaulių bankas

In general, each payment service provider has the right to set fees for the services provided. Prices of services are available on the websites of payment service providers and are also available free of charge at the physical branches of payment service providers (at the person’s request).

The fees of certain services offered by various payment service providers can also be compared on the Bank of Lithuania website (only in Lithuanian):

To open an account with a credit union, you need to become its member.

What do I need to open an account with Lithuanian financial institutions?

Citizens of Ukraine need a valid passport or another identity document.

For specific information on the steps to be taken and the documents to be submitted in order to open a payment account, please contact a specific payment service provider (by phone, email, in writing or by visiting physical branches with customer service). If you encounter any difficulty, you can always contact the Bank of Lithuania which is ready to assist you and mediate in resolving any uncertainties between you and the respective payment service provider.

Will I have an account opened if I do not have any income and a place of residence?

On the income received. There is no legal requirement to receive income to open an account. However, payment service providers are likely to ask to explain for what purpose a consumer opens the account, for example, for receiving social benefits, wages, etc., what is the planned monthly turnover in the account, etc. Requirements to submit information of a similar nature (including the request to fill in the Know-Your-Customer questionnaire) arise from the requirements of the Republic of Lithuania Law on the Prevention of Money Laundering and Terrorist Financing that is binding on financial institutions.

On the place of residence. As the place of residence is important for tax purposes, payment service providers may request to indicate a residence address. For further information, please contact the relevant financial institution.

Is it possible to open an account for a child?

The conditions for opening all types of accounts are determined by payment service providers, so to obtain further information one should contact a specific financial institution. If you have all the necessary documents, there should be no problem opening an account for a child under the terms and conditions specified by a particular payment service provider.

As a general rule, if an account is opened for a minor, both the child’s and the parents’ identity documents must be submitted when visiting a bank branch. Depending on the bank and the specific situation of the child and the family, additional documents may be requested. Adult supervision when handling the account will be required until the age of 14. Minors between the ages of 14 and 18 may dispose of their own funds with the consent of one of their parents, adoptive parents or guardians. Feel free to contact and consult your bank. The staff will undoubtedly help you choose the best offer.

Where can Ukrainian citizens get a payment card?

A payment card will be issued upon opening an account if the company opening the account issues cards.

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Payment cards

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Will my Ukrainian payment cards work in Lithuania?

Visa and MasterCard cards issued by Ukrainian banks work in Lithuania when paying for purchases and withdrawing cash. „Swedbank“, AB payment terminals also accept UnionPay payment cards. There may be issues if your bank does not function properly, e.g. the banking system is no longer functioning

Will hryvnias be automatically converted into euros? At what rate?

When making a payment in another currency (euro), the payment amount is automatically converted into the currency of the account and the account will be debited in hryvnias. Money held in the account is not automatically converted.

Currency exchange is carried out by your card-issuing bank in Ukraine. Normally, the exchange rate set by Visa and MasterCard is applied, and your bank’s mark-up may be added. The applicable mark-up may be indicated on your bank’s website. Exchange rates applied by Visa and MasterCard can be checked using calculators:

Do all Ukrainian cards work?

International system cards (Visa and MasterCard) work if there is no disruption in the functioning of the Ukrainian banks that issued them. Visa and MasterCard cards issued by Russian and Belarusian banks do not work.

Where can I withdraw cash from my Ukrainian payment card?

At any ATM. The map of ATMs operating in Lithuania can be found here.

Will there be a withdrawal fee and what kind?

Cash withdrawal fees are charged by the bank that issued the card. You should check the fee that applies to cash withdrawals carried out in other countries. Lithuanian banks operating ATMs will not charge you any fee. A fee may apply if you withdraw cash from Euronet, an independent ATM network.

In what ATM network is it best to withdraw cash using a card issued in Ukraine?

The fee is set by the bank that issued your card. As a general rule, fees for withdrawals in other countries do not vary depending on the ATM network, i.e. they should be the same at all ATMs.

Where can Ukrainian citizens get a payment card?

A payment card will be issued upon opening an account if the company opening the account issues cards.

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Exchange of hryvnias

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Where can I exchange hryvnias (banknotes) into euro?

Currency exchange operator	Address(es)	Opening hours	Website	Other information
Vilnius
EXCHANGELT (Drusvalas, UAB and Satola, UAB)	Ozo g. 25 (Akropolis Shopping Centre)	Mon–Sun 9:00–22:00	https://exchange.lt	Hryvnias are exchanged only for Ukrainian citizens (one must present an identity document). The maximum exchange amount may be limited.
	Sodų g. 22 (Kaunas Bus Station)	Mon–Sun 8:00–20:00
	Geležinkelio g. 16 (Vilnius Railway Station)
	Mamoničių g. 3 (Maxima Shopping Centre)
	Liepkalnio g. 112 (Maxima Shopping Centre)	Mon–Fri 9:00–21:00 Sat–Sun 9:00–20:00
	Mindaugo g. 11 (Maxima Shopping Centre)
	Pilaitės pr. 31 (Maxima Shopping Centre)
	V. Pociūno g. 8 (Vilnius Outlet Shopping Centre)	Mon–Sun 10:00–21:00
Florinus, UAB	Šeimyniškių g. 24	Mon–Fri 09:00–18:00 Sat 10:00–17:00 Sun 10:00–17:00	https://www.florinus.lt	Hryvnias are exchanged only for Ukrainian citizens (one must present an identity document).
Florinus, UAB	Kareivių g. 2B	Mon–Fri 09:00–18:00 Sat 10:00–17:00 Sun 10:00–17:00	https://www.florinus.lt
Top Exchange (Konversita, UAB)	Geležinkelio g. 6	Mon–Sun 8:00–20:00	https://topexchange.eu	–
	Vikingų g. 3 (Nordika Shopping Centre)	Mon–Sat 10:00–21:00 Sun 10:00–20:00
	Gedimino pr. 9 (G9 Shopping Centre)	Mon–Sat 10:00–20:00 Sun 10:00–18:00 Lunch break 15:00–15:30
	Viršuliškių g. 40 (Mada Shopping Centre)	Mon–Sat 10:00–21:00 Sun 10:00–18:00
	Ozo g. 18 (Ozas Shopping Centre)	Mon–Sun 10:00–20:00 Lunch break 14:30–15:00
	Verkių g. 31C (Outlet Park Shopping Centre)	Mon–Sun 10:00–20:00 Lunch break 14:00–14:30
	Ukmergės g. 369 (Big Shopping Centre)	Mon–Sun 10:00–20:00
	V. Pociūno g. 8 (Vilnius Outlet Shopping Centre)	Mon–Sun 10:00–21:00
	Self-service exchange office, Saltoniškių g. 9 (Panorama Shopping Centre)	Mon–Sun 8:00–23:00
Valiuta24.lt (Madelina, UAB)	Kedrų g. 4 (Rimi Mylia Shopping Centre)	Mon–Sun 9:00–21:00	https://valiuta24.lt	-
Kaunas
EXCHANGELT (Drusvalas, UAB and Satola, UAB)	Savanorių pr. 255 (Maxima Shopping Centre)	Mon–Fri 8:00–21:00 Sat–Sun 8:00–20:00	https://exchange.lt	Hryvnias are exchanged only for Ukrainian citizens (one must present an identity document). The maximum exchange amount may be limited.
	Karaliaus Mindaugo pr. 49 (Akropolis Shopping Centre)	Mon–Sun 9:00–21:00
	Islandijos pl. 32 (Mega Shopping Centre)
	Šarkuvos g. 1A (Maxima Shopping Centre)
Florinus, UAB	Kaunakiemio g. 40	Mon–Fri 09:00–18:00 Sat 10:00–17:00 Sun 10:00–17:00	https://www.florinus.lt	Hryvnias are exchanged only for Ukrainian citizens (one must present an identity document).
Florinus, UAB	Pramonės pr. 29 (Maxima Shopping Centre, 2nd floor)	Mon–Fri 09:00–18:00 Sat 10:00–17:00 Sun 10:00–17:00	https://www.florinus.lt
Valiuta24.lt (Madelina, UAB)	Vytauto pr. 24 (Kaunas bus station)	Mon–Sun 08:00–20:00	https://valiuta24.lt	–
Valiuta24.lt (Madelina, UAB)	Jonavos g. 60 (River Mall Shopping Centre)	Mon–Sun 09:00–21:00	https://valiuta24.lt	–
Valiutų mainai, UAB	Kovo 11-osios g. 22	Mon–Fri 09:00–19:00 Sat 10:00–17:00 Sun Closed	https://pinigukeitimas.lt	–
Klaipėda
EXCHANGELT (Drusvalas, UAB and Satola, UAB)	Taikos pr. 61 (Akropolis Shopping Centre)	Mon–Sun 9:00–21:00	https://exchange.lt	Hryvnias are exchanged only for Ukrainian citizens (one must present an identity document). The maximum exchange amount may be limited.
EXCHANGELT (Drusvalas, UAB and Satola, UAB)	Liepų g. 81 (Maxima Shopping Centre)	Mon–Sun 9:00–21:00	https://exchange.lt
Florinus, UAB	Skerdėjų g. 12	Mon–Fri 09:00–18:00 Sat 10:00–17:00 Sun Closed	https://www.florinus.lt	Hryvnias are exchanged only for Ukrainian citizens (one must present an identity document).
Šiauliai
Florinus, UAB	Dvaro g. 64	Mon–Fri 09:00–18:00 Sat 10:00–17:00 Sun Closed	https://www.florinus.lt	Hryvnias are exchanged only for Ukrainian citizens (one must present an identity document).
Panevėžys
Florinus, UAB	Respublikos g. 28	Mon–Fri 09:00–18:00 Sat 10:00–17:00 Sun Closed	https://www.florinus.lt	Hryvnias are exchanged only for Ukrainian citizens (one must present an identity document).
Alytus
Florinus, UAB	Pulko g. 5	Mon–Fri 09:00–18:00 Sat 10:00–17:00 Sun Closed	https://www.florinus.lt	Hryvnias are exchanged only for Ukrainian citizens (one must present an identity document).
Marijampolė
Florinus, UAB	Laisvės g. 16	Mon–Fri 09:00–18:00 Sat 10:00–17:00 Sun Closed	https://www.florinus.lt	Hryvnias are exchanged only for Ukrainian citizens (one must present an identity document).

The National Bank of Ukraine recommends Ukrainian citizens who are planning to leave the country not to bring hryvnias in cash due to possible difficulties in exchanging them in the countries of destination, read more here.

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Payment orders

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Can I place payment orders from a Ukrainian account to a Lithuanian account or an account in another foreign country?

The National Bank of Ukraine states that most payment orders from Ukraine abroad are currently forbidden. Exceptions include payments of expenses relating to the death of citizens, medical treatment and transportation of patients abroad. In addition, it is possible to transfer funds for tuition to the accounts of foreign educational institutions (more here). These restrictions have been introduced with a view to supporting the economy and the financial system in the wake of the Russian war against Ukraine.

For international payments subject to exceptions, we recommend contacting your bank in Ukraine.

Can I transfer money from a Lithuanian account to a Ukrainian account? What are the rates?

Financial institutions belonging to the Association of Lithuanian Banks as well as some other electronic money institutions offer their customers free execution of payment orders to Ukraine. Where possible, financial institutions recommend giving priority to payments to accounts where you can make payments in euro. These payments are the fastest, but the correspondent bank may charge a fee.

List of financial institutions offering free of charge payment orders to Ukraine to their customers:

When making a cross-border payment, it is important to choose the currency (euro or hryvnia) in which the payment is to be made. In order to make a transfer in hryvnias, you need to have an account and account balance in this currency with a bank operating in Lithuania. You need to choose the urgency of the transfer and who is to pay the fees associated with the transfer.

Information required to make a transfer:

Identifier of the beneficiary (company code or personal code, name, address)
29-character IBAN account number of the beneficiary in Ukraine. The beneficiary’s account number starts with UA
The beneficiary’s bank SWIFT
The name of the beneficiary’s bank
The address of the beneficiary’s bank
Full name and SWIFT of the beneficiary’s correspondent bank abroad. Select the correspondent bank by currency, not by the country from which the transfer will be made

Cross-border payments to Ukraine may be subject to restrictions, e.g. restrictions on payments in hryvnias between natural persons or no money transfers in hryvnias within a particular bank.

Can I send money to Ukraine using the remittance service?

Yes, payments from Lithuania to Ukraine may also be completed by using the remittance service, e.g. the remittance service of Lietuvos paštas, AB and the services of WesternUnion, Paysera or MoneyGram. When sending remittances, it is usually chosen how the beneficiary will collect the funds – in the agent’s physical location as cash or as an amount credited to their bank account/payment card. When choosing the location for collecting the remittance, because of the war situation, we recommend to give careful consideration to whether it is possible to collect cash at a certain location. Those wishing to send a remittance from Lithuania to Ukraine may do so in cash at a location of a remittance service provider or by making a payment with a payment card through a website/app of a remittance service provider.

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Insurance services

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Can I take out accident insurance for my children when they arrive in Lithuania? And take out insurance for myself?

Voluntary insurance contracts (health, home, travel, etc.) are concluded on a voluntary basis, i.e. the insurance company may choose with whom and which contracts to conclude. You should check with each insurance company individually or, for the sake of simplicity, with an insurance broker, which will have data on a larger number of insurance company services in one place. Some insurance companies offer certain services to Ukrainian citizens free of charge, such as Lietuvos draudimas insurance for Ukrainian children (for more information, click here).

If I arrive with my own car, can I insure it or is my Ukrainian insurance valid?

In Lithuania, as in all countries of the European Economic Area (EEA), vehicles physically present in the country need to have an insurance contract valid here, which can be a green card issued in Ukraine or in another country (if the vehicle is registered there) and valid in EEA countries. Motor third-party liability insurance purchased in EEA countries is also valid. For possibilities to obtain such a contract, insurance companies or insurance brokers should be contacted. In addition, Lietuvos draudimas currently is offering a 30-day compulsory motor third party liability insurance policy to all Ukrainian citizens arriving by car from Ukraine (for more information, click here).

Can I get insurance for my rented accommodation in Lithuania and how?

Owners should take out insurance for their rental property. For the conditions and possibilities, you should check with each insurance company individually or, for the sake of simplicity, with an insurance broker, which will have data on a larger number of insurance company services in one place.

BTA draudimas has announced that it will provide free residents' property insurance for all dwellings in Lithuania where refugees from Ukraine will be accommodated (for more information, click here).

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Additional information

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Basic payment account. Who opens it, what does it do for the consumer and how does it differ from a regular payment account?

The basic payment account service is provided by credit institutions (banks, credit unions) operating in Lithuania to which a consumer legally residing in the European Union must apply in order to open a basic payment account.

The list of credit institutions providing the said service is available on the Bank of Lithuania website.

The main difference of this account is that the Bank of Lithuania regulates its monthly fee, which is currently €1.45 and €0.72 per month for the low-income customers. Thus, financial market participants providing the basic account service cannot charge a higher monthly fee. The Bank of Lithuania also approves the basic payment account package. Currently, the minimum services included in the basic payment account package that must be provided without additional fees on a monthly basis (usually €1.45 per month) are as follows:

opening of an account;
e-banking, a secure device to manage and log into an account (e.g. a code generator, an app, etc.);
an unlimited number of incoming payments in euro;
unlimited cash deposits in a manner chosen by a credit institution;
a payment card and payment transactions using a card;
no less than 10 any online transfers in euro per month including instant payments, contributions, payments of e-invoices, transfers inside the institution and to other payment service providers, and direct debit transactions;
cash withdrawals – no less than €550 per month within an ATM network chosen by the bank or in the manner chosen by the credit union.

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