Banks in Lithuania

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Lithuanian neobanks and Fintechs offer a broad selection of banking services through mobile apps or online platforms. For instance, N26 and Revolut are two popular neobanks in Lithuania. They offer retail clients and business customers current accounts, personal accounts, business accounts, debit cards, international money transfers and insurance. On the other hand, SEB and Swedbank are traditional banks that offer similar services to neobanks. Unlike digital neobanks, these legacy banks have physical branches, mostly Vilnius banks and other cities in Lithuania. Lithiania has managed to attract a rich ecosystem of FinTechs thanks to its flexible and modern bank regulation. That is why, for instance, Revolut has opened its European headquarters in Vilnius. Revolut has recently obtained a banking license in Lithuania. This move has permitted Revolut to offer its customers a broad variety of banking services, such as debit and prepaid cards, free ATM withdrawals, money transfers and personal loans to residents in the EU and other European Economic Area countries.

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