A list of the top banks in Lithuania

Gert Svaiko

If you’re planning a move to Lithuania for work, study or to start a business, you might find it useful to open a local bank account.

One of the first steps to opening a bank account in Lithuania is to choose a bank. But which is right for you?

To help you compare all your options, we’ve put together a list of the top banks in Lithuania. This includes some of the country’s biggest and most popular banks, plus info on the current accounts each offers.

But let’s start with a quick overview of the banking sector in Lithuania.


Banking in Lithuania (an overview)

Lithuania’s banking sector is relatively small, but there are plenty of options to choose from if you’re looking for a personal or business account. The market is made up of both domestic and international banks, but the biggest institutions are Scandinavian-owned.

Commercial banks and credit institutions are overseen by the central bank, the Bank of Lithuania.

To open a bank account in Lithuania, you’ll usually need the following

  • Proof of identity, such as a passport or ID card

  • Valid visa, residence permit or permanent residence.

You may also be asked for further documentation, such as proof of address and proof of income/employment.

Although it varies by bank and account type, Lithuanian banks do tend to charge some fees. You may pay a small monthly maintenance fee, along with a debit card issuing fee. Some banks also charge a fee to open accounts for non-residents.²

If you need to manage your money internationally and want to save money, check out Wise instead.

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Top 10 banks in Lithuania

Now, let’s take a look at the biggest and most popular banks in Lithuania, so that you can compare all the options.

Here’s the top 10 at a glance, followed by more detail below:

Bank nameOperational HQ
SEB BankaVilnius
Šiaulių BankasŠiauliai
URBO (formerly Medicinos Bankas)Vilnius
PayRay BankVilnius
Mano BankasVilnius
General Financing BankasVilnius
European Merchant BankVilnius
Fjord BankVilnius
Finora BankVilnius


One of the biggest banks in Lithuania, Swedbank is part of the Swedish-owned Swedbank Group. It's a universal bank, serving retail, business and private banking customers.

Personal customers can choose from a selection of service plans, which bundle together key banking services like accounts and cards. This includes the ‘Convenient’ plan, which has a small monthly fee and gives you an account, debit card and unlimited money transfers.³

The bank also has business bank accounts, payment solutions, cards, financing and more for corporate customers.

SEB Banka

SEB Banka is another Swedish-owned bank operating in Lithuania, headquartered in Vilnius. It’s a full-service universal bank with solutions for personal, corporate and private banking customers.

For everyday banking, the SEB Banka current account could be worth a look. It can be opened and managed through its mobile app, and lets you link a payment card to the account.

For business customers, there are service plans, bank accounts, cards, payment solutions and a selection of helpful tools and services too.

Šiaulių Bankas

Established in 1992, Šiaulių Bankas is based outside of the capital in Šiauliai, in northern Lithuania. It serves both private and business customers, with a full range of products available.

This includes bank accounts and service plans, such as the Traditional plan. For a small monthly fee, you’ll get a debit card, online and mobile banking and unlimited transfers. There are also reduced rates for older customers.⁴

Businesses can choose from accounts and service plans at Šiaulių Bankas. Plus, payment cards and card readers, financing solutions, savings accounts and investment services.

URBO (formerly Medicinos Bankas)

Formerly known as Medicinos Bankas, this Vilnius-based bank rebranded itself as URBO in early 2024.

Founded in 1992, the bank serves both retail and business customers - with a particular focus on SMEs.

It offers mortgages, loans and savings solutions for individuals, but it does have one option for day-to-day banking. This is the MB Plus service plan, offering basic banking services and a limited number of free transfers for a small monthly fee.

URBO’s offer for businesses includes loans, trade financing, term deposits and a selection of daily banking services. It can also help with insurance and currency exchange.

PayRay Bank

A commercial bank launched in 2018 as the Vilnius Factoring Company, the now renamed PayRay Bank got its banking licence in 2019. The bank’s focus is on business customers, particularly SMEs in need of short-term financing solutions.

It doesn’t offer any current accounts or other financial services for personal customers.


Mano Bankas

Mano Bankas started life in 1996 as Mano Credit Union, but became a specialised bank in 2018. It serves both personal and business customers, with a range of accounts, loans and mortgages.

This includes current accounts, available for both residents and non-residents. These offer everything you need for day-to-day money management, including online banking.

For business customers, Mano Bankas offers loans, leasing, accounts, payments and deposits. It also has dedicated services for fintechs.

General Financing Bankas

General Financing Bankas or GF Bankas is owned by Swedish financial company Marginalen. It was established in 2005, and offers consumer credit and leasing services.

As a personal customer, you can open a deposit or a savings account.

There aren’t any accounts or services for businesses available directly from GF Bankas.

European Merchant Bank

Commonly known as EM Bank, European Merchant Bank is part of the Norwegian-based Akce Group. In Lithuania, it focuses on solutions and services for businesses and fintechs. This includes accounts, lending, savings, payments and more.

European Merchant Bank doesn’t offer any current accounts for individuals.

Fjord Bank

Launched in 2019 by a group of Norwegian entrepreneurs living in Lithuania, Fjord Bank is a digital banking specialist. It offers products for personal customers in just two main areas - loans and deposits.

If you’re looking for a car loan, consumer credit, home renovations loan or refinancing solution, Fjord Bank could be worth a look. It also has a term deposits account if you’re looking to grow your savings.

Finora Bank

Lastly, we have Finora Bank. It’s a specialised bank focusing on business customers, offering a selection of loans, leasing, factoring, guarantees and other financial services to SMEs. It also offers microloans, as well as loans for creative projects.

However, Finora Bank doesn’t have any current accounts for daily banking.

Best online bank accounts and money management alternatives in Lithuania

Want a different way to manage your money overseas? You could try a digital account or a money app.

Here are a few of the most popular choices in Lithuania:

  • Revolut - an all-in-one financial app with a debit card and banking services.

  • N26 - a fully digital bank offering an app-managed bank account and debit card.

  • Vivid Money - a German mobile banking platform available across the EEA. It offers accounts and cards for personal and business customers.

  • Payoro - an Estonian fintech offering an IBAN bank account and app to manage both money and crypto.

Wise – Money for here, there and everywhere

If you want to send money internationally, or use your debit card when you travel, you’re probably looking for the most cost-effective way.

The good news is that there’s a money-saving alternative available from the money services provider Wise. Open a Wise account online, and you can send money worldwide in 40+ currencies for low fees and great exchange rates. It’s not a bank account but offers many similar features.

You can even get an international debit card for spending in over 150+ countries, including Lithuania. It automatically converts your money to the local currency at the mid-market exchange rate, adding only a low, transparent conversion fee*, whenever you spend.

This makes it ideal for travellers, expats, overseas students and anyone else living an international life.

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And that concludes our rundown of the top banks in Lithuania, from banking giant Swedbank down to smaller banks aimed at SMEs and fintechs. Whether you’re looking for a current account or a loan, there are plenty of options in Lithuania.

After reading this, you should be all set to start researching banks and choose the right one for your needs. Good luck!

Sources used for this article:

  1. RUE - Open a bank account in Lithuania

  2. Swedbank - Pricelist

  3. Swedbank - Service plans

  4. Šiaulių Bankas - Service plan ‘Traditional’

Sources last checked on 03-May-2024.

*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.

This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.

We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.

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