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Yes โ you can open a Lithuanian bank account before you have an asmens kodas
Digital providers licensed in Lithuania โ Revolut, Paysera and Wise โ open accounts online with just a passport, usually within 24 hours. Traditional banks like Swedbank, SEB and Luminor will generally want a residence permit or asmens kodas, though SEB can open accounts remotely by video call.
Table of Contents
You Can Open a Lithuanian Bank Account Before You Have an Asmens Kodas
You do not need a Lithuanian personal code (asmens kodas) to start banking here. Digital providers licensed in Lithuania โ Revolut, Paysera and Wise โ open accounts online with just a passport, usually within 24 hours. Traditional banks like Swedbank, SEB and Luminor will generally want a residence permit or asmens kodas, though SEB can open accounts remotely by video call.
There's a quirk here that works in your favour: Revolut is licensed in Lithuania and issues Lithuanian (LT) IBANs. In most countries that's a drawback โ employers reject foreign IBANs. In Lithuania, it's a local account, so it can genuinely serve as your main salary account from day one.
Need the step-by-step version? Read our full guide on how to open a bank account in Lithuania as a foreigner. Want to know what actually lands in your account each month? Use the gross-to-net salary calculator.
| Provider | Online | English | No asmens kodas | EU citizens need | Non-EU citizens need | Time to open | Monthly fee | |
|---|---|---|---|---|---|---|---|---|
| Revolut | โ | โ | โ | Passport / ID | Passport | ~10 min in app | โฌ0 | Open |
| Paysera | โ | โ | โ | Passport / ID | Passport | ~24 hours | โฌ0 | Open |
| Wise | โ | โ | โ | Passport / ID | Passport | Minutes | โฌ0 | Open |
| SEB | โ video | โ | โ | ID + address | Passport + residence permit | 1โ5 days | Verify | Open |
| Swedbank | โ | โ | โ | ID + address | Passport + residence permit | 1โ5 days | Verify | Open |
| Luminor | โ | โ | โ | ID + address | Passport + residence permit | 1โ10 days | Verify | Open |
Last updated: 31 July 2026. Requirements may vary โ always confirm directly with the provider before proceeding.
Our recommendation for most foreigners:
Revolut
Best for most foreigners โ local LT IBAN, opens in minutes
Key features
- Lithuanian IBAN โ accepted by LT employers and Sodra
- Fully online, no branch visit, no asmens kodas needed
- Best-in-class app and FX rates
Account details
- Min. deposit
- โฌ0
- Opening method
- App + passport
- Card
- Virtual instant, physical optional
- IBAN type
- Lithuanian (LT)
Summary
- Lithuanian IBAN โ accepted by LT employers and Sodra
- Fully online, no branch visit, no asmens kodas needed
- Best-in-class app and FX rates
- No physical branches if you need in-person help
Swedbank
Largest branch and ATM network in Lithuania
Key features
- Biggest ATM and branch network โ useful outside Vilnius
- Full service: mortgages, loans, investments
Account details
- Min. deposit
- โฌ0
- Opening method
- Branch or video call
- Card
- Physical, posted
- IBAN type
- Lithuanian (LT)
Summary
- Biggest ATM and branch network โ useful outside Vilnius
- Full service: mortgages, loans, investments
- Usually requires a residence permit or asmens kodas
SEB
Best traditional bank for remote opening
Key features
- Can open remotely during a video meeting
- Accepts passport, ID card or LT residence permit
Account details
- Min. deposit
- โฌ0
- Opening method
- Video call or branch
- Card
- Physical, posted
- IBAN type
- Lithuanian (LT)
Summary
- Can open remotely during a video meeting
- Accepts passport, ID card or LT residence permit
- Smaller network than Swedbank
Paysera
Cheapest option โ Lithuania's home-grown fintech
Key features
- Lithuanian company, widely recognised locally
- Very low fees, open online without residency
Account details
- Min. deposit
- โฌ0
- Opening method
- App + passport
- Card
- Virtual instant, physical optional
- IBAN type
- Lithuanian (LT)
Summary
- Lithuanian company, widely recognised locally
- Very low fees, open online without residency
- Not a bank โ an EMI, so different protection rules apply
Luminor
Baltic-focused bank, good for cross-border needs
Key features
- Operates across Lithuania, Latvia and Estonia
Account details
- Min. deposit
- โฌ0
- Opening method
- Branch or online
- Card
- Physical, posted
- IBAN type
- Lithuanian (LT)
Summary
- Operates across Lithuania, Latvia and Estonia
- Requires residence documentation
Wise
Best for multi-currency and getting paid from abroad
Key features
- Hold 40+ currencies, real mid-market exchange rate
- Ideal if you invoice clients outside the eurozone
Account details
- Min. deposit
- โฌ0
- Opening method
- App + passport
- Card
- Virtual instant, physical optional
- IBAN type
- Not Lithuanian (multi-currency)
Summary
- Hold 40+ currencies, real mid-market exchange rate
- Ideal if you invoice clients outside the eurozone
- Not a full bank account โ no lending, no local branch
Why You Can Trust This Guide
How to Choose the Right Bank in Lithuania
It comes down to three questions: do you have residency yet?, do you need a physical branch?, and what will you actually use the account for?
If you've just arrived and have no asmens kodas
Start with Revolut or Paysera. Both open online with a passport, and Revolut's Lithuanian IBAN means your employer can pay you into it straight away. You can add a traditional bank later once your residence permit comes through.
If you need a branch nearby
Swedbank has the widest network, which matters outside Vilnius and Kaunas, and for things that still need a human: mortgages, notarised documents, or unfreezing an account. If you bank purely on your phone, branch count is irrelevant.
If you're buying property or need a mortgage
You'll need a traditional bank โ Swedbank, SEB or Luminor. Fintechs don't lend. Expect to need residency, Lithuanian income and a local credit history first.
Why you'll probably want a local account eventually
Salary, rent standing orders, Sodra contributions, tax refunds from VMI and utility direct debits all run smoothly on a Lithuanian IBAN. The good news is that a Revolut LT IBAN counts as one โ which is not true in most other EU countries.
The ATM trap that costs foreigners money
When an ATM or card terminal offers to charge you in your "home currency" instead of euros, always decline and choose EUR. This is Dynamic Currency Conversion, and it lets the machine operator set the exchange rate โ typically a 3โ7% markup. Independent ATMs in tourist areas push it hardest.
How to Open a Bank Account in Lithuania as a Foreigner
With a digital provider it's roughly ten minutes: download the app, photograph your passport, record a short video for identity verification, and wait for approval. Traditional banks take longer and usually want you to have residence documentation first, though SEB can complete the process over a video meeting rather than in a branch.
Read the full step-by-step account-opening guide โDocuments You Need
EU / EEA citizens
- Passport or national ID โ required
- Lithuanian address โ usually required by traditional banks
- Asmens kodas โ not needed for fintechs; usually needed for banks
- Employment contract โ speeds up approval
Non-EU citizens
- Passport โ required
- Residence permit or visa โ required by traditional banks
- Lithuanian address โ required
- Proof of income โ often requested
- Source-of-funds explanation โ common for non-residents
Tip: bring originals, not photocopies. If you're opening online, have your passport in hand for the video verification step and make sure you're somewhere well lit.
Common Mistakes Foreigners Make
Exchanging money at the airport. Currency booths at Vilnius Airport run wide spreads. Pay by card in euros or withdraw from a bank ATM instead.
Accepting Dynamic Currency Conversion. Covered above, but worth repeating because the screens are deliberately confusing. Always choose euros.
Assuming an EMI is a bank. Paysera and Revolut are excellent, but check what protection actually applies to your balance. Bank deposits are covered up to โฌ100,000 under the EU deposit guarantee scheme; e-money institutions safeguard funds differently.
Not telling your bank you're travelling. Cards get blocked on first use abroad. Set a travel notice in the app.
Letting your address go stale. New cards, PINs and VMI correspondence go to your registered address.
Banking for Students, Freelancers and Business Owners
Students
International students can usually open a fintech account immediately with a passport, and a traditional bank account once enrolled and registered. Ask about student pricing.
Freelancers (individuali veikla)
You're not legally required to keep business money separate, but it makes your annual declaration far easier. See our guide to individuali veikla vs. a company.
Company owners (UAB)
A UAB needs a dedicated business account for share capital and operations. Expect heavier documentation and 5โ14 business days. See business bank accounts.
Money Transfers and Payment Methods
Lithuania is in the eurozone, so SEPA transfers to other euro countries are cheap and usually same-day or instant. Sending money outside the eurozone through a traditional bank is where the cost hides โ typically a 2โ4% FX markup on top of the stated fee.
For transfers to Ukraine, Belarus, the UK or the US, Wise and Revolut use rates far closer to mid-market. Compare the amount that arrives, not the upfront fee.
Lithuania is heavily cashless. Contactless works nearly everywhere, and Apple Pay and Google Pay are widely supported. You can go weeks without cash, though small amounts are handy for markets and tips.
Revolut vs a Lithuanian Bank: Do You Need Both?
In most countries the answer is "yes, you need a local bank." Lithuania is the exception, because Revolut's IBAN is Lithuanian. Many people here run Revolut as their only everyday account.
Revolut / Paysera / Wise
- โ Opens in minutes with a passport
- โ Lithuanian IBAN (Revolut, Paysera) accepted for salary
- โ Excellent FX and international transfers
- โ No mortgages or meaningful lending
- โ No branches
Swedbank / SEB / Luminor
- โ Mortgages, loans, investment products
- โ Branches and in-person support
- โ Builds a local credit relationship
- โ Usually needs residency / asmens kodas
- โ Slower to open, higher fees
What I'd do: open Revolut or Paysera on day one so you can receive a salary immediately, then add Swedbank or SEB once your residence permit arrives โ before you need anything that requires a real bank, like a mortgage.
Lithuanian Banking Terms You'll Encounter
| Lithuanian | English |
|---|---|
| Sฤ skaita | Account |
| Asmens kodas | Personal identification code |
| Pavedimas | Bank transfer |
| Mokฤjimo kortelฤ | Payment card |
| Grynieji pinigai | Cash |
| Iลกgryninimas | Cash withdrawal |
| Mokestis | Fee / charge |
| Palลซkanos | Interest |
| Periodinis mokฤjimas | Standing order |
| Tiesioginis debetas | Direct debit |
| Indฤlis | Deposit |
| Paskola | Loan |
Ready to open your Lithuanian bank account?
Revolut opens in about 10 minutes with just a passport. Prefer a traditional bank? Swedbank has the widest branch network.
Frequently Asked Questions
Can I open a Lithuanian bank account without an asmens kodas?
Yes. Revolut, Paysera and Wise open accounts online with just a passport. Traditional banks such as Swedbank, SEB and Luminor generally want a residence permit or asmens kodas, although SEB can open accounts remotely by video meeting.
Can I open an account before I move to Lithuania?
With fintech providers, generally yes โ they operate across the EEA. Traditional Lithuanian banks usually expect a local address and residence documentation, and non-residents are often asked to explain their reason for banking in Lithuania.
Will a Lithuanian employer accept a Revolut IBAN?
Usually yes, because Revolut is licensed in Lithuania and issues LT IBANs โ unlike in most other countries, where a Revolut IBAN is foreign. Confirm with your employer's payroll department before your first payday.
Is my money protected?
Deposits at licensed banks are covered up to โฌ100,000 per depositor per bank under the EU deposit guarantee scheme, administered in Lithuania by the Deposit and Investment Insurance company (IID). E-money institutions such as Paysera safeguard client funds under different rules โ check the specifics before holding large balances.
Do Lithuanian banks speak English?
The major banks offer English-language apps and support, and Vilnius branches are used to serving foreigners. Fintech apps are fully English. Russian is also widely spoken in banking, which helps if that's your stronger language.
How long does a card take to arrive?
Digital cards are typically available in the app immediately. Physical cards usually arrive by post within about a week.
Important disclaimer. Fees, requirements and services change. This page is general guidance, not financial advice โ always confirm details directly with the provider before opening an account. Some links are affiliate links; they don't affect our rankings.