Bank Account. FAQ

IBAN stands for International Bank Account Number mandatory in all European Union Member States. This format facilitates payment transactions between partners in different countries with different bank recognition and account numbering systems, therefore when making payments in Euro to customers of the European Economic Area banks, the account number in IBAN format must be entered in the recipient's field. If you do not enter the IBAN, you will not be able to make payment as a transfer in Euro, resulting in increased bank charges for you and the recipient, longer transaction times, as your payment will be processed as a transfer in other currency.

IBAN Bank account number in Lithuania consists of 20 symbols:

 
The list of countries, in which IBAN is mandatory or strongly recommended.

Yes, if you are of full age, have valid passport or identity card of the Republic of Lithuania or permanent/temporary permission to live in the Republic of Lithuania and use qualified Smart-ID or mobile signature. More information is available here.

Individuals of full age, holding passports or identity cards of the Republic of Lithuania  or permanent/temporary permission to live in the Republic of Lithuania initiate remote account opening process, fill in and sign client's questionnaire, initiate video call with the bank consultant. During the call, the bank employee will identify the potential client and agree on bank account opening and service provision. More information is available here.

Individuals of full age, holding passports or identity cards of the Republic of Lithuania  or permanent/temporary permission to live in the Republic of Lithuania and qualified Smart-ID or mobile signature (needed when completing the client's questionnaire and signing agreements) can become clients and open bank accounts remotely. More information is available here.

First bank account for a citizen of the Republic of Lithuania can be opened:

• by visiting any customer service centre (advance booking is required by phone +370 5 239 3444) and presenting a passport or identity card.
• remotely, if a person is of full age and has qualified Smart-ID or mobile signature.

First bank account for a non-citizen of the Republic of Lithuania can be opened remotely, if she/he has qualified Smart-ID or mobile signature.
If non-citizen of the Republic of Lithuania do not have qualified Smart-ID or mobile signature account can be opened by visiting any customer service centre (advance booking is required by phone +370 5 239 68 3444). Foreign citizens must present one of the following documents:

• Foreign citizen's passport.
• Diplomatic passport.
• EU resident's identity card.
• Permit of residence in the Republic of Lithuania (temporary or permanent) or a certificate issued by the Migration Department under the Ministry of the Interior of the Republic of Lithuania on the individual's right to reside in the Republic of Lithuania (temporarily or permanently) (if any).
• Documents proving the need for banking services in Lithuania. * 

Yes. If a bank account is opened or a bank account agreement is signed by your authorised person, he/she must provide our consultant with his/her identity document and power of attorney stating that the authorised person has the right to open a bank account in your name. We carry out operations exclusively on the basis of powers certified by the notaries of the Republic of Lithuania or equivalent. In addition to the power of attorney, the authorised person must present a document certifying the principal's identity or its notarised copy.

Bank account statement can be generated on Internet bank (Accounts/Cards → Statements). If you do not use Internet bank, you can receive your bank account statement at the nearest customer service centre (advance booking is required by phone +370 5 239 3444). Account statement issue is charged the fee specified in the Pricelist.

Account opening in a bank's division takes approximately 45 minutes. If a client is a non-citizen of the Republic of Lithuania, data check and account opening may take longer.

Interview on account opening remotely lasts approximately 10 minutes.

No. When opening an account and identifying a person, identity documents with the person's citizenship recorded are used.

You can close not the last bank account by logging on to Internet bank and filling in an application (Applications → New application → Accounts → Account(s) closing application → Fill in), calling +370 5 239 3444 or visiting the nearest customer service centre (advance booking is required by phone +370 5 239 3444).

You can close the last bank account by logging on to Internet bank and filling in an application (Applications → New application → Accounts → Account(s) closing application → ​Fill in), calling +370 5 239 3444 or visiting the nearest customer service centre (advance booking is required by phone +370 5 239 3444).

No account closing fee is applied.

Following renewal/order of a new payment card, the account number remains unchanged.

ISO 20022 introduces fundamental changes in the traditional communication language used in the payments industry. This is an industry‑wide transition to a common standard for payments and statements/reports. At the moment, payment service providers are guided by various standards, which leads to inefficiency of operations, obstacles to automation and problems of global mutual communication.

ISO 20022 comes up with new data elements, wide choices and a richer structure, enabling a more structured and reliable messaging to implement a global standard of communication.

In response to the need for such a standard, SWIFT has announced the migration of international payment and statement/report flow to ISO 20022.

Starting from March 2023, SWIFT has been supporting both ISO 20022 messages and MT format messages. SWIFT plans to decommission MT standard payments and statements/reports in November 2025. 

• Luminor has been sending/receiving Target2 payments under ISO 20022 starting from 20 March 2023. 
• Luminor migrates outgoing and incoming flow of cross‑border payments including bank‑to‑bank transfers to ISO 20022 gradually.  
• Luminor plans to implement ISO 20022 standard for customers’ statements/reports in 2024.

Migration impacts the following banking services: 

• Payment processing
  Changes will be in the bank‑to‑bank space, and payment processing will function as usual without any interruptions. If a customer orders payment confirmation, then instead of MT103 format, Luminor will send payment confirmation as pacs.008 under ISO 20022 standard.  
• Payment initiation
  Changes will be in the bank‑to‑bank space. When a customer requests a payment from his account with another bank and issues pain.001 to Luminor, Luminor sends to another bank a request for payment in MT101 format, which will be migrated to pain.001 under ISO 20022 standard.  
• Account information services (MT940, MT941, MT942)
  Account statements and reporting from customer accounts with another bank:
  MT940 will be replaced by camt.053.001.08 and MT941/MT942 will be replaced by camt.052.001.08 messages under ISO 20022 standard.

The new SWIFT standard is called Cross‑Border Payment Reporting plus (CBPR+). A variety of ISO 20022 payment related topics are explained in CBPR+ User Handbook, which can be found here: ISO 20022 Programme User Handbook (swift.com). 

Camt.053 format will become mandatory for SWIFT participants starting from November 2025. Until November 2025, you can receive MT94X statements/reports. The bank will change the format automatically starting from November 2025. 

• Camt.053/052 contains enriched data. 
• The information is made available in a structured format, which increases the potential for automation of reconciliation process (straight‑through processing). 

No. Customers’ Luminor account statement formats will not be changed. 

You will see information in the same way as you currently see it in Luminor Bridge. You can download the statement, and it will be generated by Luminor Bridge in camt.053.001.02 format according to existing Rules for the use of ISO 20022 standard in Luminor for data format in connection between CUSTOMER – BANK.

You should know the new file type name to create a correct Luminor Web Services request. Additional information will be provided by Luminor later.

When Luminor and the sender bank are ready for exchanging camt.05X messages and when it’s bilaterally agreed with the sender bank on camt.05X flow activation date.

No, you don’t. The existing agreement will be valid.

No, you don’t. When you are ready to receive statements/reports on your Luminor account in camt.05X format in another bank, you should request Luminor to start sending statements/reports in camt.05X format. Luminor will start to send statements/reports on your account in camt.05X format when the receiver bank is ready to receive statements in camt.05X format. This will be agreed with each receiver bank separately. 

Yes, the continuity of the sequence number of the statement will be ensured.